Hot Online Business Ideas for 2018

Happy New Year! Are you ready for the hot online business ideas for 2018?

The shift is moving to online purchases.

So let’s look at the top online business ideas for 2018. First, I’ll start out with eCommerce ideas. Do you like the idea of having your own store but don’t want the responsibility (and cost) of a brick and mortar? Read on!

White Label on Amazon

This is where you work with a manufacturer to create a unique brand just for you. Perhaps you get a unique color.

You won’t have to deal with the customer directly. Amazon will run ads to your product. But if there are complaints about quality, you may get dropped and then end up with a lot of unsold product that you have to deal with.

Pro’s

You can make a lot of money

You don’t have to have any inventory in your home

You don’t have to do any of the shipping or returns

Con’s

Large up-front cost. Most manufacturers request a minimum order

You need a good legal advisor to ensure a solid contract

Fulfillment By Amazon

This is similar except you stock inventory with Amazon but it doesn’t have to be your special brand. You could purchase in bulk from a wholesaler, or use sites like AliExpress to purchase in bulk. Then you have it delivered to the special Amazon warehouse.

Pro’s

You can make good money

You don’t have to have any inventory in your home

You don’t have to do any of the shipping or returns

Con’s

Keep close track of inventory since you don’t want to run out

You do up-front investment in the inventory, but not as much as the white label

You need to stay on top of the competition. If they lower their price, you may want to make a special package deal so you’re not losing money but you’re differentiated.

Dropshipping

Dropshipping is booming these days. In a nutshell, you set up your store with products and your price. When someone buys, you purchase fro a wholesaler who will then drop ship the item to the person who purchased. The wholesale price is less than your sales price. And you also need to take into account your overhead costs including advertising.

Dropshipping means that they will send the product to the customer without branding on it. Some merchants will work with you depending upon the price of the item. But for the majority of items, you just need to make sure they don’t include an invoice.

Pro’s

It’s easy to get started as there are many tools out there that automate it for you.

You don’t have to manage inventory.

There are millions of products that you can choose from.

You set the price – usually. Some dropshippers of higher priced products often will set limits to what you can charge.

Con’s

There is a chance for higher potential competition

Sometimes the supplier sends the wrong product, and you will have to spend time doing customer service

 

Maybe you enjoy writing and recommending products and don’t want to deal with stores. Here’s some ideas that will be up your alley.

 

Affiliate Marketing Websites

People are still researching a lot online. So if you have useful information online, and an affiliate link, people will buy the product using your special link. You will need to manage the webiste links in case the products or services change.

There are a number of affiliate sites out there including Shareasale and Clickbank, so you’re sure to find something to sell.

Pro’s

You never have to worry about customer support since you’re not selling anything. You’re just making recommendations.

Once you have a page set up, you may want to update it occasionally. However, for the most part, it can bring in sales for years afterward.

You can gather up email addresses and build up engagement by sending emails and recommending additional products and services to people.

Con’s

You won’t make as much money since you make a small percentage of what you’re recommending.

It can be slow to build up momentum.

You will need to drive traffic to the page, and that can include paid advertising.

Copywriting and Proofreading

In case you haven’t noticed, there’s a ton of content out there on the internet. And someone has to write it. Sometimes people will outsource to offshore companies, and they desperately need someone to make it read better. So you have some wonderful opportunities for writing and editing.

Like most freelance work, you will need to have a prospecting system to let people know you’re available and what you can do for them. There’s a lot of types of copywriting including special reports, case studies, blogging, article marketing, email marketing, and sales copy.

Pro’s

You have a super flexible schedule.

You can work from anywhere and anytime.

Con’s

Often, people won’t want to pay what you’re worth. You may have to work low to build up a portfolio, but don’t stay there long. There are a lot of well-paying clients out there. Remember, you’re better off offering a package (like 10 articles for $x) rather than deeply discounting your price for an article because someone isn’t sure it’s worth it.

Video Editor

Are you handy with the computer? If so, you may make money editing video. Usually, it involves removing blank time or adjusting the volume levels. You will need a prospecting system and find a way to let people know you’re available and what you do.

Pro’s

Most people want to publish videos on YouTube to drive traffic but they don’t want the work of production. So there’s a lot of people out there to be your client.

It pays well. (if they don’t want to pay you well, move on. The key to being a successful business owner is knowing your worth and sticking to it)

Con’s

You will need special software like Camtasia to edit.

 

 

Online Teaching or Tutoring

I’m putting these together because they’re similar yet different.

First, you can teach on platforms like Skillshare and Udemy. This involves you creating your own product of videos and additional course material (checklists, recipes, FAQs, etc.). You will need software to create and edit videos and audio.  It helps if you have an understanding of course flow and teaching. And you will need to send traffic. Once you have a successful class, the platform will help you by recommending your courses.

Or you can sign up to be an online tutor. You can set your hours and work from anywhere you want. The pay can be good. You definitely need to enjoy working with people if you want to tutor online.

Which one interests you the most?

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