8  Business Ideas for Creating a Second Income

 Hey, it’s Darius Foroux. So I’ve created something  like 15 digital products in the past five years,and some of them were more successful than the  others. But my online products are generating about half a million dollars a year by now.  And in this video, I want to share 8 proven and profitable ideas for  online businesses with you.I’ll just briefly cover these ideas in case you’re  looking for inspiration for your next business.Because if you’re thinking about start a business,  it’s the perfect time.Okay, so let’s get started.Idea number 1 is self-publishing books. People  have been buying books for hundreds of years. 

So you know it’s a proven industry. And most people  don’t care whether your book is self-published or published by a traditional publisher.  The quality of your book is what matters.One of the most successful books in recent  years is Can’t Hurt Me by David Goggins.It’s a self-published book! So if you’re into  books and writing, this might be your business.I’ve self-published 7 books. It won’t make me  rich, but by now, it’s a stable income stream for me, generating about $1200 in passive income  per month, without spending on ads. But this strategy only becomes sustainable if you have  multiple books.That’s why I would only commit to self-publishing if you’re willing to do it  consistently. 

Ok, idea number 2:

Create An App.Look, you don’t need to create the next big-time  app like Airbnb or Uber. You can create apps for niche markets or start an “app building agency”  where you will build apps for small business.Everyone can build apps these days with  no-code solutions. Look into it if you’re a heavy app user yourself. As you check out  all the ideas in this video, keep in mind  that a business will only succeed if you’re  passionate about the industry and your idea.

Here’s idea number 3: 

Sell Other People’s  Products. Don’t want to build your own products?Then sell existing products, also known as  affiliate marketing. It sometimes gets a bad rep but it’s a solid business model.The best platform  for this strategy is to build a website (or even multiple sites). I’ve created a guide for building  a website without knowing how to code. Check out the link in the description for that guide. Once  you have a website, you can start creating content that attracts people who are interested in the  products you’re offering. And when you send traffic to vendors, you’ll get a commission.  

Alright, here’s idea number 4:

Create An Online Course. I’m a big fan of Peter Drucker’s advice of  focusing on your strengths so you can provide more value. This is about leveraging your knowledge,  experience, and expertise for the benefit of other people. Maybe you’ve been working out for a long  time and you’re ready to become a fitness coach.Or you’ve been teaching history, and now  can teach people how to adapt well to changes based on historical lessons. Remember that  people always want to learn new skills and ideas.The popularity of online courses shows that  there is great demand for these products.And it’s easier than ever to sell a course.  More tips on that in the description as well.

Ok, here’s idea number 5:

Start A Paid Newsletter.  One of the most successful paid newsletter is Ben  Thompson’s “Stratechery.” He popularized this  digital product and he’s now generating millions of dollars. But you and I don’t need to become  the next Ben Thompson. If you can generate a small but loyal following that’s willing to pay,  you can make a good living with a newsletter. In terms of technology, there are many solutions you  can use. I’ve seen people using Substack or Ghost.I’ve been using Convertkit and Kajabi because  they don’t charge you transaction costs, which can save you a lot of money in the long-term.Newsletters are a proven industry for many years,even before the internet. So look into it if  you’re serious about providing weekly insights to readers.

Idea number 6:

Build An Online  Community. Whether there’s a pandemic or not,there are a lot of digital nomads and people who  always work from home. I’m one of those people.And it can be a lonely pursuit. That’s how I  came up with the idea for The Sounding Board—a facilitated community where like-minded  people can join, share their goals, insights,and even test their business ideas before  implementing them. It’s a safe space for anyone in need of motivation and honest insights. But  you can create a community around any topic.I simply use Slack for the community and I’ve  combined it with a member-only newsletter.So it’s a combination of community and private  newsletter.Check this out if you’re a community person.Alright, idea number 7: Start A Coaching  Program. We can keep this one super short. You can honestly do nearly every type of 1-on-1 coaching  over Zoom or Skype. It’s all about what you’re good at. People want to pay for expertise. And  if you can offer that, you can also get paid  for that.

And finally, idea number 8:

Build A  Freelance Practice. I don’t recommend going to Upwork or Fiverr as a freelancer. If you rely on  a third party platform, how can you truly build a long-term relationship with your clients? Yes,  it’s easy to get on those freelancing sites, but you’re not building anything for yourself. Plus,  you’ll be pitching to prospects all the time.You might as well use that time to build  your own site, with your own rules. Yes, it’s harder. But at least you’re the boss! That’s  it! I hope you find some inspiration in these ideas. Keep in mind that your career is long, and  you want to pick something you enjoy doing.So pick something that sounds exciting to you. That’s  the only way to do good work for your customers.Alright, I hope you found this useful. If you  did, feel free to share it with a friend or hit the like button. And finally, check out my free  mini-course called Wealth Strategies. In that course, I’ll show you the strategies I’ve used to  become financially and emotionally independent.