10 Profitable Online Business Ideas
In Latin America, electronic commerce does not stop growing. We can verify this fact in our own habits as consumers: not only do we buy online more frequently, but we also add other products to the shopping cart , such as furniture or training courses.
In the case of Mexico, online sales registered an increase of 27% during 2021 (to $401,000 million pesos) and represented 11.3% of total retail sales in the country, according to the latest report from the Mexican Association of Online Sales (AMVO). . Another interesting fact is that around 58% of the Mexican population will buy goods and services online by 2025 , compared to 39% at the end of 2020.
So if you are thinking of making money from home and becoming your own boss, online businesses are a great opportunity! In this article we want to share 10 profitable ideas, but above all how to find them.
So that you have very clear information, start by differentiating the business models that exist in ecommerce.
- Physical products
It is what sells the most on the Internet: tangible products that reach customers through mail , courier services or by personal delivery. The list of examples is endless: from food and stationery to clothing and accessories.
- Digital products
Here you have a great opportunity to share your knowledge, skills and experiences with a large number of people, allowing you to reach other cities and countries. The variety of modalities and formats is also great: you can offer live or recorded virtual courses, downloadable templates, ebooks, etc.
- Services
In this category, the key is that the sale operation is done through the Internet. But then, you can provide the service remotely or in person . What kind of services are we talking about? For example, cooking classes, training, consulting, event photography or insurance .
- Advertising
With this business model, you can offer visibility for a brand, product or service through traditional advertising (banners on web pages, Google Ads) or mentions on social networks, sponsored content, alliances with influencers, etc.
- Affiliates
In an affiliate marketing model, you can offer income from an advertiser for the results obtained in a certain campaign. That is, every time a user clicks on a link, downloads a file or makes a purchase, you can pay a commission to your network.
HOW TO FIND THE BEST OPPORTUNITIES?
Now that you are clear about what you can sell, and before going into specific business ideas , we will tell you how to find the best opportunities for products and services to sell online.
As the experts explain (and we have repeated many times in this blog), the key is not to get carried away only by what we are passionate about or by our impressions, but to make decisions based on data . Therefore, you have to investigate what the current trends are, what unattended needs are in the market, what your potential competition offers and what are the products or services that people are talking about on the Internet.
Some useful tools for finding this information are:
- Articles published in business and entrepreneurship media
- Market studies
- Google Trends (search results for a term like “gluten-free pastry” may indicate an upward trend, downward trend, or query peaks at certain times)
- surveys
- Focus groups
BEST SELLING PRODUCTS IN MEXICO
Although your idea may not be on this list, it is very important that you know in detail what is sold the most in the country; Because with this information you will also understand behavior and changes in consumption habits.
According to an AMVO survey, in 2021 Mexicans bought online:
- home food
- Moda
- electronic
- Culture
- Toys
- beauty and personal care
- Home appliances
- Furniture and home decoration
- sports
- Tools
10 PROFITABLE ONLINE BUSINESS IDEAS
Now yes (finally!), we share 10 product ideas that you can profitably market online, since their demand is booming and the initial investment is not that great. Of course, you will always need an interesting value proposition, creativity, service quality, delivery efficiency and controlled costs.
- Healthy frozen food
With the return to normal activities —and the greater commitment to activities that promote physical and mental health (such as exercise, or free time with the family)— Mexicans are investing more money in practical solutions for day to day. For example, frozen dishes that you can receive at home, to eat whenever you want. You can offer everyday menus (such as beef or chicken stews accompanied by vegetables), specialty foods (such as organic baby food) and explore gourmet options at certain times of the year, such as chiles en nogada or romeritos. In this area, quality is key: if a client has a single bad experience, he will not return.
- Personal care products and natural cosmetics
With the quarantine, this niche grew exponentially. Interest in skin and hair care and personal appearance in general has spread to chemical-free, less aggressive and locally produced products. One of the great advantages for the growth of this type of business is regular consumption by loyal customers and word of mouth recommendations .
- Handmade decoration pieces with a social impact
Although the large online decoration stores, which offer design at low cost, are advancing, there is a great opportunity among those customers who have a higher purchasing power: they are willing to invest more in unique pieces and also have an interest in the impact social of your purchases . Therefore, you can buy exclusive pieces from artists and artisans from all over the country (Mexico has an enormous wealth in this field!) to resell them through an online store. In the marketing strategy , one of the pillars is to tell who is the person behind each piece of ceramics, painting or lamp, and what is its story.
- Fashion accessories
With the increase in clothing prices, more and more people are choosing to buy basic, good-quality garments (such as a white shirt or black pants) and complement their looks with accessories, such as original necklaces or earrings. If you have the skill, you can craft those accessories on your own or buy them in bulk and resell them. For your store to be successful, it is better to offer a few pieces of each model (to give it a sense of exclusivity) and renew the stock seasonally.
- Freelance services
This opportunity is explained by two trends: professionals who seek autonomy and independence to generate their income, and companies that are looking for talent, but prefer not to increase their staff of permanent collaborators. Do not stay only in your knowledge and current experiences and investigate what you can offer according to the current needs of the market . For example, if you’re a designer, you can move towards developing brand identity, illustration, or custom templates for social media.
- Personalized gifts
The end of the year and the gifting season are approaching, both in the retail and corporate markets. In this area, originality and details that highlight the quality of the products, such as presentation or packaging, are key. What types of gifts can you offer? Stationery and decoration items, experiences (such as tickets to shows, spa sessions or weekend outings), gourmet products, cosmetics, etc. The list of opportunities is huge!
- Online courses
The target market is vast: from professionals who want to advance their career and entrepreneurs, to people who want to pursue a hobby or improve their health, through practices such as meditation or exercise. Classes can be delivered live (through a platform like Zoom) or through recorded sessions and downloadable material (such as guides, additional reading material, etc.). Be careful: always share your knowledge honestly and do not sell magic solutions.
- Books
Reading is one of the habits that grew the most during the quarantine and that many people want to maintain in this “new normal”. Now, facing competition from large bookstores and commercial spaces, the key is to target market niches , such as gothic literature lovers, entrepreneurs or kitchen professionals who are willing to pay more for quality works. In addition to physical books, you can offer its electronic version.
- Pet Products
According to data from the Euromonitor International consultancy, the estimated value of sales of the pet care industry in Mexico reached $2,455 million dollars during 2021, which means a growth of 47.5% compared to 2016. To attract customers, think in innovative products such as tech collars to monitor the vital signs of your dog or cat, GPS trackers, mini hair removers and biodigesters for waste.
- Good quality second-hand items
This business model’s main clients are people who are concerned about the impact on the environment of rapid consumption of clothing and footwear , furniture, decoration pieces, toys, etc. The key to the success of second-hand online stores is the curation or selection of the pieces, based on criteria such as “vintage”, “unique piece” or “author”. Of course, it is also essential to clean, care for and recondition each product and inform each visitor to the store about the processes it has gone through to reach their hands in the best conditions.
Online Business Strategy for Newbies
Online business is indeed a challenge that presents a number of important considerations and first steps for beginners.
Enter the world of online business, and you’ll find yourself at a crossroads that requires decisions about choosing the products you’ll sell, in-depth knowledge of who your target market is, and which platforms are best suited to market your products.
But that’s just the beginning of a long list of considerations, efficiently managing inventory, coping with shipping complexities, as well as ensuring that your customer service is maintained at the highest level are also integral components on the road to success in online business.
1. Determine the products to be sold
Quoted
Instead, start
by looking for prospective products through market research, the following are steps that can be followed to attract buyers:
Product research:
Decide on the product you want to sell, if you have an electronic goods supplier acquaintance, note down the capital price of the item.
Do research on various marketplaces such as Tokopedia, Shopee, Blibli, and Lazada to find out the selling price of the product.
Pay attention to the number of items sold to identify market demand.
Profit margin analysis
Pricing:
Determine whether the profit margin is profitable enough.
If you want to sell your products at a higher price, learn effective branding, marketing and selling techniques.
2. Increasing sales (Selling)
After determining the product, the next step is how the product can attract buyers, one of the biggest challenges in selling online is getting testimonials or reviews. Here are some strategies that can be used:
Get an early review:
The Unethical Way: Buying your own items to get reviews, while it can be done, is unethical and costly because of the admin fees.
The Right Way: Direct friends or customers from social media to buy through e-commerce and provide incentives such as discount vouchers or free shipping promos, this will help increase the number of products sold and reviews.
3. Store optimization
The third step is to optimize the online store to make it attractive and trusted by consumers, here are some ways to optimize the store:
Product Display:
Make product names, descriptions, and photos as attractive as possible and different from other stores.
Add clickbait elements such as the word “free” and provide small attractive bonuses, such as free packing bubbles or cute bags.
Using ads:
Utilize the advertising features in the marketplace, focus on search ads with specific product names to avoid unserious clicks and save advertising budget.
Take advantage of promotional features provided by the marketplace, such as free broadcast or chat to customers who have purchased.
Increase traffic, use promotional features and chat to upsell products to customers who have already bought.
By following the steps above, beginners can get a clear picture of what needs to be done to start and optimize an online business.
How to Tead the Windows 8.1 key
Windows 8 or the updated version Windows 8.1 was not as successful as its predecessor, the current Windows 10, but the system is still installed on millions of desktops and laptops. Since Microsoft continues to provide the system with security updates until January 2023, there is little reason for satisfied Windows 8.1 users to switch.
This makes it even more important to know your Windows 8.1 product key. It is required at the latest when you want to transfer an existing Windows installation to a new PC. Even with a complete reinstallation of the PC or laptop, including formatting the hard drive, the key is not always required, but it often is. The exception is PCs that ship directly with Windows 8.1 . In them, the product key is stored in the BIOS so that Windows automatically recognizes it during installation. There is also no need to enter the key when restarting the Windows 8.1 installation .
- Here you can find the Windows 8.1 key
- Read Windows 8.1 key with a free tool
Here you can find the Windows 8.1 key
Just like in Windows 7, in Windows 8.1 there are also different locations to store the product key. The easiest location is on PCs or laptops where the system has been pre-installed. The key is usually found here as a sticker on the box . However, it is also possible that the manufacturer has saved the key in the BIOS. In this case, you can read the Windows 8.1 key with a free tool.
If you purchased Windows 8.1 separately, you can find the key in the manual or email from the seller. If you no longer have access to it, you can also help yourself. As long as you have access to a Windows 8.1 installation, you can determine the key using a free program.
Read Windows 8.1 key with a free tool
As with Windows 7, it is also possible to read the product key of a Windows installation for Windows 8.1. There are a whole series of free programs for this. The free and open source ShowKeyPlus program is proven and simple. After downloading, launch the appropriate version: ” ShowKeyPlus_x64.exe ” for a 64-bit installation of Windows 8.1 or ” ShowKeyPlus.exe ” for a 32-bit version .
The program now immediately displays the Windows 8.1 product key. You’ll find it in the ” Key Installed ” field. If you purchased Windows 8.1 directly with your desktop or laptop, the ” OEM Key ” field may be of interest. If ShowKeyPlus displays a value here, you should also write it down. It is the Windows key that is stored in the PC’s BIOS . If Windows does not recognize the key during a later reinstallation, you can manually enter the key to activate the system.
With a click on the ” Save ” button, you also have the option to export the displayed data as a text file. Keep this in a safe place to repair Windows 8.1 activation if necessary.
Strategy Read of Literacy in Early School Years
Beginning reading is a stage of the reading learning process for early grade elementary school students. Students learn to acquire the ability and master reading techniques and be able to capture the content of reading well. Reading skills are directly related to the entire learning process in elementary school. Students who are unable / still not good at reading will have difficulty in participating in learning activities in every field of study. Students will have difficulty in capturing and understanding the material provided in various textbooks.
So that learning does not run monotonously, then we can use a learning media as a more interesting material conveyer. By using learning media, teachers can provide material, convey and stimulate students’ thinking with the aim of delivering messages from learning sources in a planned manner so as to create a conducive learning environment where students who receive can carry out the learning process effectively and efficiently. The learning media that we apply in this study is color memory card media.
The role of media in learning is the most important thing because it is used as an introduction or intermediary to convey learning. With innovative media, it is intended to be a link so that children can remember what they have learned and the learning is more meaningful. The media used in this research is letter cards or flashcards, with the hope that it can attract more interest, attention and motivation for students to learn to recognize the alphabet.
Children do not recognize some letters and still have difficulty remembering letters, students are not too familiar with the shape of letters, but students can know the names of letters by memorizing them. Some of the child’s problems we have a target, the child can recognize some letters, letters A, B, C, and D. By achieving these targets, we can use color memory card media and the learning strategy used is an inquiry learning strategy, with the following steps:
- The child is given an explanation of several letters that will be treated (letters A, B, C, and D).
- The teacher practices to the child the use of “memory card color” media.
- Children are asked to learn the letters first and then guided to recognize the letters with the media.
- The child is taught slowly related to letters with the media.
- Children can be taught numbers interspersed with singing.
Advantages of Data Storage and Management
Data has become one of the main assets of businesses, no matter what their size. The reason is its usefulness for the objective analysis of scenarios and strategic decision making , in areas as varied as Finance, Logistics and Human Resources .
In the case of personnel management, data is essential to improve; for example, the processes of identification and recruitment of talent. Also, to measure productivity through data such as the level of absenteeism, arrivals after hours or turnover rates in critical areas, where, for example, there is a lot of investment in training and training.
Let’s see in more detail what are the advantages of data storage and management for the Human Resources area.
#1. Improve talent attraction and retention processes
For those responsible for Human Resources , data is essential, since it allows them to analyze market trends, what are the salaries paid, what benefits the competition offers, etc. With this information, they make more focused searches on the talent they want to attract, with better offers and through the appropriate channels and media , to obtain more optimal results in the selection processes.
#2. Allows you to update the company’s salary and compensation policies
Another advantage of data analysis (in the case of large companies with vast volumes of information) is that it allows you to compare the salaries or other benefits that the company offers against those of the competition in similar roles. In order to apply adjustments to the salary policy based, for example, on performance, compliance with work schedules , the level of absenteeism, etc. Of course, to obtain this data it is essential to have tools such as a comprehensive payroll platform , which allows processing real and objective information on the current staff of employees.
#3. Facilitates the detection of wage gaps
In relation to the above, with the payroll platforms, reports can be generated that allow comparing, for example, the salaries of employees with 10 years of seniority, the same level of responsibility and different genders. In order to discover, for example, that women receive salaries that are 30% lower. Therefore, the storage and management of data favors the development of fairer salary and compensation policies.
#4. Drive development and training plans
Using the data, consultancies can generate reports on the new talent needs of companies and different sectors of the industry (for example, digital skills or soft skills). And on the side of the companies, create talent maps to know where the strengths of the business are and what needs to be improved.
#5. Allows detecting red dots in processes and assigning roles
Finally, the generation of reports and the analysis of large volumes of data allows those responsible for Human Resources to analyze processes, organization charts, roles and results . With the information obtained, they can detect problems and opportunities for improvement to implement the necessary adjustments to optimize the overall performance of the team.
What is a Softphone?
Everyone who has dealt with a business phone service has probably heard of a softphone. And perhaps you too have wondered what a softphone really is. And in fact, a softphone is not really a phone. Confused? Let’s clear things up!
- What is a softphone?
- Types of softphones
- Advantages and disadvantages of softphones
What is a softphone?
A softphone is software that simulates the function of a telephone and allows you to make, receive and manage voice calls over the Internet. Softphones can run on computers, tablets, PCs, and smartphones and are required for VoIP and video calls. They often take the form of dedicated voice calling or chat apps, or apps embedded in other websites and services (eg, Facebook Messenger, Google Hangouts).
Note : VoIP stands for Voice over Internet Protocol or Voice over IP and generally refers to the technology used to make voice calls over the Internet.
A softphone is made up of the following parts:
- an interface that serves as a platform for communication between the user and the computer or device. It usually consists of a graphical numeric keypad that resembles a telephone and, in some cases, a keyboard for entering the names of new contacts and searches. The user interface also contains control keys to handle calls.
- A call processing engine with modules in a communications API that allow calls to be made and received in a specific protocol.
- A set of codecs that allow voice data to be encoded between analog and digital formats. Codecs also compress data so that it can be easily transmitted over the Internet.
- A contact list that allows you to keep track of numbers and names and easily manage correspondents.
Types of softphones
Softphones have evolved over the years as the VoIP industry has grown. In the early days of VoIP, softphones were replicas of the traditional phone via a computer, but have since expanded their repertoire to include video and other features not available on traditional phones.
Softphones differ from each other in their features, intended use, complexity, protocol, as well as the functions they offer. For example, a softphone designed for business purposes is likely to have a rich and feature-rich user interface with extensive menus and options, while chat applications on smartphones may have very simple user interfaces, requiring only one or more options. two touches to start communication.
There are many applications and services for softphones. Skype is a well-known example of communication software whose user interface includes softphone features. However, since Skype users are identified by their usernames and not by numbers, the dial pad is not often used. SkypeOut calls allow users to dial the numbers of landlines and mobile devices they are in contact with through a very simple user interface. Discord is also a softphone in a way. Although it does not communicate with fixed or mobile devices, voice calls can be made as easily as with a telephone, and from practically anywhere. Users are identified with a username and ID, and the software user interface,
The most sophisticated softphones do not imitate conventional phones. Instead, they use other methods to select contacts and dial numbers. For example, some softphones use speech recognition to initiate the call.
A good example of a business softphone is Counterpath’s free but feature-rich X-Lite. A more advanced version is the Bria Solo, for a fee.
Advantages and disadvantages of softphones
Advantage
- Save money on calls
- Easy call forwarding
- Real-time call monitoring
- Call recording and transcripts
Another advantage of the softphone is that it is not tied to location. When a softphone is connected to an employee’s laptop, the employee can take calls in the office, while traveling or working from home. Similarly, softphones give users a single phone number to answer calls, regardless of the device they use. This eliminates the need to distribute personal mobile phone numbers to customers, for example.
Disadvantages
While you don’t need traditional phone hardware to use a softphone, you may need a headset and earphones. Most softphones offer speakerphone functionality, but not everyone wants to talk hands-free with their computer every time they answer a call.
Because softphones rely on an existing device and Internet connection, users have no way to make calls if one of them goes down. If your laptop crashes or you lose your Internet connection, you have to resort to a traditional phone. There are softphone apps that use a smart device like a phone, but constant use (as with any app) can quickly drain a device’s battery.
What Does SIM Lock Mean?
Depending on the SIM card to be used in the smartphone, it is worth checking before purchase whether the mobile has a so-called SIM lock or not. In this article we explain what is hidden in the acronym, how you can tell if your smartphone has a SIM lock and how you can remove it if necessary.
- What does SIM lock mean?
- Does my smartphone have a SIM lock?
- Remove SIM lock
- SIM lock vs. Netlock
What does SIM lock mean?
The abbreviation SIM stands for “Subscriber Identity Module “. A SIM locked device is a mobile phone with a locked SIM card. The blocking can refer to a specific mobile phone provider or a specific mobile phone network .
Mobile phones that have a SIM lock are usually cheaper when purchased, because as a result of the purchase only SIM cards from a specific mobile provider can be inserted into the mobile phone. If your mobile does not have a SIM lock, you are not tied to a specific provider and you can insert any SIM card . Therefore, the SIM lock used to exist mainly in prepaid mobile phones. In case you need a lock-free smartphone, you should go for one without SIM lock. There is also strong criticism of SIM lock: for example, the British regulator wants to ban it in the future.
Does my smartphone have a SIM lock?
Follow our step-by-step guide to check if your phone has a SIM lock. The instructions were carried out on an iPhone, but they work just as well on Android devices.
Note: Please try to insert a foreign SIM card into your phone first. If it is not recognized, your device has a SIM lock.
Remove SIM lock
SIM lock removal varies from provider to provider and may also be related to the period of use of the smartphone . Therefore, before buying a device, think carefully whether the SIM lock must be present or not. After about two years , it is possible to remove the SIM lock with most carriers.
SIM lock vs. network lock
SIM lock and network lock are often confused with each other. However, if your smartphone has Netlock, there are a few options to switch carriers. While you cannot insert foreign SIM cards into a SIM locked device, with Netlock you can use SIM cards from other providers on the same mobile network . For example, if you buy a mobile phone from Vodafone, you can also insert SIM cards from providers such as Edeka Mobil or Fyve into your mobile phone, as they also use the Vodafone network.
How to Network Online and Get Results
Who can doubt that networking is one of the pillars of business growth? And in this new normality we learned that we can also make new contacts online to have relevant conversations aligned to the interests of the company through social networks , messaging applications and other digital channels.
But, as the experts explain, it’s not just about making lots of new connections on LinkedIn or subscribing to every newsletter you’re invited to. It is about generating a strategy focused on authentic , lasting relationships in which everyone wins. Let’s see how to achieve it through these five practical tips.
- Clearly define your target
Before starting to search for contacts , it is important to be clear about who we want to find . It’s best to be as specific as possible; For example, if you sell pastry supplies and want to expand your prospect base, is it better to contact the pastry shop owners, pastry chefs, or purchasing managers? What age and experience do these professionals usually have? What social networks do you use most frequently? With this data you will make your networking give better results and do not waste time in events or platforms where you will not find this type of profile.
- Always keep in mind what you need
The second important point is to consider that we all network because we need something; That is why it is vital to have perfectly defined what we are looking for when generating new contacts. For example, selling, getting better suppliers or finding the best specialist in financing for SMEs. Don’t be afraid to say what your purpose is when you send a message to someone on LinkedIn or WhatsApp . No one has much time to waste when they are focused on their own goals.
- Before jumping online, start with your community
It may seem strange to you that, with today’s access to the Internet, the third piece of advice we give you is to focus on your city or even your neighborhood. The reality is, if you’re just starting out, you’ll be better off generating your first contacts with people you might meet face-to-face at a local event: who might hear about you from a mutual acquaintance, or who would prefer to work with companies of your own. community. There are many advantages of this strategy to generate quality connections , to later follow them through digital channels.
- Find common ground with your interlocutors
Another recommendation from the experts is to favor the first contacts with people with whom you have something in common, this will make the conversation flow more easily. Some selection parameters can be former students of your university or master’s degree, members of a club or other prestigious organization in your city, and even people who collaborate as volunteers in a foundation close to your heart. Always remember that professional connections are best when they are authentic, credible, and based on common interests.
- Generate genuine conversations
Getting a potential customer or vendor to accept your Facebook or LinkedIn friend request is not the same as generating a valuable lead . If your intention is to share your product catalogue, ask for advice or access information about training, you need to talk to that person: preferably in person, or if not through a videoconference platform, to be able to see each other and have a first contact more genuine. The time will come later to share data by email or a WhatsApp broadcast list.