Top 7 Online Business Ideas
YOU CAN START IN 2020 To
Make 6 figurers online

Presented By Evermentor

Are you looking for your next side hustle or online business idea for extra income in 2020? Have no fear… We gathered a comprehensive list of the 7 best online businesses anyone can start from home with just a laptop and an internet connection.

If you are looking for your next big business venture, or just to make a little extra money on the side, this is the place to start…

1) Dropservicing / Freelancing

Did you know that 35% of Americans freelanced in 2019?

The workplace is changing. With the digital service economy making up almost 7% of the US GDP the opportunity for anyone to make a real income online is at an all time high.

Freelancing is where one person works for themselves and takes on contract work selling services online. Popular freelance websites such as Fiverr and Upwork are great sites to launch your freelance career.

Dropservicing is similar to freelancing, but is preferred by many people as it is a more scalable business model. Dropservicing is where you sell digital services online and then outsource the fulfillment of those services instead of doing the work yourself.

It is a more passive and scalable business model compared to freelancing.

Why we recommend dropservicing:

  • Only a laptop and internet connection required to get started
  • Very little upfront investment cost to start the business
  • Scalable, profitable, and aligned with industry growth
  • Turn a profit as quickly as 30 days or less

Many industry experts consider dropservicing the best and most profitable online business you can start moving into 2020 and beyond.

We put together a step by step workshop that covers how to start a 6 figure dropservice business from the ground up (Featuring Kevin O’Leary from Shark Tank):

AUTOMATE and SCALE

A step by step workshop on how to leverage the power of automation and outsourcing to scale a ‘dropservice’ business to $100K/year and beyond.

 

Learn step by step how to build a six figure dropservice business by using automation.

1. Strategy: Learn about the Dropservice model
2. Automation: Disconnect time from money
3. Opportunity: Capitalize on the golden era
4. Leverage: Outsource fufillment to scale fast

2. Start a Shopify Store

Shopify is a powerful software platform that allows anyone to start their own e-commerce store selling physical products online. This has proven to be a successful business model

Here is how it works:

1. Build your website and online storefront using Shopify
2. Source products to list on your store using Alibaba or Aliexpress
3. Market your products to find paying customers using Facebook & Google Ads.

In fact, by leveraging the strategy of dropshipping you can avoid holding any inventory and ship directly to the customers from the manufacturers of the products.

Advantages:

  • Proven and long-term viable business model
  • Not much upfront capital required to get started
  • Very scalable, ability to sell products globally

Disadvantages:

  • Steep learning curve for beginners
  • Difficult to find in demand, non-saturated, scalable products to sell
  • Many business functions to manage such as marketing, customer services, product development and fulfillment

Here is a step by step Shopify tutorial for beginners:

3. Amazon FBA Private Label

Instead of spending all your money on Amazon, why not make money selling products on it?

 It’s not secret that Amazon is the king of e-commerce. In 2019, Amazon’s share of the US e-commerce market hit 49%. People are buying – which means the opportunity to sell is there.

 In fact, Amazon reported over 1 million new sellers on their platform just this year. Over 140,000 third party sellers surpassed $100,000 in annual sales.

 How to sell on Amazon:

  1. Source a product from Alibaba and purchase in bulk
  2. List your product on Amazon.com and ship your product to Amazon warehouses
  3.  Advertise to increase your rank and start receiving organic sales

 Advantages:

  • Leverage the largest e-commerce platform in the world
  • Marketing and customer acquisition aren’t a big concern
  • Thousands of different products you can sell

 Disadvantages:

  • High levels of competition from big brands and third party sellers
  • Steep learning curve to learn how to rank high for organic sales
  • Upfront investment required to purchase inventory and gain traction

Here is a step by step guide to sell on Amazon for beginners:

4. Become a High-Ticket Closer

If you have solid sales skills or an outgoing personality becoming a high-ticket closer could be a great way for you to make extra money online in 2020 and beyond.

High Ticket Closing is a professional skill that helps companies and influencers to close their premium products and services (more than $3,000) over the phone. A High Ticket Closer is a trained professional who can work with these companies and influencers to double or even triple their sales.

Basically, you get hired by a company or influencer to close warm-leads over the phone and earn a percentage of the sale as commission.

How to become a high-ticket closer:

  1. Learn how to close sales for high-ticket products over the phone
  2. Create a personal brand and market yourself as a high ticket closer on social media, Fiverr and UpWork
  3. Close sales for your clients over the phone and earn a percentage of the revenue as comission

Advantages:

  • Low cost to get started
  • Can start earning real income right away
  • Don’t have to worry about building a product or business

Disadvantages:

  • Sales skills and extroverted personality required
  • Difficult to find clients and must market yourself
  • Not very scalable as you need to invest your own time for each sale

Here is a video that explains high ticket closing:

5. Sell a Digital Product or Online Course

The worldwide e-learning market is projected to be worth $325 Billion in 2025. You can carve out a slice of that pie by making your own digital product or online course.

At Evermentor, we are experts at e-learning. That is what we do. We sell online training programs paired with personal mentorship to help people across the world start new businesses, side hustles, or advance their careers.

49% of students have participated in an online course in the last 12 months.

You can create an online course from the knowledge you have and list it on platforms such as Udemy, Skillshare, Coursera, or even Evermentor. 

How to create an online course to sell online:

  1. Choose a topic you are already knowledgeable in
  2. Create the course content using videos, powerpoints, text lessons and quizzes
  3. Sell the course online using established platforms or create your own sales funnel

Advantages:

  • Build a passive income stream that makes money while you sleep
  • Leverage knowledge that you already have 
  • Help people around the world to change their lives for the better

Disadvantages:

  • Takes a lot of time to build your first course and market it
  • Need to be an expert on the topic you are teaching
  • Difficult to keep learners engaged and satisfied with your program

6. Affilliate Marketing

Affiliate marketing is a way for you (the affiliate) to earn a commission for recommending products or services to your friends or readers.

To simplify it, here’s the 5 step process for how to start affiliate marketing:

  1. You find a product you want to promote
  2. Do a search for “product name” affiliate program. If it’s on Amazon, you can also promote it
  3. Sign up for their affiliate program
  4. You get a special link that allows the merchant to track the people who clicked your link
  5. If they buy the product, you get a commission.

Advantages:

  • Minimal upfront investment to get started
  • Don’t have to create your own product to sell
  • High earning potential

Disadvantages:

  • Requires a lot of time investment up front
  • Income uncertainty
  • Increasing competition and building an audience is required

Here is a video that explains affiliate marketing for beginners:

7. Start a Consulting Business

Affiliate marketing is a way for you (the affiliate) to earn a commission for recommending products or services to your friends or readers.

To simplify it, here’s the 5 step process for how to start affiliate marketing:

  1. You find a product you want to promote
  2. Do a search for “product name” affiliate program. If it’s on Amazon, you can also promote it
  3. Sign up for their affiliate program
  4. You get a special link that allows the merchant to track the people who clicked your link
  5. If they buy the product, you get a commission.

Advantages:

  • Minimal upfront investment to get started
  • Don’t have to create your own product to sell
  • High earning potential

Disadvantages:

  • Requires a lot of time investment up front
  • Income uncertainty 
  • Increasing competition and building an audience is required

Ready To Get Started?

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