The 5 Best Online Business Ideas to Start in 2024

Introduction

I Made over $72,000 last month from running a few different online businesses, which I’ll share with you in this article. These are the best businesses. You can start this running year, especially if you want to make your first $100,000. With the help of AI and the internet, ordinary people are turning their lives around and making millions of dollars. Unfortunately, this golden opportunity will not be here forever. 

Those who take advantage of it will become a part of the 1% and live an incredible life, and those who miss this opportunity will likely be a part of the 99% who have to work a job and live paycheck to paycheck, and if that’s what you want, that’s cool. But if you feel like you’re genuinely meant for more in life and want to reach Financial Freedom, then this article is for you and will give you the exact blueprint. It would be best if you started your first successful business. 

Before we dive into the five businesses, I will rank each one from best to worst so that you can better understand which business type is best for you.

1- Content Creator

It is one of the simplest ways to make thousands of dollars a month; anyone can do it, and you can do it from the comfort of your home. A Content creator posts on social media and makes a living. I would be an example of a content creator similar to Mr. Beast, Graham Stefan. I make over $50,000 a month as a Content creator, and it does take time to get to that level, but it’s possible for anyone. 

To become a content creator, read the books Showing Your Work by Austin Cleone and Marketing by Seth Godin. Now, becoming a Content creator is simple. All you have to do is pick a niche. You’re interested in, for example, I love Finance, so I chose that. The next step would be creating short-form videos on TikTok, Instagram, and Pinterest. And I don’t recommend diving into long YouTube videos initially because it is challenging. 

But later on, once you have experience, you can start making Now if you need help with what content to create. I recommend looking at other content creators in your space and seeing what videos do well with them. Being a content creator is rewarding because you can make money by promoting different products and services to your audience. You can also get paid by sponsors, and YouTube pays you for proposing long videos. I want to rank this business from one to five, one being the greatest and five being the worst. 

Content creator comes first because it’s incredibly beginner-friendly. Anyone can do it, and you don’t need any money to start. The cool thing about being a Content creator is you get to share your passion with the world, and it’s gratifying and fun. And it is challenging to stay Anonymous as a Content creator. Sure. Many people don’t show their faces, but if you do, it gives you a considerable advantage. So, being a Content creator is one of the best businesses. You can start this running year.

2- Sell Digital Products on Amazon

The following business you can start is selling products on Amazon. I have not made money selling on Amazon, but I know many people make millions yearly. Now, if you’re a beginner, I don’t recommend you sell physical products on Amazon, but you can sell digital products, which is way simpler. And the best part is, you can start this today with little to no money. Now, let me explain how this works. So essentially, you’ll create a low-content book like a journal or notebook. Using Book Bolt software, you can upload that book to Amazon. 

It only takes a few minutes to create the book, and the website you use to upload your book to Amazon is called Amazon KDP. Let’s say a customer goes on Amazon and purchases your book. Or what happens is Amazon creates the book and ships it out directly to your customer. So Amazon takes care of everything. You need to design your book and wait for sales to come in. And the cool thing is you can sell as many books as you want. And, if you sell more books, you’ll make more money. 

And I want to rank this business from one to five. This business comes in fourth place. And here’s why selling books on Amazon is pretty simple. It’s incredibly competitive and complex for beginners to scale. You need the best product on Amazon to get sales because you’re competing with many other people. So, this is challenging for a lot of beginners to start. You should only begin if you already have experience selling products on Amazon. In the past, if not, you may want to consider starting another business. 

3- Branded Shopify and Dropshipping

The following businesses you can start are branded Shopify and Drop Shipping. I don’t drop ship at the moment, but I know it’s a great business, and people are making millions of dollars. For those who don’t know Shopify, Drop Shipping is when you create your custom website using the app Shopify, and then you can add your products to your store from a supplier, like Auto DS. And so, when a customer comes to your website and purchases the product, your wholesaler will ship out the product directly. 

You don’t have to hold any inventory. And you don’t have to worry about shipping out the product because the supplier takes care of that. So, your only job is promoting your product on social media to get sales. Now, I want to explain how you can do this successfully in the long term and build a long-term brand that can make you a consistent income. So, a lot of drop shippers, what they’ll do is sell different products every year. And I don’t recommend that. 

It would be best to focus on selling and scaling one excellent product; then, you could potentially sell the store in the long term. If you want to find a product that you genuinely like and believe can add value to the world, you can find many great products on Auto DS’s website if you need help. So once you have your product and store ready, the next step is to start marketing. The easiest way to get sales is to create viral content on social media. 

So, if you can create viral TikTok videos, Instagram, and Pinterest pins, you’ll be successful. And you want to pick a product that can make a viral video. For example, the facial razor on TikTok is doing exceptionally well, and they’re creating a bunch of cool viral videos. For marketing, you first post content on your social media, and then later on, once you have a ton of experience, you can start paying for ads. I want to rank this business on a skill scale from one to five; Drop Shipping comes in third place, and here’s why. 

Drop Shipping is an excellent business for beginners but has some cons. Starting this business with at least a few hundred dollars is tricky, so you must invest some money upfront. A lot of time with drop shipping, you’ll sell a trending product, and then after a few months, that product dies, and that could be a better business model. 

So the only time I recommend you drop ship is if you have a product in mind that you genuinely like and you believe this product can do well long term, then you should consider Drop Shipping. But you will sell many different products every year and make quick money. In that case, there are other businesses out there that you can start that are much better because you want to start a business that can do well long-term and make you a consistent income. 

4- Pinterest Affiliate Marketing

Now, let’s move on to the next business you can start: Pinterest affiliate marketing. I make over $15,000 a month from affiliate marketing, and is one of the best businesses. You can start as a beginner. For those who don’t know, affiliate marketing is when you promote a Brand’s products or services with a unique link you’re given, and if someone clicks on your link and signs up, you make a commission. 

If you want to start affiliate marketing, the first step is to pick a niche. You can do Finance, Fitness, home decor, lifestyle, and anything else. Once you find your Niche, the next step is to find affiliate links to promote. You can find many high-paying affiliate links from the website impact.com and clickbank.com. Once you have your affiliate links, the next step is to start promoting them on Pinterest. Now, you can upgrade your affiliate links on Pinterest in two ways. 

The first way is just by posting content, and the second is by running ads. But if you’re a beginner, you’re better off posting content. I’ve been using Pinterest for the past three years, and my account has over a hundred thousand followers. My strategy is to post anywhere from three to five pictures or videos daily, and you don’t have to show your face on Pinterest, which is nice. Here’s an example of an image.

I posted to my Pinterest account, where I promoted one of my affiliate links, so if someone clicks on my link and signs up, I make a commission. If you want to know how I can create images, it’s super simple. You can use the software Canva. I want to rank this business on a scale from one to five. I have to say that affiliate marketing comes first, along with being a Content creator. 

This is because affiliate marketing is effortless for a beginner to start, and you don’t need any money to start it. It’s also a scalable business that provides consistent long-term income. Another thing with affiliate marketing is you can show your face if you want to. Also, many content creators are affiliate marketers since they promote different affiliate links to their audience, so these businesses go hand in hand.

5- Buying Rental Properties

The following business you can start is buying rental properties. I own three townhomes that make me seven thousand seven hundred dollars a month. What happens is that tenants pay me rent, then I use that money to pay down any expenses, and then I profit the rest. Now, it isn’t easy to start this business. Suppose you have a little money saved up. And so, it is a business that could be better for beginners with cash, but it’s something you can think about in the future. 

However, if you want to start this and have little money, I will share a strategy you can still follow. With real estate, you get leverage, meaning you don’t have to use your money to buy a property. Let me explain. Let’s say you want to buy a $300,000 house, and then you go to the bank and ask them to loan you money. And so the bank might tell you, okay, all you have to pay is $15,000 for this house, and then we’re going to lend you the rest of the Required money, but basically, you’re going to be required to pay the bank back every month. 

And so, let’s say you must pay the bank $1400 monthly for your loan. But then, you can find a tenant to rent the home, and then they pay you two thousand dollars a month. Well then, there you go. You have a tenant to pay off your mortgage, and you can keep a bit of profit monthly. And the best part is the long term. Your property is expected to increase in value. For example, your $300,000 house could eventually be worth $400,000 in a few years, and then you can go back to the bank and ask them to pull cash for either place since the value has increased. 

It would be called a home equity line of credit or a cash-out refinance. But the point is, since you can pull money out of the house, you can use that money to buy more properties and repeat this process. And then, with time, you can have many properties that pay you every month. And that’s a pretty cool business. As I said before, I only recommend you start this business if you have $30,000 saved up. I want to rank this business on a scale from one to five. Buying rental properties comes in at fifth place. 

This is not to say that buying rental properties isn’t an excellent starting business because it is. However, it takes work for beginners to start. As I said before, you usually need a ton of money saved. If you want to do this successfully, start a different business that can make you a lot of money, like affiliate marketing or being a content creator. And then, in the future, you can use the money you’ve made from those businesses to invest in real estate. That’s what I do now. Those are the five best businesses you can start. Now, you need to figure out which business is best for you to start and then go all in.

A Final Thought on Online Business

The business has always been a very profitable source of income, and in today’s era, online business is the norm, and the traditional business that does not upgrade itself into an online business will compete with those businesses that have. Turning your business into an online business leaves them behind. You are taking your business online to stay a part of the market.

The article discussed five types of online businesses that will be very profitable in 2024. If you are thinking of doing online business, try to choose only one you are passionate about. There are many more online businesses, but I have selected businesses where you don’t have to invest in the initial stage and can start your online business without spending money.

There are many benefits you get in doing online business. As you don’t have to operate from a single location or market, you can start your online business anywhere. You also have the freedom to devote as much time as you want to your business. All your business will be on your laptop and your smartphone, which means from anywhere, whether you are at home, travelling, or attending an event outside your country. It doesn’t matter.

I hope you have learned something from my blog post and that it will help you start your online business. Please let us know your opinion in the comments section, and if you want to know about side hustles that you can do using your mobile, then read our post here.