People have been making money doing business on the Internet since its inception (commercial inception).We, Jojo and Linjo are classic examples of people who make money online (doing business online). We started our journey in 2008 (or even before that). Coming forward to 2016, the Internet has lots of business opportunities to offer. You might have already read about lots of smart people who make tens of thousands of dollars online. So the questions is- do you want to be an Internet Entrepreneur ? In this post, let's take a look at the most interesting Internet business ideas that should work in 2016.
The biggest advantage of an online business that you'll be able to make money while you sleep.
We believe, these are the best internet businesses to start in 2016 - 2017
1. Affiliate Marketing
Affiliate marketing is getting hotter day by day. Many big brands got into affiliate marketing recently. When it comes to 2016, affiliate marketing is a multi-billion dollar industry. Lots of people live full time from the revenue generated through affiliate marketing. Affiliate marketing in USA is expected to touch $4.5 billion in 2016. The number of people who look for product reviews has drastically improved. Product reviews are something inevitable these days. Most of the customers search for reviews before buying products. Another good thing about affiliate marketing is that online sales has already passed $350 Billion in US alone and is expected to touch $520 Billion by 2020.
What are the scopes of affiliate marketing in 2016.
Well, compared to 2010, affiliate marketing is not that easy. Many good niches are already covered, moreover many of the review websites like pcmag write the reviews of gadgets and other technical products. It will be hard for a new niche blog to outrank such authority websites. Look out for a space with less competition, preferably a new niche so that there won't be much affiliate websites to compete with you.
What are the best affiliates to use in 2016
Blogging - The trend of blogging started around the year of 2003-2004 and still is one of the hottest methods to make money from the internet. When it comes to 2016, blogging is not just a part time income source but a big internet business. In my recent blog post, I've mentioned about bloggers like John Lee Dumas and Patt Flynn who makes more than 180,000 $ per month from their blogs. Have a look at the top 10 money making bloggers(infographic) who make millions of dollars through from their blogs.
Note: - If you are interested in launching a blog in the fashion niche, we have published an A-Z guide on How to Create a Fashion Blog and make money. The guide is very helpful for beginners looking to make money online via blogging.
Content marketing gained extreme popularity and is one of the biggest methods to drive online sales.
Many online business and brands deliver high-quality information through their blogs to build traffic and brand value. Google search volume, as well as the thirst of users for good content, increases day by day. People are so used with content, whether it be social media or google we can see content and blogs dominating in these industries.
You might also be interested in reading - 21 best blogging ideas to make money in 2016-2017.
You can use multiple methods to make money from your blog, some of them are
- Ad networks (like google Adsense)
- Affiliate marketing
- Selling ads/blog posts
- Selling leads
- Selling your blog
Even though crowd sourced content platforms like quora, medium or facebook pages/groups gained popularity these days, blogging has no signs of declination. The trend of blogging and content is said to increase in 2017 and upcoming years.
So, if you have any plans to start an internet business now , blogging will be a wise choice.
Blogging success takes time, you have to be patient to succeed in blogging. You have to build your own identity in between the readers and it takes time. You have to supply good quality content regularly and in a timely fashion . Making a blog rich with good content is no one night job and if you are looking for quick money(get rich quick scheme), stay away from blogging. Blogging is something for people who want to build a stable online business with regular income.
So what are the major 3 steps in starting your own blog?
- Registering a domain (example.com)
- Signup for a hosting
- Installing WordPress
If you want to start your own blog, you don't need to learn rocket science. Click the link given below to set up a blog. I am recommending you to use bluehost(the most affordable hosting in 2016), click the below banner link to get a discount for your signup.
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3. Start a niche ecommerce website.
Starting a niche eCommerce is another great online business idea for 2016-2017. Even though big players like amazon, ebay, etc are there, they focus on much broader category and here is were a niche eCommerce got scope. The major success factor in niche eCommerce business is that you need to be wise in selecting your niche. Starting an Apple Iphone eCommerce store will be the dumbest thing you can do. In that scenario, you are competing with the official apple store , amazon and such kind of biggies and for sure you'll be drowned in the big sea.
Instead, go for a micro niche like handkerchiefs, any particular type of dress,shower caps,fish oil or something like that . You can see , all these niches belong to a sub category.
Examples of some successful niche e-commerce websites are bumblebleelinens, a niche e-commerce website selling wedding linens. They were able to make 100,000 $ in profit within the first year of their launch.
Another example of a successful niche e-commerce store is TallerHeels - They sell taller heels(Not just normal heels, but taller heels).
You can see that it belongs to a subcategory, Shoes > Mens shoes> Taller Heels
Their niche belongs to a 3rd subcategory and as because of that , they don't have many competitors as well.
Starting an ecommerce wont be that expensive as you think, read about starting an ecommerce portal under 100$ .
4. Sell in marketplaces likes amazon
Becoming a vendor in marketplaces like amazon, Etsy, eBay will be one good internet business idea to start in 2016-2017. E-commerce in US gained 14.6% growth in 2015 . E-commerce B2C sales volume in 2016 (worldwide) touched 1922 Billion and is expected to touch 2356 Billion by 2018.
Amazon is achieving an annual sales improvement of 20-22% annually. This means that it is a great opportunity to register as a vendor in amazon and start selling your products. The FBA(Fulfilled By Amazon) scheme can make your task much easier. Through the amazon FBA program, you don't need to worry about the shipment, packing, invoice generation, returns, inventory stocking, manpower and all. What you need to do is to source the product in bulk, prepare the list and hand it over to amazon. Amazon will take care of all the orders, which means they'll print the invoice, pack the product and ship the product to the customer end. The revenue from the sales will be credited to your account. What you need to do is to give a small amount to amazon as a fee for these procedures(from stocking to shipping).
The FBA program helps you to scale your online business without roadblocks.
You don't need to hire employees
You don't need worry about order management etc.
First of all, you need to check whether the amazon FBA program is available in your area. Well, Amazon FBA is all over popular in USA.
How to register as a vendor on Amazon?
How to register as a seller on Ebay ?
How to register as a seller on Etsy?
BlueHost is offering hosting for the readers of Dollarfry(this blog) for as low as $3.49 a month (and free domain registration for one year). Click this link to start your blog today for the most minimum cost(The best deal you can get online!). Bluehost is where I started my blog(and is continuing successfully)
5. Online Business consultation
When it comes to 2016, you can see tons of web development and online marketing companies. If you are starting a new business in this niche, probably you might be drowned in the big sea of competition. Website development is in its saturation. Well, some might argue that it is not the case of highly application oriented web development. But truth is that lots of technically sound application oriented companies are there too.
So what should work?
Consultation - Yes, In 2016-2017 it will work!
Many eCommerce/web-oriented businesses are budding day by day. If you can start a consultation firm, paving the path for these businesses, it will be a good idea. Lots of the online business out there doesn't even have a clue about.
- How much would it cost for a website ?
- How can I market my online business ?
- Should I do social media promotion/Adwords ?
- How can I bring visitors to my website?
- How can I convert
Most of the web development/online marketing firms out there just want to take out money from clients pocket. Here is where you can save these peoples ass by providing the right guidance in how they can follow a cost effective model(based on their budget) and how to launch and develop their online business successfully.
This model has many other B2B opportunities also. Once you get a client, you can refer him to someone you know and this can generate more business and more revenue.
6. Local tour operations
If your hometown has tourism opportunities, it will be a good time to start an online brand for it. Niche oriented tourism has good opportunities. Even though there are large tourism websites like TravelTriangle, InterpridTravel etc, your local tour area might not be showcased in these portals. Most of the renounced tour companies focus on major cities in a country, they can't include all the places in a country.
Pick a niche tourism spot and start developing an online portal with good content. Pick the right keyword for your tourist spot and develop quality content in it. Bring audience to it through social media, youtube, google and other channels.
How can you make money with a local tour website
If you can do your own tour operations, you can get lots of leads through your website. In 2016, most of the travelers arrange their trip online . They look on the internet for the best travel websites and deals and if you can get the attraction of such a customer, you can generate good business online.
Some of the other revenue opportunities are
- Selling tour packages.
- Tieing up with hotels and resorts and selling leads to them.
- Selling travel guides online.
- Selling souvenir goods online.
7. Translation related internet business
Translation is another area with a good scope. The connection between different countries is growing day by day. And many websites do have multilingual functionalities. You can see that many websites do have 3-4 versions for different languages.
How can you make money online with translation
You can build your team and get works online . If you check online, you can see that there are different online portals through which you can make money via translation.
The advantage of launching and internet business in translation is that not everyone can enter this niche easily. We all know that the web has been crowded with programmers/web developers . This is one of the reasons why I never recommend anyone to start yet another web development company. I haven't listed the internet business idea of web development in this article as it is very much saturated when it comes to 2016
. Language is no one-night learning, this is what makes this niche a good internet business idea in 2016. If you can build a team who can translate multiple languages you can certainly be a winner
Some of the online portals that help you to make money online translating are
You can also think about translation services for different platforms over the web. For instance, WPML is a WordPress translation plugin. You can offer to integrate WPML in WordPress websites, which is a kind of service getting popular these days. You can also try translating other popular platforms like Magento, Joomla etc.
Hope you enjoyed these internet business ideas to start in 2016-2017. I'll be updating this article with more ideas. Feel free to shoot in comments.
8. Start a YouTube Channel
What you have to do is to start a YouTube Channel in some peculiar niche and attract subscribers into it. More subscribers mean more visits. More visits mean more money.
You can put YouTube ads along with your videos. If you turn out big, many bigger brands will approach you for sponsoring your video episodes.Seeker Daily is a good example of a youtube channel making money using this method.
9. Start a Facebook Page/Community
Facebook is the biggest online business of our times. With a revenue of nearly $20 Billion and 1.79 Billion monthly active users, with no doubt we can say facebook is the biggest online business of our times.
There are lots of methods through which we can make money with facebook.
Read in detail about 13 methods through which you can make money with facebook
You can start mulitple businesses from facebook, many of the solid internet business which we see now began with a facebook page. The inshorts mobile app(they bring news in 60 words) was started as a facebook page. The biggest advantage of starting an online business in facebook is the large user base. You can reach wide range of FB users through marketing, creative posts an paid ads.