Elegant Business man having a cup of coffee

7 Successful Online Business Ideas I startedTechnology and the internet has changed our lives in many ways. One of its biggest impacts has been in terms of opening up new ways to earn money on internet. Gone are the day when doing a 9-5 job or running a brick-and-mortar business were the only two options available to most people to earn a living.

These days there are several options for starting an online business, which if executed well can generate a handsome income and fast track your financial independence.

While there is no one-size-fits-all route to starting an online venture, I have listed below the 7 basic rules followed by most successful online businesses.

How to Start an Online Business in 7 Easy Steps??

  • Identify a need and provide a viable solution to fill it.
  • Design and build an attractive but easy-to-use website.
  • Write compelling copy that attracts potential customers/buyers.
  • Leverage popular search engines & SM platforms to drive traffic to your site.
  • Work on establishing an expert reputation for yourself.
  • Regularly follow up with your customers and subscribers via email.
  • Increase your income through back-end sales and upselling.

1. Blogging

Are you a talented writer with some expertise/experience in a niche domain (finance, technology, business, investment, cooking etc.)? If yes, blogging can be great medium for you not only to share your experiences online but also make money from it using proven methods like Google AdSense, affiliate marketing and paid advertising. The amount of money you make is directly proportional to the amount of work you put in. There are some bloggers who work sparingly and make just enough cash to meet their living expenses, while others have made it their full time occupation and earn a handsome living.

2. Language Translation

If you have a flair for languages, starting a language translation business online is another option you could look at. You could start by browsing online platforms like Fiverr or Upwork for assignments. Once you have built up your confidence and a portfolio of work, contacting popular bloggers directly to check if they would like to have their blog translated into another language is one way to do it and make good money with your linguistic talents.

3. Online Store

The e-commerce sector is booming in India and you could be a part of it. Now you have two options here. You could choose to start selling online on popular marketplaces like Amazon, Flipkart, Snapdeal, ShopClues, Paytm or opt to open your very own e-store online. In the first option, you just have to upload your products and the websites will take care of the rest for a hefty commission of course. If you decide to open your own online store, you get to create your own brand and you will be responsible for everything from inventory, marketing to end user experience. If that sounds like a bit much you could use online platforms like Shopify to help you set up your own store online.

4. Data Analyst Consultant

Do you have strong background in subjects like mathematics, economics and/or finance? If yes, then this could be a great online business option for you. In the digital age, companies and large corporation are increasingly on the lookout for professionals who can analyze large chunks of big data for them. This is where you come in. As a big data consultant you will help them decode tons of data to reveal crucial information about buyer behavior, spending habits, geographical preferences and more, which they incorporate into fine tuning their business strategies. And given the fact that the supply has just not been able to keep pace with the demand for data analysts in India, you should be able to make enough money to lead a fairly extravagant lifestyle by providing your services to a large corporation.

5. Digital Marketing

Digital marketing involves the marketing of various products or services using digital technologies on the internet and digital platforms. If it's something that you have done or at good at, you may be holding the key to a potential money-spinner here. While large companies already have dedicated teams to take care of their digital marketing needs or outsource it to external agencies, smaller companies and old school businesses most often don't enjoy the same luxury. By outsourcing their digital marketing requirements to you, they can save on costs and be assured of competing on an equal digital platform with their larger rivals, while you get to handpick your clients and make some serious money as a DM consultant.

6. Image Consultant

In today's competitive world projecting the right image is everything for professionals, celebrities and companies alike. Which is why they are ready to fork out big bucks to hire someone with a proven track record at image management. If you have already worked in the PR and/or celebrity management industry before, it shouldn't be difficult for you drop a few famous names and flaunt your knowledge of that industry to impress potential clients. The most in-demand image consultants are those with a proven success record and an updated, insider's knowledge of the latest news and trends in that particular domain.

7. Bookkeeping Services

The proliferation of online accounting applications such as QuickBooks and Xero, has now made it possible for bookkeeping professionals to work on an accounting file from anywhere, at any time. Meaning you enjoy the flexibility of working with clients virtually, minus the usual commuting hassles. It's a trend that is fast catching on in India with many companies seeking the services of virtual bookkeeping professionals to keep their accounts in order for a fixed fee. It's a great option for finance and accounting professionals feeling trapped in an office environment and longing to work on their own terms.