The best online businesses are yet to be developed. That gives each of us an opportunity to develop something new. But everything about an online or other business does not have to be totally new. The set up and operations of the business can be the same as other businesses, but something--like the product--has to be new, and in demand.
If we were clairvoyant, we could foretell the next big trend and get into it before it takes off. But the best we probably can do is create something that has a new twist, something that departs from the norm or conventional, something with an advantage over current ways. We can also watch for signs of growth potential in the economy, society, industry, etc., and jump in as soon as possible or comfortable.
When it comes to business trends, several of the best reporters of it are publications such as The Wall Street Journal and the New York Times. There are specialized business publications, such as Barrons, Entrepreneur, Inc. Magazine, and others. Your local newspaper, especially in metropolitan areas, may also qualify. These can be subscribed to, and read online, if you want.
How did the best online entrepreneurs develop the ideas that led to their fantastic business successes? These best online businesses succeeded by using various methods to get there.
Often the evolution of a business or development plan leads to better than expected results. Some of these people single-mindedly decide on a course of action and get there by sheer persistence.
Some of the most successful online business minds are Jeff Bezos of Amazon, eBay founder Pierre Omidyar, David Filo and Jerry Yang of Yahoo!, Google founders Larry Page and Sergey Brin, and Mark Zuckerberg of Facebook.
Bezos had studied electrical engineering and computer science, but began with investment work on Wall Street. In mid ’94 he became convinced that the internet had untapped potential for a website that could sell books and other items online. He quit his job and moved from New York to Seattle where he got software developed for the operation of Amazon.
Omidyar, who has a background in software development, intended to help his girlfriend find collectible Pez dispensers. He decided to add an auction page to his existing web site. The page attracted so much traffic that he expanded it to a full auction site that he named eBay.
Filo and Yang met in electrical engineering courses in the early 90s. Away from classes they saw a need for a directory of websites, which they wrote and posted online. This became the basis for Yahoo!
Page and Brin developed a better search algorithm, an improvement of the method for ranking websites. Their algorithms helped propel Google to become the largest search engine.
Zuckerberg, who had developed several software programs in his teens, got his initial ideas for Facebook from college colleagues.
The sketches above show that these internet masters often discovered trends, identified needs, or noticed potential for improvement, and they acted on them. You can also identify trends, needs, improvements, and, combined with your own interests, begin your next step forward with the internet.
Online Business Trends that Point to Best Online Businesses
When considering the best online businesses, no one can tell you exactly what business you should start in order to become successful online. But let’s take a look at some current trends. Make a note of any of them that strikes you as interesting, having potential, or worth investigating further.
Manufacturing may be starting to have a resurgence in the US. There is a movement, the Reshoring Initiative, to bring manufacturing back from overseas due to cost advantages of domestic production.
Mobile computing device use is rapidly growing. You can use it to improve your own online business.
Ethnic market – there is rising growth of the Hispanic market demographic in the US. The market potential of other ethnicities may also be growing.
Products to manufacture and/or sell because demand trend is increasing:
Home brewing supplies
Green home components
Oil field components
Drone aircraft and other robots
Shoes, apparel, accessories and related items
Specialty/luxury items sold via an online store - use a shopping cart and one or more in-demand products.
Niche items, locally available or trendy, items that simplify life, and sell on Amazon or eBay
Service-promoting businesses with positive trends:
Online service to small businesses to optimize existing sites for mobile apps - 98% of small and medium businesses need this service.
Development of custom application software - you obtain clients, outsource programming
Travel agency online
Graphic design services that design logos, website graphics, corporate branding, and design and layout of advertising, including videos
Photograph composition including stock photos and photo editing.
IT security consulting
eBook writing for specific audiences, export to PDF, Kindle, or .ePub format
eLearning content manager or writer
Teaching online: provide online tutorials and lessons, can be in real-time using Google+
Personal assistant online who does research/admin and hires virtual office workers
Securities broker: requires licensing from Financial Industry Regulatory Authority, apprenticeship, licensing exam, and ~$5,000 fee. Can use Advanced Data Processing trading software and charge clients 2-3% for trades, according to Forbes Magazine.
Creating niche sites based on a keyword with low supply and high cost per click: see Business Internet Startup.
Social network game development
Non medical home care - providing home care workers, online concepts such as CareLinx
The best online businesses are waiting for you to discover them. Think and search. The internet continues to amaze. Its growth is still phenomenal. It touches and changes all types of businesses and offers new relationships. There is great opportunity without the overhead. We want to help you profit from this through starting your own money making business at home.
Go from Best Online Businesses (this page) to Part Time Internet Business (next page in this series) for best part time businesses to start.