Running your own business is appealing for many people. In fact, according to this poll, the dream of opening a small business is shared by roughly 66% of Americans.
Online-only companies can enjoy lower startup costs and often require less overhead.
If you’re looking for online entrepreneur ideas, you’re not alone. Over 4 million businesses submitted business applications to form in 2020, a huge spike compared to the previous year.
What’s the draw of entrepreneurship?
When people think about having their own business they often imagine their dream work schedule, 2 hour lunch breaks in the middle of the day, being the boss and making all the decisions, earning a higher salary, and achieving the American dream.
Those are some pretty cool perks and reasons why a lot of people want to jump into entrepreneurship. We also know that starting a business is hard and there are drawbacks like the struggle of achieving work/life balance, inconsistent pay, and unstable, long hours.
Still, business ownership can be life changing once you find a profitable business idea. When you compare brick-and-mortar businesses to online businesses, online businesses come out ahead for some of the reasons shared above.
Not to mention, the internet is the future and I think for companies to succeed, they should have at least a partial online presence.
8 best online entrepreneur ideas of 2022
If you have no idea what kind of business to start, check out these 8 best online entrepreneur ideas to get you started.
1. Run Facebook ads online
Facebook ads are a form of online advertising and they are arguably one of the most powerful forms of marketing for businesses. That’s because Facebook’s audience is huge.
One billion daily users on the platform means there’s plenty of opportunity to find your target audience from that huge pool.
How it works?
The concept of Facebook ads is simple. The execution is a little more involved but something that you can definitely learn and master.
Businesses create ads to showcase their brand, products, and share their message with their target audience. Prospective consumers see the ad on Facebook, click the ad and take action.
Here’s an example:
This ad that Starbucks ran is showcasing their Happy Hour at stores. They created this ad and showed it to prospective consumers that were likely to respond and take action after viewing the ad.
There are millions of businesses in the world. Advertising for businesses is going to increase their presence online so they can get customers, increase their traffic and revenue, and meet their goals.
So where do you come in?
This online business idea involves you running Facebook ads for local businesses in your community. This can be running ads for coffee shops, dental offices, plumbers, retail stores, etc.
You’ll be connecting with these business owners, helping them create ads to increase their reach online.
How to get started?
First, it’s recommended that you increase your understanding of Facebook ads.
Our Facebook Side Hustle Course will show you everything you need to know to run Facebook ads for local businesses from learning the mechanics behind Facebook ads, how to approach businesses and close the sale, and a lot more.
How much can you make?
You can make up to $1,000 to $2,000 per month/ per client. As you grow your business, you can increase your income by bringing in more clients. There’s even an opportunity scale even further, opening an agency and managing the operation, turning this into a six figure or seven figure business!
To learn more, check out our FB Side Hustle course to get started.
2. Virtual assistant
A virtual assistant is an online personal assistant.
This is a person that will help their client run their day-to-day operations whether they are a busy housewife or a small business owner.
What kind of work do virtual assistants do?
The tasks that you’ll do as a virtual assistant vary from client to client.
Tasks you might perform can include event management, making meeting appointments, calendar management, ordering breakfast or lunch, answering emails or phone calls, etc.
There are different virtual assistants by industry. A general VA is what a lot of business owners start with. This caters to any industry and is limited to general tasks like those shared above.
Then, there are industry-specific VA’s like software development VA’s, Pinterest VA’s, etc.
The specialized industry VA’s typically earn a higher wage so if you have skills that can transition you to become a specialized VA, consider doing it for the increased income potential.
This is a great online job to pursue because it comes with a lot of flexibility.
First, you can take on one or multiple clients which can really amplify your income. There can be opportunities to create your dream schedule, batch your work so you can take time off when you want to and earn unlimited income!
People also like this online business because the start up costs are pretty low. You’ll likely only need a computer to get started. And, if you already have this, along with a quiet space to work then you’re all set with the supplies needed to kick off this business.
How to get started?
You can take a course like Gina Horkey’s 30 Days or Less to VA Success if you want a jumpstart to becoming a VA.
Or if you think you are ready to get started right now, create a website showcasing your business, the services you provide and anything else you’d like to include. Then, start getting clients!
Here are some places where you can find clients for your virtual assistant business:
- Social media (like Facebook, Instagram, LinkedIn, etc.)
- Freelance job banks (like Upwork)
- Job sites (like Indeed)
How much can you make?
It’s not unusual for virtual assistants to make up to $10,000 per month managing multiple clients. According to Payscale, the average income can be up to $59,000 per year.
3. Writer
A professional writer is someone who writes copy for others including white papers, articles, blog posts, website copy, sales pages, emails, etc.
You can specialize in creating one kind of copy, like only white papers, or you can do it all.
Like the other jobs in our roundup, you don’t need a degree to be a writer. While many writers do pursue upper education for writing, you can actually earn a very lucrative living without pursuing that route.
How to get started?
First, pick a writing niche. A niche is a topic or category. This is going to be the type of content that you’ll specialize in, like food writing, B2B writing, tech writing, etc.
Next, set your pricing and find clients.
Then, do your work, rinse and repeat.
Like the VA business, it’s recommended that you create a website for your business or take advantage of joining a site that offers an online portfolio to house your work online like Clippings. This way you can show samples of your work to prospective clients.
A website can be used to acquire leads for your writing business but you can also sell your products and services directly from the site. You can also monetize it with affiliate links or display ads if you can build up a steady stream of traffic.
For more on this, read this article about how to start a profitable blog.
How much can you make?
Writers usually charge per word. Beginners can fetch $0.05 to $0.10 per word. If you write 30,000 words per month at $0.05 per word, that’s around $1,500 per month.
For additional income, there are many ways you can monetize your writing experience and expertise to grow your salary. Here are some ideas:
- Teach new writers how to become a better writer
- Write books about your niche
- Teach courses about your niche
- Start a writing coaching program
Helpful resource: How to start freelance writing with no experience.
4. Proofreader
A proofreader is someone who gets paid to spot check documents for errors in grammar and spelling.
It sounds pretty easy but it’s not for everyone. This requires a lot of patience and can come with long hours reviewing the same document. It can feel monotonous and boring if you don’t like this kind of work.
If you have a good eye, excellent attention to detail and great grammar skills then this job might be for you.
Caitlin Pyle made $43,000 from Proofread Anywhere made her first year proofreading part time!
It can be a high paying online business and it’s great for introverts who thrive in solitude and work well in independent environments.
How to get started?
Caitlin’s course, Proofread Anywhere shows you how to earn money proofreading online from anywhere across the world.
They have a free introductory workshop and free training to get you started to show you the ropes of proofreading and then from there, you can opt into the paid training which gives you everything you need to start a profitable proofreading business.
How much can you make?
Payscale estimates an hourly rate of just over $18 per hour for a proofreader.
5. Transcriptionist
A transcriptionist gets paid to transcribe audio to text.
You will work in a quiet space with headphones, listening to audio, deciphering the conversation and transcribing it to text.
For example, you could be listening to two people having a conservation. You write what each person is saying, following a style guide as you write the transcript.
How to get started?
There are many transcription companies like Rev that you can join for free and they will train you. This is the cheapest route to go and they can help match you with transcription jobs once you’re trained.
If you want the freedom to find transcription jobs on your own, you can look at the job banks, freelance job sites and social media networks shared above.
You can also opt for paid training which can give you a more well rounded education plus access to additional training materials which can make you more self-sufficient in finding transcription jobs.
We recommend Transcribe Anywhere.
How much can you make?
Transcriptionists can make an annual pay of around $58,400.
6. Ecommerce
Ecommerce can include a broad array of different kinds of online businesses, from stores selling ebooks, online courses, sunglasses, cloth diapers, sneakers, home decor goods, done-for-you business services, etc.
Start by figuring out what you want to sell. Then, source those goods. This means finding out how you’re going to get the products to resell in your store (ex. manufacture them, hand make them, buy them wholesale, etc.). Price your goods, order packaging, set up your store website, and get it ready for launch to the public.
How to get started?
Shopify is an all-in-one ecommerce platform that can help you set up and launch your ecommerce store. Popular brands like Kylie Cosmetics, Allbirds, and Tentree all call Shopify home for their ecommerce stores.
With Shopify you can add products, write product descriptions, set up your shipping and tax rates, add gift certificates, create marketing plans, check in on your store analytics and do all the activities needed to run a successful online store.
How much can you make?
Estimating your potential income can be a little tricky as each online store is different. Not to mention, the revenue your store brings in won’t equal out to your salary as store owner.
Top stores make millions of dollars every year.
Some new stores can even go from zero to six figures annually in their first year.
Then, from those sales, the owner earns a cut as their salary.
Bottom line, we can’t predict how much you’ll make since it varies from store to store but know that ecommerce can be high paying if you are willing to put in the time and effort.
This is a good online business to venture into alongside your full-time job. As the scales tip and you begin outpacing the income of your 9 to 5 job, you can look at transitioning to becoming a full-time entrepreneur in ecommerce.
7. Online retail arbitrage
Arbitrage is about finding and profiting from price differences in the market to make money.
For example, you could find two identical Keurig coffee makers. One sells on Walmart.com on sale for $19 and the other sells on Amazon for $42.
What if you bought the Walmart coffee maker for $19 and sold it on Amazon for $42? Could you make a profit?
The difference in price is $23 which is your potential profit if you did this.
This is arbitrage and people do this for a living both in person and online.
In person, you source goods at places you visit like flea markets, thrift stores, consignment stores, general goods stores like Walmart, retail stores, department stores, etc.
If you do this online, it’s the same thinking. You find goods for a low price online in the same places mentioned above but online, then resell online.
Rinse and repeat this to make up to thousands of dollars every week or every month.
How to get started?
Flea Market Flippers actually teach a course on flipping called, Flipper University that helps people get started.
But if you are ready to get started right now, you’ll need to figure out what you want to buy, how much your budget is for buying and what method of reselling you’ll go after.
Examples of things to buy:
- Apparel
- Sneakers
- Accessories
- Home goods
- Electronics
For example, there’s a huge market for sneaker flipping. This teen makes six figures flipping sneakers!
Consider what products you want to buy for resale, like vintage t-shirts, used iPhones, collector’s toys, even digital products like NFTs.
Next, set your budget. You want to know how much buying power you have. Over time your budget can grow so don’t feel bad if you have a modest budget to start.
Do some research to find out where the market for your products are.
For example, on Mercari they have a huge audience for Rae Dunn goods. So, if you sourced Rae Dunn products then resold them on Mercari, there could be an opportunity to make money.
Here are some places you can resell your arbitraged goods:
- Amazon
- Ebay
- Poshmark
- Mercari
- Tradesy
Lastly, buy your goods and put your plan into action!
How much can you make?
How much you make is determined by the profit margin on your products and your budget. Someone with a $200/week budget will likely make less than someone with a $2,000/week budget.
If you flipped 10 goods per week making around $30 on each item, that would make you an extra $1,200 per month.
This couple made over $3,000 in one month!
This number is based on so many factors though so you could make considerably more or less. If this is something that interests you, it’s a fun and fulfilling online business that is great for self starters.
Make a plan, create some goals and take action.
8. Blogging
Bloggers write articles online on topics they are knowledgeable about and over time build a following that earns them money.
If you are interested in blogging, start by choosing a topic that you are passionate about like hiking, personal finance, or parenting.
You’ll also need to build a website so you have someplace to put your articles. If this is intimidating, we have a free service called Launch That Blog that will get you started.
Here are some ways that you can monetize your blog to make a solid part-time or full-time income:
- Products and services
- Affiliate marketing
- Sponsorships
- Advertising
The first way you can make money blogging is by selling your own products and services.
Examples of products that you can sell can be an e-cookbook or digital course. You could sell services like coaching or consulting, for example.
Another way to make money blogging is through affiliate marketing.
This is where you talk about products that you like and support in your blog. You will add affiliate links in your blog posts and if your readers click your affiliate links and make a purchase then you earn a small commission at no additional cost to them.
For example, if you are a food blogger and you created a pasta recipe, you could talk about and link to your favorite kitchen gadget in your blog, which earns you a $3 commission for every purchase.
If 100 people click that link and buy during the month then you just earned $300 from that one affiliate link!
Sponsorships or brand deals are another way to make money blogging. This is where you partner with a company who pays you a flat fee to talk about them in your blog.
For example, a computer company could offer you $2,000 to mention their new laptop in an upcoming blog post.
Lastly, you can make money blogging with advertising. You can place ads throughout your blog like in your blog posts and in your sidebar. You can get paid if someone views or clicks on the ad. This can be an excellent source of passive income for your blog.
How to get started?
To get started as a blogger, check out this resource which tells you how to start a blog and make money. You can also review these helpful articles which talk more about blogging and how to make money blogging:
How much can you make?
The income path you’ll take as a blogger is dependent on many factors and can vary widely. Bloggers can make between nothing to thousands or even millions of dollars per year.
Our best advice to make money blogging?
Diversify your income sources. That means monetize your blog in multiple ways so you can enjoy more consistent income and rely on multiple pathways to income.
Want to learn how we’ll create your blog for you for free? Click here to find out.
Final Thoughts about the 8 best online entrepreneur ideas
If you dream about being a business owner, don’t delay. It’s time to take action and these are some ideas to get you started. You’ll like that they can all be adapted to you based on your interests. These are great to start small and grow over time and they all have the potential to become full-time!
Got questions about starting an online business? Comment below.
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