Online business growth in India has opened up a host of new avenues. It has also brought a set of challenges that businesses need to overcome.
-
- 4 minute read
The business landscape is an exciting place to be. There’s a good reason most entrepreneurs aren’t able to step out of the startup ecosystem. However, a common mistake many new entrepreneurs make is looking for new innovative ideas. Businesses aren’t only about finding and doing something new, rather also about improvising something that’s existed for years and making it new. Physical marketplaces have existed for time immemorial. Revolutionizing this existing concept into online marketplaces was brought about by genius brains Alexander Randall 5th and Cameron Hall, founders of Boston Computer Exchange.
The present-day business environment has become progressively competitive, and being culturally and technologically relevant is what businesses aim for. After understanding your business acumen and its need to manifest, we have here a list of online business ideas for 2022.
Online business is booming. Even traditional businesses are making the move to online. If you want to start an online business, there are few things to consider:
- What are you passionate about?
- What do you enjoy doing?
- What skills do you have?
- What resources do you have?
- How much effort are you willing to put into your business?
- Do you have the finances to invest in your own business?
Once you’ve answered these questions, you should have a baseline of what kind of business you could get into.
If you don’t have the financial resources, try and sell your skills.
You probably have more than one idea of what online business you want to pursue. Take the time to research that business. Check if others are doing the same business, find out what hurdles they faced and how they achieved success.
There is a very high chance that any space you are looking to get into has some competition. But don’t let that get your spirits down. With a little bit of creativity, you can find a way to add your flair to your online business.
Remember, online business has changed a lot in recent years. Online business growth in India has opened up a host of new avenues. It has also brought a set of challenges that businesses need to overcome.
Here are a few ideas for your online business. Make sure that you have the skills or are willing to acquire the skills required for your desired online business.
Content Creation
Content creation has been a sector that has seen exponential growth in recent years. It has secured a central position in pretty much all businesses. If you are looking to leverage your skills as a creator, here are some online business ideas for you:
Blogging
Blogging is a great way to make some money. No, it isn’t just a side hustle anymore. Here are some facts that make blogging an interesting online business idea:
- 4.8 billion people have access to smartphones.
- There are about 4.66 billion internet users around the world.
- More than 850 million blog posts are published every month.
- Blogging has increased by about 12% since 2015.
With increased access to mobile devices and the internet around the world, combined with a significant jump in their usage, blogging has become quite a popular online business.
While that does make the space sound a little crowded, this space is expanding, and the need for great content isn’t going to stop anytime soon. Over half of all content marketers agree that blogging is the most important content strategy.
If you’ve got creative writing skills or just want to share your experiences and joy with the rest of the world, this is a fun space to explore.
What do you need?
- A laptop or computer
- A reliable internet connection
- Creative writing skills
- Zero investment in infrastructure if you have everything mentioned above
- Choose a blogging site or use social media. You could also start a website.
Vlogging
Creating an online business that involves gripping video content has a high chance of success. Especially if you enjoy capturing moments on video
Here are some facts about content consumption:
- On average, users spend about 3 hours and 15 minutes on their phones.
- 70% of total digital media time is spent on mobile devices.
Even if the content isn’t very different from others in the same space, its presentation can be a huge factor in getting subscribers.
One thing to keep in mind is that we have all become used to ingesting short bits of information due to social media usage. Keep your videos short, creative, and full of specific information.
What do you need?
- A good phone camera
- A go pro (if your content involves a lot of movement)
- A reliable internet connection
- Video editing software
- Audio recording device
- A laptop or computer
- A social media account
Graphic Designing
Graphic designing is an integral part of content creation. It isn’t much fun staring at pages and pages of data if there aren’t any graphics to liven things up a little. If you are great at graphic design, start your own graphic design agency; you don’t need an office.
What do you need?
- A laptop that can handle relatively intense graphics
- Graphic design software (Adobe Creative Suite, Corel Draw, etc.)
- A good internet connection
- Build a portfolio (use Wix, Adobe Portfolio, or Canva)
If graphic design interests you and you aren’t yet comfortable with all the tools, enroll in a few online courses on Coursera or other such websites.
Sell Online
Take a look at a few online business ideas below that involve selling things you probably haven’t thought about. This could be anything, from dehydrated jackfruit to custom puppy clothes.
Domains
Domains are the real-estate of the online world. Essentially they are the location of your website on the internet or how people can find your content. They were created to make it easier to remember these locations instead of remembering complicated IP addresses.
Buying and selling domains at a margin is a smart way to make some quick turnover. If you can integrate a few add-on services, you may be able to create a little niche for yourself.
What do you need?
- A laptop or computer
- Internet connection
Online Courses
E-Learning
If you are a great teacher or just enjoy imparting knowledge, start online courses. This is a great online business. It could range from knitting to rocket science.
With fewer activities to keep people occupied and fewer distractions, more and more people are investing in learning new skills and hobbies.
What do you need?
- A computer or laptop
- An internet connection
- Design modules or outline your syllabus
- Post your course on other websites like Udemy (or start your own)
- Have a strong social media presence
If your e-learning course is video-based, you need:
- A camera
- Audio recording device
- A physical or virtual whiteboard
- A rough script
This will help you to carve out a little section in the ed-tech sector for yourself.
In Summary
Undoubtedly, the growth of online businesses in India has opened up lots of channels post the pandemic. Even, the tech revolution has played a huge role in changing how online business works. Thus, an exceptional idea coupled with undying effort is sure to make your online business idea a success.
