The way we work has changed irrevocably, and there are more people than ever before working from home or looking for opportunities to make changes. Although traditional employment will never die away completely, there’s a surge in interest for alternative income streams.
An online business is ideal for many people, enabling them to get started quickly and easily without any high costs. But with so many possibilities to consider, what types of business offer the best opportunities? Here’s a look at four ideas which you can start without any delay.
Trading on the Stock Market
Stocks and shares may sound like a complicated option, but the stock market is an enormous arena with many potential routes to pursue. Conventional stocks and shares can be more complex, and it’s not as easy to make money during an economic downturn.
The foreign currency exchange, known as forex, is very different. Rather than buying and owning shares, with all the legal implications, trading on the forex market is all about predicting whether a currency is likely to rise or fall in value. If you’re interested in how the forex exchange works, many online guides can introduce you to the basics of trading.
You can trade in the forex market, either full or part-time, picking the hours you choose. You can start with low-value trades to build up your confidence; it’s a business that offers you complete flexibility. You will need to do your homework and keep up with current affairs, but there are many online resources to support you at every level.
Blogging Online
It’s a niche that has exploded in recent years, and there’s now a large number of bloggers in almost every subject that you can think of. However, if you are a strong communicator and have something interesting to say, it’s still an avenue that can be very lucrative.
Being knowledgeable is vital as your audience will quickly drift away if you’re not authentic. If you know your stuff and are relatable, you will build up a following as people return to hear what you have to say. At this point, you can start to earn money by attracting advertisers or promoting brands via affiliate work.
Other blogging options include offering online courses in your specialist subjects, but this isn’t strictly necessary to make money.
Freelance work
If you don’t want to be confined to one particular area, freelance work is widely available. The benefit of this is that you can utilise different skills and also set your own rates.
Some of the most common types of freelance work include copywriting, data entry and web design. There are plenty of more specialised types of freelance work, too, so you can match your skills to where the demands lie.
To get started, you can either set up your own website and advertise, or you can join up to freelance sites such as PeoplePerHour, Upwork and Fiverr.
Sell Domain Names
The sharp rise in online commerce means that many businesses are looking for a snappy domain name. Buying and selling domain names has become a legitimate business model for those who are able to identify keywords that are likely to be popular.
There are sites where you can purchase either expired domains or new names at a bargain price. You then go on to sell these at a profit to businesses who are interested in the keywords. Simple but very profitable if you’re astute at spotting where the demand lies.
