What are Online Business Ideas?
Online business ideas are being highly sought after in today’s internet age. They refer to start up business opportunities that utilise internet technology to make a profit. Online businesses may use the internet in a variety of ways, such as marketing to customers, customer service, processing payments and orders, as well as connecting with customers via social networks.
Popular Internet Business Ideas
Since internet technology is rapidly developing, both in the hardware and software that make up the internet, online business ideas are also constantly advancing. As such, the internet has brought up many innovative new internet businesses that were once not possible with traditional, brick and mortar businesses.
Therefore, the following set of online business categories and examples is not exhaustive. Many more web business models are available and being developed today.
1. Product-Based Business Ideas Online
These online businesses focus on the sale of products, using the internet as a way to reach customers as well as take orders and process payments. Typically, the products are physicaly products, and will be shipped to the customer’s address. Nonetheless, there are also product-based web businesses that focus on selling digital products such as electronic books, software and music.
Examples of Internet Biz Opportunities Focused on Products
- Online store selling recycled books online
- Online auction site that sells fair trade, artisan and animal friendly products online
- Ecommerce store selling shoes and eyewear on the internet
2. Service-Based Business Ideas Online
There are also a range of online companies that provide services that are facilitated via the internet. These businesses may receive orders for their services online, and process the payments online too. The service may be conducted remotely on the internet, or the service may be done elsewhere but it was organized online.
Examples of Internet Biz Opportunities Focused on Services
- Website providing consulting services to start up businesses
- Website that allows users to have food delivered to their home
3. Information-Based Business Ideas Online
The internet has been dubbed as the “information super highway”. Certainly, many people who use the internet are searching for specific kinds of information. Thus, many online businesses have sprung up which focus on the provision of content for a profit.
Examples of Web Biz Opportunities Focused on Information
- Informational website that makes a profit from advertising
- Membership content sites that make money from online subscriptions
Innovative Internet Business Models
It must be restated that the business opportunities above are only a few of all the potential opps out there. The internet has been accomodating for more innovative internet entrepreneurs to emerge and become successful.
In recent years, Web 2.0 has become increaingly popular. Web 2.0 refers to the current stage of the internet in which websites are becoming more interactive, collaborative and social. Thus, many of the latest online business ideas have been incorporating facets of Web 2.0. Some of the most prominent Web 2.0 biz examples include:
- Social networking websites, which make their money from advertising to networks of people who use the service to get connected and build relationships with family, friends, colleagues or new people
- Crowdfunding platforms, which make a profit from taking a fee from the facilitation of online funding from various online peers for various projects (including start up business projects and creative projects)