Best Online Business Ideas 2023 (Part 2)

Best Online Business Ideas 2023 (Part 2)

In the previous article, I have explained some of the top online business ideas that have been proven to be beneficial.

In this article, I will be continuing that article and providing some other ideas regarding the best online business ideas.

It’s important to keep in mind that these suggestions are for reference only and success in business depends on various factors.

However, these businesses are currently thriving and can offer guidance to those unsure of which business to start.

Although starting a business can be challenging, online businesses generally require a less initial investment.

The goal of providing this information is to assist those who have lost their jobs due to recent layoffs, as well as those who want to start their own business.

With that said, let’s begin exploring the most profitable small online business ideas for 2023.

If you are looking to invest as an expat or high-net-worth individual, which is what I specialize in, you can email me (advice@adamfayed.com) or WhatsApp (+44-7393-450-837).

Online Consulting Business

Based on your skillset, you can earn around $20 to $30 per hour as a consultant for the field you choose.

An online consultant business is a type of business where a consultant provides professional advice and guidance to clients.

Such advice can be offered through online platforms such as video conferencing, email, or chat.

Online consultants can offer services related to different industries, which include (but are not limited to):
— Business
— Marketing
— Finance
— Human Resources

To start an online consulting business, you need to identify your area of expertise, which means you should be proficient in a specific area.

Following that, you should establish your online presence, and market your services to potential clients.

Given below are some essential tips for you to start your online consultant business:

First of all, try to identify your area of expertise, and determine the specific services you will offer.

Try to determine your online presence with help of a professional website that showcases the services you offer along with your expertise and experience.

Make the most of social media such as email marketing and other digital channels to build your online presence and attract potential clients.

Evaluate your pricing structure, whether hourly or project-based and based on that, set your rates.

Figure out the methods through which your clients can communicate with you to acquire your services. Such methods are also helpful in delivering services and handling payments.

Most online businesses fall back in terms of customer support because they can’t offer solutions to client’s problems.

Therefore, try and concentrate on delivering excellent customer service to build a strong reputation and retain clients.

Starting an online consultant business can be a flexible and rewarding way to share your expertise while helping others and making money.

Affiliate Marketing

Affiliate marketing falls under the category of marketing where an affiliate promotes a product or service and earns a commission.

These commissions are offered for each sale or action made through the unique referral link of the company providing affiliate earnings.

Affiliate marketing is a robust way of making money online because it requires minimal investment.

Adding to that, it can be done from any location with the mere help of an internet connection.

Given below are some useful tips that allow you to start making money through affiliate marketing.

To begin with, choose a niche or industry that you are passionate about or knowledgeable about.

By doing so, you can identify the products or services that you can promote effectively and make profits.

Finding the proper affiliate programs that offer products or services related to your niche can be hard yet important.

You can search for affiliate programs on affiliate networks like ShareASale, ClickBank, or Amazon Associates.

Affiliate sales only work when you have a significant amount of audience, who can benefit from your affiliate links.

For this, try achieving a certain amount of reach on your website, blog, social media platforms, or other online channels.

Through these mediums where you can promote your affiliate products and make money from the sales.

Instead of creating unnecessary jargon, try concentrating on creating quality content that is on par with your audience.

With the help of your unique referral link, try to promote your affiliate products through the content on your website

Additionally, the process of promoting your affiliate links can be done through email marketing, social media, or other online channels.

You can always keep track of your performance metrics on your website or other online channels.

This includes the metrics like clicks, conversions, and commissions to measure the effectiveness of your affiliate marketing efforts.

Make use of data analysis and customer feedback to rectify your affiliate marketing strategy so that you can improve your results.

Even though affiliate marketing is a profitable way of making money online, it requires a lot of hard work, dedication, and patience.

With a robust approach and persistence, you can build a successful affiliate marketing business over time.

Websites and Domains

There are multiple methods through which you can make money from websites and domains, which include the following.

Upon reaching a significant amount of audience reach, when you own valuable domains, you can sell them for a profit.

To your comfort, there are various online marketplaces such as Sedo, Flippa, GoDaddy, etc., where you can sell your domains.

Another major way of making money through websites and domains is when you have website development skills.

Upon having such skills, you can create websites that deem to be advantageous for others and sell them for a profit.

Such websites, upon development, can be sold through online marketplaces like Flippa, Empire Flippers, WebsiteBroker, etc.

If you really do have a significant amount of reach in the audience and you don’t want to sell your site, then you can make money with significant traffic.

Through this method, you can rent out advertising space to businesses and advertisers, who will pay for the number of views or sales.

If want to opt for such a method, then Google AdSense, Mediavine, and AdThrive are some of the popular advertising networks that can help you monetize your website.

Affiliate marketing is yet another way of making money through your websites when you have the necessary amount of reach in your audience.

As I said earlier, you can make money from affiliate marketing by promoting products or services on your website.

The companies providing affiliate links allow you to earn commissions for such sales on your website made through an affiliate link.

Amazon Associates, Commission Junction, and ShareASale are some of the popular affiliate networks you can join.

Most people have a digital product or service that they are struggling to sell, and they can benefit from a website with a larger audience.

If you don’t want to sell their products or services and you have your own digital products like eBooks, courses, or software, you can sell them instead.

By selling such services or products on your website or through online marketplaces like Udemy, Teachable, or Gumroad, you can make money.

If you have a website with a particular niche, let’s say Technology, you can offer services related to that niche.

For example, you can make unboxing videos of the latest electronic gadgets and get affiliated with the providing company.

This would allow you in making money from the sales that have been generated from your website while endorsing them.

Making money from websites and domains requires hard work, dedication, and consistency.

By leveraging your skills, creativity, and expertise, you can create a profitable online business, i.e., through a website.

Website Design

Most people cannot make their business websites on their own as they lack the necessary skills.

Therefore, by being a website designer, you can make money from the client’s necessities regarding their website creation.

In recent times, website design is a highly sought-after skill, and there are several ways to make money through website design.

Here are some essential tips on making money through website design, which may prove to be helpful for you.

One of the best ways to make money as a website designer is by becoming a freelance web designer.

In this way, you can work with multiple clients to design custom websites and make more money than a traditional web designer.

As a freelance website designer, you can find clients on freelance platforms like Upwork, Freelancer, Fiverr, etc., or you can network with potential clients in your local community.

Another way of being productive is by designing website templates and selling them on online marketplaces.

There are certain online marketplaces such as  ThemeForest, Creative Market, TemplateMonster, and so on.

These marketplaces allow you to sell your templates and earn passive income from your designs.

Certain people have programming skills along with website design skills and If you have programming skills, you can create website plugins.

Such designs can be sold on platforms like CodeCanyon or WordPress.org, and these allow you to make money from what you’ve designed.

With the website development skills you possess, you can create website themes and sell them on marketplaces like ThemeForest or TemplateMonster.

You can alternatively make money by offering website maintenance and support services.

After providing a website for a client, you can offer ongoing maintenance and support services.

These are extensively necessary for most clients with huge websites where the website owners can’t handle things on their own.

Such services can include updating content, managing security, or troubleshooting technical issues.

Imagine being an expert in a certain skill or course, which too will allow you to make money.

If you have expertise in website design, you can create online courses teaching others how to design websites.

You can sell these courses on platforms like Udemy, Skillshare, or Teachable so that people can learn skills related to web design.

With the help of your website design skills, you can create a profitable online business through the methods I’ve mentioned.

Whether you choose to work as a freelancer, sell website templates or plugins, or offer ongoing website maintenance services, there are plenty of opportunities to make money through website design.

Mobile App Development

Mobile app development is yet another lucrative online business, and there are several ways to make through it.

Listed below are some ways to make money through mobile app development, apart from working in a company.

You can sell your app on platforms like the App Store or Google Play Store if you have a potentially beneficial app.

You can set a price for your app or offer it for free with in-app purchases so that you can generate revenue from your application.

The in-app purchases you offer, such as premium features or virtual goods, within your app will provide additional benefits.

Such in-app purchases are extremely profitable when you come up with a useful app or an addictive game.

This allows you to earn revenue from users who are already engaged with your app or those who are going to get engaged with it.

If your app offers ongoing value to users over the long term, you can offer a subscription-based service.

Such a subscription service can include access to premium content, features, or services within your app.

With your app, you can offer advertising space within it to businesses and advertisers.

For the ad space you offer, advertisers and businesses pay you a certain amount of money on a regular basis.

You can use mobile ad networks like AdMob, Facebook Audience Network, or IronSource to help you monetize your app.

If you have expertise in app development, you can create white-label apps that businesses can customize and brand for their own use.

You can sell these apps to businesses or offer them as a service so that businesses can pay you and use them for their own profits.

You can offer app development services to clients on a freelance basis, where you can get paid on an hourly basis or per project.

As an app developer, you can be able to find clients on freelance platforms like Upwork, Freelancer, or Fiverr.

By leveraging your app development skills, you can create a profitable online business.

Whether you choose to sell your app, offer in-app purchases, or offer app development services to clients, there are plenty of opportunities to make money through app development.

Social Media Marketing

If you have what it takes, making money through social media marketing can be a lucrative method of making money online.

Nowadays, a lot of businesses are online, which need services related to social media marketing.

Over the past decade, it has been made clear that social media marketing is one of the most effective ways of marketing a business.

If you do possess the necessary skills related to social media marketing, then you can make a lot of money through this method.

Social media marketing has become an increasingly popular way for individuals and businesses to make money online.

Provided below are some useful methods through which you can make money through social media marketing.

This method involves promoting products or services on your social media channels and earning a commission.

Such commissions are provided for the sales that are made through your unique affiliate link on your channels or social media.

Some specific brands may pay you to create content that features their product or service.

This could include sponsored posts, product reviews, or shoutouts, which do not have the necessary reach toward the audience.

If you have a strong social media presence and know how to create engaging content, then you are in luck.

With such skills, you can offer your services as a social media manager to businesses that want to improve their online presence.

If you have a large following on social media, brands may pay you to promote their products or services to your audience.

With the help of your social media channels, you can even promote and sell digital products such as eBooks, online courses, or membership programs.

To be successful in social media marketing, it’s important to build a strong online presence.

This can be done by creating engaging content and establishing yourself as a popular person in your niche.

It’s also essential to be transparent with your audience and disclose any sponsored content or affiliate links.

Virtual Recruiter

A virtual recruiter works on behalf of a company that exists elsewhere to recruit the individuals necessary for the company’s operations.

In layman’s terms, a virtual recruiter is a professional who performs recruitment tasks remotely.

Such individuals make use of technology to communicate with clients and candidates.

Virtual recruiters can work for recruitment agencies, companies, or as freelancers, and their job is to find, screen, and hire the best candidates for open positions.

Virtual recruiters typically work from home or a remote location, using tools like video conferencing, email, and online job boards.

By doing so, they manage the recruitment process that is deemed necessary for a company to find suitable candidates.

In certain circumstances, virtual recruiters use applicant tracking systems (ATS) to track candidate resumes and qualifications.

Some of the responsibilities of a virtual recruiter may include:
— Posting job listings
— Reviewing resumes
— Conducting interviews
— Checking references
— Negotiating job offers
— Providing feedback to candidates

They may also be responsible for building relationships with clients and developing recruiting strategies to meet their needs.

Virtual recruiters should possess excellent communication skills, strong attention to detail, and the ability to work independently.

It is important for such individuals to be habituated to recruitment practices, labor laws, and industry trends.

Only then, they will be successful in providing the necessary workforce to the necessary company (they’re working for).

Virtual Assistant

As a virtual assistant, you can make money in a variety of ways, depending on your skills and experience.

Let us have a look at some methods through which virtual assistants can make money.

Many businesses and individuals need help with administrative tasks such as scheduling, email management, data entry, and bookkeeping.

Being a virtual assistant, you charge an hourly rate or a fixed rate based on the level of services that you provide.

Most people out there need services related to managing their social media accounts.

If you are truly efficient, you can offer social media management services to businesses and individuals who need relevant services.

Virtual assistants with strong writing, editing, or design skills can offer content creation services.

Such content creation services usually comprise blog post writing, graphic design, or video editing.

Most businesses out there outsource their customer service needs to virtual assistants.

These customer service representatives answer emails, respond to social media messages/comments, and handle phone calls.

Virtual assistants, in essence, help with project management experience and offer relevant services to businesses and individuals.

The businesses and individuals who need such services need help organizing and executing projects.

In order to become a successful virtual assistant, it’s important to build a strong online presence.

At the same time, you should also establish yourself as an expert in your respective position and provide high-quality services to your clients.

You can find clients through job boards, freelance platforms, social media, etc., as a virtual assistant.

Alternatively, you can always reach out directly to businesses or individuals in your respective niche.

Honourable Mentions

Considering the previous article as well as this article, I’ve mentioned some of the profitable online businesses in 2023.

Nevertheless, some other businesses are deemed profitable in terms of being online businesses.

There are, however, some other online businesses that require lesser capital and are deemed profitable.

Let us now have a look at some other beneficial online businesses in 2023 that can are completely online and require very low capital.
— Online courses
— Translation agency
— Transcription agency
— Online tutoring
— Podcast
— YouTube channel
— Guest posts
— Creating NFTs
— Selling stock photos
— Becoming an audiobook narrator
— Career Coaching
— Motivational speaking
— Email marketing
— Website testing
— SEO
— Virtual coaching services
— Video production
— Digital event planning

Bottom Line

Not all businesses turn in favor of those who try them because it takes a lot of effort, time, etc., among other aspects.

That being said, I’ve covered the essential business ideas that are proven to be beneficial for those who want to start a business online.

I strongly hope that the information provided within this article comes in handy for those who were searching for relevant information.

If you require a financial specialist to manage your investment requirements, then you have come to the appropriate location.

I provide high-net-worth and expat wealth management services to clients in various countries.

To determine if you can benefit from the exceptional investment services I provide, please don’t hesitate to get in touch with me.

Pained by financial indecision? Want to invest with Adam?

Adam is an internationally recognised author on financial matters, with over 760.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.