This article, Best Online Businesses to Start During a Crisis, is the first in an ongoing series dedicated to helping people put food on their tables during the COVID-19 pandemic.
As the coronavirus (COVID-19) continues its merciless and unwelcomed trek across the globe, more and more places are implementing “stay at home” orders. This has taken a toll on people and businesses alike in several ways. Some people are dealing with the virus itself after being infected. Many people (like me) are suffering with the mental trauma of dealing with the stress of the situations. Some are dealing with the financial loss of an income because of the companies that have been closed. Some people have been laid off and others have lost their jobs permanently.
Statistics have shown that a large percentage of people do not have emergency funds that can handle a crisis of this magnitude. And as the days progress it looks as though a $1,000 emergency fund is not enough. What we are dealing with is a crisis that could rally on for months, with no end in sight. Having $1,000 saved is a start, but it’s a small dent in what’s needed to support a family for the long term. What we need are additional ways to make money. If you don’t have a side hustle, it’s time that you get serious about starting an online business.
Best Online Businesses to Start During a Crisis
Given the seriousness of the situation and the reality that you still need to survive, you must find a way bring in money. Now is the time to start an online business and/or take your business online. You do not have to leave your home and you can create products and services that can be utilised by customers in their homes. From my research, these are the best online businesses to start during a crisis.
I must warn you though. Although starting an online business is easy, it requires a lot of hard work. It is definitely not an overnight quick fix. Instead, it requires a bit of time and dedication and consistency. Online businesses can be very lucrative if all of the variables line up in the right order. Of course there will be naysayers and people who will tell you that online businesses do not work. But there are hundreds of examples of people who have started successful online businesses with a domain name and website hosting. And you can be one of them.
One of the major points that should be considered when starting a business is the industry that your business will be operating us. Given the current crisis, there are some industries that will be very difficult to gain traction in. Travel, for example, is not a good industry to get involved in right now. You will find it very hard to make money with travel affiliate products including airlines and hotels. But there are some other industries which may thrive at this time.
I love agriculture from a distance and I think that it’s a great industry for an online business. It targets a global need which makes it very attractive. Because agriculture is so broad, you would have to dig a bit deeper and find niches that are attractive to your target market. For online agriculture businesses, you can create how to videos, sell guides and connect to affiliates who sell these products. There are also affiliate products that you can promote on major networks like Amazon, Commission Junction, Flex Offers or Rakuten.
The beauty of the computer industry is that it encompasses everything that is classified as either hardware or software. In my opinion one of the best online businesses to start in this industry is a gaming website. This particular site will thrive simply because lots more people are at home and they will most likely be spending time on their devices. Your challenge, if you choose to create a business in this industry will be to decide the types of games you will focus on.
Let me be specific and mention that online education is the field to hone in on. Several years ago I started a website dedicated to the career and education development. I shared information about online webinars, seminars, courses, showcases and other related events. Now that more people are at home, I expect that online courses will be in demand as people look for ways to pass the time. Suggestions for monetization include online courses, ads for online events and online books.
Starting an online food business may be easier than you think. One thing that I admire about my favourite food blogs is the quality of the photos that accompany the recipes. If you start a food blog, you should aim to take as many photos as possible to accompany your posts. You can post recipes and make videos to keep your audience engaged. To make money, you can create cookbooks or link to affiliate sites with cookbooks and recipes. Many food blogs have ventured into video creation and have grown massive followings on You Tube.
Now, more than ever, we are reminded about the importance of health services. The health industry is an extensive industry that includes traditional medicine, exercise, wellness and diet. The target market for the entire industry is massive, so you should consider identifying a smaller niche, so that you will have a better chance of being successful. Suggested products, depending on the niche that you focus on, include health guides, online exercise memberships and meal plans.
How to Get Started With Online Businesses
In the coming weeks, I will be posting detailed guides about the best online businesses in these industries that I’ve mentioned here. These guides will outline how you can get started with your very own business in the industries mentioned on this page. If you have an existing brick and mortar, but you’re looking to take the business online, you may also benefit from this series.