If you are a budding entrepreneur and looking for some great online business ideas, all will be revealed in this article.
Many people like you are starting to realize that job security is becoming an oxymoron more and more these days. Not only that, but the idea of working online from home or even while traveling is appealing to many.
There are many opportunities in the “make money online” space but some are just tired and worn out. Not to mention – they don’t work!
Make no mistake about it, finding the right online business idea isn’t an easy task, especially with many of the “gurus” out there that try to sell you the next best thing.
What I have done here is compiled a list of some legit money-making opportunities that you can start from the comfort of your own home.
This can be done part or full time, even in your jammies if you wish!
Let’s dive right in.
What are the Best Online Business Ideas for 2024?
There is no “rank” to this list, just choose one that appeals to you.
1. Affiliate Marketing/Blogging
Probably one of my favorite ways to make money is through affiliate marketing. Affiliate marketing is a simple model that has been around for many years.
Essentially, you are promoting someone else’s product(s) and when someone buys from your link you get a commission.
These links are normally found in your blog, an ad you create, a link in a Youtube video, etc.
Chances are you have bought a product in the past that was an affiliate link where someone got a commission from your purchase.
This is similar to drop shipping but actually much easier because you don’t have to order the product from the manufacturer.
Once you make a commission, you just have to wait to get paid. Simple.
Commissions can be made from individual sellers, from sites such as Clickbank, JVzoo, and even Amazon associates.
Individual commissions can be anywhere from a few dollars up to $1000 dollars or more depending on the product.
When you scale this up, you can really make some serious bank. Check out my article on affiliate marketing that goes into more detail.
Drop Shipping is essentially advertising a product that you never have to carry inventory for, then selling it for a profit and having the manufacturer deliver directly to the customer.
The platform that is most commonly used is Shopify and you can get a 14 day free trial here.
You can set up a niche store with just a few products, for example, phone cases for iPhones. Or, you can set up a general store offering many different products or a store on a big niche like a fishing store.
You can go with something you’re familiar with but it doesn’t really matter. With the right training, you’ll know what products to target and how to set up your store, etc.
Most of the money you will spend will be on Facebook ads.
Typically you’ll start off testing at just $5 a day for each product and scaling the ones that become profitable.
Google Adwords is also a paid option that a lot of drop shippers are starting to use these days either as a replacement or a complement to Facebook ads.
If you want to know how you can make money from drop shipping, I recently wrote another article you can have a look at.
3. Start a YouTube Channel
It’s no secret that some YouTubers are extremely rich. People like Logan Paul have a net worth of $20 Million and counting.
But a lot of people don’t want to go on camera.
Did you know that you can still make a lot of money on Youtube without having to go on camera?
Channels like Brainy Dose use clips from other Youtube videos or stock footage, then do a voice-over. This is done by what is called “fair use.”
You could do this yourself or simply outsource it. Want to know how much this channel (and many like it) make?
Take a look at their stats on Socialblade.com
They are making a maximum of just under $30,000 per month and a max of $354K a year.
However, these numbers will only go up as they grow their channel.
This is an estimate but normally it’s somewhere in the middle of these two estimates above for each. This is based on CPM or “cost per mille” and the income is based on the type of niche that you are in.
How much of a difference would this money make in your life? You could make a similar channel or one in a completely different niche.
Some pay more, some less.
If starting a YouTube channel interests you, I have put together a list of the Best YouTube Courses to take. I am a member of each one of these and give you my honest take on them all.
My list includes courses for both going on and off-camera.
I recently bought a course called Tube Mastery and Monetization by Matt Par.
I did a full review on his YouTube course that you should take a look at.
It will teach you how to pick a niche to go in. He provides a list of 100+ profitable niches to choose from. So no excuses!
I’ve already started one of my own channels in a niche he recommends so I am excited to see how this will turn out.
The best part is you don’t have to show your face so no need to invest in lighting or expensive camera equipment.
The course is $997 BUT you just have to watch the webinar to get a $500 discount.
I think this is a great business to get into for 2024 because the investment is so minimal. You could even do this for zero dollars.
Your only investment would be the course.
4. Amazon FBA
Amazon FBA (fulfillment by Amazon) is similar to drop shipping but instead of purchasing one-off products as your customers buy them, you are buying your products in bulk and selling them on Amazon.
Your products get sent to an Amazon fulfillment center where they will pick, pack and ship your products out to your customers for you.
Customer service is also provided.
The benefit of this model is that you can leverage the plethora of traffic that the number 1 online store in the world gets.
Unlike dropshipping, you need to do a lot of marketing, retargeting, etc, to get a customer.
With Amazon, the brand is recognizable.
The downside is that depending on the product(s) you wish to sell, there could be a substantial upfront investment.
If you have some money to invest then this could be an option for you. You don’t want to go at it alone though so I have compiled a list of the best training available to choose from.
Check out my article - How to sell on Amazon step by step to learn more.
5. Start Your Own SEO / Social Media Marketing Agency
If you like sales, and enjoy talking to people and promoting your business in different ways, then perhaps you should start an SEO agency.
Assuming you know how to do local SEO already, the other component is the task of getting clients.
This is the most difficult process with this business model.
You will need a website and I have a guide here that shows you how to create a site. The website will be your brand that you will need to show prospective clients.
You’ll need to rank your site to show that you can create results. Here’s a tip – rank for an easy term then show a potential client.
They don’t understand ranking and seeing your site on the first page will certainly convey a message of capability on your part. If you have no idea how to do SEO but feel this is a business model you’d like then have a look at my article titled What is SEO to learn more.
Want to learn SEO so you can apply it to ranking a website or starting an agency? Check out the SEO Checklist by SEO Buddy.
If you’re not an SEO expert and want to just focus on social media marketing, anyone can do this with the right training. Every business should be on Facebook so if you can master Facebook ads then you’ll be able to sell your services. After all, most businesses know nothing about how to run Facebook ads!
6. Local Lead Generation
This business model is quite unique.
Essentially what you are doing here is ranking a website in a specific niche, then selling the leads to local clients in that niche then banking that money!
For example, you could rank a “Spray foam insulation” website in your local city (or any local city really) then contact businesses that are not on the first page of Google.
Then ask them if they would like to have leads directed from your page to theirs – for a fee per call or a flat monthly rate.
For a business like this, you could charge anywhere from 50 – $100 a call. Imagine how that could add up.
There is inexpensive software that can handle the call forwarding and tracking (I use Callfire) so once it is set up, you are able to track your calls and the money that you make – all handled automatically.
Since businesses are slowly starting to get going again, this is a great time to capitalize on this.
If local lead gen is something you’d like to do but you’re a total beginner, there is training for noobs available and I urge you to check out the video below:
7. Dropservicing / E-services
This is a new business opportunity where you will have a website that offers “eServices” to business owners.
It’s kind of like owning an agency but not exactly. Here, you will outsource all the work so you really just focus on sales.
Conclusion and Final Thoughts
These are the top 7 businesses in my opinion that would be your best bet to start.
It is important that you match your business choice with your personality as I explain in a different article. If you choose wrong, you could hamper your success. Click that link to jump to the article and learn more.
The one thing that stands out from all my suggestions above is a common thing – training.
Without training and understanding your line of business, you certainly will not have the upper hand on your competitors.
Invest in yourself. All the suggestions I gave above come from people that KNOW this business and have lived it. They will be your mentors and guide you through.
Success is up to you though.
It’s up to you to take action on any course you take. So think wisely about what choice above is most suitable for you and take the training.
The longer you wait, the sooner someone else will take your spot in regard to success.
I’m not saying buying a course is a must, as you can learn at your own pace through some free sources like Youtube, but you aren’t going to get very specific training that is essential for success.
One small detail could make ALL the difference in your business. Believe me, I’ve been there.
Any course I recommend on my blog I’ve bought already, used, and reviewed.
I don’t recommend every single product out there like some do. I only recommend courses/software that have been vetted by me through extensive research.
Oh and one more thing.
Stick with one business model.
Stop chasing the next shiny object that comes along. Focusing on one thing with all your efforts will give you the greatest chance for success.
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