Starting Online Business | A Good Option or the Best in 2024

Surely you have gone through some blogs that talk about how to make money online until you come across one that talks about profitable online businesses. 

You wonder if creating an online business is a good option for you.

What is the Best Online Business to Generate Income?

You may have some thoughts about online business, but you hardly know anything about this world and want to find out its advantages over a conventional business. 

Here I tell you that you must start an online business that you are passionate about.

If you don’t have a passion for something that you are going to dedicate your life to, the chances of having a successful online business decrease considerably.

So, I encourage you to continue reading.

Of course, online business is a great opportunity you cannot miss because it offers you an opportunity to generate a passive income.

The current situation of the labor panorama in the whole world is not very hopeful.

The unemployment figures are increasing day by day, and sometimes they even tell us that they are going down, but what they are not telling us is that, if they go down, it is thanks to the creation of jobs with junk contracts for which you work a lot and earn little.

I have come to see employment contracts for one or two hours a week.

And then they say that unemployment is going down, what a cloth!

But as I always say, you have to be positive and look on the bright side of things. And the best way to do it is to take advantage of the moment to learn how to establish an online business.

If you are unemployed, do not be discouraged and take this opportunity to create your own online business to work from home or from anywhere in the world.

We will make a living ourselves, and we will not depend on an annoying boss or incomprehensible schedules.

It is time to learn how to earn money with your online from-home job. Wherever you are, you will be able to manage your business online! 

It would be best if you had a computer and an internet connection.

Online Business vs Traditional Business

You may think that, since you are going to start a business, it is still better to start it in a physical place where you can control everything being there. 

Incorrect! 

One of the main advantages of starting an online business is that you can manage it from anywhere.

These are the advantages of an online business compared to a traditional one:

• You don’t need a physical place: to have a successful online business you don’t need an establishment at all. Sometimes (very few) it is a good idea to have a physical establishment depending on the business model you use and the profits you want to make. Still, it is by no means mandatory or advisable for any online business. The normal thing is that you never need an establishment, avoiding all the expenses this entails.

• The initial investment is less.  For a traditional business to work, you need a minimum investment such as: renting or buying premises, licenses, taxes, adapting it to your needs (works), advertising, buying the product to sell, employees, etc. However, to start your own online business you will hardly need any initial investment, you will have to buy a domain (e.g., your company name.com) and hosting (where your website will be stored).

• Not to mention the maintenance expenses: in your physical business, it would be the salaries and compensation of the employees, maintenance of the place, repair of breakdowns, administrative expenses, and order processing. On the other hand, in the online business, you would only have the derived expenses for domain and hosting. These expenses are usually around $70-80 per year (Yes, per year).

• It is true that if you do not want to do it yourself, you can ask someone to make you the website and it will cost you their money, but it will always be cheaper than renting a local for example.

• You are your boss, so you set your rules and your schedules. You do not depend on employees to achieve good performance, nor will you have to put up with the typical boss who makes your life impossible.

• Reach potential clients globally. A website reaches anywhere in the world, thus multiplying your sales opportunities. If there are so many successful online businesses, it is because they have incredible reach. However, traditional business is quite limited by where it is located.

• Your online business will be open 24 hours a day, 365 days a year, and open to the public. Even if you are on vacation, you will continue to make money.

• Non-physical things can be sold. You can sell products that do not even require stock or transportation (digital books, music, applications, etc.). Not to mention selling your services or info products. 

• The advertising you do can be much more segmented to the target audience and is completely measurable in its results.

• You can automate most of the processes, and you can delegate the rest of them. You will not need to be in front of the computer to sell something. In this way, you can generate the desired passive income. You can have a 100% scalable business.

As you can see, the advantages of creating an online business are much more interesting compared to a traditional business. And that’s why the best option is an online business.

Let’s move on to the next point where you can see that it is not necessary to have the best idea in the world to have your own profitable online business.

Ideas For an Online Business

Perhaps the most difficult thing when we want to start is knowing how to start a business and what to do. But this occurs both in physical and online businesses.

Sometimes, starting a business online is as easy and simple as having the audacity and the courage to carry out an original idea.

You would be surprised to see the number of business ideas that are online and that have been successful; from selling glasses and caps for dogs to sending letters posing as Santa Claus.

If these curious and wacky online businesses have been successful, why not yours?

There are plenty of ideas to create an online business: from internet sales such as setting up an online clothing store, craft products, or selling eBooks, to offering services such as creating courses on your specialty and selling them on your website, creating a coaching website, or marketing.

Of course, there are more profitable online business options than others, but for now, let’s focus on an idea that seems good and passionate to you and has its place on the internet if there is enough demand and little competition.

I will leave you with an example of a successful online business that quite surprised me:

The Million Dollar Page:

This is a website that was founded by ​​a 21-year-old student named Alex Tew. 

To finance his university career, a few years ago (in 2005) came up with the idea of ​​creating a website with a million pixels, and selling each pixel for $ 1 so that whoever bought it could put whatever they wanted: links to their website, advertising.

The idea seems silly, but the truth is that it gave a very good result.

Advertisers could buy as many pixels as they wanted to advertise and display their brand, logos, slogan, or phrase, or your company’s ads that would be hyperlinked to the URLs of their web pages.

A few months after the launch of this idea, the last pixels were sold, bringing in an income of more than a million dollars.

The website in question is still open, and you can see it here: http://www.milliondollarhomepage.com

This is just one example of luck and originality that has turned out to be a success.

Afterward, there have been several attempts to replicate this idea that have ended in failure.

Of course, starting a business is not an easy journey, you will need perseverance and effort, but it will be worth it.

If you think that it is going to be easy, you are very wrong, you can take a risk, and you will hardly lose money since it is a business that takes little investment and it is easy to recover the $70-80 per year that a website costs you.

But if you really would like to live from an online business, you will spend something more precious than money: your time.

We have seen that creating an online business is much cheaper and more profitable than creating a “traditional” business.

We have also seen that any idea that can become a business can be good if you are passionate about it and dedicate time and effort, as long as there is demand.

You have even seen that a somewhat absurd idea can be a clear example of a successful online business.

I hope this article has helped you give you that little push you needed to take the big leap and decide once and for all.