How Starting Online Business Can Help You Become “Atma Nirbhar”
Ask those whose businesses got hit substantially during the lockdowns. Ask those who have been laid off or furloughed from their job without any further notice. They would tell you how significantly Covid-19 has affected them.
According to the latest report, during this lockdown period, around 120 million people lost their job and many are working on half salaries. As per the Centre for Monitoring the Indian Economy (CMIE) the unemployment rate in India is now at a record high of 27.1%. Which is four times higher than the US.
Addressing this issue, India’s Prime minister Narendra Modi insisted people to see COVID 19 outbreaks as an opportunity in disguise. And he suggested individuals and small businesses to become AtmaNirbhar.
Today those who have lost their jobs wish if they had their own business, they wouldn’t have to face these problems. They wish they were what India’s Prime minister calls -“Atma Nirbhar” (Self-reliant). But would it be suffice to have their own business to succeed financially? Because there were many business owners who also had their businesses and had to bear a loss in their customers as well as income. Well, the reason was their absence on the internet.
In this article, we are going to shed some light on how to become Atma Nirbhar; that too in an effective way. We will share some viable online business ideas that can be started easily and can prove to be money generating for the owner even in this tough situation. Without further ado, let’s get started.
How to Become Atmanirbhar?
If you are someone who has lost your job in this chaotic time or someone who really wants to become self-reliant and doesn’t want to continue your 9 to 5 job anymore, here are some business ideas that you must try. We have listed only online business ideas because, in this pandemic, businesses with online presence had performed exceptionally well. So before you start your business, know how businesses will look like after COVID 19.
Create Your Own Blog
There are many people who are pro at something. Some are good at art while some are at sports or travel. Whatever field you think you have authority over, you can start writing about it and publish it by creating your blog.
Once you get some traction and you witness a surge in your website traffic, you can monetize it. Don’t worry, I will tell you how.
For getting started, you have to purchase a domain name and hosting and create a website for your blog. Many people build their website on their own but if you want to develop an attractive and functionally sound website then you must hire a web development company. It will aid you in getting the visitors faster.
Once your website is ready, start writing informative articles that connect to the audience. Share your post on social media platforms and promote it to get new visitors. The more visitors you have the more money you can earn through your blog. You can also hire a Digital marketing company that could help you in ranking your blogs and articles through technical SEOs and other marketing services.
Now you might ask how could more visitors earn me more money?
Well, as your user base grows you can enroll for the Adwords. Google AdWords is an advertisement platform that lets you monetize your blog. It will display advertising on your blog from different advertisers. As any visitor on your blog will click on any of the ads, you get money directly in your account. There is also another way of monetizing your blog in which you collaborate with other businesses who want to advertise their business on your website. They could give you a decided amount of commission on each conversion or click.
Build Your Mobile Application
According to an article on the internet, during the pandemic, the app industry has seen a 177% average increase in daily active users. Especially apps like grocery shopping, video conferencing, OTT platforms like Netflix and Amazon Prime have witnessed a massive jump in users.
According to Statista, the revenue generated from the app is expected to touch $935.2 Billion in 2023. So, there are high chances of getting success in the app business.
If you have an app related idea or you want to build an app for your existing business, then this is the perfect time to take a plunge in app development. There are multiple ways you can monetize your app. You can run mobile ads on your app. You can provide either a free app or a paid app. Free apps are free to download but it implements multiple monetization models. Some of them are in-app purchases, subscription, advertisement, freemium, or affiliate marketing.
Check your smartphone right now, you will find many apps that are free to download but they implement one of the above monetization strategies. You might have used some apps that ask for an upgrade to the premium version for using advanced features. And you have to pay for it.
The other method is to provide a Paid app which charges you an upfront cost at the time of downloading. Everyone might have heard the name of Minecraft. It is a paid game and has earned billions to date through its paid model.
Find a trustable mobile app development company that provides app development services and get your foot in the door of the mobile app business.
“Read Also: How to Monetize Your Mobile App? “
Start Your Online Retail Store
If you think of becoming your own boss, there is hardly any other industry other than Retail industry that provides an unlimited option to start with. The retail industry has the lowest entry barrier. You can start your business by opening a grocery store, sports store, book store, department and convenience store, drug store, clothing, auto parts, and more.
One of the best things about the retail industry is that they can be started easily without having your physical store. All you have to do is register your business locally. Store your inventory in the storeroom or warehouse. You can also use the spare room in your home. Once this is done, you can start creating your online store with platforms like WooCommerce, Shopify, Magento, and others. You can also build your custom store by contacting an eCommerce app development company. Once you get enough customers, you can scale your business by having a brick and mortar store.
Start Software as a Service Product
38% of companies say that they are running their business completely on a SaaS Platform.
SaaS(Software as a Service) is a platform that provides software on a subscription basis. You can register on the platform and use a free trial. If you think the platform is good for you then you can pay for the subscription of the software on a monthly, three months, or yearly basis.
Do you know what is best about SaaS platforms? You can log in and use it from anywhere because it is on the cloud.
Dropbox, Google Apps, Mailchimp, Salesforce, Trello, Slack, are some of the popular examples of SaaS service.
But here we are talking about starting your own SaaS platform. If you have a unique software idea that you think can be the next big thing, you can develop one as your startup.
For example, You can start a software platform for school transportation services. This service allows school authorities to keep an eye on schoolbus caring for their students. It also allows the parents to oversee the location information about their children. Sell this platform on a subscription basis to the school transportation service owners. There are many other ideas you could implement and earn a fortune through it. Again you will need a software development company that has in the past worked on SaaS-based ideas.
Have Your Dropshipping Business
Dropshipping business could be your best bet if you want to become Atmanirbhar. Especially if you don’t have much budget.
Dropshipping is basically an order fulfillment business where you take the order from the customer on a particular product and fulfill the delivery of it. You also pack and label the ordered product. You don’t own any inventory; neither do you have your own warehouse or storeroom.
You might have seen many sellers selling their products through the Amazon seller platform. These are basically dropshipping businesses.
Build an attractive website that lists your products with its price. As soon as the customer places an order, you contact your manufacturer or wholesaler for the product you need. You could purchase some items from Alibaba or Indiamart and list it to your Website or social media. Also, you decide the margin before you sell the product.
One thing you must keep in mind when starting a dropshipping business is that it takes time to get a toehold in the business. Because the margins are not that much.
How to Multiply Your Online Business Growth?
You have started your online business to become Atmanirbhar, and you have attracted few customers as well. Now what? Remember it is not possible to grow your business beyond a certain level until you reach more customers. And that is where the role of marketing comes. Marketing your online business will give your product or service more exposure.
Remember, traditional marketing is not effective nowadays. Many businesses have experienced that in this pandemic. Most offline businesses were forced to close their operation for a few months. So, advertising on billboards and other conventional ways of marketing didn’t work.
What you need is something that flaunts your businesses to where your customers are. And it can only be done by Digital marketing. Digital marketing is a vast area in which multiple marketing practices are carried out for making the business a brand. Designing and content marketing are at the core of digital marketing. Also, the advertisement is done on multiple popular platforms, especially Google Adwords. It allows your business to be present where your potential customers are hanging out.
Social media is also another channel that can be leveraged for having qualified leads for your business. Ensure that you task a proficient digital marketing firm for making your business brand and generate more leads for your business.
The economic crisis across the world will last for the foreseeable future. The situation around jobs is also going to be uncertain, at least for some months. But it is these hard times that brings out something positive to the table. For those who have lost their jobs in this tough situation could start any of the above mentioned businesses. One of the plus points of these businesses is that these businesses are covid proof. They are easy to start and money generating. You just need the support of an experienced software development company.
So, what are you waiting for? Do you have an app idea or any other online business idea that has the potential to become the next big thing? Let’s have a talk.