What business should I start?
The best business ideas to start should consider market timing, personal interests and revenue potential. With businesses being closed down across sectors after the pandemic, it’s more important than ever to consider a wide range of factors before deciding where to focus your time and energy. And what future opportunities will exist in the future in the industry your decide to build your business in.
We are in a skill and knowledge economy now, and the more targeted and in demand your skill, the faster you will be able to create consistent income. In addition, the more you are able to stack your startup on already existing tools, the faster you can scale on your own.
Below is a list of ideas for businesses you can start on your own in 2022 with low startup costs and high revenue potential. These businesses can begin as side projects which can be turned into full time businesses.
I started three different businesses from scratch with a blog and minimal startup costs, and still in 2022 it is the best way to build your brand, service, or message on your own platform.
1. Best online small business idea – Building a profitable blog. If you’re passionate about writing and want to share your insights with the world, then starting a blog is the perfect business idea for you! In order to be successful, you’ll need to choose a niche topic that you’re knowledgeable about and make sure to produce high-quality content that will engage your readers. Additionally, you’ll need to actively promote your blog through social media and other online channels.
To get started, all you need is a domain name and hosting plan. Once you have those set up, you can begin creating content for your blog. If you need help getting started, we will be posting the ultimate guide to starting a profitable blog.
If you are interested in starting a blog these are 3 popular blogging models:
-Build your own consulting business by showcasing your expertise
-Review and sell products on behalf of companies
-Sell your own products
2. Online course creator
Creating your own online course is a fast way to monetize your expertise. There are many tools to expedite the process so you can be up and running quickly. An online course business is a great way to make money online. Course creators can create a nice scalable income by teaching others what they know. If you have knowledge in a particular subject, you can create an online course and sell it to others who want to learn what you know.
There are many different ways that you can build an online course business. You can use platforms like Thinkific or Teachable to host your courses. You can also create your own membership site where people can access all of your courses for a monthly fee.
If you want to be successful as an online course creator, it is important to create high-quality content that people will want to pay for and show people how they can get a particular result they are looking for.
3. Coaching/ consulting business
Virtually every industry offers the opportunity to run a consulting business. For industry veterans consulting is often a natural jump into solopreneurship with already having developed a network of connections. If you have experience or knowledge in a particular field that you could share with others, starting a coaching or consulting business might be the perfect business idea for you.
4. Ecommerce business
An ecommerce business can be built selling your own products or you can build a business around selling and dropshipping products on behalf of other companies.
5. Affiliate marketer
Affiliate marketing is a great way to create income for yourself if you are just starting out and do not have products of your own to sell. An affiliate sells products on behalf of other companies and receives a commission for each sale.
6. Data Analyst
A data analyst reviews and interprets data to solve problems or create recommendations for a company. Types of data analyzed can include inventory, sales, marketing as well as research for specific organizational projects. With the advent of machine learning and artificial intelligence, data analysts know have access to sophisticated tools to synthesize and interpret data
7. Financial Consultant
Financial consultants provide recommendations for clients short-term and long term financial goals.
Experienced advisors will create an overview of a client’s financial situation a develop a strategy based on the resources available for investing in tandem with their goals and appetite for risk.
8. Digital Marketing Manager
The primary responsibility of a digital marketer is to promote a product, service or personal brand. Effective marketers will run social media accounts, email list building and campaigns, and manage messaging and content. Storytelling is one of the most crucial skills to build a profitable digital marketing business.
9. IT Security
IT or cybersecurity experts are responsible for preventing unauthorized access to the infrastructure of an organization’s computer network. Specialists in securing networks are responsible for safeguarding all data and digital assets and often have a wide range of knowledge in cybersecurity. IT security specialists can branch off into different specialties and market their services to highly targeted audiences.
Podcasting tops the list for one of the most effective marketing mediums. In addition to solo or organizational podcasts, due to the increasing demand and popularity businesses now specialize
Want to be in front of the camera and promote your message? Influencers extend across social media promoting their personal brand, organization or products/services on behalf of others.
12. Etsy store
Etsy is an online marketplace where vendors can sell their own products by hosting an online store on the platform. Popular items sold on the Etsy platform include jewelry, art, furniture, clothing and digital products.
13. Drone Videographer
Drones have opened up new video production opportunities across industries including aviation, hospitality, filmmaking, agriculture, real estate and construction. For creators who like to be away from the computer out in the world doing their work, this is a growing space to enter. Drone videographers often can start as a single person operation.
14. App Developer
An app developer focuses on building end to end applications or tools. As of 2022 there are currently about 20 million app developers and 20,000 web 3 app developers. Skilled app developers can build highly profitable and lean startups.
15. Online Teacher
Also referred to as distance or remote, these teachers instruct individuals or students mainly online.
Teaching online requires additional skills from traditional in person teaching models to adapt to the platforms.
16. VR/AR Developer
A VR developer creates digital environments which are utilized in VR headsets such as the Oculus or HTC Vive. An AR developer creates a layer or overlay of digital information mostly used in games such as Pokemon go.
17. SAAS Business Owner
SAAS stands for software as a service and recent statistics suggest over 80% of businesses use a SAAS tool. The basic model is a service based subscription for an application that is hosted in the cloud. The subscription fees cover a license to use the application.
18. Solar Contractor
A solar contractor installs and maintains solar energy systems in residential and commercial spaces. A license is required to run a solar contracting business.
19. Fiverr/Upwork freelancer
Setting up a fiverr or upwork account and marketing your skills is one of the fastest ways to bring in immediate income for your business. Businesses and individuals searching for a particular set of skills can find you easily on these platforms.
20. Virtual Assistant
Virtual assistants are usually part-time executive assistants who oversee various administrative functions for a person or business. These tasks include arranging schedules, making phone calls, handling emails and various other administrative tasks. WIth remote work now being more mainstream and less businesses returning to offices, virtual assistants will be increasingly in demand.
21. Community Manager
A community manager is responsible for social media presence and outreach, marketing initiatives, and moderation. A successful community manager builds relationships with potential customers, advocates for the brand, and creates a space for open dialogue. Community managers often moderate conversations, comments or other online content to keep a respectful environment. Many new startups build their communities on discord to get instant feedback and need community managers.
22. Game Designer
With the current trend of blockchain technology and NFTs, there is no better time to start your own business designing games.
As a game designer, you’ll be responsible for the overall vision and gameplay of a video game. You’ll collaborate with artists, programmers, and other designers to bring your ideas to life. A big part of your job will be testing games by playing them, and then giving feedback to the development team. New game designers should have a strong understanding of blockchain technology and how NFTs can be used in gaming.
You can get started for free by learning Unreal Engine.
23. Web designer
With businesses increasingly looking to have an online presence, web design is becoming a popular option for those with creative flair and technical skills. If you have experience with web design, you can offer your services to businesses and help them create a professional website.
24. Freelance Writer
A freelance writer is a professional writer who writes articles, stories, and other writing for publication. A freelancer is usually not employed by a single publication but works independently, writing for many different publications. Some freelancers are also self-employed and work directly with clients, such as businesses or individual people.
Freelance writers can be hired for magazine articles, blog posts, web content, whitepapers, and e-books. Often writers have a specific niche such as writing about business, technology, travel, or food.
24. Ebay Store Owner
Building a business on eBay can be a great way to get started in e-commerce. You can start small, with just a few items to sell, and grow your business as you gain more experience. To be successful on eBay, you’ll need to provide great customer service, ship items quickly and safely and price your items competitively. Taking professional photos and accurately describing your items is critical to building a good reputation on ebay. You can either source items yourself or resell items you already own.
25. Online Marketplace
Building your own online marketplace can be a great way to start a new business. Marketplaces are profitable and provide a platform for businesses to sell their products or services. There are three main categories of online marketplaces, business-to-business (Alibaba), business-to-consumer (booking.com) and and peer-to-peer (Etsy).
You’ll need first to decide what type of items or services you want to sell. Then you’ll need to choose a platform that will allow you to create your own branded marketplace. There are some turnkey marketplace software solutions like Shopify. It is essential that the marketplace is easy for customers to use.
27. Professional Gamer
Professional gamers play video games for a living. They may compete in tournaments or leagues, and they can also stream their gameplay on platforms like Twitch or YouTube. Some professional gamers also work as brand ambassadors for existing games or content creators. To become a professional gamer, you’ll need to become excellent at playing video games and be able to compete with other experienced gamers. Gamers earn their income from play-to-earn games like Axie Infinity, winning prize money from tournaments, streaming their gameplay, or representing a gaming brand. Some of the top professional gaming leagues include League of Legends, Electronic Sports League and Fortnite.
28. App developer
App development: With over three billion active app users worldwide, there’s a lot of opportunity for businesses to get involved in app development. If you have experience with coding and software development, you can offer your services to businesses and help them create custom apps. App developers are in demand and you can get started quickly by registering on platforms like Fiverr or Upwork.
29. SEO Consultant
As more and more businesses look to improve their online visibility, SEO consulting is becoming an increasingly popular option. If you have experience with SEO and marketing, you can offer your services to businesses and help businesses rank higher in search engines.