- May 2, 2020
Ideas for Starting a New Business during Lockdown
Since the outbreak of COVID19 pandemic, the entire world is going through a disruption phase. Economies are being decimated, and there is yet no scope for the upliftment of the lockdown. As economic activities are almost dead, it is causing great suffering to existing entrepreneurs. While it is challenging to run an existing business, you cannot imagine starting a new business.
Businesses face crisis periodically, but you have no other way around to fix it except wait until the lockdown is lifted. You have already been relying on your savings. It is conspicuous that you will not have enough money to start a new business. Well, there are a lot of business ideas you can work on by investing a nominal amount of money.
As you cannot step out, it will be silly to think about any business that requires a physical location. In this blog, you will get to know several online business ideas.
Ecommerce store is an online store that allows you to sell products and services. It is a digital store. If you have picked a product or service you want to sell and identified your target audience, you can open an ecommerce store on any platform like WordPress, Magento, Shopify, and the like depending on your business requirements.
The key to thriving to your business is to drive enough traffic to your website. You will have to optimize content, make social media presence, and email marketing campaigns to be in touch with your audience. Even if you use the best SEO techniques to generate traffic to your ecommerce store, it can take some time. Ecommerce stores will require you to invest some money. If you do not have enough savings, you can take out doorstep loans.
Freelance digital marketing
Even though businesses are not performing as they were before the lockdown period, entrepreneurs need to ensure that they are in touch with their audience. They cannot lose their customers at any time. Digital marketing is crucial to maintain an online presence. Otherwise, you will lose your rank, and once you lose your position, it can be hard to get back to the same position.
Now that you have got to know why entrepreneurs need digital marketers. If you are ace at digital marketing, you should apply to different companies seeking such services. Make sure that you have experienced in it and an engaging portfolio displaying projects you have handled so far.
Become a blogger
Running a blog is one of the best ways to earn money online. To be a blogger, you do not need to have much money to invest. All you need to do is to buy a domain name and choose a website builder. If you have the flair of writing and you have the potential to provide valuable information to your users, you can be a blogger. To run a blog, you will have to identify your target audience, choose a niche, and brainstorm topics that your users want to know about.
Blogging is an excellent way to earn money, but it takes a bit long time. As you are not selling any product or service through your blog, your entire earning depends on the amount of traffic. To drive more traffic to your blogs, you will have to follow SEO techniques.
Become an affiliate marketer
Affiliate marketing is the best way to make money online. It is a process of making money by promoting products and services of other companies. You do not need to have a product or service to participate in this programme actively. You can promote any product of other companies that you think is worth promoting and earn a significant amount of commission. Your sales will be tracked via affiliate links.
If you want to earn the right amount of commission, you will have to master at persuading users to buy the product you are promoting. However, you will receive a portion of revenue even if the buyer does not end up buying the product.
If you want to start a new business during the lockdown period, you can use any of the method mentioned above. Start-up loans can help you fund your needs if you do not have sufficient money to invest.