Money-Making Ideas for Your New Online Business: 3 Success Stories

Ready to start making money online but not sure what sort of business to launch?  It’s essential, of course, to do your homework.  A clever idea is not a wealth-generating idea unless there’s a market for your product or service.

But, if you need some inspiration to get you started, here are three recent online business success stories from around the world to demonstrate that the online market remains extremely lucrative no matter where you live or what expertise you have.

1. $4 Million-a-Year Online Bike Parts Company

Jean-Francois Lapointe, of Gatineau, Ontario, Canada took over his father’s retail bike shop in 2006.  So, he was familiar with the business — and the lack of business a bike shop generated in the cold winters.

He didn’t want to repeat his father’s experience of collecting unemployment checks between Christmas and Easter so looked for a way to develop revenue during the typically slow season.

His idea to sell parts online quickly grew into a $4 million-dollar-a-year money machine, according to an October article in the “Canada.com”  For bike shop owner, path to sales is online”

LaPointe’s idea made it possible for him to buy the business from his father in 4 years instead of 10, open a second retail store in the Ottawa area , triple the size of his staff and earn an Entrepreneur of the Year award from eBay, where he sells most of his bike parts online.

2. Online Model Agency Gains MTV as Client, Shows Profit in First Year

Daniel Rolph, of Leiston, England, opened an online casting business in 2009, when he was 20, and today has a business worth £150,000 (about $242,000 U.S.), according to an article posted on the EADT24 website.

At Stomp Models, Rolph manages a talent pool of 600 performers and his clients include MTV

The young entrepreneur told EADT24 that he wasn’t academically inclined in high school and owes his fast success in the online market to three factors: hard work, focus and research.

Rolph recently added a clothes line to his entrepreneurial efforts and now has 300 garments in his collection.

Bulb Light Idea And Money

3. Online Horse Betting

Gambling websites enjoy a great online market, but Congress has passed laws that make entering this market a legal minefield.

But an enterprising mind found a way around the laws:  online horse betting.  Federal laws permit interstate gambling on horse races, according to an article in the “The Courier-Journal.”

Luckity.com relies on horses to determine winning bets, but its market is wider than fans of horse racing.

If you want to bet a lucky number, for example, you don’t win based on the spin of a wheel, but on how well a horse places in a race.  It’s a legal (for now) numbers racket because horses are the gambling device.

The target audience is women older than 35 whose primary gambling interests are slot machines, social networking games and the lottery, Ted Gay, president of Churchill Downs Interactive told Gregory A. Hall, a “Courier-Journal” reporter.

What’s Stopping You?

All three of these stories were reported within a few days of each other, all within the past 6 months.  Despite the economy, despite the crowded Internet market, despite every real and imagined negative, people everywhere, every day are creating wealth online.

So, there’s unlimited opportunity to write your own online business success story.

Start today with these three tips:

1.  Go digital

A product that you can create and distribute online demands much lower start-up costs than physical goods.  And the digital product can serve as a catalyst for your offline venture.

Let’s say you’ve always wanted to open a bakery, but you don’t have the capital.  Try offering online cake decorating classes or publish an ebook of recipes.

Use the sales — and the audience you develop — to help fund your dream bake shop.  Your efforts may impress investors as well as lenders.

2.  Get social

It costs nothing but time to grow your market online.  You don’t need to buy expensive ads or hire a marketing company.

Post detailed profiles of yourself and your company on the major social media sites such as Twitter, Facebook, Google+ and Pinterest.  And get active on them.  Follow people and companies who share common interests and goals.

Thank everyone who follows you and, initially at least, revolve conversations around them, not you.  You can get more mileage — followers and fans — out of a single, heartfelt response to something someone else said than you can with posting 100 links to your website.

3.  Keep going

If your new venture is important to you, you will find the energy you need to go the distance with your business.

Few success stories happen by accident.  Get the advice and support you need to start writing your own success story.

About David Anderson

Meet David Anderson: With over 30 years experience, David has shared with thousands of businesses from start-ups to Enterprise levels his “secret sauce” that has worked so successfully for so many. David's entrepreneurial skills allow him to be a leading business guru, mentor and author, that spans from the UK, Europe, Canada and to the USA. Want to learn how to make money online, visit David at Davidandersonwealth.com. Circle him on G+ 

Comments

  1. Some great success online business story. I think many success comes from trial and error process

  2. Hi,
    Nice Post, The stories are very impressed and creates a desire to workout this ideas. Interesting post and informative too. Thanks for sharing.

    • Many thanks Nicole, always try new ideas and never have any regrets. Learn as much from others as possible and go for it!

      • Thanks for providing such a great article, today internet marketing is increasing day by day every one can think about how to make easy money online from home. thank for sharing

  3. Great stories. Can takes some patience as well to keep marketing what you believe in, even if it doesn’t take off in the beginning.
    It’s easier when you’re passionate about the business or subject. As it seems, in the first example, taking over a family business comes with some passion and almost innate knowledge.

  4. Yes i have learnt one thing in online marketing from last 4 years you should always ready to learn from your mistakes and try to understand readers niche.

  5. Yes, the idea works but you just need to make a small research on niche and then start with a complete plan.

  6. I like tip #2 about if you can’t afford to open a brick and mortar store, go online and offer a (digital version) of your talent or knowledge. The cake decorating class or ebook is clever indeed and many are doing just that with their skills.

    Anything you can do offline that requires special talent, can be packaged and offered up digitally in the form of a class or Kindle book.

    Get creative! and think of something digital you can create to sell.

  7. It is no secret that most of those who try to earn money online get sucked into online marketing, MLM etc and while there are success stories which are great I always wonder why forex trading is not more talked about? Is it because it is much harder to create a success story? In the end it does not matter how you get to where you want to get, but being a forex trader myself I was just wondering what your opinions are?

    • That’s an easy one to answer Apollo, Forex has a very high failure rate. Partly due to that lack of courage to put some money down in the first place, and partly due to the losses incurred by many who are just starting out. It’s so easy to get carried away with Forex and not stick to the plan, then they hit a big loss and “game over” Because of this it is wrongly assumed that it doesn’t work! With anything in life, you have to stick to the plan, as you are an experienced Forex trader I’m sure you would agree :)

  8. These are inspirational Stories. Anyone can learn lot of thing just to these Stories :)

  9. Very inspiring thoughts indeed!! I truly enjoyed learning specific ways to start online business to earn money from online as well. I’m just homeworking with Google blogging platform and after learning all pros and cons of website information I’ll start my professional website for earning purpose. Thanks David for a great compose. :)

  10. Fantastic ideas of money making online in 2013. I really like your post quality that matters a lot to generate the heavy traffic. Thanks for sharing this excellent article with us :)

  11. Wow! I definitely want to be like those guys! Yes, that’s perfectly right! We should really take advantage of social networking sites! Thanks for all the info!

  12. Internet do offer a lot of opportunities for people to start a business and earn a handsome amount of money. We just have to know how to utilize this to our advantage and to know what business will fit us the most.

  13. These are simply the inspiring stories. These people have really made it big with their b-plans. I got a lot of motivation after reading these success stories. I liked the tips you have given towards the end; the need of the hour is to certainly go digital. Thanks for sharing them.

    • You should always have a Plan B Aayna, sometimes your best ideas turn out to be the worst performing and the ones you think are not much good turn out the best !

  14. This is really such a great article to learn something unque on make money. I do appreciate this amazing article & Thanks Admin for sharing this lovely post.

  15. Thank you! This should be shared for everyone to help people save and earn more money specially in this time of our economy.

  16. Really inspiring stories…Pumped up for some hard work..Thanks for sharing this David.

  17. This is such a go-go-get-it type post. It is an era of digital marketing and social media and a whole lot of new avenues have opened up for business opportunities. Thanks for the share.

  18. Thank you I have been looking around for an effective way to earn another or extra for my family. Thank you and I think I will now be able to add some extra in my allowances.

  19. These stories are so inspiring! I wish someday I could share my very own success stories. Thanks a lot for sharing this with us! :) Such an inspiring post!

  20. very good success stories, its inspired the other people like me who are also interested to work online, very good article for money making ideas.

  21. Blogging is definitely one of the ways to make money online but it’s also just a hobby for many people. You can blog for fun or for money but I would suggest to blog for money if you can. To earn handsome money from your website, you have to create good content and market your blog well and you will start generating revenues

  22. This post is really inspiring. There are lots of business ideas that can be turned into successful businesses and with different social media network around us, we can achieve great things.My contribution is this, no matter the business we venture into, we need to persistence, because many people are too much in haste to make money and they may not make money like that. There is no short cut to make money.

  23. Thumbs up for this post! Thanks for sharing it David! Really very nice article for successful business. Moreover i say for taking you’re business to heights we need to have pateince and most importantly need to be mindful in every way.

  24. Technology has a big part in business today it allows to expand the quickly and efficiently namely video conference, social networking, virtual assistance the increase of data processing task can be automated everything, and many other. Now is easier access and wider coverage for your business plans.

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