Are you searching for the best lucrative online business ideas to launch in 2022 and beyond? This article is a perfect fit for you.
In the world of today, Man’s most innate desire is to always find out how to make more money with ease most especially from the internet.
Money answereth all things the wise ones do say. Hence it’s imperative we continue to make this money (legally) for survival purposes and most importantly, to help make the world a better place.
In the wake of that, most people now are drifting from embarking on offline or traditional businesses and looking to starting profitable online businesses that can stand the test of time.
Undoubtedly, there are several proven ways and unique ideas to make money with the help of the internet. In this detailed post, we will show you some of the most lucrative online businesses and legit ways to make money online in 2022 and beyond. Let’s dive in!
Navigate to any article section using the table of content links below:
- Online business definition and its advantages
- Traditional or offline business vs. online business
- Top 5 online business ideas of 2022 and beyond
- Other top lucrative online business ideas with low investments
What an Online Business Is (And Why It Is Important to Have One)
An online business is a type of business activity that is conducted with the use of the internet. Usually, it involves the showcasing and marketing of products and services to end-users both locally and globally. An online business can be carried out on various platforms like corporate websites and blogs, social media channels, emails, video conferencing and webinars, and so on.
So, an online business idea can be said to be a valuable thought process collated into a finished product and ready to be marketed online.
The world is digital and so should your business. You can revamp your existing traditional business by making it a full-fledged online business or set up a new one. The ‘make money online’ possibilities are endless.
Advantages or Benefits of Starting an Online Business
- Low startup costs
- Prospects and customers can reach you globally
- 24/7 availability
- Round-the-clock customer support
- Energy and time-saving (Time is money– they always say.)
- Make money online 24/7
- Flexibility and independence
- Access to both free and affordable tools and resources for effective marketing
- Work from anywhere in the world
- Multi-channel selling
- Expand your business over time
Online Business Vs Traditional Business: Which is More Lucrative And Easier To Launch?
This might be debatable, but we won’t delve too much into it. Both are good to start, but how quick and easier is one than the other?
As an aspiring businessperson, you might want to consider starting up one before the other, or rather have both running.
Here are a few things to consider when embarking on either an offline or an online business.
To start any viable offline business, It’ll require medium to huge investment capital which covers operational costs, office rents, furnishings, long setup time, etc. Hectic day-to-day activities will also be involved depending on the type of business. While online startups usually don’t have much physical stress, less startup capital, and quick setup time, to mention but a few.
The First Top 5 Online Business Ideas of 2022 and beyond
If you’re looking to make money online, there are quite a lot of different ideas on how that’s done. From our extensive research, here are the first top-five online business ideas that are trending.
1. Affiliate Marketing
Affiliate marketing is an amazing and beginner-friendly opportunity to make money online. It’s considered one of the best and most lucrative online business ideas that have come to stay for as long as the internet exists. All other types of online business models are hinged on affiliate marketing.
This evergreen online business idea is all about promoting people’s products and services online and getting paid a commission (up to 50%!) on each sale you bring them.
Affiliate marketing is a great opportunity because you don’t need huge capital or even an idea for a product.
To get started with Affiliate Marketing, all you need is a blog and/or a combination of other marketing channels or platforms to promote products and/or services sold by different companies, a special affiliate link, and the ability to send qualified traffic to an online offer. From there, you get a percentage of each sale you bring in.
There are hundreds of thousands of businesses offering their own affiliate programs that you can apply to directly. Just look for “Affiliates” or “Partners” in their site footer. There are also notable affiliate networks and marketplaces you can consider, such as Amazon Associates, PartnerStack, and ShareASale.
How to Start Affiliate Marketing
The startup fee is almost free. First, create a marketing platform or a channel to be promoting affiliate products and ensure you are growing your audience on a regular basis. We recommend you promote products and services based on your niche or field of expertise.
To succeed in affiliate marketing, consider the E.A.T (Experience, Authority, and Trustworthiness) approach formula.
Also, it is worth noting that about 80% of all affiliate programs accept only websites and blogs for eligibility. So if you want to increase your chances of making more money with Affiliate marketing, it’s advisable you have a blog. You can create one yourself or request a free WordPress blog setup.
2. eCommerce Business Or Selling Products Online
Starting an eCommerce store or selling physical items online is also one of the lucrative online business ideas anyone aiming to make money online can venture into.
There are two ways to sell physical items online. It’s either you set up your own platform and sell on it, or you sell on social sites like Facebook and Instagram shopping, and on popular global eCommerce marketplaces like Amazon, Aliexpress, eBay, Jumia, Esty, Walmart, and so on.
When you choose to set up and sell on your own platform like WooCommerce, you’ll retain all your sales profits, have full access to collect customer data, and have full control over your online store activities. However, this is quite the opposite of when you choose to sell on popular online marketplaces. Whichever way you choose to start selling online is lucrative.
You can sell physical items and digital products either on a B2B or B2C level.
How to Start An online store or e-commerce business
We recommend you sell on third-party marketplaces if you have a few items to sell. Browse some local or international marketplaces in your region and start on a small scale. Then, after a while, you might consider migrating to your own platform for more profitability. You can start an online store with any of these e-commerce platforms:
3. Freelancing Or Selling Your Services Online
Freelancing business is one of the most highly-engaged online businesses nowadays. You can make a consistent amount of money if you have in-demand skills such as writing, video editing, coding, marketing, designing, and lots more.
With freelancing, you have the flexibility to choose your own time of work, set your own pricing, choose the number of clients you want to be working with, and so on.
The most popular demand is freelance writing. Whether in form of blog posts, sales pages, email copywriting, or whitepapers, brands depend on it to attract leads before closing sales. Bottom line? you can make good money as an experienced freelance writer.
Asides from freelance writing, you can choose to scout for remote online jobs related to your niche or skill from online platforms like LinkedIn, Reddit, and some popular work marketplaces.
Just like the same approach to eCommerce, freelancing sites usually take a percentage of your work pay unlike setting up your own platform to scout for online jobs.
Starting a freelancing business helps you connect with both individuals and companies directly and make more money when you set up and manage your own business website.
How to start a freelancing business
Continually hone your skill(s) and sign up and complete your profile on global workplaces like Fiverr and Upwork to be applying for jobs. Make sure you do perfect jobs for clients and keep to deadlines once you start getting jobs so that you can keep making unlimited money. Once you start making money on those platforms, we recommend you get a website with a portfolio to be showcasing your past and recent works.
4. Podcasting Business
Do you know how to communicate professionally? Are you good at public speaking? Can you persuade people to take some action with your voice? And you want to host your own talk show? Then, podcasting is the best and most lucrative online business idea for you.
One great feature of podcasts is that they’re audio-based, so even busy people can fit it in while doing other chores, or before going to bed. These days, several people listen to podcasts. With Podcasting or Podcast Hosting, you can build your brand by having a community online through each episode of the podcast you release every week.
Making money from podcasts is very realistic. You can monetize your podcasts with affiliate marketing, advertising, or sponsorships. You are bound to rake in consistent cash as long as you produce regular content that helps your specific audience solve their problems.
How do I start a Podcast?
Anyone can start a podcast as long as what you want to offer is interesting and valuable. To start with, you will need to get some podcast recording tools and host your audio in form of episodes on streaming platforms like Apple Podcasts, Google Podcasts, iHeart Radio, Spotify, and so on. You can achieve this and many more by using podcast hosting platforms.
The two best platforms to launch a professional podcast for free are Buzzsprout and Blubrry. With Buzzsprout, you will even get a free WordPress site to showcase your podcasts if you don’t have a website. And also with a free 90-day trial.
5. Trading Forex, CFDs, Cryptos & NFTs
No matter how you make a living, trading cryptos, forex and CFDs is one of the LUCRATIVE business ideas to grow your income and wealth over the long term. You can create wealth by investing in cash flow assets that make money while you sleep.
Wealthy individuals don’t save their earnings in the bank. They multiply it through investment portfolios. Some thriving online investment portfolios of 2022 include forex, commodities, cryptocurrencies, and NFTs.
Speaking of NFTs (non-fungible tokens) which operate on blockchain technology like the Bitcoin (BTC), is one of the latest ways of making money online. You can discover, buy and sell exclusive digital collectables (from video games to art pieces, etc) on some notable platforms while you make a substantial amount of money repeatedly.
However, this type of online business idea requires some capital to start, and therefore, it’s advisable for newbies or novices to stay updated with what’s happening in the forex and blockchain markets before putting in their hard-earned money.
How to start trading Forex, CFDs, Cryptos and NFTs
Just like forex and CFDs, cryptocurrencies and NFTs are everywhere today. While some people are still skeptical about it, there are many who believe in the blockchain market and its potential to revolutionize how we do business, transfer money, and more.
The content of this subsection is for informational purposes only. Forex and Crypto Trading without having extensive knowledge of them are hazardous. Kindly ensure you do your own research. If possible, seek professional advice before making any decisions.
Successful online trading demands skill. If you’re looking to get into the crypto game, then you’ll definitely want to check out these top crypto trading platforms below. They offer trading of cryptocurrencies, P2P (Peer-to-Peer) services, NFTs, etc at lucrative deals.
Also, some of the best forex and online stock trading platforms where you get to trade gold, oil, etc are:
Other Top Lucrative Online Business Ideas With Low Investment To Launch In 2022
1. Become An Online Sales Consultant
This online business idea has been on for decades and it’s mostly practised by popular e-commerce and real estate companies. It’s a bit similar to affiliate marketing but with a different payment model. The process requires signing a contract as a sales agent with an e-commerce company to place orders on behalf of your customers. Once that is done, you’ll get a commission based on each product you sell.
A typical example of an eCommerce sales consultant is an operator of this Facebook page which promotes popular African e-commerce companies like Jumia.
Unlike e-commerce, becoming a real estate sales agent is not much of a work-from-home model, as you will be scheduling inspection routines with prospects.
How do I become an online sales consultant?
First and foremost, you will need to do research about the companies you would like to sell for and approach them via email. Sometimes these companies scout for interested sales consultants on their websites. Also, make use of some of these online marketing channels to help you sell better.
2. Sell Digital Products
Digital products can come in form of ebooks, audio & video, etc. Selling digital products can be a lucrative business idea as long as the products are valuable. With this, people are willing to buy on a consistent basis and even refer more buyers.
Creators, influencers, and bloggers are more predominant in this field of online business.
How do I start selling digital products?
There are several platforms through which you can sell digital products. If you have a WordPress site, we recommend Easy Digital Downloads for selling digital files. It’s relatively easy to use and includes all the features you need to create your online store.
If you don’t have a website yet, you can create a Storefront with a Paystack merchant account for free and list your digital products for sale. The selling of Digital Products is enabled for all Paystack merchants by default. However, this is only for Africans.
For example, take a look at the TemydeeDigital Shop on Paystack which sells both fictional and non-fictional ebooks and some other digital products and services. You can sell, PDFs, MP3s, Videos, and even webinar sessions with the Paystack digital storefront.
3. Become An Online Tutor
Do you have a passion to teach people? Yes, you can monetize your teaching skills online by offering online courses to interested students for a fixed sum of money. The model of payment can be a one-time or recurring fee depending on how you schedule your classes.
How do I become an online tutor?
There are two ways you can start this lucrative online business. It’s either you partner with a popular e-learning platform like Fiverr or you set up your own. Having your own e-learning website with WordPress pays more because you’ll keep 100% profits to yourself. However, this comes with advantages and disadvantages. You’ll have to weigh the two options and choose one. Here’s an article that can be of help.
4. Sell Online Courses
One of the biggest benefits of running an online membership business is bringing in a recurring income. Did you know it is very easy to create, market, and sell your knowledge and expertise? Yes, it’s very possible and you can make a good amount of money doing this online business. If you want to go beyond consulting, tutoring, or selling ebooks, you can package what you know into a course and sell it online. As long as it’s beneficial and worth the value, you’ll constantly get more patronage and referrals from your targeted audience.
How do I begin selling online courses?
The fastest and quickest way to sell and grow your courses online is through webinars as people these days prefer learning through videos. A perfect webinar tool to scale your courses is EasyWebinar. Also, If you prefer your courses to be managed for you, then try to sell on third-party platforms like Fiverr. And perhaps you already have a WordPress site, you can easily create and manage your courses by using MemberPress. All these options are good and lucrative.
5. Offer Online Consultation Services
A consultation is a one-on-one audio/video meeting with a client. They can ask you questions, share their scope, and get your expert advice. By doing this, you are selling your expertise.
If your knowledge is valuable, prospective and existing clients may want to seek out your subject-matter expertise for developing their projects. Now you can get paid to share your knowledge by creating a consultation service platform.
With an online consultation service, you can:
- Increase your earnings.
- Set your own rates and availability.
- Build your client network for potential longer-term work.
- Have clients book time on your calendar directly from your website.
- Get paid for your time.
Just choose when you’re available to meet, set your rate, and let clients come to you for guidance. If this is what you know you are good at, then, We’ll encourage you to start offering consultations right away. Online consulting service is one of the best and most lucrative online business ideas one can venture into now and last a lifetime.
Our Final Thoughts On Lucrative Business Ideas To Make Money Online
All the above-mentioned online business ideas are well proven by thousands of people and they are still viable today.
Online businesses can be as lucrative as any traditional business if one puts in the effort to always learn. The more you learn new ideas and take the right steps of action, the more you earn!
In order to be successful in any online business venture, we strongly advise not to dwell on too many of them at the same time. Conquer one at a time and move on to the next. And before you know it, you already own an online business empire.
Above all, make sure to always offer quality products and services that will retain customers and earn you more referrals.
If you’re still having difficulty deciding what type of online business to start, consider bookmarking this guide to use as inspiration as we’ll be regularly adding more. Most of these online businesses have relatively low costs and are easy to start.
Lastly, Smart entrepreneurs know that it’s almost impossible to grow their own businesses on someone else’s website. Hence, we encourage you to get your own WordPress website. Learn to create one for yourself or let us help you create one.
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