The Top 9 Most Profitable Online Businesses In 2020

Feb 11, 2020

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Amy Yamada - How to Use ChatGPT to Actually Sound Like You

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Identify your unique writing style so you can teach ChatGPT to speak in your voice

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Refine your message using authentic dictation and share it in any format using the tone you wish to convey

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Heart Speech Model: the ultimate guide to ChatGPT for online coaches

Amy Yamada - How to Use ChatGPT to Actually Sound Like You

Heart Speech Model: the ultimate guide to ChatGPT for online coaches

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This methodology is the end result of over 30 years in business and marketing and I'm working on it since late 2021.

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Starting small is actually the biggest benefit in this multi-dimensional, fast-changing marketplace.

Small businesses are personal, we get to interact with our customers face-to-face, and serve them at the highest level possible.

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The twenty-first century is the best time to launch an online career. We live in a golden era where you can earn money with almost no initial investment. Instead, if you think creatively, it’s possible to monetize your unique passions and skills.

Thanks to the internet, you can squeeze your practical skills into a money-making machine fairly easily, but your biggest mental hurdle might be the fact that you don’t know where to start. If you wonder how to start an online business…

Here is a list of the top 9 most profitable businesses to consider in 2020.

The Top 9 Most Profitable Online Businesses

Photo by Ewan Robertson on Unsplash

#1 Handmade Craft Seller

If you know special art or you can make unique crafts, this home-based internet business is your best option. All you need is to source materials, do your magic, and start selling. Create a page on a social media platform and post your works to attract clients.

You can also start selling your creative products on websites like Etsy, ArtFire, and Amazon. If you want to know how to start an online business with no money, the good news is that startup costs are relatively low and you can make your initial money back very quickly.

Moreover, if you use Amazon research software, you can find some high-margin niches.

#2 Blogger

Blogging is a great virtual job for those who are interested in sharing their lives with people. Bloggers post informative or entertaining content on a variety of topics such as arts, health, and fashion for a niche audience.

If you want to become a blogging entrepreneur, first you should conduct a certain amount of research and look for an area that is less competitive. Remember that creating quality and consistent content is key to success in this domain.

Bloggers can monetize their audiences via display ads and affiliate programs. But the best part of blogging is that you can simply earn money from doing what you love and it costs you almost nothing to start.

Related:

#3 Translator

In an interconnected global world, there’s a huge demand for translation jobs. If you’re bilingual and have knowledge of another language, this is your ticket to start a new online business.

People who know more than one foreign language or are able to translate uncommon languages will be the most successful in this field.

See if bloggers want their blogs translated or look for companies that are in need of website translation. You can launch your own translating website as well and package your hours into a huge income!

#4 Online Seller

Entering online retail is a smart move that allows you to reap the benefits of online space and fulfill your dreams of becoming financially secure. Whether you choose to have your own online store or prefer to sell on popular platforms like Amazon, e-commerce has a rich potential because it gives you access to millions of customers worldwide.

If you keep wondering how to start an Amazon business, there are many tools that will help you optimize your performance there.

For example, the IOScout tool allows you to use a product tracker that lets you find and keep track of different products on the platform, including your own and those of your competitors. As you can see, the benefits of an Amazon business are immense, so grab your chance to initiate your sales on the platform.

#5 Freelance Writer

If you have a knack for writing, we suggest you make smart money out of it as a side gig. Whether you are a medical practitioner, a finance professional or even a chef, you can turn your practical know-how into great content and gain extra money from delivering what you know to others.

A good start for your freelancing career is working with well-known bloggers because most of them just don’t have enough time to create unique content but still need fresh material every day. Another best online business alternative is to register on freelance websites or write pieces for news sites.

#6 Online Teacher

The e-learning market is booming right now. If teaching is one of your personal passions and you have a skill of any sort, it’s a good idea to use education platforms such as Udemy to cash in on your expertise. It is also possible to offer educational videos on YouTube or your own social media account.

You can still enter the online teaching market even if you don’t specialize in anything. Your mother-tongue language can prove to be a great asset. If you’re lucky enough to be born with a high-demand language, take your time to teach it to others.

#7 Bookkeeper

Here’s another option to make a living from the online world. Many remote companies seek virtual bookkeeping services. In order to get involved in this career, it’s enough to set up an online communication system and offer your services to those businesses.

This way, auditors can keep track of the company’s spendings without getting trapped in an office.

#8 Dropshipping Representative

Dropshipping is one of the top-rated online business opportunities you also need to take into account. You can sell online products with no need to buy goods in advance or keep them in a warehouse.

It’s kind of a delivery service which allows you to ship products on behalf of a retailer and make profits without investing in manufacturing costs. Oberlo is a useful application that helps you find trending products from various suppliers and sell it to others.

Like many other online businesses, Amazon is a great place to start. By doing some Amazon product analysis, you can identify areas that are ripe with opportunities.

#9 T-shirt Designer

Finally, using platforms like CafePress and Shopify, anyone with an eye for design can engage in an online fashion designing process.

These amazing online t-shirt creators make it extremely easy to design customized t-shirts that you can then sell on Amazon. If you become good at product research for Amazon, you’ll definitely find niche audiences that will fall in love with your work.

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Bailey Belmont

Digital Marketing Specialist

Bailey Belmont is a digital marketing specialist at Write My Essay Today, blog writer and massive coffee imbiber. A true marketing guru, she shares ideas about branding on social media, thereby helping influential companies reach their strategic objectives.