How to Find an Online Business Idea

Saturday, March 10, 2018 , , 0 comments

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If you’ve always wanted to be your own boss, there’s no time like the present. Technology has made it possible for just about anyone to start an online business.

Just think about the advantages – no need to have a physical location and all the expenses that go with having a brick and mortar place of business. You don’t even have to invest in a large amount of stock since you can drop ship products as needed or become an affiliate.

Even though online commerce is still a small portion of overall retail sales, the National Retail Federation predicts that online sales will grow at a much faster rate than sales from physical stores. So, this is the perfect time to set up your own online business.

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What you need to determine, however, is how you can take advantage of the online sales trend. What kind of online business can you set up? Let’s look at your best alternative.

Turn Your Hobby into an Online Business

When you’re involved with your hobby, does the time fly by? Do you wish your hobby could be your career?

Maybe it could be – not right away, of course. But with some effort on your part, you could eventually give up the job you don’t like for the hobby that you love. Yes, you could make a full-time living from your hobby.

Before you jump in, take some time to consider whether you’d actually love your hobby just as much if you were involved with it as a business – scheduling your time, setting and meeting financial goals, dealing with customer service, and all the drudgeries that go with having a business.

Your first reaction might be to say that’s crazy, but those activities can take away the joy and personal satisfaction that you love about your hobby.

So, be honest with yourself. Then, if you still like the idea of making a career out of your hobby, let’s look at how to proceed.

Online Store

Sell Accessories that Others in Your Hobby Need

Most hobbies involve all kinds of accessories. Some are essential in order for people to perform the hobby at even the very basic level. Let’s take the example of oil painting. Painting enthusiasts need all kinds of accessories – brushes, tubes of paint, media for mixing paint, canvases to paint on, and on and on.

Don’t worry. You don’t have to stock all those products yourself. Instead, set yourself up as an affiliate for the big stores that sell painting supplies. Once you’re an affiliate, you promote the products on your website with articles and banner ads.

In addition to the basic products needed for the hobby, you can set up a page on your website to sell premium products. In the case of oil painting, for example, you could become an affiliate for high-priced products that are available through specialty shops.

In addition to promoting products as an affiliate, you should write blog posts about you and your hobby
  • how you got started
  • the difficulties you encountered and how you overcame them
  • lessons you’ve learned from other hobbyists
  • tutorials about specific techniques
  • the history of the hobby
You might even find that you eventually hire an expert in the niche and hold a seminar for people engaged in the hobby.

Turning your hobby into an online business isn’t likely to be an overnight success. You need to start out with long-term goals. The two magic words are –

If you have what it takes to be consistent and persistent, then go for it.

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Author: Kate Benzin

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