online business ideas

Top 10 Online Business Ideas in 2020 – How to Make 10k a Month

Top 10 Online Business To Start In 2020Tired of your 8 to 5 job and hoping to make money online even while in your PJs? Can’t blame you for thinking that way.

After all, who wouldn’t want to earn some cash in their sleep?

Before you throw in the towel and start an online business, you have to figure out what works best for you.

Is it something leaning towards your hobbies or interests, so that you can have fun along the way? Or is it something out of your realm of expertise that will require a bit more time and effort?

People from all over the world need help to meet their goals. Maybe they want to get healthier through a plant-based diet, or perhaps they want to learn how to surf or play the guitar.

Or maybe they want to buy parts to build racing drones, manage their time better, gain muscle, or lose weight.

If you’ve got the skill and know-how to assist these folks, and if you can provide viable solutions to their needs and wants, then you have to go for it!

Whether you’re looking for the best online business to start with no money or you have the cash to invest, this post will help you get started either way.

Here are some excellent tips, tricks, and hacks that you can actually use, right now, to make money on your own.

These ideas are all pulled from the 5 steps every online business needs to guarantee success.

Why Start An Online Business?

If you'd prefer to listen to this content from the video above, you can get the list that way. Otherwise, just keep following along!

The beauty of starting your own business is that it feeds your wanderlust and allows you to travel as you stay on top of your cash flow.

It is no wonder that a lot of people are getting into the world of online business and entrepreneurship, and are slowly tearing themselves away from the daily grind of working 40+ hours per week. There are even those who choose to do it full-time and ditch their day jobs altogether!

I mean, if the income is double, triple, or maybe even 10x their previous paycheck, what’s holding them back from diving in entirely, right?

When choosing an internet or lifestyle business to start, you want to make sure it hits these three points:

  • Provides the freedom to live anywhere you want
  • Allows a flexible work schedule
  • Achieves high-income opportunities

It’s almost like semi-retiring early, except you don’t have to wait until you’re old and gray. And, you can keep $$$ coming in, even without leaving the house!

How to Start Your Own Business

When starting your own business, you can get it up and running anywhere and anytime you want without having to shell out tons of money. And trust me, anyone can do it. You don’t need to have a Ph.D. or an inch-thick collection of training certificates to get started.

But as with any business, it takes time to take off, and that’s why you need to know and understand why you want to start a business online FIRST.

You need to nail down your reasoning before you decide which one of these remarkable 10 internet business opportunities are for you.

If you don’t have your "why start" determined yet, do not skip this step.

A business is not easy, and your ‘why’ has to be larger than the bumps you will encounter to persevere. Long-term business success is the goal.

Go through the Ultimate How To Achieve Lifestyle Design Exercise if you do not have your business end goal defined. This small deviation is a very wise thing to spend time on, and should help you to break down the barriers that are keeping you from starting your online business today.

All other perfectionist tendencies are just excuses.

Top 10 Online Businesses To Start in 2020

top 10 online businesses

All of these businesses provide the opportunity to make money fast.

The key to real success, however, is a long-term vision.

What you don’t want to do is stand around waiting forever to get started!

Choose one, get going, and always make integrity a high-level priority. You want to build a positive and lasting relationship with your very first customers, so that you can keep them purchasing again and again.

When you do this right, you will not have to start from zero again; a fundamental element to starting a successful business. Start from zero once, sell excellent products and services, take care of people, and successfully build a lifestyle business.

Now let me share some of these amazing online businesses with you. One of them may just be the ‘magic idea’ that suits you best.

Let’s get it started with number-one…

1. Selling Information Products

selling information products

Are you an expert in your field, or do you know more than the average person about a specific subject or skill?

If you have adequate skills or knowledge pertaining to a particular topic, then you’re one or two steps ahead in answering your ‘why to start a business' question. You are also potentially set up to make some serious passive income every month, without the need to start any sort of online store with physical products.

You can use your knowledge and skills to build people up while making some cash along the way!

Establish yourself as an authority in your niche, and strive to be the best in it. You should always choose a niche topic that you’ll never grow tired of learning more about. Passion can be an important tool, because it will keep giving you the energy to press onward… even when you hit bumps in the road.

With this particular business opportunity, people create their YouTube channels and websites, conduct webinars, or write eBooks to share their expertise with others who may be willing to subscribe, or even pay, for what they have to offer.

Then, their customers trade their email address for a free thing... and you can start marketing to them right away via email.

Do you have plenty of travel hacking tips? Do you know enough to teach people how to do digital marketing?

Whatever that niche may be, as long as you have the skills and a strong desire to keep learning, then you can sell these solutions in the form of an information product. Informational products are one of the largest online business markets out there.

It also doesn’t take much to get started with this type of business. Launch your blog, shoot those videos, advertise on Facebook, and build an audience. With 3.2 billion people (or 40% of the global population) being internet users, there’s no better time to jump into this business opportunity.

Right now, you can take advantage of these figures when you sell your informational products… because you can basically sell to everyone. Going online is indeed the way to go!

People are Searching for Information Online

  • 8 out of 10 people from developed nations go online
  • 21 out of 61 people from developing countries use the internet (ICT Facts & Figures)
  • About 40% of US companies market their products and services using blogs (eMarketer)
  • 34% of Fortune 500 companies have had active blogs since 2008 (Forbes)
  • Companies with blogs get 97% more links to their website (HubSpot)

Deliver Information to People on Facebook!

Facebook is another platform that you can utilize to share your information products.

Check out these impressive figures:

  • In Q3 of 2017, the net income of Facebook was $4.7 billion
  • Facebook is THE #4 most valuable brand ON THE PLANET with $73.5 billion in value
  • 1.37 billion active users use Facebook every day

If you have authentic information to share that isn’t just a regurgitated version of something else that’s already out there, then you can absolutely gain people’s respect and confidence.

Build a marketing funnel, send some Facebook traffic to a lead capture page, and sell information products. This is all possible when you email market the right way.

Once you get people hooked on what you’re selling them, you will begin to see an influx of forever clients and returning customers.

2. Affiliate Marketing

Affiliate Marketing

No time to cook up your own products to sell? Why not use affiliate marketing to make money from home each month? With this business model, you can establish an online business by featuring other people’s products on your website and selling them.

When going this route, you should stay focused on your niche and team up with a reputable affiliate network. You should also work on becoming a pro at copywriting, and educate yourself in using effective techniques for lead generation, conversion, and sales. It’s what affiliate marketers do, and it’s what YOU can do, too!

Getting some copywriting experience is one of the keys to making this work.

You can feature either physical or digital products, and then set up your affiliate links. Next, produce quality content that will entice your readers to perform an action. In this case, you want them to click on your affiliate link and make a purchase.

Each time an audience member clicks on a link and subsequently makes a purchase, you’ll receive a percentage of the sale. It’s really that simple!

Plus, there are tons of affiliate marketing jobs online.

Impressive Stats for Affiliate Marketing

  • 15% of the total digital media advertising revenue is attributed to affiliate marketing. (99Firms.com)
  • Affiliate programs generate 15%–30% of all sales for advertisers.
  • More than 80% brands use affiliate marketing. (Rakuten Marketing)

According to the balance small business, here are the top 10 Affiliate Marketing Niches

  • Fitness and Weight Loss
  • Health
  • Dating and Relationships
  • Pets
  • Self Improvement
  • Wealth Building Through Investing
  • Make Money on the Internet
  • Beauty Treatments
  • Gadgets and Technology
  • Personal Finance

This is a great business opportunity; however, you have to resist the temptation to recommend less than desirable products to make a quick buck.

Sure, you can write excellent copy for the product, and yes, they might take your word for it and buy it. But, it’s an unethical way to conduct an affiliate marketing business.

Plus, your chances of getting a follow-up sale on your next advertised product are going to be slim in such cases. This is a good way to lose for good in your online business.

How to Win in Affiliate Marketing

To win in affiliate marketing, offer value and be authentic. The goal is to develop a solid relationship with your audience. This is especially true with your email list.

And you can only earn that with honesty and integrity in mind.

In affiliate marketing, your commission is going to depend on what you’re selling. Some people in the affiliate marketing business make as much as 75% commission from a digital product.

Physical products, on the other hand, typically earn between 2% - 10%. But when you sell hundreds of those physical products, that’s still a pretty good online business opportunity.

Also, if you do affiliate marketing for the best web hosting company, the best keyword research tool, the best membership programs, or other digital products that come with a subscription, you can also earn a monthly recurring commission for each referral when you offer to send people to those resources as well.

This gives those companies more advertising, and gives you commissions based on sales!

Mention these affiliate products in the description section of your YouTube videos, email list, Podcast show notes, or a super simple affiliate marketing funnel. Affiliate marketing can be applied to most business models, so you can solely do affiliate marketing, or, you can do it in combination with your current business.

If you like the idea of becoming a successful affiliate marketer, read this post next: https://www.milesbeckler.com/make-money-with-affiliate-marketing/

I break down the exact steps in even greater detail about how to become a successful affiliate marketer in that one!

3. Coaching, Courses, and Consultations

Coaching, Courses, and Consultations

People buy courses and pay for professional advice all the time.

Why?

Because it’s a great way to succeed at something that you want to succeed at!

Want to know how to lose weight fast? You’re bound to find dozens of weight loss coaches in just a couple of Google searches.

There’s a high demand for coaches and consultants in specific fields… most of these being in health, fitness, and online marketing.

And this is where you come in. If you’ve got a service or training course to offer, then starting an online course, consultation, or coaching business is for you!

These are great ideas for online business ventures!

Say you want to teach others and train them to become adept in a valuable skill, or you want them to become healthier and happier.

If so, then starting an online course or consultation service can be a fantastic way to make money in your own business.

Whether you’re doing coaching, courses, or consultations, you’ll need to gather up some tools... such as an email and messenger service, calendar for organizing schedules and appointments, video calling software, and your payment system.

You also need to set up your tools for communicating with your clients. There are video calls, screencasts, file transfers, group calls for e-learning and webinars, and live chat options to consider for your business. All of these tools will assist you in becoming more effective in the services you offer through your internet business.

Here are some awesome facts about this online business opportunity:

Annual Growth of the Top 5 Domains in Online Consultation:

  • Healthcare - 7.1%
  • Education - 4.8%
  • Management - 3.6%
  • Marketing - 3.6%
  • Business Coaching - 3.5%
  • Personal Training - 3.2%

Industries with the Steepest Fees:

  • Strategy Consultants
  • Operations - Management
  • Human Resources
  • IT Specialists

Once you open up your doors globally, you can turn any skill into something profitable, while also helping other people to develop or strengthen new skills.

So really, it’s a win-win situation... because as you help others, you make money along the way!

Here are some pro tips to take your consulting business to the next level!

  • Fill in pressing knowledge/skill gaps
  • Establish relationships; revenues come second
  • Provide results
  • Offer flexible payment structures
  • Gather client feedback
  • Keep updating your skills

One more thing; if you want to turn this into a recurring monthly income for yourself, then you should consider setting up a paid membership program or monthly coaching program. As long as these people keep subscribing to your course, your business is going to grow.

And of course, the money will follow.

4. Membership Websites And Membership Programs

My good friend Dave Woodling says that “recurring income is the Holy Grail of income,” and I totally agree!

And the great thing about membership program businesses is that they can allow you to do one body of work each and every month, that you can then go on to sell hundreds… if not thousands of times… over and over again.

What Do You Include In Your Membership Program To Make It Successful?

Well, you need to base your membership program around what you have been doing… something that you’ve gotten great results with, that will also help other people with a problem they are having.

This could be anything, really. But the idea is that you start a membership program to help people succeed in something that they don’t know how to succeed in, and they pay you for the easy access to the information.

I use my forum for my membership program. Here, people can access my trainings, get my advanced trainings, ask me questions as they go through them, and get that individual, one-on-one help.

This makes my membership program a little bit unique… because it also incorporates bits of ‘coaching’ worked into the mix.

Now, my wife’s membership program is a little bit different. It is basically an on-demand access to a vault of past paid content. This includes video courses, PDFs, MP3s, and all kinds of other things.

She essentially keeps putting her best work into this program, so it keeps getting updated with new stuff… and keeps building up in value.

At this point, it is almost like a ‘learning management system’ where members can log in, download what they want, and go at their own pace.

Why Are Membership Sites So Good As A Business?

Membership sites are awesome businesses because once you make that sale, you can continue to earn income from it for months… or even years to come.

As long as you continue to deliver fantastic value to your customers, your membership program will continue to work for you and earn you income on a monthly basis.

5. Selling Digital Marketing Services

Selling Digital Marketing Services

Digital marketing services give local businesses the option to advertise to a vast number of people; a lot more people than they’d be able to reach without an online presence. It’s not at all uncommon for businesses to be on Facebook, Instagram, Google, and more.

Digital marketing is, honestly, much bigger than just putting ads up online.

This is where you come in as a potential business owner helping businesses to gain exposure, which can be a fantastic opportunity for you to earn money from home. Create a successful local marketing strategy that gets results, and you’re in business.

Why not start an internet business selling digital marketing services? Take a look at some of the ideas you can choose from:

Graphic Design

Graphic Design

Got a knack for designing? Then it’s time to sell your talent to business owners looking to get their fancy promotional items, logos, and business cards made. Do a couple of jobs for free or at low cost to get your foot in the door, and start making businesses some super cool logos, flyers, mailers, business cards, print or digital ads, and other designs.

You will then be able to quickly build up your portfolio while having a bunch of happy clients telling their business friends about you.

SEO Writing and Content Management

SEO Writing and Content Management

Are you a wordsmith, SEO (search engine optimization) genius, or both? Then you’ve got a gold mine within you! A flashy website doesn’t mean anything unless it shows up on Google. That’s why businesses need a skilled individual to get their websites ranking high on the search engine result pages.

If you’re a self-learner, skilled at SEO and content management, and have enough dedication, then you can build your own authority site. You can then begin focusing your online business towards these digital marketing services.

Here are some quick facts for you about SEO writing and content management:

  • 53% of online marketers used blog writing as their #1 inbound marketing technique in 2017 (HubSpot)
  • In 2017, e-commerce business traffic came mostly from email marketing and SEO while content marketing and affiliates are less frequently used channels (Marketing Sherpa)
  • Content Marketing - 20%
  • Artificial Intelligence and Machine Learning - 14%
  • Big Data - 14%
  • Social Media Marketing - 14%
  • Marketing Automation - 9%
  • Mobile Marketing - 9%
  • Conversion Rate Optimization - 5%
  • Search Engine Optimization - 4%

If you are skilled in SEO and can create excellent content that’s worth reading, then you have valuable digital marketing service skills to fill a very important business need.

Providing these kinds of services is a great way to establish your online business... and also offers high investment returns. So, put your writing skills to good use... and start making money doing what you do best.

Social Media Management

Social Media Management

Likes, shares, and social media engagement have become proven methods for companies to expand into the online business world. They can also help businesses gain followers, who later on, can also be converted into customers.

Is it possible that you can start a business as a social media consultant?

As a basic example, say you come across a post for a business in your local area. Initially, you might give it a like and then later remember, “hey, I’ve been meaning to check this place out.”

Or maybe you give a company page a like, and then later on, make a purchase from them.

A lot of in-house and online businesses alike outsource their social media management jobs to people who can create posts and share them across all platforms. They do this to reach new audiences and drive more people to their products and services.

But is there room for you in this niche? If you’re good at it, can you try to sell digital marketing services and grow your online business?

  • 30% of online time comes from social media
  • There are 8 billion views on videos posted on Facebook per day
  • 96% of consumers (18-34 years old) watch a video at least a few times a week
  • 75% of millennials check out a social video daily

Which means…

  • 80% of online traffic from consumers will come from videos by 2020 (Source: Animoto)
  • Every single day, users watch over 100 million hours of video content from Facebook (Source: MediaKix)

As you can see, the potential to sell your digital marketing services in the form of social media marketing, and earn money from home doing so... is substantial. Therefore, if you can write, and also effectively handle a businesses’ social media needs, then this is an excellent online business opportunity for you.

Websites

Websites

Do you know how to build an online website? Another good way to make money while working from home and starting an online business is by selling WordPress sites. You could work as a developer to build ecommerce sites, help them to get found by search engines, and help people develop their own business ideas for online web pages.

Local businesses who have a website can effectively validate their brand, increase their reach, generate leads, and more. Every business needs one, and they are expensive!

Do you have a friend who owns their own business? Build one for them for free to get started. You can also build a couple for yourself, and start selling them.

But wait, there’s more. After you help your clients create a website for their online business using something like the WordPress platform, you can then offer additional digital marketing services such as SEO and social media.

If you have the talent, you can additionally offer a few of the online business ideas we have already covered, and get several awesome businesses going at one time.

Once they’re happy with the site you’ve made for them, and they know you live up to your promises, it will be easier to sell those additional digital marketing services to them in the future.

Maintain an excellent reputation with these new customers. Not only will they become your finest repeat customers, but they’ll also be more inclined to refer you to their friends and colleagues.

Digital Marketing Arbitrage

Digital Marketing Arbitrage

This is one of the fastest ways to learn online marketing.

I did this myself for three years. The experience I gained sped up the learning curves of website building, social media management, Facebook advertising, SEO, and email marketing... just to name a few. I also developed many other skills necessary for our current online business.

You can effectively become a quality control coach outsourcing all of these projects to freelancers on Upwork, Onlinejobs.ph, Fiverr, and many other freelance websites. If you’d like additional information and insight on digital marketing arbitrage, check out my video explaining the ins and outs.

The really cool thing about outsourcing these virtual jobs to, say, the Philippines or India, is that you can spend your time during the day meeting up with clients. And then, by the evening, you can send out your assignments to your virtual team. Because of the time differences, they can work on those assignments overnight, so you’re able to get twice as much work done with this online business model.

To make money with this model, find businesses that need digital marketing services, social media help, blogs, or graphic design. You then sell them the contract, outsource the job to freelancers for less, and coach them to produce a quality product for your client.

To build your reputation and prove you can follow through with what you say, you can initially offer your services for free or at a deep discount, to make sure that you can pull off what you say you can do and begin to build that credibility.

Most of these virtual assistants are outside of the US; at least the ones you can pay and still turn a profit. Effective communication with someone outside of the US requires a different art form and a lot of attention to quality control. You can’t merely say "make a logo look like this," and email it to me in two days, then deliver it to your client.

Digital marketing arbitrage isn’t for everybody, but I highly recommend it. In fact, if I had to start all over with no money, digital marketing would be the pure hustle business that I would start.

6. Freelancing And Virtual Assistant Work

freelancing virtual assistant

Freelancing actually gives you an easier method for getting started than starting a full-fledged digital agency.

Obviously, you can freelance in areas like SEO, copywriting, etc. But you can also do things like transcription, video editing, making show notes from podcasts, editing audio, translating documents, translating books, etc.

The main thing you need to get started as a freelancer is experience. Advertising can also be a challenge... but finding clients gets easier as you start putting real, measurable effort into it!

How To Get Started As A Freelancer

First, you have to figure out what you are good at.

Are you good at Photoshop? Are you a web developer? Can you build an app? Can you design awesome ads? Are you great at advertising? Do you have experience with search engines? Are you a copywriter? Are you good at copy editing? Are you good at proofreading? Can you crush it at video editing?

For this type of business, you need to play to your strengths and do what you are good at.

You should also strive to choose a niche that you love.

Finding work as a freelancer, at that point, is mostly about finding other businesses (including ecommerce store businesses) that want to pass off some of their workload to someone else.

This could be digital businesses, a local company, brick-and-mortar businesses, ecommerce stores, business owners… your clients could really be anyone who is already making money, who is looking to scale, and needs skilled help to make that happen.

You could step in and fill a role for these types of clients as a freelancer… and this would get you out of that 9-to-5 job grind, where you could get some flexibility and open up your opportunities a little bit more.

You could then leverage that to go on and start your own digital marketing agency, or work on building up another side-hustle or passive income business of your own.

7. SAAS - Software As A Service

Software As A Service

Want to solve people’s biggest problems with software, or become a software developer and build tools to help your clients? Well if you do, then software as a service could be the perfect home based business opportunity for you!

People would gladly pay for, subscribe to, and use software that proves to be relevant to their needs.

Here’s how you can turn SaaS into your online home business:

First, design and create a program or software product that would help your clients. You can either create a program or software product yourself, or you can outsource the build to an app developer. You can then begin to sell your product and offer subscriptions for recurring cash inflow.

If you’re the type who geeks out on software design and development, then this online business model is right up your alley. Can you think of an enormous problem people face, and come up with a software solution that solves their problem? If so, then people will gladly pay for your product.

This is especially true if they can’t find the solution anywhere else.

The SaaS Market just keeps getting BIGGER.

  • 33% of companies use more SaaS applications, with 16 apps/ company
  • 38% of US businesses adopted a SaaS-exclusive workplace in 2017, with a measly 17% doing the same thing in 2016
  • The expected growth of the SaaS market by 2020 is $76 billion
  • 80% of end users in the US prefer SaaS and cloud-hosted apps for organization and communication, with only 51% on-board in 2016

Did you know 4 BIG Tech companies, such as Microsoft, CA Technologies, SAP, and IBM, have all made the switch to SaaS product development? As you can see, software as a service is a very profitable online business.

Plus, certain software solutions are responsible for boosting the SaaS market share with collaboration applications, ERP, CRM, business intelligence, and HR management.

The development and need for SaaS are rapidly increasing and evolving. As the demand continues to soar, it’s time to get creative and come up with software to solve people’s problems.

If this sounds like your cup of tea, you can base your online business on SaaS and become privy to incredible earning potential.

According to Bessemer Venture Partners (BVP), the future of SaaS will incorporate an AI layer for better interaction between the user and the software. This layer also promotes deeper learning opportunities in business analytics.

Not really techy? Not a problem. You can outsource the software build to freelancers or software companies, then market your SaaS product to customers and clients. You can even offer your product for subscription fees on a monthly, quarterly, or annual basis. As people keep on subscribing, your cash inflow will just keep coming.

The trick in launching a SAAS fast and cheap is to follow the Lean Startup Method, and launch a Minimum Viable Funnel before you spend all the time creating the product. You never know if what you will create will sell, so test selling it before you make it with an MVF.

8. Sell Handmade Goods

sell handmade goods online

Crocheting, knitting, making jewelry… there are so many handmade goods out there, and unfortunately… people often overlook this one because it isn’t one of the ‘fancier’ online options.

But it is absolutely viable, and there is a huge market for it.

There is especially a market for these types of goods when they are marketed with your own personal story.

For example… let’s say that your baby has sensitive skin, and can’t use regular sunscreen.

Maybe he/she breaks out in a rash if they do, because their skin is just extremely, extremely sensitive.

Well, if you can come up with a sunscreen that actually works… that’s not only nontoxic, but that is also safe for your baby’s skin, free of harsh chemicals, and made with only natural ingredients… that’s a big thing!

That’s a real, viable product!

And the fact that you can market it using a real-life story is also really powerful.

Story Powered Marketing is a real thing. And having a story to tell customers why your product is awesome is a very effective way to market it and win buyers over.

Where To Sell Homemade Goods

Yes, this list is of the top online businesses… but honestly, a lot of people also overlook local outlets.

Farmer’s markets, for example, are awesome for entrepreneurs who are also creators. This can be a great outlet to get real world feedback on what you are creating before you start selling it online.

You can get people to try it, you can ask for their opinion, you can improve on it, you can solve problems and answer questions… this very intimate level of community interaction can teach you a lot about not only the process of creating your product, but also the process of marketing that product to your target customers.

What Types Of Items Can You Make?

To make this side-hustle work, you need to ask yourself ‘what types of things do you enjoy creating?’

You could make soaps, you could do an Etsy site, you could use Shopify, you could make lotion, you could make jewelry, you could make candles, you could grow awesome delicate micro greens… there are literally limitless possibilities here.

You just have to hone in on your passions, what you love to do, and what you are good at.
You can even get creative with it!

Do you see some awesome soap on Etsy? Buy it, cut it down into smaller bars, repackage it, and then resell it!

Look for those unique opportunities, and don’t be afraid to think outside of the box.

9. Influencer Marketing a.k.a. ______

I debated whether or not I was going to put ‘Influencer Marketing’ in this list. In some ways, I don’t really like the term… but it fits better than any other term, so that’s what I’m going to call it.

To me, influencer marketing is all about podcasting. That was my original thought in deciding to put this business idea in my top-ten for the year.

More people are listening to podcasts than ever before, and it keeps growing every year.

There is a ‘realness’ among podcasters that is actually getting really mainstream, and it is really awesome. It is becoming a ‘respected profession’ in our world, and it just continues to get bigger by the day.

Listening to podcasts is so much more in-depth than watching a special on the nightly news. It is also a lot more interesting than just scanning posts on social media, or watching short clips of videos.

When you listen to a podcast, you are getting a true depth of information. You are getting not just in-depth discussion on a topic to listen to, but are also getting background, context, history, etc.

You can also be a YouTube influencer, or even an Instagram influencer… but I think that I would put those further to the bottom of the list.

Podcasting is just really awesome right now, and I think that’s the way to go if you want to get started in the ‘influencer’ hustle.

How To Make Money As An Influencer

So, making money as an influencer starts with you pursuing your passion, and basically starting an authority podcast on what you love.

This could be sports, drone-racing, card-collecting, video games, energy drinks, sound systems, photography, musical instruments, antique collecting, fitness, politics, songwriting… whatever you love to talk about and/or practice in your own life.

Then, you keep working on it. You keep releasing content, you keep publishing, you keep learning, and you keep delving deeper and deeper into that subject.

That’s when you will start to become an authority on the subject.

Once this happens, and once you start to gain more followers, you will start to find opportunities for monetization.

Ads are one possibility, but there are certainly more options than this.

You could get sponsors… you could get brand deals… you could start developing and releasing your own electronic products, and marketing them to your followers.

You could leverage your audience to start an email list, and then market to that list as you release new products, memberships, courses, e-books, etc.

There are all kinds of ways to monetize this. But the most important element of succeeding as an influencer is simple… you must continue to create and release content.

10. Drop Shipping

Drop Shipping

And finally, we have Drop Shipping!

To sell a product, you need an inventory, right? Well, that’s how it used to work... until drop shipping came out.

So, what is an online drop shipping business all about?

Well, it’s actually fairly simple. You sell an item, a customer places an order for that item, the supplier ships the product to the customer, and you handle the customer service part of the transaction.

This process spares you from searching for a warehouse for storage, and eliminates any worries you may have about the shipping. You just have to think about running your online store, collecting payments, and offering your customers great customer service!

Large Brands that Started with Drop Shipping

Zappos, Sears, Way fair, and Amazon are just a few of the larger known business brands that started with drop shipping. You probably see ads run by these businesses every day!

Even without your products in stock, you can still feature and sell the items on your website. Drop shipping takes the shipping process off of your plate entirely.

When people buy from you, they purchase it from a third-party seller who then sells your item to your customer.

With drop shipping, you manage your online store, provide photos of your items for sale, handle the sales, and provide customer service. Your customers make a purchase, and the shipping is then taken care of by a third-party seller.

All of this means that you have zero inventory to maintain, and no storage problems to figure out. All you have to worry about is your website, providing photos of your products, and making it a point to provide excellent customer support. That’s about it.

It is important, however, to choose your third-party seller wisely. You want to weed out the scammers and find a legitimate third-party seller that you can trust.

Identify Your Audience to Make Your Online Business Work

It’s pretty fun to imagine yourself making tons of money with these online business opportunities; however, as with any new business venture, you need to have the right ingredients available to make sure it’s going to work.

If a brick and mortar shop needs traffic in their store to prosper, then the necessary component to an online business is their audience. Your initial audience will become your loyal customers in the long run.

There are five fundamentals required to make an online business successful.

The very first one is defining your audience by asking yourself this question- who can you provide the most service to, and what kind of service is it? The answer to this question will help you define your audience, as well as steer you to which of the top 10 online businesses you should consider starting today.

Maybe you’re super into a plant-based diet, or learning how to surf, or learning how to play the guitar. Maybe you build racing drones, or you are on a quest to be the best at managing your time better, gain muscle, or lose weight.

The list is truly endless.

If you do not know the answer to this question, then you need to dig into some personal exploration and niche research to find which online business suits you best.

Read the Three Simple Steps to Make Money Online, 5 Fundamentals of a Successful Online Business, or watch 55+ Niche Market Ideas. There are virtually endless ways to connect with your target audience online; but you can learn a lot more on this after you pick which business you will start tomorrow.

When you have your audience and niche market defined, then through the advertising you run, the online blog that you write, and the podcasts and videos you create, you can be clear in whatever content you choose to put out and who you are communicating to with all of it.

Another positive about audience building is you can even build an online business if you do not have money to invest. But as with any business, it takes time to take off. It may take a few years to quit your job and become an internet marketer, but all of the online business opportunities on this list can begin to turn a profit quickly.

That’s why they’re in the Top 10!

A lot of what holds people back from starting their online business doesn’t usually stem from a lack of passion, but from the how to’s of getting it started. Trying to figure out what avenues you can take to actually build a successful online business can be a process in and of itself.

The Best Online Business to Start With No Money

The Best Online Business to Start With No Money

Content is the king of the internet, and with the best content you create, you can also build an audience and sell products and services with tools that you already have. That valuable tool is your cell phone.

Keep in mind, however, that it is not all about creating content and putting it anywhere online without giving it much thought. It is critical that you place your valuable content on the right platform, so that you can experience a long-term return on your invested time.

A Facebook Page is not the right platform.

You need to be discovered when people are searching for information in their prospect awareness stage.

How to Start Your Online Business With No Money in Two Steps

Whether you need to start an online store or a different online business model with no money, the posts above and this video will show you what you can do to start your business today.

Selling information products, Affiliate Marketing, Coaching and Consultation Courses, Membership Programs, A Digital Marketing Agency, Freelancing and Virtual Assistant Work, and Software As A Service are just seven online businesses of the 10 I’ve listed on here that are possible to start with almost no money!

This entire Miles Beckler brand, and our 7 Figure Online Business, was built on the best alternative to Facebook advertising with invested time and no money, and you can do it too.

Start with my growth hack strategy and see an example of one year of YouTubing with a cell phone and a microphone.

Start Your Online Business Today!

Start a Successful Online Business Today!

With minimal start-up costs, potentially astronomical profits, and MORE freedom, online businesses will only become more and more attractive in years to come. Click To Tweet

There may be hiccups along the way, which is typical with those just starting out.

But once you get the right formula going, your business will only keep soaring to greater heights. So, choose the best business model you’re most excited about, and work at it.

Start here with the Five Steps to a Successful Online Business.

If you love what you’re doing and it’s something you want to improve in continually, then you can have a more secure footing in your chosen business. Keep updating yourself with the latest in your online business, stay connected with your audience, expand your product offerings, and give the best customer service that you can, and it will set you apart from the others in your niche.

Have any questions about how to start one of these businesses?

Leave me a comment below, and I’ll be glad to help.

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8 thoughts on “Top 10 Online Business Ideas in 2020 – How to Make 10k a Month”

  1. Love the post! Great information and very to the point. Much appreciated. Thanks for all you do. You have taught me a lot! I have wanted a business of my own since I was 13. I tried many things over the years. I don't have a product of my own (yet). I want to help people like me, the over 50 crowd, tired of the contractor trap, learn to make a viable income and then scale. I want to do affiliate marketing. Any suggestions?

    1. Commit to being the most helpful person in the world to your audience and then go push forth creating hundreds of epic pieces of content over the next few years… You'll be amazed at what you can create!

  2. Thanks for the great article - it looks like you have mastered most if not all these business ideas! If you went back in time, which one would you choose (if you had to pick one)? 🙂

    1. honestly it depends on the skills that you bring to the table. If you are able to help people get a result consistently then coaching or done 40 services is the fastest way to get to 100 K per year. If you don't have the ability to help people get a specific desired result affiliate marketing is a great way to start

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