A lot of people are searching for ways to make good money. It’s not easy, I know. However, doable.
If you are toying with the idea of starting your own business and dreaming of becoming your own boss, but do not want to have huge barriers of entry!
It’s time to stop dreaming and get started because I will share with you five great ideas to start a business that has a low barrier entry but are hugely profitable.
Let me be very honest with you … there is no such thing as ‘free money’ without doing anything – even those that claimed to give one require you to do at least one thing which can be like as simple as sharing your email or something sort of that!
However, if you are into it and really want to make good money, you need to give something – maybe your time, money – whatever – you must be willing to put in the hard work so that you can reap the benefit.
Now, there are many businesses you can start with but we will talk about those businesses that have very low entry barrier and does not require you to invest a lot of your money but your time – yes, you need to invest a good amount of time to become really successful in what you are doing.
Here are the 5 Businesses you can start to make a good amount of money.
Remember, you are not likely to get the results instantly. It will take you some months to reap the benefits of your work. Be patient and consistent. Consistency is the KEY.
1. Start your own course or class
Most of us have something in us that we can pass on to others better than someone. By starting a course, it didn’t necessarily mean you must be a degree holder – no- even if you are a college dropout or you hold a number of degrees it doesn’t matter – there is something you are really good at.
It can be cooking or creative art or anything. Yes, I am talking about those things which are good in doing and also enjoy doing them!
In fact, schools and universities are making billions of money doing that – starting courses!
It doesn’t strike you right? But, it’s true. And you know there are a million things which those schools and universities didn’t teach you! That’s how you come in! Filling the gap.
Look around you, see social media, the internet – find out what people are looking for – find the need!
When you find it, see that you have got what it takes to teach someone!
For example: You know how to play the flute. There are people out there who want to learn to play the flute but do not have the necessary fees to enroll in a proper music school or they just want to learn it personally as fast as they could – you can tutor those people.
Due to the pandemic and recent recession, more and more people are spending more time at home and a lot of people want to invest their time in learning something to encourage or improve themselves. Many people really want to invest in themselves.
It is different to just learn the outer part of something than to learn something from someone who knows what they are talking about – something that’s cutting edge.
2. Start A Membership Club or Website
After you develop a course, the next thing is to develop a membership club or website because there will be a community associated with your course.
Having a membership club will add another revenue to your income because you will have an audience where ideas can be shared within membership club where you can develop relationships with like-minded people and one of the best ways to build a network of your own followers.
It will be easier to promote affiliate products within the club as your audience will trust you.
A good course will let you to add an upgrade as and when it is required. You can charge an additional fee if you want.
However, do not be too greedy in pricing everything as this might lead to losing your audience. The thing is you have to be strategic and give value to your audience and strive to improve according to the demands.
To start a membership club or website you will need a domain name which should be the same name as the club and a hosting provider.
A domain name is like the address name of a house and web hosting is like the physical address. Your domain name will not be seen unless you host it on a server.
You can get a free domain name for a year and affordable hosting with DreamHost. Some people prefer Bluehost which is also very affordable however the renewal price is high.
One very important thing I want you to know is not to purchase your domain separately. DreamHost or Bluehost will give you a free domain name of your choice on availability when you purchase the web hosting service.
A membership site is also a blog website that has certain features like a password-locked members-only area, membership form, and join us page.
It also includes the following:
- Blog content or videos.
- Downloadable templates or worksheets.
- Online courses.
- Live webinars.
- Membership perks like digital products or points.
- A forum or community section where members can interact.
Start a membership site with DreamHost here.
3. Start A Blog
Starting a blog and making money out of it is not an easy feat to achieve. It takes time and real effort to make it work.
Even though millions are people are consuming video content, when it comes to knowing things the faster way, they search for blog articles. So, a blog website is always profitable and helpful and many people prefer it too.
There are many niche topics you can choose to blog about. You can start a review blog site in which you write about software, any services, and so on. Software is easy to sell because it can be downloaded and used right away.
And you don’t need to go to those obvious and common niches like making money online or health and fitness blogs. You might never be able to rank unless you have unique strategies that can compete with those big giants in those niches.
So instead of going for those, you can pick sub-niches.
For example: The term health is so broad. Instead, you can pick a specific category like a baby’s health or diabetes, etc. They are more specific as they cater to specific people and their needs.
Likewise, you can pick a different category like toiletries. If you are wondering how you can make money out of it, you will be surprised to know people are making a killing out of it. The reason is there are hundreds of products you can promote in this niche and the competition is very low. You got the idea right? Just pick one of those niches and start.
Another profitable niche is software reviewing site and putting affiliate links within the articles. Software affiliate programs pay you commissions as high as 90% and that is huge!
I know that sounds easy but as I said, it’s not that easy but very doable. Be patient and consistent in updating your articles. Once you got some audience, apply for Google ads.
You will need a domain name and web hosting. Choose a domain name that is similar to your niche so that people will be able to easily know what your site is about. Try to go for something that is easy to remember.
I would recommend you not to buy a domain name separately because your web hosting provider will give you the free domain name of your choice for a year.
And if you are just trying to get started, here is a complete guide on How To Start A Blog.
4. Start A YouTube Channel
YouTube is such a great strategy, especially for people that don’t want all the tedious stuff of other business things.
You can make a video course type and upload it on YoutTube.
The best part is you do not need the 1000 subscribers or 4000 watch hours to make money on YouTube. You actually can start making money from your videos by doing affiliate marketing.
There are tons of videos and tutorials on how to make videos or create a YouTube channel. Mind you, it won’t be as easy as someone say! It’s never that easy! What you saw and heard is the tip of the iceberg.
If it is as simple and easy as someone said about creating a channel, then everyone would be a millionaire by now because as of today, there are more than videos that are uploaded on platforms like YouTube alone!
What is more mindblowing is there are more than hours of videos that are consumed every hour!
This means two things – there are other people who create or try to create content and there are tons of people who are waiting to consume those content.
And that left you with this – You should actually stand out so that you can get noticed!
Think of an idea or niche where you can capture the attention of people and create a YouTube channel based on that!
It takes some time for the YouTube algorithm to begin to pick up your work, but once it does, there is no going back as long as you consistently upload valuable content. And this ultimately will give you passive income.
Here is a Complete Guide On Making Money With YouTube.
5. Become a Freelancer
By freelancing, you can give service of your expertise in different ways. You can be a content creator, social media manager, event manager, Facebook ads manager, and so on.
Focus on video editing because video marketing is exploding and as more and more marketers turn to videos to reach their audience, the demand for video editors is increasing.
It is not surprising why people prefer video media over other things just for the fact that not only videos are entertaining, but they also help us to know and remember things. The impact of videos is immense.
Editing a video takes time and skills. The more skillful you are, the more you have the chance to stand out.
If you know how to edit videos, you are at a greater advantage. All you have to do is try to focus on a particular niche – like editing video ads or something which do not cater to a broad category of people but to some specific category so that your reach can be more!
Register yourself at Fiverr or social media like FaceBook pages, and LinkedIn. It’s a matter of getting the first few clients who leave a good remark on your work.
That being said, I must tell you that it’s actually easier said than done! But, if you persevere, you will get your clients. And once they give you their good reviews, your business will grow.
And if you think you do not have the necessary skill, you can take a course or tutorial videos on YouTube.
There are plenty of informational videos which will teach you. You will actually find videos for any topics you can ever think of under the sky!
The best part is you can do all those things along with Affiliate marketing.
I know what comes to your mind when you heard the word affiliate marketing!
Actually, if you think about your daily life routine, somehow, somewhere you happened to talk about that ‘good product’ you personally use for your friends or colleagues! And that is actually Affiliate marketing!
The difference with what we are talking about here is that you do not get paid when your friend buys a product just because you said it’s good!
You can do the same thing but get paid for doing so! Companies want to sell their products and spent tons of money each month on advertisements and promotions.
But when an affiliate promotes their product, they spent less and they need not focus on how to promote the product because that becomes the headaches of their affiliates now!
So, affiliate marketing is an innovative way for uh companies to sell their products to a larger ground of people.
There are numerous ways to promote your affiliate products.
Some of the most effective ways to promote affiliate products are:
- Starting a blog review site
- YouTube channel
- Using ads – solo ads to targeted countries.
- Using social media platforms like Facebook, Instagram, Pinterest, etc.
You can promote products on your blog site, membership site, and social media platforms.
Conclusion on 5 Business Ideas To Make Good Money From Home
The 5 most profitable businesses you can start to make good money are:
- Start your own course or class.
- Start a membership club or website.
- Start a blog.
- Start a YouTube channel.
- Become a freelancer.
There are many more things you can start and have a profitable business. These are some of the businesses you can develop with time and create continual streams of income without the need to invest a huge amount of money. In fact, you can also start without spending a dime!
I must remind you again, that you are not going to make money right away even after you put in a good amount of work. These things take time – on average a 3-month time to see real results!
I do not say this to discourage you, but to let you know the real truth so that you do not become dishearted after a week of work or so!
DISCLAIMER: This post may contain affiliate links, meaning I will get a small commission without any extra cost to you – if you decided to make a purchase through the links given. For more information, please read my Affiliate Disclaimer.