13 Online Business Ideas for Beginners

There are several online business ideas for beginners; however, some are more profitable, cost-effective, and relevant. To start an online business, you only need a stable internet connection, a skill or a product, and a website (not necessarily for some), making it a great option to make money, save time, and cut costs.

If you’re starting an online business and have no idea what to sell, follow us as we share over 13 of the best online business ideas for beginners in this guide.

Social Media Management and Marketing

Social media marketing and management is one of the most lucrative online businesses to start now. Why? Social media is booming, so if you have a passion, a stable internet connection, and can grow and manage social media pages, you already have all you need to get started. 

The best part is you don’t have to commute to an office to work. You can work from anywhere, anytime, except your contract terms say otherwise.

Pros and Cons

With social media content and management, you can be sure of consistent work if your client is willing to spend to gain visibility every month.

Some advantages to being a social media manager or marketer include:

• Growing demand: An influx of people are using social media to find products they need, and businesses are constantly looking for buyers via social media. Over 93 % of marketers are actively using social media for promotions.
  
• Cost-effective: It requires low investment to start. You can start a social media management business on any device with internet access.

You can also work with various industries, expanding your expertise and business network.

Although being a social media manager has benefits, it also has downsides. We are ensuring you know these cons so you know what you are getting into.

Let’s see them below:

• Constantly evolving field: Keeping up with every trend and algorithm rule in the social media book can be a hassle, but that’s your job.
  
• Taking on multiple roles: Some clients expect you to become a content creator, graphic designer, videographer, content strategist, and brand designer as a social manager. You would expect a pay increase, but most clients won’t pay you more for the extra responsibilities.
  

Also, clients may expect tangible growth quickly, which can vary due to the unpredictable nature of social media engagement.

How to Start This Business

While there is no one way to start a social media marketer, we have prepared a short list to help you get started.

See it in the list below:

• Educate yourself: Stay abreast of the latest trends, algorithms, and best practices across all major platforms.
  
• Build your portfolio: Start by managing your social media profiles to help you showcase your skills to clients.
  
• Define Your services: Create packages outlining your offer, whether content creation, strategy development, analytics, or a combination.
  
• Market yourself: Use creative means to promote your services and network with others to acquire more clients.

You must keep learning to stay on top of industry trends and continuously improve your skills. With the right mindset, you will see reward in time.

Content Creation and Writing Services

Starting a copywriting and content writing business is a great online business idea. You’ll earn a high income with low investment, especially now that businesses can’t do without content.

Let’s see the pros and cons for this type of business below:

• Pros: Running your own business without content and social media is almost impossible. There is a high demand for content creators and the opportunity for diverse income streams. You can make money as a content creator in different ways. For example, you can start a blog or create content for a small business brand.
  
• Cons: The writing profession is overcrowded and saturated, so it becomes a struggle to stand out. Also, the workload may become unpredictable, especially as a freelancer, unless you have consistently built a brand, blog, business, and YouTube channel.

To be one of the best, you must stay consistent with learning and adapt to new content trends and platforms.

In order to start, review the next checklist with the requirements:

• Choose a niche: While most experts suggest inching down, more writers struggle with this, so having multiple niches for which you write or create content is acceptable.
  
• Build a portfolio: Creating a portfolio as a writer could be easier than creating a social media manager because you can create personal projects tailored to your industry needs.
  
• Market your services: The essence of content is marketing, so it won’t make much sense if you aren’t actively promoting yourself and seeking new opportunities.

Starting a content creation and writing services business requires dedication and strategic thinking. You also need to get your hands on tools that make your work more accessible to help you deliver quality faster.

Affiliate Marketing

Affiliate marketing has become increasingly popular amongst serial entrepreneurs, bloggers, and videographers.

To become an affiliate marketer, you must find a supplier or join affiliate programs, get a laptop, and have internet access. You can sell anything with little investment and make a massive income.

Below, we will review some of the affiliate marketing pros to help you get started:

• Cost-effectiveness: Starting an affiliate marketing business can be a cheap investment and sometimes free.
  
• Passive income potential: Once you have built your affiliate marketing business, you can generate income 24/7 with little to no effort needed to maintain sales.

The beauty of affiliate marketing is that you don’t need expert knowledge or qualifications to start. You may also make your first sales without investing any money, making it one of the best ideas to venture into this year.

Of course, there are some disadvantages you should be aware of:

• Dependence on Merchant Success: If your merchant discontinues their affiliate program, it will affect your earnings.
  
• High Competition: Since the barrier to entry is low, affiliate marketing is highly competitive. Standing out will be tricky.

Some affiliate programs have lengthy payment cycles, which can delay earnings. You may also be unable to withdraw below a particular threshold.

In order to start with affiliate marketing, do the following:

• Choose a niche: Make sure the niche you choose is one you are interested in, profitable, and knowledgeable about.
  
• Select the right affiliate programs: Find a suitable affiliate program that offers products or services relevant to your niche with competitive commission rates.
  
• Choose your traffic sources: Consider creating quality content that provides value to your audience to integrate affiliate links naturally within your posts.
  

The good thing about an affiliate marketing business is that you don’t have to have an online store. However, you must regularly review your performance data to understand what works and refine your strategy accordingly.

Dropshipping

Dropshipping is an alternative to affiliate marketing if you want to have the products under your brand name and have an online store. It addresses the con of affiliate marketing, where customers can quickly go to stores you introduced them to without necessarily using your affiliate link.

Advantages of dropshipping include:

• Low startup costs: You cut extra business costs without worrying about inventory management.
  
• Wide selection of products: Since you don’t need to buy items before selling, you can offer your customers various products.
  

Ecommerce dropshipping is one of the best online business ideas for selling to customers without managing inventory. It allows you to cut costs and avoid delivery hassles. 

Nex to the advantages, there are also some disadvantages that you need to consider:

• Low margins: The dropshipping market is competitive as a result of the low barrier of entry.
  
• Inventory issues: Since you’re not managing the stock, it can be challenging to keep track of inventory, leading to potential stock-outs and customer dissatisfaction.
  

Sometimes, things can get out of hand, and shipping delays may occur. Although this may be out of your hands, you must ensure it is safe.

Like other businesses, dropshipping requires significant effort and time in market research, supplier relations, and customer service. However, you can start small and scale the business.

Online Coaching and Consulting

An online coaching business is excellent for professionals with years of expertise. Meanwhile, the global coaching industry will likely keep experiencing exponential growth. 

One of the most significant advantages of online coaching is its flexibility. You can choose to do only consulting one-to-one sessions, group coaching, online courses, and digital products or sell online courses. 

At the start of the business, you may not need much money, but you need to consider the years of experience that make you an authority in your niche. 

Of course, you need to consider the low barrier to entry has led to a crowded market, making it challenging for newcomers to stand out without a clear, unique selling proposition (USP) or niche focus. In addition to that, having effective meetings with your clients online may be difficult due to network issues.

Running an online coaching business requires a certain level of tech-savviness, from managing a website to understanding digital marketing strategies.

In order to start such business, do the following:

• Identify your niche: Start with a clear understanding of your expertise and who you can help the most. 
• Get certified: Depending on your industry, obtaining relevant certifications can boost your credibility as a coach or consultant.
• Build your online presence: Create a professional website and leverage social media to share valuable content related to your niche.

Starting an online coaching and consulting business involves having years of experience and leveraging digital marketing strategies effectively for success. It offers free content or consulting hours to get our clients hooked.

Virtual Bookkeeping and Accounting Services

Owning an online accounting business is a lucrative way to use your accounting skills. You don’t have to wait for an employer to hire you before you can receive gigs. Instead, you can build your brand and offer accounting devices on a contract or freelance basis. 

The following are some advantages to bookkeeping and accounting virtually:

• Increased demand: Accounting and bookkeeping are significant skills that have existed for a long time, but with digital transformation, more businesses are interested in virtual financial management needs.
  
• Cost efficiency: Virtual operation allows you to customize costs in the physical office, including rent, utilities, and commuting expenses.

Like other online businesses, you can choose your clients, work hours, and specialization areas. 

With every positive, there comes a negative. It’s up to you to decide below:

• Technology dependence: This online business relies heavily on technology, meaning technical issues can disrupt delivery.

• Security concerns: You must exchange and withhold client information using stringent security measures to prevent data breaches.

It may be challenging to sustain or find customers who will trust you with their data over the Internet.

In order to start, consider the following:

• Get qualifications.
• Invest in reliable accounting software and a secure, high-speed internet connection.
• Use different channels for marketing your service.
• Prioritize security above others.

Virtual bookkeeping and accounting services have tremendous benefits, including cost savings, flexibility, and growing market demand. However, they also heavily rely on technology, security, and marketing for success.

E-commerce Store for Handmade or Unique Products

Starting at an e-commerce store to sell handmade and unique products driven by your creativity is a great way to leverage technology.

The rise of online shoppers and mobile users gives you an edge in expressing creativity. Whether creative or not, you can still sell without owning the products.

Below are some other benefits of this business:

• Increased Reach: With an e-commerce store, you can reach a new audience.
• Lower Overhead Costs: An online store can be less expensive than a physical shop, with savings on rent, utilities, and staffing. However, you should consider the cost of opening an e-commerce store.

Some disadvantages include:

• Competition: it’s not easy to make your e-commerce rank for keywords, and if you choose to go the paid way, you need to learn or pay a professional to help you build one.

• Technical challenges: Setting up and managing an online store requires some technical knowledge, which can be frustrating for beginners.

Selling without an online presence can be difficult, so building one with solid marketing and customer service efforts is essential.

If you are ready to start your new business journey, we have a few things for you to have in mind:

• Market research: Get to know your target market’s needs.

• Choose the right platform: Finding a beginner-friendly ecommerce platform can help you build a store quickly. Consider factors like ease of use, customization options, and fees.

• Promote your store: Produce high-quality content and product images and use compelling product descriptions to attract customers. Also, use digital marketing channels to keep promoting your product.

Starting an e-commerce store for handmade or unique products may be perfect if you want to combine passion and entrepreneurship. However, consider the upfront costs and challenges.

Online Tutoring and Teaching

Since the pandemic, students have embraced online tutoring to learn. It’s not only flexible but also personalized and caters to the individual needs of each student. The global online education market will rise with the advent of online course platforms like Coursera and Udemy.

Below are the advantages of being an online tutor:

• Accessibility: Accessing education over the Internet is easier and offers flexibility. It allows self-paced teaching at the student’s request.

• Resources: You can choose the most suitable means to teach students. It could be better interactive exercises or video content, enhancing the learning experience.

With online tutoring, students from anywhere can access your teaching materials, meaning you can also target international students, leaving room for extra income.

Online tutoring requires a stable internet connection and working devices, which might not be available to all students. Additionally, home environments could cause more distractions than traditional classroom settings.

Also, we have prepared a checklist for starting an online tutoring business in Nigeria:

• Determine what subjects you are qualified to teach and passionate about.
• Get Certified.
• Choose a platform for your tutorial style and subject matter.
• Market Your Services: You must identify how to market your service and get more students to patronize it.

Overall, online tutoring and teaching offer a flexible and accessible educational option suited to today’s learners’ diverse needs and schedules. However, success in this field requires addressing its inherent challenges, particularly technology and student engagement.

Website or Graphic Design Services

The demand for graphic design has increased drastically. Every business needs graphic design, from logos to social media posters. According to a report by IBISWorld, the web design services industry has seen an annual growth rate of 5.6% from 2023. 

The following are the advantages of being a graphic designer in this digital age:

• High demand: Graphic design contributes to content creation today. More people are needed to understand it in depth.

• Flexibility: Design, like writing, allows you to be flexible with your working hours and expand your business with minimal overhead costs.

• Creative exploration: Graphic design offers the opportunity to unleash your creativity.

As a graphic designer, you can help businesses with their logo design needs, as design especially creates customers’ perceptions.

The following are the disadvantages of design services:

• Fierce competition: the graphic design market is oversaturated with designers of different styles. Standing out without a unique value proposition or niche will be challenging.

• Constant need to upskill: You must evolve by continuously learning to stay relevant.

Finding the first few clients for beginner designers can be demanding and might require extra marketing efforts.

There is more than one way to become a graphic designer, so we have prepared a checklist of how to become a graphic designer.

Check it below:

• Acquire the necessary skills: The first step to becoming a designer is to acquire formal and informal training.

• Build your portfolio: Create a strong portfolio showcasing your best work. Let your portfolio show your focus on customers.

• Choose your traffic source: Think of creative means to promote your business and choose the social media platforms that your clients are likely active on.

Starting a graphic design service comes with tremendous opportunities, and so are challenges. If you are considering this journey, the prospects are promising, supported by the industry’s growth trends.

Online Language Translation Services

Technology has brought the world together, but language is still a barrier. The world needs translators to communicate with foreign clients, partners, and employees. 

Being an online translator has several pros, like the following ones:

• Growing market: There is an increasing need for businesses to interact with foreign clients for translation services.

• Flexibility: You can work anytime from anywhere and expand as your business grows.

• Diverse clientele: You may not need to niche down since your primary job is translating the content of a business conversation.

Companies seek to expand their reach and connect to a global audience, making translating websites, marketing materials, legal documents, and more mandatory.

The most significant disadvantage of being a translator is that finding jobs that fit the languages you can speak may be challenging. For example, speaking only Spanish and Italian may make it difficult to do Spanish-to-English translation jobs. 

In order to start this online business, make sure to check the following:

• Market research: Identify the languages and services in high demand but with less competition to find your unique selling proposition (USP).

• Build a qualified team: Although you are a genius, you can’t know all languages, so hiring a professional who can speak on-demand languages is best.

• Marketing: Promote your business to the right audience.

With an online translation service, you can meet new people and network with foreigners in prominent positions that can help you further your business.

Podcast or YouTube Channel Creation and Monetization

There has been a rise in podcasting and video creation on YouTube lately, thanks to the multiple earning options available. Starting a podcast or YouTube channel aims to reach a global audience with compelling content. It also offers many monetization opportunities, such as ad revenue, sponsorships, merchandise, and membership platforms like Patreon.

The podcast and YouTube industries have low entry barriers, making it challenging to stand out. It may also be time-consuming to produce high-quality social media content consistently. Lastly, your earnings are based on views, ad rates, and sponsorships.

If you aim to start a podcast or YouTube channel in 2024, then you need the following checklist:

• Identify your niche.
• Understand your audience.
• Invest in essential equipment: microphone, lighting equipment, and editing software.
• Create and publish regularly.
• Engage with your audience.
• Choose monetizing options.

Opportunities are boundless for those willing to invest time and effort into creating engaging, high-quality content. Statista’s full report contains more detailed statistics and insights.

Online Event Planning and Coordination

Since the pandemic, there has been a surge in online events, with several events needing the help of online event planning and coordinators. This is an online business with low competition. The following are the pros and cons of becoming an online event planner and coordinator.

Online events are more cost-effective than physical events but do not involve expenses.

The following are reasons you should consider the online event planning and coordination business:

• Lower startup costs: You don’t need to spend your money to plan any event, even for a volunteer event, when building a portfolio. Your clients will handle the billing.

• Flexibility: Like all online businesses, it allows flexibility, but you may take more time for larger projects.

• Scalability: Thanks to digital tools and platforms, your business can handle multiple events simultaneously.

For entrepreneurs, starting an online event planning business means lower overhead costs, as there is no need for physical office space and the ability to work with a global client base.

Of course, at least a thousand online events take place simultaneously so that the industry may be competitive because of the low barrier to entry.

The following are some important things to help you navigate your journey in the event planning business:

• Identify your aim with your business and market offerings by carrying out market research and business plans.

• Build a portfolio of volunteer projects at large gatherings.

• Find and leverage suitable technology.

• Promote your business on social media and networks to build your brand and attract clients.

Starting an online event planning and coordination business requires dedication, adaptability, and teamwork.

Virtual Personal Shopping and Styling Services

The virtual personal shopping and styling business is less competitive because few consider themselves fashionistas. Even those who sell stylish outfits don’t consider themselves stylists. 

Most people don’t visit physical stores to get their dream clothes. They could use the help of a personal stylist to shop virtually. The advantages of offering personal shopping services are the increased demand and cost-effectiveness. People need recommendations for several reasons, like choosing their unique style or for events.

In Nigeria, finding steady clients may be challenging, so building a solid personal brand is essential. 

In order to start this type of business, follow the next advices:

• Start by identifying the niche you want to style, i.e., executives, bride and groom, and celebrities.

• Invest in building a portfolio by styling your friends.

• Network with people in the industry to get clients.

Your focus should be reaching your clients and building a name in the industry. By leveraging technology, identifying a niche, and building trust with clients, you can overcome the challenges and make your mark in the digital fashion world.