3 Powerful and Profitable Business Ideas to Consider Starting

Are you looking for profitable business ideas to start making money online? Well in this article I will give you tips to determine if a business idea is a profitable one and I will give you the best way to start a profitable business online today.

Most people want to make the money but don’t want to put in the effort. Your earning potential is based off the effort you put in your business. Are sports athlete’s instant successes at their crafts? Can you become a doctor without years of schooling? Everything takes effort but most us including myself in the past put effort into things that didn’t make me money.

The first step in discovering if an idea really is a profitable home business idea is by looking at demand first. Without demand a product, an idea or anything else is not going to be profitable.

This “demand” research can take time but will pay off either by showing you what you need to target or by saving you months of work in a niche that you can’t win over.

4 Steps to Building a Profitable Offline and Online Business

1. The first step requires finding information about the industry, then looking at peoples needs. What are people having a problem with? And can your idea fulfill that need with a solution?

For online businesses, information that helps someone who is searching for answers is your product, so by doing keyword research for demand is how you determine how good an industry is to get into.

2. The second step is looking at the supply factor. Is the technology there? Though the supply issue is not as dramatic as this, it is important to consider. Not being able to source products which you will inevitably need in making your business idea profitable is not the best way to go.

For online businesses, information is often the main product so you must go to Google and see how many pages are offering the answer to your question and that will tell you the supply factor for your business idea.

3. The third step is the consideration of cost. I have a friend who is a wood machinist, and creates some great wood work – tables, etc. However, because of his lack of sources at sourcing the wood, he is unable to make it a profitable venture.

Normally, to start an online business, it does not cost much to get started. You can get started for as little as $10 a month for hosting a website. This is stupid cheap as compared to the tens of thousands it usually cost to start an offline business. That’s why you see so many people having to borrow a $100,000 from the Small Business Administration to get started.

This is why so many people are turning to building small businesses online because the startup is affordable for the poorest of people. However, without money, you will have to invest time into learning what to do and how best to do it.

4. The last step is the marketing. All too often a business fails because it forgets about the marketing aspect. (Online businesses are no different!)

Your ability to turn a profitable home business idea from dream into a real business is having a way to tap into the demand of the market you are pursuing.

3 Online Profitable Business Ideas to Consider

1. eBay – This is usually the first mini step for people to start getting their feet wet with online business. It is so easy to get started and you really don’t have to buy any products, just use the junk sitting in your house.

2. Affiliate Income – This is another low cost online home based business. There is some start up costs but you don’t have to have any products to sell because you will be promoting other people’s products. Usually this involves building a site, writing content around the niche industry your idea is about and preselling your visitors on buying other people products. You get a commission for every sale you refer.

This is by far, the most popular on the internet today. To build a site, you should purchase hosting from a web hosting company and build a WordPress blog because you can do far more with it than trying to build an html website on your own.

3. Network Marketing / MLM – This business opportunity has a lot of pluses if you pick the right company.

From my own experiences, you need a product that is dirt cheap ($25 or less) and a product that is a necessity to your customers (down line). This combination almost guarantees success because the product for every one of your sign ups is too cheap to stop buying and is too necessary for them to stop buying. Otherwise, your Network Marketing business is doomed to fail.

The funny thing about network marketing is this…

For online network marketing businesses, building a MLM business is the same as building an Internet Marketing Company. The difference is that the way you monetize is so much more lucrative with the MLM compensation structure.

With affiliate income as I stated above, the products you refer tend to only pay you once whereas with MLM you get paid monthly from the same customer. Basically, if you attach a MLM compensation structure to an affiliate income or affiliate marketing business, you get the best of both worlds.

So my advice….

No matter which online business platform you choose, there is one common denominator that you will face with building an online business. That denominator is that you will have to learn internet marketing to succeed. No business offline or online can survive without traffic which becomes your leads and prospects to buy your product/services or affiliate products/services.

If you have to learn Internet Marketing to succeed, then simply create a website and/or blog about what you learn in internet marketing as you go. Then choose what business platform you want to take but I suspect everyone generally ends up choosing Affiliate Income. I recommend finding a MLM compensation structure related to your business idea and get the best of both worlds.

If you’re wondering how you can help your down line when they ask for help building their business. Refer them to your blog/website that you are writing for yourself. It will be a resource for them to find the answers they need to be successful. You don’t have to hold their hand or make yourself accessible 24 hours a day. They grow and learn as you grow and learn internet marketing.

If they ask a question you don’t know the answer to. Go research it because you need to know the answer for yourself! Then simply make a post about your findings!