Once you have that problem or need nailed, the next step is to validate that idea and make sure you’ve actually got customers who will pay for it. This means building a minimum viable product, getting objective feedback from real customers, incorporating updates, testing the market for demand, and getting pricing feedback to ensure there’s enough of a margin between your costs and what consumers are willing to pay.
Etsy: While Etsy's popularity has declined recently, it's still a great resource for selling handmade items online. No need for complex ecommerce sites or merchant accounts or any sort of automation. The company takes a commission of every sale and charges a small listing fee per item. But many still use Etsy as their primary source of income. The best part is that you can also sell digital products on here such as poster designs.
As an internet entrepreneur, you'll need your own web presence:website, blog, social media platforms, landing pages, sales pages, banner ads, or e-commerce site. But instead of selling your own products, you sell the products of other companies. You can use several of these combinations, if you like, as long as you get your marketing message to the public.
Because of the strong interest in quality of life and work-life balance issues, life coaches have become popular in recent years. Unlike the intellectual demands of becoming a technical or executive coach, life coaching can be successful if you possess common sense, a respect for family and a commitment to enjoy life to the max every day and helping others do the same.
Manage social media for businesses. If you have a knack for social media, you could potentially get paid to manage various platforms for others. Many businesses are too busy running day-to-day operations to stay on top of their Facebook, Twitter, and Pinterest accounts – and will pay someone with the knowledge and time to do it for them. To find these jobs, ask local businesses and check sites like UpWork.com and Problogger.net.
Similar to investing, peer-to-peer lending is where you loan money to someone else, and they pay you back with interest. The great thing about peer-to-peer lending is that you can lend as little as $25, and your loan will get bundled into a bigger loan for the borrower. Each month, they'll pay you back principal and interest. You can snowball this initial investment into many investments because you get your principal back as well each month. Many lenders earn over 5%-7% on their investments. Check out Lending Club to get started.
Robo-advisors are diversified investment accounts that are automatically managed by a computer algorithm (as opposed to a human money manager). If you want to invest, but don’t have the money, or don’t want to invest with a money manager, robo-advisors are for you! Robo-advisors make investing easier—and cheaper—so they’re perfect for new investors.