Lucrative Small Business Ideas

Looking for lucrative small business ideas? Why not build your own internet based business from scratch? Most small businesses (also) have an online presence and even if your small business idea is a physical business, it can be built with online marketing tactics and strategies to reach a larger audience.

Lucrative Small Business Ideas

The world is going digital. Any small business without an online presence will fall into second place to those who create one. The Yellow pages, White pages, Telephone Directories and Thompson’s local directory are all slowly becoming obsolete. In 10 years will they even still be used? Perhaps, perhaps not. But what we do know is that more and more people are using the internet to find businesses instead of looking in their local directories. Some directories have already taken to the internet to ensure their businesses will survive.

Lucrative Small Business Ideas – Growing Trends

The growing trend towards a completely online business is closing physical stores down. Blockbuster video is a great example of what has already happened. Growing digital technology has meant that looking around a DVD rental store is no longer necessary. Simply browse online and download immediately.

You can live stream any film you want instantly from the internet. How long will it be before people demand this kind of convenience from every aspect of their lives? You can have almost anything sent to your house with only the minimum amount of fuss. Even food shopping in a store is no longer necessary now that we can order deliveries of our favorite foods online. Once our order is set up, we only need to click a few buttons to re-order our ‘usual’ grocery shop which would otherwise have taken us hours to get.

lucrative small business ideas

Lucrative Small Business Ideas – Convenient Small Businesses

Businesses too are being built on the convenience premise. Before we start a business it’s worth asking what we want from our business. Of course profit is high on the list but given a few years of hard graft, how do we see ourselves working in that business? Are we creating more freedom and flexibility for ourselves in the future or just tying ourselves down to a job that we ‘own’. Can you sell your business in the future and walk away from it? Do you want to be passionate about what you do or is money enough of a motivation?

The convenience which comes with the internet can also be used with an online business. With an online business you can work from your laptop with an internet connection. You don’t need staff, stock or a physical premises. You don’t have to talk to any customers. You can build an internet business around your lifestyle choices.

Whether you choose an internet business or not, most businesses now use the internet to advertise. An online presence is vital to the success of most businesses and it’s worth learning these skills whether or not you build an online business or a physical business.

Lucrative Small Business Ideas – Use Of Digital Technology

lucrative small business ideas

Digital technology must be part of all growing businesses for them to succeed (arguably). For a business to be profitable you need customers. The internet allows you to serve more people than you can physically serve alone. It also lets you reach people appropriate to your business through targeted advertising. It can do this and communicate with them, building a relationship through email marketing. And, it can do all this on virtual autopilot without the need to even talk to anyone, send anything physically or even have any staff. This technology should be used to build an ever growing base of customers to your business, while communicating with them about your service.

Lucrative Small Business Ideas – Selling Digital Products Online

Selling digital products online allows you to automate the purchase and delivery of products through an online platform. You can of course sell physical products online too and have a third party deliver them. You can do this through drop shipping companies or with affiliate marketing.

Drop Shipping

Drop shipping companies deliver products straight from the manufacturer to the customer. You find the customers online through internet marketing. The drop shipping company sends the products and you get paid. You simply set up the sale with online marketing.

Affiliate Marketing

Affiliate marketing is a similar type of third party selling. You set up a sale and send customers to online products and services. When they purchase through your link/website you earn a commission for the sale. The products themselves are delivered by the owner. In the case of digital products they can be downloaded or accessed instantly.

Lucrative Small Business Ideas – The Benefits Of Selling Digital Products

Lucrative small business ideas

Selling digital products is good because they can be accessed immediately online. For example, if you sold a membership to a particular website, your customer can login straight away. They can also download digital items such as e-books and guides. This has a few advantages:

  • You can automate the sales through a platform and drive traffic (customers) to it.
  • You can make monthly commissions based on membership sales
  • You can scale the business up with a paid advertising campaign
  • The business model allows you to work from anywhere and at any time
  • You can benefit from work done previously, over and over.

Lucrative Small Business Ideas – Start An Internet Business From Scratch

Anyone can learn the skills involved in both building their own ‘from scratch’ internet business, and in using digital technology to grow any business and increase its online presence. Learn skills such as online marketing, building a fully functional sales funnel with a range of built in products and access a full free month of training and a pre-built business system here.