2024 is a great year for starting an online business. Launching your own online business allows entrepreneurial individuals such as yourself to work anywhere in the world, provided you have a laptop or tablet or smartphone and a dependable internet connection. With those things in hand, you can turn your passions and skills into a lucrative side hustle – or even into a full-time career as an online entrepreneur.
Start by considering your natural strengths. What are your strengths? What are you great at? What do you love doing? Also, consider your resources and the resources that you may need to succeed as the owner of an online business. While some online businesses require very little capital to get up and running, others require more effort and resources.
With that in mind, lets uncover seven online business ideas and ecommerce business ideas that you may consider on the road to making your dream of being a self-employed entrepreneur a reality. And the great thing is that there are many online business opportunities from home available to you.
1. Start an eCommerce store
eCommerce websites have seen a huge jump in popularity in the wake of the COVID-19 pandemic. Australians who are unable or unwilling to travel, shop online now more than ever. Perhaps you want to start an eCommerce shop selling products that you are passionate about, or focus on an industry with high profit margins.
It doesn’t matter what you sell, a website that is attractive and user-friendly is crucial for making your new eCommerce store a success. Today anyone can quickly launch an online store using templated and cost-effective website designs.
2. Become a virtual assistant
One of the more popular small business ideas is becoming an online virtual assistant (VA), which might be worth looking into if you are highly organised, have an uncanny ability to multitask, and can pay attention to details. VAs are usually responsible for administrative tasks such as data entry, customer service, and research. Some VAs specialise in areas such as basic graphic design or social media management.
3. Start a bookkeeping business
You will be responsible for maintaining the financial records of clients, including creating invoices, cash flow monitoring, and financial statements. Cloud-based accounting software makes it possible for businesses to share financial information with bookkeepers from anywhere in the world.
You may also consider completing a formal qualification as a bookkeeper or accountant if you are interested in this career path. If you provide specific services, you may need to register as a BAS agent.
4. Develop an online course
Consider creating an online course if you are an expert in your field. Online learning is becoming increasingly popular and people are open to learning via different models. Online courses come in many forms. Some require students to pay for a one-time download and then work at their own pace, while others allow students to learn by watching video tutorials to track their progress, or have a scheduled online syllabus that is followed up with regular video calls.
You may use your business skills to help learners improve their public speaking, increase their sales prospects, and become better managers. You could also offer an online course that teaches people how to make bread at home, grow vegetables in their backyard, or improve their physical flexibility.
5. Become an app developer
As people now use their smartphones to manage their daily lives, mobile apps are becoming more and more popular. If you have programming skills you could start your own app development company online. Clients may come to you to create a specific app for their business.
There is currently a large market for app developers. You can generate revenue from your apps in many ways, including billing for the initial download, charging for premium features, or selling ad space.
6. Online consulting services
Online consulting is a great way to share your knowledge, skills, and experience. You can choose to specialise in one area, such as marketing or financial consulting. Or you could opt for a more specific niche, such as social media marketing or search engine optimisation (SEO).
7. Become a copywriter
A lucrative online career as a copywriter is possible if you have the required writing skills and impeccable grammar. Copywriters write content for everything, from websites and brochures to blogs, product packaging, and even products themselves. You may choose to specialise by industry, such as health copywriting or financial services copywriting, or you might focus on one channel, such as websites, blogs, or print advertisements.
How BizCover helps online start-ups your online business with business insurance
Whichever online business ideas you have in mind – even if they are part-time business ideas – remember that business insurance can help to reduce your risk.
Discover insurance for online business to compare competitive insurance quotes for your online business, get covered in only 10 minutes, and get back to working on your online business. If you’d like speak with us, you can reach our friendly team on 1300 920 867.
This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
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