If you’re considering starting your own online business, you might be wondering what would be the most lucrative type of business to start.
There are many different types of online businesses out there, each with their own pros and cons. Let’s take a closer look at some of the best online businesses to start in 2014:
What are the top 10 Online Businesses to Start in 2014?
1. SEO Services
SEO stands for “search engine optimization.” It’s becoming more difficult to get a website ranked on search engines, so SEO companies that can assist businesses with this are in high demand right now.
There are a lot of companies who outsource their accounting and bookkeeping duties, so if you have a knack for that sort of thing, that might be a great business for you. Online invoicing tools like Freshbooks (aff link) and Intuit’s cloud accounting software for small business account systems make these tasks a lot easier.
3. Social Media Marketing
Social media is being used to promote businesses all over, it’s key in mobile marketing and search marketing. According to score.org, consumers spend 20% of their time visiting online social networks on their personal computers, and 30% visiting social networks on mobile devices.
If you have expertise in promoting brands or businesses on Facebook, Twitter, or the like, this would be a great business opportunity for you. Additionally, there are a ton of easy to use social media marketing and management tools like Hootsuite (aff link) that make it super easy to manage multiple social networks for your customers.
4. Website Design
Companies need good websites – simple as that. If you have a background in designing websites with a sleek and user-friendly design, you should consider starting a web design company.
5. Virtual Assistant business
According to Entrepreneur.com, virtual assistant businesses are one of the fastest-growing home-based businesses out there today. Some of the most popular services requested for virtual assistants include: data entry, research, social media management and travel planning.
6. Online Business Coaching
This is a good business for a person who has already had success in the online business world and can help other businesses.
7. Translation Services
If you know multiple languages and are looking to start an online business, translation services might be perfect for you.
8. Affiliate Marketing
This is a big industry right now. There are affiliate networks like Amazon.com where you can sign up to start promoting affiliate products on your website and earn commission on the leads you generate. According to entrepreneuer.com, some insurance and credit card companies will pay anywhere between $40 and $150 for referrals that convert to customers.
From blogging to website design, many companies are hiring contractors to do these types of tasks. Freelancing offers you flexibility and a variety of different types of work to choose from.
10. Online Educational Services
If you’re an expert on something (could be just about anything from baking to blogging to Pilates) you can probably teach an online class about it.
As you can see, there are a lot of options when it comes to starting an online business. The best thing to do is figure out what your strengths are and what you enjoy doing, and then begin the planning phases of the online business of your choosing.