Types of Online Businesses for
If you are considering starting an online business, you probably like to wear sweatpants and make money while you sleep. Okay, that’s not all online business is about (although you can do it in sweatpants). Starting an online business generally takes a lot of work upfront and ongoing maintenance (it is a business after all), but that’s okay because you’re not afraid of hard work. So, if you are willing to put on your big girl sweatpants, work hard and dream big, keep reading.
Can we just agree that we live in the greatest time in history? We get to choose whether or not we stay home with our kids or if we have a career. Not only that, we live in a time where we can do both if we choose. The internet allows us to connect with people all over the world and we can use it to build a profitable business from the comfort of our own home (which is great for those of us as stay-at-home moms).
What kind of online businesses exist for stay-at-home moms?
To be honest, they aren’t really different for stay-at-home moms than they are for other people, but us SAHMs are living a circus that is a constant juggle. We don’t have 8 consecutive hours a day to commit to building a business. We have 15 minutes here and an hour there and we have to make the most of our time. I’m going to focus on businesses that can be built in the minutes and hours that you have sprinkled throughout your life as a mom.
Here are some types of online businesses you could consider:
Starting a blog is a great way to break into online business. It is a home base for other revenue generating ideas I’ll mention on this list. As a blogger, you can establish yourself as an expert in something: fashion, technology, marketing, Instant Potting (that’s a thing, right?), or whatever you want. Having a blog will help you build an audience that knows, likes and trusts you. An audience that will support you as your business grows and you have more to offer them.
You can create courses on anything. Teach what you know? What do you know how to do? Can you take pictures, then teach other people to take pictures. Can you set up a facebook ad campaign? Then make a course on that. Can you knit? Then teach a course on “How to Knit.” I’ve personally purchased courses on how to tell a good brand story, how to have a productive morning, how to use affiliate marketing, and others. I will keep buying courses because I have gained so much value from these courses. I’ve paid anywhere from $17-$3,000 for any given course. The great thing about creating an online course is that you can make it once, but there is no limit to the number of people who can buy it. As long as the content is relevant, you can continue to market and sell that course for years to come. If you love passive income, this might be a good route for you.
Not sure you want to commit to an entire course or you wonder if someone will pay $99 for your knowledge (spoiler, they will)? Then you could consider writing and selling an eBook. You can write and self-publish an eBook easily on Amazon and reach an entirely new audience who is searching for whatever it is you are already writing about. An EBook is a good addition to your blog to add more value to your audience as well as give you more credibility as an expert in your field. You could even be a serial eBook author as your fulltime job. Some people write a book a month and market and sell it on Amazon as their full-time business. If this peaks your interest, I recommend listening to this podcast by James Altucher where he interviews Steven Scott about how he’s making $40,000 a month selling his own eBooks on Amazon. It blew my mind!
Did you know you could get paid recommending products you already use and love? It helps to have an already existing blog to do this, but a lot of people build an influence on platforms like Instagram and use affiliate marketing there. Companies like Amazon (and many many others) will pay you a percentage or fee for referring customers to them. The best way to be successful at this is to only recommend products you truly believe in because you need an audience who trusts you if you want them to buy from you, so do not ever betray their trust.
What is “drop shipping?” Great question, my friend. Drop shipping where you have an online store, but someone else does the logistics for you. You don’t hold or invest in any inventory (so this is low risk), but you build the website and market the inventory and whenever a sale is made, the other company ships it out for you. Your profit margins are smaller than they would be if you handled all the shipping and logistics yourself, but you have a very low investment and risk (plus you don’t have to spend hours packing, addressing, shipping, ordering, etc) so it’s definitely worth taking a smaller payout per product. I’ve done drop shipping before, so keep your eye’s out for a detailed how-to on that in the future. I’ll definitely do it again, when I have the capacity to set it up the way I want it.
You can create things that are sold exclusively as digital files. Some ideas are things like printables (pictures, recipes, decor), fonts, filters for programs like Lightroom and Photoshop, digital planners, design templates, eBooks (see above), sewing patterns and more. You can design (or pay someone to design) pretty much anything and sell them online as a digital download. These are things you create once and will continue to sell for years to come. It seems like a lot of work at the beginning, but as you design more products your potential for financial growth increases and this is where you start to earn money while you sleep (literally, you will wake up to find you’ve made sales overnight).
I’d love to hear from you.
Does the idea of starting an online business intrigue you? Share in the comments which of these businesses excites you the most?