The world is no longer what it used to be. A lot has changed — while a 9 to 5 job would have propelled you to greater heights of success, things appear to have taken an entirely new dimension.
Of course being employed will give you a peace of mind. You’ll be sure of clearing your bills and saving a little of the amount you make to tide you over in your old age or after retirement.
But that’s just it — to be wealthy, you have to look into the possibility of setting up your own business. Speaking of which, there’s more to starting a business than coming up with a great idea. But even with that, processing a viable business idea sets you up to a solid start.
Choosing the path of business is without doubt riskier than holding a 9 to 5 job. Things don’t magically work on their own. You have to be willing to sacrifice even more –at the same time, be ready to make quick but rational decisions. Not an easy task, but the benefits of being your own boss far outweighs any amount of money you can ever make from holding a day job.
Suffice it to say, all the hard work are bound to be totally worth it.
Having said that, let’s dive right into some of the most profitable business ideas you can implement right now and start reaping the benefits.
Amazon FBA Business
The Fulfillment by Amazon business model operates a lot like an e-commerce business, but there’s a clear distinguishing line between the two that completely sets them apart.
The core reason being it gives you the opportunity to feast off the huge success of the biggest online retailer and marketplace on earth, Amazon.
All you have to do is come up with a creative idea of the line products you’re comfortable selling online, and leave the rest to Amazon.
If anything, Amazon does all the hard work of advertising the products, picking them up, packing, shipping and handling all the customer care headaches on your behalf.
A great idea it is, and it’s what you exactly get by signing up as an FBA seller with Amazon.
Even more interesting is the fact that Amazon strives to make the process of selling your products through their platform less complicated and somewhat straightforward.
Here’s how to go about it:
. – Start by brainstorming the idea of the products you wish to sell through Amazon. Look at their supply and the ability to sell. Whatever you do, you want to be sure that you know where to get your supplies and that the product has a good number of people that might be interested in buying it.
. – It’s also important that you do thorough market research. Focus on how popular the product is, the selling price, and the profit margin you’ll operating with should you decide to go ahead and sell it.
. – Contact the company that can manufacture the products for you. You’d be surprised by how much easier this actually is.
. – Once your manufacturer is done, the next thing you do is arrange for the product to be shipped to one of Amazon’s fulfillment centers.
. – The next thing you do is create your product listing with Amazon and wait for it to go live so you can start making the sales.
. – 14 days after the products sell, expect to receive your share of pay from Amazon either through check or via an electronic fund transfer as determined by you.
We’ve simplified the steps above, but that’s pretty much like it when the entire business model is broken down to its key principles.
Setting up the business isn’t going to cost you much. First, you’ll need to set up a Professional Sellers Account with Amazon, which will only be costing you $40 a month. In total, you need about $2500 to get the business up and running. However, the amount doesn’t include the money you’ll be spending on advertising and professional photography.
If done right, then you can expect your monthly income to range from $1000 to millions of dollars, depending on the amount you’ve invested and the rate at which your products are selling.
This is one of the simplest business ideas on the list to work on. You have different approaches to take, but the simplest and most profitable of them is flipping used textbooks on Amazon.
What you’ll simply be doing is purchasing used books on the platform and trading them afterward through their trade-in program so you can profit from the difference.
We get it, the idea sounds too good to be true. But there exist even more ideas like this out there that only a few people are profiting from, and which you wouldn’t believe if someone was to reveal them to you.
If you’ve been keen on observing, you must have noticed some sellers listing used book at a much more reduced price. What you didn’t know is that it’s possible to trade such a book into Amazon and make some quick buck.
Take for instance there’s a used book with the title ‘Business 101’ retailing at $45 on Amazon. You could buy the book at that amount then proceed to Amazon trade-in where the book might be priced at, say, $75. Meaning, by just buying and trading the book, you’ll be pocketing the $25 difference as your profit.
You have the option to search for such deals manually or to use TextTrader to hasten up the procedure.
The best part is that the business can be started with absolutely any amount of money — and if executed right, it has the potential to make you more than $1000 per month.
Publishing an Amazon Kindle
You’d be surprised by how easy it is for you to publish on Amazon.
First foremost, Amazon Kindle is the biggest and most popular eBook marketplace worldwide. As a matter of fact, the platform is thought to sell more books than the number of physical books being sold out there.
This makes it one of the top places writers turn to after finalizing their books.
What you don’t know is that writing and selling eBook on the platform can be a great source of passive income for you, earning thousands of dollars for you every month with proper execution.
It’s also a great source of lead generation if you’re a coach, freelancer, consultant or an entrepreneur looking to break it big in your area of specialization.
We get that you’re NOT a writer, and that’s where the spirit of entrepreneurship comes in — why NOT hire a freelance writer to develop the content for you as you focus on the marketing plan instead?
Start Offering SEO services
You just need moderate SEO skills to start offering the services to businesses that need it worldwide.
The market is filled with thousands of self-proclaimed SEO consultants, but only a few of them understand the undercurrents and mechanization of SEO to execute it right. You can stand out by sharpening your skills before venturing into it.
The demand for white hat, ethical SEO keeps getting bigger and bigger. It’s, therefore, safe to say that setting up an SEO agency is one of the most viable business ventures to consider as of present.
Basically, what you’ll be doing is helping businesses improve their visibility in the Search Engine Result Pages, and in the end helping them drive lots of free organic traffic.
Meaning you’ll be expected to approach business at some point in your business life. It could be through LinkedIn or straight up pitching to them through cold emailing. The idea of marketing your agency may appear a little difficult at first, but with time, as your business starts to pick, things get a lot easier as some interested businesses start contacting you on their own.
Focus on offering the best SEO services and more business will start trickling in. You also want to invest in a handful of tools that makes your work a lot easier and effective. You want to give your clients the best and in the end, start attracting four figure client retainers.
Also, consider learning about PPC. Figure out the best way to beat your competitors and top them in the SERPs. Once you’ve mastered the skill set, you’re allowed to go ahead and pitch that to a business you think might be interested in outranking their competitors in the result pages.
To start the business, you’d want to invest in a couple of tools that may come in handy in setting you apart from other providers of SEO services. The first tool to invest in is Long Tail Pro, which will cost you about $37 per month and SEMrush which will be costing you about $99 per month.
In which case, you need Long Tail Pro to do thorough research on the keywords to target, whereas ahref and SEMrush help you to analyze your competition and find out where they rank on Google and other search engines.
Start an Affiliate Marketing Empire
This is one of the simplest business models on the list — and if done right, the most profitable and enjoyable one on the list.
In the simplest of terms, affiliate marketing is where you offer to sell products for a broad range of companies on a commission basis. Meaning, you get to earn a certain percentage of the amount the companies are able to sell at the end of the day, with your help of course.
You can start by setting up a niche-specific website and work on getting it ranked in the SERPs. In the site, remember to include referral links that people will be clicking through to the destination store to make a purchase — and when they do, you get to earn a certain percentage of the amount they fork over as your commission.
Hempworx is one of the highest paying affiliate programs that you could make loads of cash by just promoting. Imagine earning up to 85% of the total amount the company sells.
So as long as you’re willing to pump in the hours, there’s a whole lot to gain from the Hempworx payment structure. In addition to their compensation plan being very lucrative, you must agree that it’s one of the most thought out affiliate programs in the market, and which strives to put the needs of their affiliate marketers first over all else.
Starting up as an affiliate marketer isn’t going to cost you much. First, you need about $10 to purchase a domain name, another $10 for some hosting and about $30 for a premium WordPress theme.
Keep in mind that you’ll be required to produce the much-needed content for either reviewing or promoting the affiliate products you’re trying to sell. If you can’t write yourself, then be prepared to start shelling out a decent amount to content mills or freelancers, in general, to help you generate extra content for you.
Peer to Peer Loans
Depending on banks for loans is now a thing of the past. With Peer to Peer (P2P) loans fast gaining popularity, it’s now becoming a lucrative venture to match borrowers with lenders.
Lots of people have a lousy credit score which sort of doesn’t qualify them for a bank loan or something of the sort, so they’ll turn to P2P loans with every chance they get.
Of course, the risk involved is far riskier compared to other businesses on the list, but the dividends that come with it are totally worth it.
P2P loans operate a whole lot like crowd-funding, save for the fact that the P2P lenders will be investing in the borrowers instead, and NOT business start-ups.
So how can one generate money off connecting lenders with borrowers, you ask.
Simple, find an intermediary platform such as the Lending Club, which does almost everything for, letting you reap off the benefits. Other P2P platform options include Zopa, BitBond, and Prosper to name a few.
To understand how it works, imagine a scenario where you come across a borrower on any of these P2P platforms that need about $10, 000. You offer to lend them the money in a full amount, agreeing on an 8% interest rate paid within, say, 3 years. You also have the option to finance the loan in part as other lenders on the platform cover the rest.
With most of the lending platforms, they’ll be taking 1% of the interest, leaving you with the remaining 7% as your profit.
You could make huge amounts of profit off being a YouTube personality. This is one of the most lucrative ventures that’s worth considering if you’re looking to start raking in huge amounts of profit with minimal work on your part.
Although YouTube stopped paying handsomely, becoming a YouTuber is still a great way of adding another income stream to your flow of earnings.
Read this bearing in mind that there exists a number of YouTube personalities that are making millions of dollars out of posting videos on YouTube.
Another great part is that you could use YouTube to promote your products or service, just like you do by posting content on your blog or website.
Website and Domain Flipping
Here’s the thing — you’ve all along been planning to start an online business. But it just so happens that you’ve got limited free time on your hand to get it done. So why NOT consider buying some well-established sites that are already doing great on their own and sell them high?
Same goes with some of the highly sought-after domain names. Imagine buying them at a low price and selling them high for heightened profits.
A good number of website owners want to either sell or buy web properties. As an investor, you got nothing to lose. You simply buy a website that’s already doing great and continue running it until a buyer shows up to get it off your hands after compensating you handsomely.
In the meantime, you’ll still be earning from running the website — whether it’s through adsense, sponsored ads, affiliate marketing or e-commerce.
Some website owners don’t really understand the true value of the sites they own. It could be that they’ve made some serious mistakes with regards to SEO, and that’s the reason their website or blog isn’t performing well enough. Or it could be that they haven’t been able to do a bang on job monetizing their sites.
Whichever the case, flipping websites, and domain names still stand as one of the most lucrative online ventures you can invest in today and start raking in massive amounts of profits in no time.
Stock Trading and Forex
The volatile stock and forex trading businesses are widely thought to be a risky undertaking. All true, but if you choose to start small while researching heavily on the subject until you’re finally able to master the skills involved and start trading like a real pro, the profits that trickle in thereafter are totally worth the effort.
All it takes for you to start earning massive amounts of profits through forex and stock trading is for you to get a hang of it. You have to be able to recognize the currencies or stocks that are likely to increase or drop in value.
The more you master the skill and the principles involved, the more you’re guaranteed of making huge amounts of profit.
To get your feet wet, consider visiting a site like Etoro, where you’ll be provided with trading simulators to practice on as you get to learn about shares, stocks, and currency in general.
Create an E-commerce Store
Lastly, you might want to look into the possibility of setting up your online marketplace or store. With options such as Woocommerce and Shopify, it’s now possible to set up one with a low investment.
Also, with drop shipping, you don’t even need to worry about warehousing or where to get the products to sell.
To start, you only need about $29 per month to operate a Shopify or Woocommerce store, and you have the option to choosing between drop shipping and selling your own products directly through the store you set up.
Let’s Wrap it Up
There goes a list of some of the business you can start today with any amount of capital and get to make huge amounts of profits at the end of it all.
We deliberately left out some ideas and instead chose to focus on those ideas that are quite flexible in terms of initial capital investment.
We advise you to go through the list and pick an idea that appeals to you the most and consider acting on it fast — speaking of which, none of these ideas is of any use to you if you do NOT get to act on it fast enough.
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