Coming up with a completely new business idea from scratch can be tough. Especially if you have never dabbled in starting your own business, profitable home business ideas can be seen as something elusive and mystical – far away from the average crowds.
However, it doesn’t need to be so! The business world is always changing – and the COVID pandemic has shown us that you can do wonders even from the confines of your own home! Nowadays, it is easier than ever to start a business from home! All you need is an amazing and inspirative idea!
1. Start a blog
One of the easiest things you can do from home is to start a blog. This can take a while to grow – just like a “real” business – but the benefits you can reap from it can reach seven-figure numbers!
If you do not know how you can make money by blogging, there are three distinct ways you can focus on:
- Your time – by coaching, tutoring, and similar.
- Your products – e-commerce and SaaS (Software as a Service) businesses are blooming in 2020.
- Other people’s products – by generating enough traffic, you can earn quite a nice revenue from ads on your blog.
However, there are two schools of thought on how you should approach this. Some believe that you should write about what you love. This will give you the energy to keep pushing forward, even when things get tough.
On the other hand, other people want you to look at your blog as a business. Plan for its scalability, target traffic from the start, and you should succeed much quicker. I advise you to think about both methods carefully and do some thorough research before starting.
2. Start a dropshipping website
It is not only e-commerce that has come into its prime in the quarantine! Dropshipping has also become a favorite amongst the new entrepreneurs stuck in their homes. What is allows you is that it bypasses the worries of selling and shipping products yourself.
Instead, you act as an online retailer. You post and sell wholesale products, and then send the shipping information to the wholesaler. The customer will pay you the retail price, while you pay wholesale to the supplier. The difference is an easy profit you keep for yourself!
However, I strongly advise you not to jump into this headfirst. Just like with all of the ideas on this list, you will need to do some research first. In this case, you will want to figure out which products are in high demand. Then, after some thorough market research, you can sit down and create your dropshipping website.
3. Start a podcast
Did you ever have dreams of running your own talk or radio show? Is writing a blog something that doesn’t appeal to you – although you would like to do something similar? Then why not try starting a podcast?
Due to people being locked in their homes – as well as technology improving since the mid-2000s – podcasts have risen in popularity. Even better, just like with blogs, podcasts can help you earn a nice profit.
All you need to start is a good microphone and some peace and quiet. Plan out your episodes and hit that record button to start! After some time, you should, of course, start thinking about developing your podcast like a business. You might want to invest in better equipment and sing up for podcast hosting. This will improve the quality of your podcast and make you more money.
4. Become a social media manager
If you like networking and helping people, as well as spending your time on social media, then you might want to become a social media manager. Many businesses have only recently begun to understand the power of social media marketing. Nowadays, though, they are spending millions on it!
The math is simple – with billions of people having accounts on one or more social media platforms, creating a small campaign can be quite an easy investment. However, these businesses need someone who understands how social media works – and that person can be you!
Again, you will need some training and skills. Dedicate some of your time to learning the ropes, and you will be making money in no time!
5. Develop an app
Have you ever thought: “I wish there was an app for that!” Well, if you did – then you probably were not the only one! These days, it can feel like there is an app for everything. But, when you find you are in need of something that has no “app coverage,” then you can make a lot of money from this discovery!
All you need are some basic coding skills! Luckily, there are hundreds of courses where you can quickly get these skills online. So, do some market research, learn some coding, and start typing!
About the author: Petar Dordevic is a content writer at IdeaBuddy, the best business planning tool in the industry. He has a bachelor’s degree in Mathematics and is finishing his master’s degree in General Math. When he isn’t glued to his keyboard writing, he spends time reading epic fantasy and watching sitcoms, as well as learning more about content optimization and online writing.