For businesses across the globe, New Year means new room for improvements, new projects to be launched, new goals to be achieved, and new business heights to be reached.
For those who haven’t invested in business yet, 2018 also the year for you to think of putting up your own business.
And where better to start is through internet.
In Malaysia, 98.5% of businesses are SMEs and the number is still growing at the time of this writing. Most of those businesses started their journey using the power of internet.
So for this series, we will be giving you a list of business ideas you can start in 2018 and start earning with the use of the internet.
Web Development Services
One can’t deny the fact that every business of this generation needs a website in order to compete in today’s business landscape.
Taking this opportunity as an advantage by providing impeccable web development services can bring you lots of income in 2018. It is also a way to establish connection between your clients so that you will have a base when you start your new ventures in the coming years.
Web and Graphic Design Services
More often than not, web design is included in website development process. However there are still independent firms in Malaysia who offer exclusive website design services to small to medium enterprises.
If you have a talent in designing, you can partner up with a web development firm in your local area start collaborating with them.
The idea behind this is that you can start building your portfolio and when the time comes to operate on your own, you have something to show to your future clients.
Online Business Coaching
Did you know that you can earn tons of money using online business coaching? If you ever bumped to one of Tai Lopez’s videos, you will be amazed how he managed to gather a huge fan base that actually make purchases of this money making books.
It is also one of the rising online money making strategy today especially with the number of small businesses scattered around the world.
When done successfully, you can cover wide ground target audiences outside Malaysia. And business coaching is a lucrative online business that can tap into the massive market of entrepreneurs and business owners trying to find their way in the world of commerce.
SEO & Digital Marketing Services
With the number of businesses in Malaysia that needs digital presence, it’s a no-brainer that providing SEO and digital marketing services brings a lot of money.
2017 has been great for Poxse as we managed to close a lot of major accounts and we are expecting to boost our growth in 2018 with our excellent SEO and digital marketing services.
You can also take advantage of the demand for digital marketing services by starting to form your own team, find clients, and start providing online marketing services.
Social Media Consultant/Service Provider
Social media marketing and management often comes under a digital marketing package. But there are small businesses that can’t afford to spend a fortune for a holistic digital marketing services, leading them to find specialized consultants or providers that will help them focus their marketing efforts in one channel.
Social media is one of them. There are businesses in Malaysia that only want to engage through social media marketing.
And if you have the right skills, then you can provide social media services to these kinds of businesses across the country. One good thing about this is that it is much easier to manage compare to SEO and PPC services yet the earning can be still competitive.
Take advantage of small businesses in Malaysia with small social media marketing budget and minimal work requirements, try to close as many as you can and form a small team to work on them.
Affiliate marketing is an online money making strategy that focuses on selling other people’s products and get a commission out of it. Two of the most affiliate marketing websites are Amazon and Clickbank.
Okay, let’s face it, there are people who are dreaming of having a business yet are not ready to spend money for investment.
If that person is you, then affiliate marketing is a best option for you.
Yes you don’t need to spend money to get affiliate marketing right. Just a little bit of writing skills and good product can help you make money.
However, the most ideal option is to allot a small budget for your marketing if you want to gain great results.
App Development Services
You can be a web development provider but not an app developer because there’s a huge difference between developing a website and an app.
If you specialize in app development, then providing services will surely a great way to make tons of money.
It is also relevant to provide such a service because of the growing demand for digitalized products. Mobile applications are more popular than ever, and people are willing to pay good money for ways to manage their lives and businesses from their smartphones.
Remote Technical Support/IT Services
A lot of small businesses in Malaysia don’t have room in their budget to house a full-time IT staffs due to budget constraints, so if they are using a system and goes fritz, they will usually contact a computer savvy person to fix the problem for them for a little cost.
This opens an opportunity to provide remote IT services to small businesses in Malaysia at a very affordable cost. Besides, these types of businesses don’t use complex software or systems and that makes the job easier for the provider.
If you have experience working on computers and networks, you can eliminate their need to call in a favor and offer immediate remote technical assistance.
Become a Youtuber
No they’re not!
They are actually making millions out of their Youtube videos either through Google Adsense or other sponsored videos.
Online videos are becoming more and more popular these days. From Instagram and Snapchat Stories to Facebook Live video, video will only continue to grow in the coming years and Youtube videos are not exempted.
Whether you want to start a video blog and earn through ads or selling products or building a huge Youtube subscribers to drive traffic to your website, 2018 is a great year to start.
Set up an E-commerce Website
Malaysia is home to South East Asia’s biggest ecommerce networks like Lazada and Best Buy, and people start to switch from traditional mode of shopping to online shopping.
It is also one of the best ways to earn money online. Although setting up an ecommerce website will cost you money and time, it is still worth investing given the amount of demand that is coming from the consumers.
Once setup, the opportunity to earn a lot of money will be multiplied as you can also use your ecommerce website for affiliate marketing or sponsored posts.
How to start a profitable ecommerce business in Malaysia?
• Look for a profitable market. Lazada and Best Buy Malaysia already covered a wide spectrum of market in the country and competing against them by following their business model will be a waste of time and money. What you can do is to find a specific market where you can sell specific products to a targeted amount of people. This way, you can steer away from stiff competition and will have more opportunity to be known by your target audience.
• High converting products. Now you that you are able to determine your market, it’s now time to look for products that will be relevant to your target audience. It’s a no-brainer that if you compete in cosmetics industry, you may want to avoid selling construction products. Market and sell products that are best fitted to your target audience.
• Find a relevant ecommerce store provider. Our primary recommendation is to setup a shopify store if you don’t have enough money to build your own custom made ecommerce website. For a small monthly fee, you will have the chance to setup your very own online store and start earning.
Those are just the basics if you are considering an ecommerce business. You can look for additional resources on how you can make it successful.
Online Drop Shipping
Drop shipping is fairly similar to affiliate marketing. The only difference is that you are going to focus on physical products and will act as the mediator without ever touching the product and will earn a commission once a sale is made.
How cool is that, huh?
However, in drop shipping you might need to have your own system or subscribe in a monthly payment basis to some ecommerce platforms that offer drop shipping like Shopify.
This is a cool business to start in Malaysia as there are so many ecommerce websites operating and almost no one does drop shipping.
Remote English Teaching
This can be a good opportunity to start offering English classes and a good amount of money from it. You just need some certifications, a good internet connection, and a working computer with camera and you are good to go.
Amazon and other ecommerce websites allow digital materials to be sold in their websites, a good opportunity to earn money. Another thing is that there are very few people in Malaysia who opt in to this kind of online business, leaving the competition quite light.
Malaysia has some of the best tourist spots in the world and there are a handful of photographers take advantage of them in terms of earning.
If you have stock photos that are originally yours, you can sign up to image hosting websites and have your images sold.
Online Data Entry Services
While this online business idea doesn’t generate a hefty amount of money, it can still be done within the comfort of your home. Besides, doing data entry will not eat up a lot of time, thus giving you extra hours to work on other ideas we mentioned.
This is the kind of online money earning ideas for people who want to earn while travelling. Again, doesn’t deliver a huge amount, but good enough to support whatever you’re doing.
These are some of the best online business ideas to invest in 2018. Doing preparations as early as now could be the determining factor between success and failure.
Choose carefully the business idea that you are going to start and study everything that goes with it. That way, you will be aware about the strategies that you are going to apply.
Lastly, our blog as a lot of tips and guides on how you can grow your online business. Digital marketing strategies, local resources, and a lot more are available on this blog for you to apply to your business.
We will still be updating our list for future reference. If you think you have something to share with us, please do not hesitate to drop it in the comment section.