When you want to go into business for yourself or grow behind a basic level of income, it’s important to look farther afield to new opportunities and untapped markets. You also want to consider ideas that still work well where early adopters have already moved on leaving the field less competitive for people digging in for the long-term.
Here are a few thoughts on some new business ideas that might hold an interest in 2019.
Niche websites typically review and promote products. Each owner hopes to sell a few products each month for the commissions.
In the new era of niche sites, they publish higher-quality content than ever before and present it well. The idea is to go deep, not wide with the information provided. This beats out the enormous multi-million-dollar authority sites that go wide covering seemingly every product imaginable, but not deep with useful information.
Currently, Google is favoring both authority sites and niche sites. For many commercial searches, it’s possible to find hyper-focused niche sites ranking in the top ten mixed in with big names. This is a change from times past where Google actively snubbed niche sites because the content quality wasn’t good enough.
Amazon FBA with a Twist
Amazon FBA where you buy a product from an American or Chinese producer, brand the packaging and offer it as a third-party seller through Amazon.com remains popular. It’s somewhat more difficult to get started now because of the larger initial order that’s necessary to avoid running out of stock. There’s a 6-12-week lead time on replenishing supplies from China.
It’s no longer possible to give away a product in exchange for a (usually favorable) review. This leaves new entrants stuck on how to compete with similar products that already have heaps of customer reviews.
Doing FBA with a twist neatly gets around this issue. By owning a successful niche site selling the same type of products that you wish to get produced under your own brand, it’s possible to push your own product through your niche site audience. Instead of only promoting a competitor’s product, the focus is placed on your own.
For Amazon, this provides a steady stream of initial buyers to get the Amazon sales rank lower (lower means greater sales) and the ongoing success of the niche site continues to send new buyers to Amazon. Then the niche site is making a commission and the product is selling profitably too. And with initial sales come the customer reviews too. In this way, you’re fueling your own success.
Blogging for the Long-term
If you’re willing to write about a topic that you’re passionate about and people are interested in, then blogging is a good side hustle. It’s something that can be built slowly on the side, so it doesn’t interfere with your main business.
Successful blogs make money from private advertising, advertising networks like AdThrive and MediaVine, their own courses and e-books, affiliate sales, and coaching services. Once a following is developed, it usually survives even if the site no longer ranks as well in Google.
There are hundreds of different approaches to take to find success online. We’d suggest only tackling one or two at a time and giving them 6-12 months to get some initial success. Most success doesn’t happen overnight; even online.