The future is digital, and you are standing on it. 18 year-olds with tens of millions of followers on social networks, 30-year-olds leaving their frustrating job to start their own business in E-Commerce, 50-year-olds starting a career on youtube and getting millions of subscribers within less than 2 years. More and more people are grasping the opportunity of a lifetime, so the question is: who do you want to be?
In this post I want to share with you the 7 most profitable online business ideas that will skyrocket in 2023. My name is Rick, the italian guy that talks finance and before starting don’t forget to subscribe to my channel and connect with me on Instagram and Facebook. So if you are looking for financial freedom, setting your own hours, being your own boss and doing what you really love, let’s not waste any more time and let’s list the 7 most profitable online businesses that you can start now for a great 2023:
7. Online Trainings
Online trainings are a great way of making money and there are endless possibilities to market your courses online. If there is a subject you’re particularly knowledgeable about or interests you the most, now is the time to put together your video content and make it available to the public.
Now, I know what most of you are thinking: “I’m not an expert on anything, how could I offer a training to other people?” Well, let me reassure you: you don’t need to be the greatest expert to deliver good content. You just need to be willing to learn, learn and learn. The Internet is an endless source of knowledge and there is nothing in the world that you can’t find explained in it. And while you could think this is a disadvantage because, well, “why should someone pay you for a course if they have access to the internet?”, in reality it’s the greatest advantage you can have. Think about it. The difference between you and the people that will follow your training is that you took the trouble of putting together a jungle of confusing information from the internet into a clear, well structured course. Many people don’t want to go through that trouble, so they are willing to pay for a course that you offer, if you can lead them from the beginning to the end.
So, what do you need to start an online training? First of all, clarity about the topic you want to master. Choose something you are already familiar with and you like, and then start researching it and put together the information you need. Then it’s time to start recording. If you have a camera and a computer, you’re good to go. But remember, there are no shortcuts. If you want to deliver value to other people, you need to make yourself valuable.
6. Social Media Marketing Consulting
If you think you are good enough with social media and know how to get likes, clicks, retweets, followers, shares and comments, then you might want to consider a career in social media marketing. Small businesses often have to handle their social media marketing by themselves. Now imagine you are a small business owner and you are fighting with start-up costs, little profits, and all the other troubles that small businesses have. Would you have time to spend creating posts on a social network? Of course not. And that’s where you come into play. As a social media consultant, you can help small businesses develop the best tactics, posting schedules and content for their target audience. The basics of social media marketing are no rocket science, you can learn everything you need in a short time and then you are going to be able to sell your expertise and your time to your future customers.
So first learn the ropes of social media marketing. You’ll find endless information online. Then you should build a portfolio of case studies, meaning you need to produce and publish content that proves your worth. You do this by doing free work for people that you get connected with through social networks. This is easy. Enter facebook groups of any kind that might interest you and interact with people. Offer your services for free and you will achieve 2 things at once: you will start shaping your portfolio and you will nurture your network.
So now you’ll ask: how can you make millions or grow exponentially if you are doing a job that is bound to your time? Well, as soon as your business becomes profitable and you start earning enough, you should start your own social media marketing agency. This way you can make the growth of the business exponential and get to the next level.
5. Freelance work
Whatever your skill is, really, whatever it is, there is someone on the internet that would need it and pay for it. Either they want to start a blog but don’t know how to create a website, or they want to start with ecommerce but don’t know how to market their products… As long as there will be people running businesses, there will be plenty of work for freelancers.
More and more people nowadays do part-time freelancing from home and within a short period of time manage to earn more money with it than with their normal job. So, how do you start with freelancing? To start, think about what you can offer. And don’t worry if you don’t feel like you are the greatest expert. You will become an expert by doing. It’s Important that you choose a niche though, because as with all businesses with high potential, you are going to face high competition.
If you are a creative person, maybe freelance designing might be a good choice. 2: If you are good with words instead, you can become a freelance writer. 3: And what if you are good at coding or web designing? Well guess what, this is one of the most requested and well paid freelance jobs on the internet. Truth be told, there are millions of options as a freelancer and the more unique your idea or service is, the easier it’s going to be for you because you’d be focusing on a small niche. To start with ease, join a good freelancer site like UpWork, or Fiverr. You can still create your own website later on. Just remember, as for every business I’m suggesting, always strive to be exceptional at what you do.
4. Start a blog
Now, a blog can’t be exactly defined as a business, but it does become profitable as soon as you start monetizing it and believe it or not, you don’t necessarily need many years to start seeing money. Moreover, even if you start another of the business ideas that I told you about, having a blog on the topic will definitely support your online business. The more quality posts you’ll write, the more people will have confidence in you, and the wider your audience will become. Even if you just know what your passion is but you’re still deciding which of these online business ideas to pursue, starting a blog is never a bad idea, because thanks to it you’ll be establishing an online presence to build from.
The best part about blogging is that it requires little investment. You just need to get a web hosting account, which will cost you merely a hundred dollars per year on average, a domain for 5-20$ and install free WordPress on it. Then you are good to go.
After your blog will start gaining traction, you are going to be able to earn money through affiliate marketing, advertising or by promoting your own products.
3. E-Commerce Store
Creating a youtube channel is definitely a profit… Why did I say creating a youtube channel? I don’t understand… ah, maybe I wanted to tell you to subscribe to my channel if you enjoy this content! It’s free and with just one simple click you show me that I should keep doing videos like this! Anyway, coming back to the topic, one of the best ways to earn online income is by setting up an e-commerce store.
Now, this might sound like an extremely hard thing. How can I have a product manufactured just like I want it? How can I send it from one side of the world to the other? How can I send it to customers in no time and deal with returns, marketing, website creation, complaints?
Oh my god, my head is exploding… But in reality, it’s all much easier than you think – not easy, but easier -. And it’s not even as expensive as one might think: at least compared to opening up a brick-and-mortar store, you can say that financially speaking it’s a piece of cake.
It’s still not easy by any means. It requires hard work, and you need to stand out amongst thousands of others e-commerce websites. But there are many strategies that you can use to substantially raise your probability of success.
First of all you need to fill a unique niche and learn the right marketing techniques, which are by the way available for free on the internet WITHOUT PAYING for any course from the E-commerce fake-gurus.
Then you need to decide how you will market your products: You can either build your own website or a Shopify store, which means more work for marketing and shipping, or lean on an established market like Amazon, keyword “Amazon FBA”, which gives you a worldwide audience but will cut your profits. And of course you could craft your products yourself and sell them on sites like Etsy, Amazon or eBay, straight out of your home.
After you’ve found a unique niche and a possible first product, learn to know your real profit: I can’t state enough how important it is to estimate the profit you are going to have with the product you chose. Research your future retail price, the cost for manufacturing and shipping your products as well as all other costs like storage or marketing costs.
Then ask yourself if the product is in a growing market. If it’s a temporary hype or if your market has already passed its peak, you don’t want to get involved.
2. Launch a dropshipping business
Now, what if you don’t want the work of creating your own products to sell? In this case you might consider starting a dropshipping business. The advantages are many:
- You don’t need to create products yourself and have them manufactured
- You don’t need to pay for products upfront.
- You don’t need to hold any inventory.
This is how it works:
you choose existing products from suppliers and market them online. When a customer purchases a product from you, a third-party supplier ships it directly to them. The customer pays the retail price you set, you pay the suppliers’ wholesale price, and the rest is profit for you. You never have to handle products or invest in inventory.
In the future you can create your own website and build your own process, but to start you can use dropshipping marketplaces. Now, there are many ways to find a supplier but one is through Alibaba or Aliexpress. If you create an online dropshipping store through Shopify, the easiest way is probably using DSers (Read: D-S-E-R-S), which lets you source millions of products through AliExpress and import them directly to your store with the click of a button.
Dropshipping can be a profitable business because you are not responsible for shipping or manufacturing and it’s a low-risk model because you skip all the manufacturing and shipping costs, but of course you are going to have to invest into marketing if you want your business to grow.
1. Become an influencer
Number 1 is becoming an influencer in social networks, and in my opinion it’s one of the businesses with the highest potential. In 2021 alone $13.8B were raised in funding for Influencer Marketing and this Industry is set to grow to approximately $16.4 Billion till the end of 2022.
If you are able to create an audience in a social network by creating entertaining content, you can then leverage that audience to exploit all the different income sources that you can generate thanks to it. For example you can make use of affiliate marketing, namely, you promote a company‘s product by linking to it in a post and get a commission if users click on the link or make a purchase. Or you can use sponsored posts or product placement, in which case you are paid by a company simply for showing or displaying their products or services.
I’m going to focus here on 2 social networks that in my opinion have the highest potential in 2023 to bring you money, which are Instagram and Tiktok, but first, let me shortly give you an honorable mention: Twitch.
Twitch is the streaming platform of choice for gamers, so if you love gaming this is the right choice for you. Some well-known gamers, like Shroud, take in more than $100,000 a month from subscribers alone. And this is just from one source of income. Add in sponsorship and other money-making techniques, and, well, you do the math. Here (show graph) is a graph of the highest paid Twitch Streamers in 2022, and yes, you can see that Pewdiepie rounds up a nice sum next to what he makes on youtube. But now, after this honorable mention, let’s discuss the two most profitable social networks for influencer marketing.
1.1 Instagram
Instagram doesn’t need any presentation and becoming an instagram influencer is still one of the most lucrative businesses in the online world. Now, I’m not going to lie, becoming an influencer is not easy, but if you are unique and manage to create simple, but entertaining content, nothing stops you from rising to the stars in a short period of time.
Being an influencer is probably the dream of every teenager and also of many grownups nowadays, so if this is your dream let me give you one important tip before starting: never compare yourself with others. You need to stop giving a shit about what anybody else achieved and put your head down and just work on yourself and your content. Checking what others achieved will just drag you down and kill your motivation. Just don’t do it. Focus on how to show your unique personality, be consistent in posting, be original, and always set small goals that get you every day one step forward. You don’t need to be a scientist to be successful on instagram, in fact most of the famous accounts are based on easy entertaining.
Since we are talking about instagram, I just started my Instagram page, so find me under rick.dago, follow me and write me anytime here or on instagram. Let’s keep in touch.
1.2 Tiktok
Meet the TikTok King Khabane Lame (Kabani lami), AKA Khaby , emigrated from Senegal to Italy when he was 1 year old in two years went from being a waiter and a factory worker to being the most famous creator in the world. Almost 250 million followers between Instagram and Tiktok (Instagram 78.4M, Tik Tok 144.5M) and all of this without saying A WORD in his videos!
And meet Dancing Queen Charli D’Amelio: 18 years young, over 140 million subs on TikTok, she reportedly made $17.5 million only in 2021, and who knows how much she’s going to make in 2022, making her the highest-paid girl on TikTok.
These are just 2 of thousands of names that have seen their life change within a couple of years since they first started with Tiktok. If you are young or a teenager, or even if you are not so young anymore, TikTok is the platform for you and is taking the social media world by storm.
Conclusions
So which one of these business ideas is the right one for you? Think about how you want to change your life in the next few years and let me know in the comment section below. Share this post with your friends if you liked it, let’s connect on instagram and facebook and don’t forget to subscribe to my channel and hit the like button. I wish you great success with your new business idea and I’ll see you in the next video. From the italian in Germany, arrivederci!
