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The 5 Best Online Businesses To Start for Aspiring Entrepreneurs

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Graphic designer sitting in front of laptop while working online

A successful online business means there’s more to life than working a 9-5 day for the company and retiring when you’re 65 to spend time on hobbies and travel. 

Nothing is better than waking up each day with the opportunity to do what you love. For me, it means helping aspiring entrepreneurs start their own online business.  

We focus on business models that offer location independence and unlimited income potential because these two characteristics provide the ideal lifestyle for anyone willing to work for it.

So, let’s cover our top 5 best online businesses for those interested in the laptop lifestyle without sacrificing a comfortable income.

What Are The Best Online Businesses To Start?

Start a Profitable Blog Business

Our #1 recommended business model for aspiring online business owners is to start a blog.

A blog is our top recommendation because it is a business you can build in the background of your life until it reaches the point where the income your blog produces justifies you leaving your current job.

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Once you’ve built up this recurring revenue stream, a blog allows you to build on top of your business with other online business models we cover throughout this article, such as starting a YouTube channel, podcast, and more!

Blogging is static and infinitely updatable – making it a robust business model. A blog consists of text on a page, so you can always edit, tweak, and expound upon your content to improve and reach a wider audience.

How Do Blogs Make Money

Blog businesses make money using several monetization techniques, with the most common sources of income being affiliate revenue, advertising revenue, and the sale of digital products.

Affiliate marketing income is earned when bloggers promote products or services and earn a commission for each sale made through their referral links.

Ad revenue is earned when blog partners with ad networks display targeted advertisements on their websites. Revenue is determined based on the number of clicks or impressions each advertisement receives through your site.

Additionally, many bloggers create and sell digital products such as e-books, online courses, or software, leveraging their expertise to provide valuable content and generate revenue.

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Other monetization avenues include sponsored posts, paid memberships, donations, and events or workshops.

As you can tell, there are endless ways to make money with a blog, and almost all offer a recurring income source. In other words, these income streams continue to pay you every month, and as you develop your business, the dollar amount will continue to grow over time.

Why Blogging Is Our #1 Recommended Business Model for Online Entrepreneurs

Blogging is our top recommendation for aspiring business owners because you build it at your own pace without revealing your identity up front. It also provides an evergreen source of income and is infinitely scalable.

Blogging requires only a laptop and an internet connection, so you can operate this business from anywhere in the world, set your own schedule, and live life on your own terms!

Start a YouTube Channel

Next on the list is to start a YouTube channel. Like blogging, a YouTube business requires little upfront investment, and you can start with just your phone, a laptop, and an internet connection.

From there, choose your niche and start recording content based on keyword research to determine what videos perform well in your space.

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YouTube is another business model that provides an evergreen source of income primarily from ad revenue and affiliate marketing, so the more videos you publish, the more money you can expect to make.

YouTube is great because it provides an opportunity to be discovered by such a large audience, and you’re bound to find like-minded people who resonate with your message and want to learn more about you.

Yes, it’s going to be a tough start on YouTube. You should commit to making 100 videos on your topic of choice. If you can do that, you will wake up the morning after publishing your 101st video with a viable business, earning real income and a high-value skill that will be in demand for years.

So if you have a lot to say and the willpower and determination to get your message out there, start recording videos today, and don’t worry about what everyone else thinks. The reality is no one will see your first few videos. But, by the time you make it to 200 and eventually 500 videos in your catalog, you’ll have an extremely profitable online business that runs on autopilot and pays you each and every day – whether you’re working or not.

I promise you’ll have no idea what you’re doing when you first start, but you’ll be an expert before you know it!

Start an E-commerce Business

Starting an Ecommerce business is another exciting and lucrative opportunity for aspiring entrepreneurs. After all, most of the world’s wealthiest people are retailers in some form or another (think Sam Walton of Walmart & Jeff Bezos of Amazon).

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With the continuous growth of online shopping and its convenience to consumers, venturing into the world of E-commerce opens up a world of possibilities.

The barriers to entry have been significantly lowered, allowing individuals to turn their passions or innovative ideas into thriving online stores with minimal upfront investment.

I’ve owned and operated three successful E-commerce brands that each grew into six-figure-per-year businesses, and I can tell you the margins are thin, but the opportunity to sell products online is massive.

Also, there are more ways to market and operate your lifestyle business than ever.

For instance, the rise of Facebook, Instagram, and now TikTok ads allows you to reach millions of people daily.

From an operations standpoint, you can pay freelancers to design a stunning website and sales page overnight, then hire a third-party logistics (3PL) company to hold and ship all your products as orders come in.

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So all you have to do to get started is find a useful product, create a great sales funnel, and pay advertisers to promote your product to your target audience.

Once you have one winning product, add more items to your catalog under your brand and utilize email marketing to upsell and promote more products entirely for free!

In any event, E-commerce becomes more accessible with experience, but a great starting point is to find a product that solves a problem. Offer the solution to people who need it, and the next thing you know, you will have a profitable business for many years.

Start a Podcast

Next, starting a podcast is another business model we recommend because it is an income source that continues to grow on itself.

Podcasters build an audience that gains momentum and grows, generating more revenue from advertisers paying to be featured in the episodes.

Again, the startup costs for this business are minimal. You’ll need a quality microphone and podcast-hosting software to edit and upload your episodes.

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From there, you’ll want to record great episodes about a topic you are interested in. Bringing guests on your show adds to the conversation and offers a different point of view will strengthen your product. 

Again, podcasting takes practice, but as you go along, you will continue to improve and improve your craft, which will help grow your audience and your business.

If you have an interest and opinions on a topic and feel comfortable articulating it to a like-minded audience, podcasting is probably for you!

Sell an Online Course

Finally, if you have an in-demand skill, there is a massive opportunity to package up your knowledge and sell it to people interested in acquiring your expertise.

There are course creators making millions of dollars per month selling courses online, but those making it big have invested a ton of time and money into creating and selling their products. 

First, you’ll need to grow your audience and ask them what they want to learn and, more importantly, what information they are willing to pay for.

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From there, you’ll create an outline of your course and revise it based on feedback. Finally, you’ll record the course and host it through a provider.

The more you grow your audience with free content and helpful resources, the better off you will be in the long run selling your course. So remember to always focus on the needs of your audience and overdeliver when it comes to value.

The rest will take care of itself! So if you have a high-value skill to share with the world, starting a lucrative online course could be right for you.

The Best Advice We Can Ever Give Related To Starting Online Businesses

The top advice we give to aspiring entrepreneurs is just to start.

It might seem like the most obvious part of starting any business, but it is often the hardest. Taking the first step and committing to a business that can change your life can be very intimidating.

We aren’t used to starting from nothing, and when you’re starting from zero, it can be easy to look around at other business owners and compare yourself to those people.

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But keep in mind the people that are now successful also started from nothing. They persevered and pushed through those hard times of feeling small and unimportant, but look at them now!

So take a few minutes to yourself right now and think about what it will be like to start a business.

It will be hard, lonely, test you every day, leave you feeling like no one cares about you, and much more.

But then think about how you will feel if you never take action and pursue your dream. I can promise you the consequences of never taking action and going for something you truly believe in far outweigh the hardships of being a business owner.

The best part? Starting your own business and taking control of your life is the ultimate dream, and those of you with this entrepreneurial fire and spirit like me, realize you won’t rest until you make it.

So again, our best advice is to start, and we wish you nothing but success!

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Michael founded Pursuit of Passive Income to help its readers achieve financial freedom and create a life they love. He is living proof that every failure is just one step closer to success, having started and shuttered many failed businesses. Michael now makes a full-time income from Pursuit of Passive Income and strives to help others create passive income streams. Read more about Michael’s Story Here!


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How to Capitalize On This Thriving Talent Pool to Drive Your Company’s Growth

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How to Capitalize On This Thriving Talent Pool to Drive Your Company's Growth

Opinions expressed by Entrepreneur contributors are their own.

As business operations shift, executives and entrepreneurs are increasingly turning to an on-demand workforce that is simultaneously empowered by technology and drawn to purpose-driven projects.

Consider Upwork, whose 2020 Future of Workforce Pulse Report revealed that nearly 80% of hiring managers engaging freelancers feel confident about doing so. These hires provide coveted expertise — on a project-to-project basis — that entrepreneurs need to scale their operations without incurring long-term overhead costs.

This new market paradigm also promotes dynamism, with 79% of businesses agreeing that freelance talent enables greater innovativeness. Perhaps most telling, 84% of hiring managers utilizing it feel more assured about adapting to future disruption, compared to just 69% of those relying solely on full-time staff.

By capitalizing on freelance marketplaces, entrepreneurs can amplify employer branding, augment capabilities and future-proof organizations, even amid turbulence. As nearly 60% of hiring managers plan to increase engagement with freelancers over the next two years, the time is now for executives to realize their inherent potential.

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Related: Navigating the Great Reshuffle: Why Your Employer Brand is Key in Recruiting Talent

The job market continues to shift

After a season of massive hiring, we’re back to seeing layoffs and downsizing. Companies are feeling the bloat—from unused office spaces with rising rent to oversized employee structures — and are shifting focus to hiring only the most essential positions. This leaves a critical talent gap needed for complex projects and specialized tasks. Highly skilled and specialized independents can fill this void.

A few key benefits to engaging them:

Access to niche experts: Platforms like Toptal and Guru provide access to elite professionals from leading Fortune 500 companies and innovative startups. Whether the need is for a machine learning specialist, growth strategist or financial modeler, entrepreneurs can now curate on-demand teams that boast specialized skillsets, enabling them to focus investment on projects with the highest strategic value.

Enhanced agility: Leading corporations increasingly “rent” skills by tapping freelance experts for initiatives involving new technologies or while entering unfamiliar markets. With niche contributors available to plug knowledge gaps, owners can explore ideas that once seemed unrealistic due to internal constraints—unlocking inventiveness and first-mover advantage.

• Stronger employment brand: Blending full-time employees with project-based freelancers signals a commitment to modernization and work-life balance. Offering both engaging work and flexibility will help draw exceptional candidates and help you compete with corporate giants for top-tier talent.

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Related: Can Retirees Thrive in the Gig Economy? Navigating a Changed Workforce

Tips for capitalizing on gig talent

Having explored the forces reshaping work, executives may wonder how to effectively leverage freelance platforms. After all, how can you know you’re getting your money’s worth if a hire isn’t physically present full-time?

• Define projects clearly: Contract hires thrive when expectations and deadlines are established upfront. So, clearly, detail needs around deliverables, success metrics, required skills and projected time investments. Staying ahead when it comes to communication and expectations will help avoid headaches, including delays.

• Build loyalty with talent: The best independent professionals have options regarding the projects they accept. Study their profiles to discern passions and incentives. Offer interesting work, flexibility and strong communication to motivate interest and improve results.

• Manage collaboration: Provide steady context, feedback and guidance at each project stage, but also foster autonomy, even while directing efforts toward strategic goals. A dynamic balance of these qualities drives optimal outcomes.

• Continue expanding your talent pool: Add proven freelancers to an internal database for repeat engagements, and notify talent about new initiatives for which their expertise would provide an edge. Uncovering additional ways, freelancers can enhance the business deepens the relationship.

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Related: Fill Your Talent Gap by Sourcing Candidates From the Veteran Community

Top platforms for connecting with talent

Now comes the hard part: finding contractors who bring fractional expertise sets. There are a growing number of platforms, of course, but I’ve found that the following stand out as leaders:

Fiverr: Ideal for execs seeking design, digital marketing, writing, video and admin support. Known for affordability and ease of posting jobs. It taps a global talent pool, too.

Upwork: A flexible platform that spans more than 150 skills. Used by everyone from small businesses to global enterprises. Strong at IT, development, design, finance and consulting.

Toptal: Focuses exclusively on the top 3% of talent. Best for expert software developers, designers, project managers and finance experts. All contributors are extensively vetted.

Contra: A growing independent platform that vets and connects both job candidates and hiring companies. Best of all, it doesn’t take a commission from projects.

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Related: 3 Strategies to Optimize Your Hiring Process and Find the Best Employees

The numbers speak for themselves: businesses engaging freelance professionals report greater confidence and competitiveness, as well as the ability to withstand turbulence, yet legacy beliefs can still cause hesitancy among those keen to hire. Supported by such specialized collaborators, companies can explore new horizons unencumbered by a one-time narrow view of staffing models.

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Trump Media stock plummets again

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Trump Media stock plummets again

Trump Media & Technology Group Corp (TMGT) shares plummeted after the entity filed to the U.S. Securities and Exchange Commission (SEC) to issue 21 million shares.

The parent company of social media platform Truth Social has approached the SEC with a Files S-1 Resale Registration Statement.

Trump shares nosedive after announcement

The shares in the company ended the day on the stock market a further 18% down on initial trading. The SEC filing states:

We are registering the resale by the Selling Securityholders named in this prospectus, or their permitted transferees, an aggregate of 146,108,680 shares of Common Stock, consisting of:

  • 1,133,484 Placement Shares;
  • Up to 14,316,050 Founder and Anchor Investors Shares;
  • 744,020 Conversion Shares;
  • 965,125 DWAC Compensation Shares;
  • 690,000 TMTG Compensation Shares;
  • 6,250,000 Alternative Financing Shares;
  • 7,116,251 Private Warrant Shares;
  • 143,750 Representative Shares; and
  • 114,750,000 President Trump Shares.

This takes the overall fall down to nearly 60% of the launch price for the former President’s company stock. We reported earlier this month that the initial stock had fallen 20% in the first week of trading on the stock exchange.

Digital World Acquisition Corp merged with Trump Media in late February to a large fanfare. The highest mark for the much-talked-about stock came in at $66.22, so the dip to $26.61 is a catastrophic fall ahead of a potential further share issue.

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The $52.77 plummet will be a costly one for the company, but as we reported last week, executives are still taking home sizeable compensation in this turbulent opening.

Leading figures at TMGT have been given promissory notes to the tune of $6.25 million.

This is broken down into $1.15 million for Chief Executive Officer Devin Nunes, $4.9 million for Chief Financial Officer Phillip Juhan, and $200,000 for Chief Operating Officer Andrew Northwall.

It will be an interesting read ahead to see if the SEC agrees on the share issue and one that will certainly impact the future of TMGT.

Image: Ideogram.

The post Trump Media stock plummets again appeared first on Due.

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Save an Extra 20% on the Ultimate Microsoft Bundle Featuring Windows 11 Pro, Office, and More

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Save an Extra 20% on the Ultimate Microsoft Bundle Featuring Windows 11 Pro, Office, and More

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Microsoft’s creations have impacted more than 1 billion users worldwide, helping successful innovators across industries. You can currently pick up a comprehensive collection of popular products that are primed to boost your productivity for a surprisingly low price.

For a limited time, purchase the Ultimate 2019 Microsoft Bundle, complete with Office, Project, Visio and Windows 11 Pro, at only $79.99 (reg. $927) by using coupon code ENJOY20. Pick up this full package for only a fraction of the standard cost through April 16 at 11:59 p.m. Pacific.

Offering an AI assistant, touchscreen options and personalized settings, Microsoft Windows 11 Pro packs new potential into your operating system. Enjoy higher speeds and greater security with an OS that delivers access to DirectX 12 Ultimate and Microsoft Teams.

Meanwhile, get right to work with Microsoft Office Professional Plus 2019, equipped with these programs:

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  • Access for keeping track of databases.
  • Excel for diving into data.
  • OneNote for enhanced note-taking.
  • Outlook for maximized email management.
  • PowerPoint for visual presentations.
  • Publisher for graphic design needs.
  • Word for creating text documents.

Microsoft Project provides everything you need for a large professional undertaking, with tools featuring budget management, schedule development, task assignments and workload analysis. Gain a greater feel on what’s working well and what’s not by examining automated progress reports. Plus, it’s prepared to sync with Microsoft Office.

Last but not least, Vizio is excellent for creating visual diagrams, floor plans, flow charts and more. Access 250,000 shapes and an array of templates that can be easily customized with data from compatible programs such as Microsoft Excel.

This bundle carries a store rating of 4.5 out of five based on verified buyer reviews, featuring March 2024 feedback that reads, “The installation was easy and it worked right away as expected. I will get another one in the future.”

Improve your production capabilities while accomplishing more professionally and personally by purchasing the Ultimate 2019 Microsoft Bundle, loaded with Office, Project, Visio and Windows 11 Pro, for only $79.99 (reg. $927) by using coupon code ENJOY20 through April 16 at 11:59 p.m. Pacific.

StackSocial prices subject to change.

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