New business ideas are always welcome and encouraged because it requires both guts and inspiration to launch a new business plan.
At the same time, successful business ideas are stacked with potential rewards that tend to be a lot higher than working for someone else.
The right business idea gives you the opportunity to work on the terms that you set.
It also lets you give other people jobs and enrich other people’s lives. The step to get to this has become significantly easier as barriers to opening new business have become lower thanks to the introduction of e-businesses.
Launching an own company doesn’t mean you need an office or contract employees.
Companies of all sizes can be run right out of your home with some of them only requiring a computer and an internet connection.
Still not sure where to start? In this guide we’ll go through the top 10 innovative business ideas to watch in 2023.
10. Write An eBook
You’ll need to be a strong writer and have something to tell, but eBooks have become very widely sought after in recent years, with many underestimating how lucrative an Ebook can be.
Let’s not forget here that eBooks have the advantage of scalability which means there is never stock needed and that everyone from virtually anywhere in the world can buy your book as long as they speak the language the book is written in.
In order to sell your work you can either turn to well visited e-commerce sites or use an own site or blog.
All you need in both cases has a lot of visitors with the best thing being that there aren’t a lot of costs involved unless you contract someone else to tell your story.
If you’re the one responsible for the content you will have fairly low minimum efforts to launch a global product.
9. Online Casino Affiliate
Now, in a perfect world the best idea would be to actually own the casino, but a perfect middleway is to become a casino affiliate.
Casino affiliates work on online gambling oriented platforms that review casinos and share other content about iGaming with external clicks leading to revenue for the source.
This can be gambling enthusiasts signing up to a new casino and making real money bets or other visitors going to external websites from the source site for whatever reason.
This page exemplifies the concept well with their own platform and their partner casinos being focused on the New Zealand iGaming market, but with content that serves players from other countries as well.
8. Produce A Podcast
Podcasts are the perfect way to sit back and fully absorb audio content which has turned out to be something we need nowadays as it gives people a chance to look away from their screen.
If you’ve got a story to tell you can share this through different channels with one of them being a podcast show.
Now, it definitely helps if you’ve got either a strong or pleasant voice as known to create audio content.
In case you’re only familiar with the latter you can let someone do the speaking for you, although there are podcasts of all kinds, not always requiring the producer to say a lot of words.
Once your podcasts have gotten to a substantial number of listeners you can sell ads time to other companies, preferably relevant for your target audience.
Be aware that getting to this point is not easy, but if you’re already well known with or across other media, podcasts are the next step to make.
7. Dive Into Online Bookkeeping
In a slightly different category, online bookkeeping is another online business idea that has gained traction.
This is thanks to traditional bookkeeping shifting towards online administration rather than putting paper records aside.
Technology has given financial professionals the chance to offer their services on the internet whilst companies are glad that the bookkeeping services can be performed on the internet as well.
With services moved to the internet for both sides it becomes easier for bookkeepers to launch their businesses although it’ll require some time to gain the trust of clients and other stakeholders.
Ideally, you’re already working in the field and can easily move to the internet. As soon as you have a few clients it becomes easier to scale up the services on offer.
6. Turn To Online Tutoring
The same pretty much applies to online tutoring with no specific topic in mind. This can concern teaching languages, how to become a successful entrepreneur or whatever subject you think can attract students from all around the world.
It obviously helps if the language of instruction is widely spoken like English, Spanish, or French, with a preference for languages that are spoken by people from economically strong countries.
If you’re already a tutor in a specific field you can move the teaching to the internet, even outside of your regular working field.
With online clouding services and online telecommunications applications you should be able to launch your business without too outrageous investments.
Something to take into account are time zones if you tend to offer your services to an international target group.
5. Dedicate Yourself To Nutrition Coaching
Personal health is a hot topic in 2023 and it will continue to be so for a very long time.
After decades of being used to mass production, newer generations have a strong preference for biological products which need also help local producers, but also help consumers to find a well balanced diet.
Knowing what’s healthy and what is not can be recognized by most people to some extent, but it’s the small details that make a difference to one’s personal preferences, body structure, and lifestyle.
Being a nutritionist can not only help people to enhance their lives in face to face settings, but advice can also be delivered online.
Other than knowledge and experience, launching a nutrition coaching program does not require a lot of investment.
3. Become A Virtual Assistant
A lot of people have worked in customer service at some point of their lives which gives them a fairly good understanding of what the requirements are in the field of problem solving.
The same work can be done today at the comfort of your couch if you want to work at home as a virtual assistant.
This isn’t only limited to offering customer solutions via a live chat box, telephone, or email, but you can also be someone’s personal assistant.
All that is needed is a good computer, a headset, adequate internet, and a positive attitude. And let’s not forget about a silent environment.
If you feel that customer acquisition is too difficult for this niche you can always apply for a job as a remote customer service assistant first and hope that you’ll gain the skills, contacts, and experience to do it yourself.
2. Launch An App Developing Business
There are few people that can live with a cell phone app which is why mobile applications are in a high demand, clearly giving internet entrepreneurs the chance to launch their own service.
Not easy, but very lucrative, launching an app developing business can pave the way to long term success as apps can become extremely popular or give you the chance to offer other apps with either a slightly different or completely different approach.
The trick with app development is to come up with an idea that is different from or cheaper than others. We’ve all had our moments of wondering why we didn’t come up with that innovative app.
1. Consider Dropshipping
Dropshipping has a negative sound to it, but if it’s performed with the right partners and the right delivery times, it can turn out to be a highly lucrative business.
Social media such as Facebook and Instagram have shown to be extremely effective channels when it comes to ads and if you manage to keep the delivery times as low as possible while maximizing the quality of the products, you might just see your business skyrocketing within a very short period of time.
The good thing about dropshipping is that a part of the process can be outsourced, meaning that you won’t have to own the actual stock to make sales.
The most crucial success factors are to know how and where to publish your ads and choose the right partner for the logistical part. Once you know how to, you’ll see completed order after completed order.
Starting a business has become a lot easier today thanks to options technology brings us.
The growth of online platforms is expected to continue which is why you could also consider launching your own company with low to minimum investment.
Thinking online has been the way to go in the last decade with more awareness about the online opportunities since late 2019.
Now, in 2023, both small and big businesses are launched on the internet, giving people all the right reasons to come up with their own business ideas.
Teaching people about successful business on the internet has even become a business idea which illustrates our point of the opportunities the internet has brought us.
You need little to no money to become an online entrepreneur and make money. Our last advice would be to step in this field while you still have a job somewhere else.
Consider your online business idea as a side pursuit for now and think of a business plan and the potential challenges and opportunities related to this.
The guide is meant as a source of inspiration with you being the one responsible for your own success. Good luck!