Whether you’re looking for something to do at home, helping others or being outdoors, options abound. There are thousands of business ideas and among those examples, we can recommend you
Become a home chef
For those who are passionate about cooking, healthy food and dishes for coeliacs, the opportunity is on the table. This venture consists of offering both healthy and gluten-free menus to those who do not like to cook or do not have the time. To do this, you need to organize your space, have several channels of contact, a way to transport the dishes and a vocation for giving wellbeing to others.
Demonstrate your coaching skills
Another business idea that only requires your innate or acquired psychological skills is that of being a personal coach. In many cases there is no professional qualification, it covers aspects such as personal growth, finance, decision making, problem solving and more. If you have the gift of motivating people to act to achieve their goals, all you have to do is promote yourself on various offline and online platforms to start getting clients.
Serving the Elderly
Those who like to take care of older people have different options to extend their horizons. The first idea involves home care for their personal needs. Another opportunity is to start a recreational center that includes various entertainment and knowledge activities. Finally, you can also opt for an errand service for those who are unable to get around.
Express your passion for pets
Lovers of dogs, cats, birds and the large number of domestic animals now have more possibilities than ever to undertake. Beyond the classic dog walking service, owners always require dedicated people to take care of their pets when they go on a trip. Other important initiatives are veterinary services, training, gourmet food and even clothing for the most pampered.
Make others happy by organizing weddings
Among the many business ideas to get ahead, event management should always be on your list. If you think you have what it takes to deal with others, have the touch to decorate, patience to solve problems, lots of creativity and contacts that can help you, don’t miss the opportunity to exploit your skills.
Take advantage of the bicycle boom
The trend towards health, alternative transport and care for the environment continues to increase. A good business is the repair of these vehicles, which are in great demand. To do this, you need the indispensable tools, knowledge about the brands and to demonstrate that love of two-wheeled sport.
The well-known e-commerce
It is well known that there are many initiatives on the Internet that are easy to implement, inexpensive and with a growing market. You can sell used clothes, start a sales business with dropshipping, monetize a blog, use affiliate marketing, offer courses or ebooks, among many other options.
Discover how to be a mystery customer
Perhaps less well known, many companies are looking for people to study the competition on the sly. In essence, you have to test products or services covertly and submit a final report to your employers. If you think you have what it takes for this activity, you don’t need any special skills or knowledge.
Among the many simple and profitable business ideas, here are some that are within your reach.
As with all life decisions, some reasons are more sensible than others. The ones I am going to present to you seem reasonable, but just in case I will also comment on reasons that are not so reasonable. My goal is for you to reflect on your motivations with 10 reasons to have your own business.
1- Living from your passion
If the jobs you’ve had up to now haven’t been passionate enough, starting a business in an area you like very much can be a powerful motivation for entrepreneurship. Passion is not enough (you also need experience in the sector), but it allows you to enjoy your work every day, and as our work activity occupies most of our days, it is appreciated.
2- Being your own boss
Be careful not to get confused. If you think that by setting up a company you’re going to stop being accountable you’re very much mistaken. Your clients are going to be just as demanding or more demanding than the bosses you’ve had so far. However, when you start a business you are your own boss insofar as you are ultimately responsible, you make your decisions and organize the work as you see fit. This is one of the best reasons to start a business, as you will be told by all the people who have their own business.
3- Overcoming challenges
Entrepreneurship is a much more uncertain activity than having a paid job. You don’t even know what you’re going to earn next month, or if what you’re doing now is going to work out or not. The customer is not a boss who tells you what you do well or badly, only buys you or not, and you have to understand why. You have to take risks, make decisions, rectify, in other words: overcome challenges. Depending on your personality, this can be a reason not to consider setting up a business or a great motivation to do so. I assure you that the achievements you make on your own are much more satisfying than the pats on the back from your boss.
4- Learn a lot
When you set up a business, you force yourself to learn things you wouldn’t have imagined. On the one hand, you have to take care of almost everything, from the blandest logistics to the big business decisions. You learn about human resources, negotiating with suppliers, fiscal, legal, accounting aspects, etc. And of course if you want to succeed you will have to acquire a much deeper insight into all aspects of your sector or market niche. So if you like to learn new things, here are some of the best reasons to start a business.
5- Every day is different
Unlike a salaried job, where the tasks are usually quite stable, and often monotonous, as an entrepreneur you will have to do everything. In addition, you will always have to adapt to market developments. In a first phase you will try out various strategies until you find positive results. That is to say, to achieve sales and satisfied customers. Then, as your consumers’ habits change and your competitors take action, you will have to change again, and so on. It is very difficult to get bored.
6- It can be very profitable
You might be surprised to see me mentioning the economic motive so far down in the article. For most people the main reason for starting a business is to make money. I can’t deny that it’s important (even essential) that the business be profitable, but in my opinion making money is not such an important motivation for entrepreneurship. Mainly because income comes when you are passionate, work and correct, that is after much effort and struggle. Starting a business thinking too much about making money is often counterproductive because it makes you make short-term decisions, instead of settling your project. Even so, getting rich is one of the main reasons to start a business and it should be highlighted.
7- Meet many interesting people
If you want to have a chance of success you’ll have to move and make contacts. Some salaried jobs also allow you to see a lot of people (especially in the commercial area), but when you undertake you get to know very different and in many cases very interesting individuals. They are not only your customers, but also your suppliers, your competitors, entrepreneurs from other sectors, people from public administrations, etc.
8- Creativity in power
Do you feel that you are wasting your creativity in your current job? If you undertake, you will have no limits in this aspect, or rather, it will be you who will set the limits to your innovation. As I told you before, until you get what the client likes, you will have to try many strategies, which will depend on your imagination. As you will never have a perfect answer to your clients’ needs, you will always be able to be more creative. In addition, you can orient your business towards sides that require more creativity on your part.
9- The administrative barriers are not so great
Compared to the challenge of convincing a client to buy your value proposition, the administrative obstacles to undertake in Spain are nothing. It is true that things could be a lot simpler, and above all cheaper, but deep down, administrative barriers are not a good reason to stop entrepreneurship.
10- Crises can be opportunities
I do not want to minimise the impact of the crisis, especially on the shrinking domestic market and the difficulties in finding funding. However, there are opportunities to set up a business in a time like the one we have recently experienced, and which is still partially noticeable. Customers are willing to try new alternatives (especially if they are cheaper), there is a lot of skilled labor available, you can buy many second-hand things at a good price, and many other reasons.
Wrong reasons to undertake
In conclusion, I would like to list some reasons that I do not think are very good.
To create your own work when you can’t find one. Starting from scratch is a totally valid option, as long as it is not a decision dictated solely by need. Unfortunately, in recent times many people have used their last savings to start a business without having any vocation or interest. They did so because they saw no alternative, but in my opinion it was too risky a strategy.
Being bored at work or getting along with colleagues and needing a change. It is one thing to start a business from motivation, that is, to turn your passion into your business project. It’s quite another to start up as a reaction to personal or professional dissatisfaction. Don’t start a business just because you don’t like your boss. If you reason for discarding you are not going anywhere.
Become rich. Obviously, you are not going to start a business to avoid making a living, but don’t think that most entrepreneurs get rich. In general, small business owners end up with incomes very similar to those of salaried employees. Some do badly, others do very well, but hardly anyone gets very rich. Your main financial motivation should be to be able to live off your passion, not to be the new Zuckerberg.
Many of us who provide services, whether as freelancers or companies are lucky enough not to have large fixed costs. We don’t need machinery, nor do we need to rent large ships or buy stock, we don’t have dozens of payrolls to pay or huge loans to repay.
But that doesn’t mean we shouldn’t reinvest in your small business
There are 3 big areas where you cannot afford, however small, to allocate a part of your budget: training, tools and advertising.
It’s not worth any excuse, it will be a bigger or more austere investment, you can invest money or time (the latter only when you are starting and have no income) but you must invest.
Where to start?
If at the beginning of the year you prepared a budget for the whole year, it’s time to review it (and if you didn’t, it’s the ideal time to do it), today, it doesn’t matter if it’s March or October… don’t wait until the end of the year or semester because you won’t do it.
Of the total sales and turnover that you have as a goal for the next 12 months, you will have to assign a percentage to each of the items we have mentioned. The amount will depend on your current situation, and the weight of each of the areas you must establish according to your objectives.
We’ve already discussed this on occasion. Everyone, whether we are employed or self-employed, whether we are employees or managers, must be continuously trained.
But if we also manage our own company, not only do we have to worry about improving our technical knowledge of what we do, but it is also essential to learn how to be an entrepreneur: advertising, marketing and sales, time and resource management, productivity, customer service…
While you don’t grow enough to be able to hire someone specialized in each of the areas and you have to handle everything yourself, you need to learn how to do it best.
But watch out, that today there is so much online training, so many courses at our disposal (and people who know how to sell so well), that sometimes we go to the other extreme, and we sign up for all the available courses we find, and half of them are left halfway through due to lack of time and the ones we manage to finish we do not apply to our company because before doing so we are already starting another course.
Think well about what you want to train, decide on a budget limit and some areas that interest you, and get trained in that.
Don’t be blinded by offers or promotions that will not be repeated and if you don’t do it now you won’t be able to. Look for what really fits what you need to learn at that moment.
If you find it difficult to do it for a whole year, because there are courses that are prepared with less time or anticipation, do it every six months.
Half of the freelancers I work with have their billing in an excel or word, use an unofficial version of office that gives them errors and is hung up every few months and use a free Dropbox that they have to empty because it reaches its capacity limit.
It is true that for a long time some applications as common as the Microsoft Office suite or Adobe were prohibitive for small professionals.
But with the move to pay-per-subscription models, most of the tools and utilities we may need in our day-to-day lives have become totally affordable.
For $7 a month you can have full Office, for $2 a month Google Drive with 100GB of storage, online billing systems, CRM for customer management, Adobe Suite applications… practically all the “usual” tools that can save you precious time from your day to day are now available for totally affordable prices and for temporary subscriptions.
But if you have billing, for example, online in a specific application, you will also have immediate access to your statistics. Who are your best customers and what percentage of total billing do they represent? What products or services have sold the most in the last quarter? What have you billed in the last month compared to the previous month or the same month last year? And all this without having to assemble your excel sheets and review the calculations every two or three months.
A CRM will allow you to follow up on your customers and contacts. Who asked you for information on what subject? How did you stay with that customer who was interested? Did I tell him I would call him after the summer? Where did I write down the phone number of… ?
Time, time and more time that we spend sometimes going through emails and files looking for information and contact details.
Advertising and marketing.
You go to the top and work and everything comes to you from references, contacts, acquaintances or former customers.
Why invest in advertising? If you didn’t read it, take a look at the article Why do I have to do marketing if I don’t want/can’t serve more customers?
Sometimes it’s not about getting MORE customers, but BETTER customers, being able to position your brand, your services or yourself as a reference in the sector, and thus be able to charge more for your services, working less, with less customers, but working better, both in quality of work and in the benefits it brings you.
And that, among other things, is achieved with advertising and marketing.
Google Adwords, Facebook Ads, Email Marketing, Content Creation, Inbound Marketing, advertising in portals of the sector, sponsorship agreements…
How lucky we are now to have so many tools with such an incredible reach and at such a low price!
Do you know that with Google Adwords you decide exactly what you want to spend every day and you can modify or cancel it at any time?
Did you know that with Facebook Ads you can segment your ad so that it goes out exclusively to women between 30 and 40 who have recently become mothers and who live less than 30km from Barcelona?
Did you know that email marketing has nothing to do with the typical “newsletters” of a few years ago?
I never cease to be surprised when talking to a new client who asks me what is this Adwords thing or who thinks that “going out on Facebook” is having a page created.
It’s not about knowing how it works or how to create and manage a campaign, I understand that it’s not their thing and they don’t have to know the details. But someone who has their own business should know what tools they have to make it grow. At least know what they are and what they are for.
But all this needs you to dedicate time, especially at the beginning when it is almost the only thing you have, or resources, and as you grow you can afford to hire professionals to help you.
And in either case it is an investment, which makes you lazy, which is never the right time, but it is essential if you want your business to not only “go to work” and survive, if you do not want to work a thousand hours and end up burning out, or let your results go to the mercy of your current customers or contacts.
Continuing the last post: How to start your own business from scratch and not fail
Part 4. Get Funding
Talk to your bank. Talk to a bank with which you already have a positive relationship. Ask about what types of new business loans they offer and how they can benefit your business. By using a bank you already know, the bank will have easy access to financial records and be more confident in investing with you.
Get local investors
If bank loans are not enough, look for local investors. There may be a local tycoon or other equally wealthy person who would have an interest in your success. Research people in your area who may have the funds and motivation to help you.
Look for venture capitalists or angel investors. Angels are high-net-worth individuals and venture capitalists are companies. They both finance a promising high-risk company through an ownership interest (partnership) and often bring their experience, management skills, and contacts to the table. They usually work through a network or partnership.
Get close to friends and family
People who have known you for a long time are more likely to have faith in your ability and intentions. These are also the people who are likely to support you if things get difficult in the early stages of your business or you need to raise more money. However, make it clear that the money is intended as venture capital and may be lost entirely or may not be returned to you in the short term.
Use a multitude of funds
If you still can’t get enough funding, use websites to raise the money you need to get started. These funding sources have several advantages: you won’t have to pay interest on the money you receive (since it’s money that is used to provide real products or services) and this will help you not only to measure your interest in what you have to offer, but also to help you build a customer base. You can start your business with hundreds or thousands of customers who are already lined up and ready to tell others about what you have to offer.
Determine the legal structure
Decide which form of ownership is best for you: a sole proprietorship, a partnership, a limited liability company, a corporation, an S-Corporation, a nonprofit organization, or a cooperative.
Register your business name
If your proposed business name is available, register it with the “county clerk”, trademark on the state and federal levels and secure a domain name.
Take advantage of free resources
Many free resources can offer advice, training and assistance. Here is a list of over 300 great free things for entrepreneurs and startups.
Most likely your original idea will have to be modified. Being able to bounce back and adapt to create what customers want will determine whether your business will fail or succeed.
Regardless of the source of your fundraising, be sure to provide key strategic and operational accounting information to your funders on a regular basis, usually twice a year. It’s a good idea to organize a board meeting if everyone can physically attend. If not, you can do so via teleconference.
Part 5. Build infrastructure
Get an office
If you are not making any deposits, then don’t worry about an office or warehouse yet.
You will need a space from which to run your business later. This can be a home office if you require little space and have no employees, or it can require a whole workshop or warehouse. Look at renting in a low-cost neighborhood or business incubator instead of a fancy address. Some universities leave space available for low-rent new business ventures based on an innovative scientific idea. It depends on what you do and how big your business is going to be. Make sure the space is coded and legal for how you intend to use it and within your budget.
Purchase of equipment
Buy all the things you need to start working. This can mean mechanical equipment, computers, telephone, or supply ship. It all depends on what you are doing. Try to buy from commercial supply companies as they will have significant discounts. If you are short on capital, leasing or renting is an attractive option so you don’t block your funds.
Create a system of records
From doing taxes to finding out why she mysteriously misplaced $2,000 to searching through customer records to find out if Mrs. Jones actually paid her bill, you’re going to want a good record system to help your business run smoothly and efficiently. Invest in filing cabinets, labels and digital records software to keep you organized and on top of things.
Part 6. Build a Customer Base
Use Marketing and Public Relations
You want to reach potential customers in ways that make them want to use your business. This is especially important when you are just starting out, before you have established a regular customer base.
Advertise in a way that captures customers’ attention to the minimum and hopefully goes beyond capturing their imagination. Be creative and appeal to the right aspects of the customers you want to use your business for.
Offer free samples of what you do to the right people, in order to get people to say good things about what you have to offer. Word of mouth (i.e. good public relations) is the best way to attract new customers. If you get bad reviews or negative comments, respond positively and fix the problem. People will be much less critical about mistakes if they are willing to fix them.
Use a little network building
Go to conferences, charity galas, meetings with complementary companies and anywhere your clients are likely to be highly concentrated. In other words, go out in public and interact with people. Use your friends’ connections to meet people who may be able to help you. This type of interaction is very important for starting a business. It can’t exist in a vacuum after all.
Have great customer service skills
to be good at interacting with people. Practice reading between the lines of what people are saying. Learn to meet needs you didn’t know you had. Find out how to make people happy. Be charming. Most importantly, be humble. The customer may not always be fair, but you must be able to let them think they are.
Deliver the product or service quickly
Your business is a work in progress and if you launch your product or service quickly, you will be able to create a community of customers who can provide valuable information that can help you improve your offerings. In the words of LinkedIn founder Reid Hoffman, “If you’re not embarrassed by your first product release, you’ve released it too late
Have a website
The world has moved online. Any company that wants to survive the next ten years is going to have a website. People will use it to contact you, find your location, know your hours of operation, ask you questions, make suggestions, and maybe even buy your products or services. By having a website and services that are available through the internet, you will be able to expand your service area throughout the region, or even the world.
Have a logo
One of the most common tasks when starting a new website, a blog or a common site, is to create a logo for the site. Depending on your artistic talent, creating logos may be something you can do in your dream or it may be something that gives you insomnia.
Have a blog all the time
Don’t be ashamed to share your triumphs and struggles. Customers will enjoy your honesty.
Find the right employees
Hire the right people for the job. Even if it is your business, you will not be trained in every task, which is why you need qualified people to complete the job.
Hire a copywriter
Unless you’re an excellent writer, hire a copywriter to write highly targeted client emails. A copywriter will also be useful for press releases and other pieces to spread brand awareness or provide business updates.
Don’t be afraid of the competition
Don’t badmouth the competition when talking to investors or customers. There is no need to become an object of pity. Indeed, talking this way could even point customers to a competitor who may offer a product or service you do not have. Remember, when there is competition, there is a market for your business. Use that knowledge as inspiration to beat a rival.
Benefit from word-of-mouth
There’s nothing better than good old-fashioned word-of-mouth marketing. Let your friends, family and influential people in your field spread the word about your product or service.
Say goodbye to your social life
You’re going to spend a lot of time on business. Even if you plan to go out at night, you can leave early because a light bulb is out. Let’s hope the people closest to you in your life will understand.
Part 7. Get paid
Don’t let other people take advantage of you. Demand payment within a specific period of time (whatever is appropriate for what you do). Send people a bill as soon as possible. If someone is late with a payment, talk to them. If you ignore these problems in hopes that they will go away, you will find yourself working for free and your business will fail.
Accept credit cards
Very few people pay for products or services with cash. It will be much easier for your business, as well as for record keeping and accounting, if you accept credit and debit cards. If you want to save yourself ridiculous fees or keep your business more mobile, consider using the Square. This device connects to a smartphone or tablet and allows you to swipe the client’s card.
Set up an online system
If you plan to have products for sale online, you will need to make sure you establish an agreement on the online payment system. Services like PayPal make this incredibly easy. Research to find out which method is best for you. However, make sure that any system you use is secure. You don’t want your information or customer information to be hacked or exploited.
Make sure customers pay their bills
Always be sure to receive payment for your products or services. Instead of being taken advantage of, set a deadline for payment. It would also be nice to accept credit cards and have an online payment system.
Always keep in mind that success does not happen overnight. It’s going to take some time before you realize a benefit.
Starting your own business is not for the faint of heart. It’s stressful and demands their full attention. On the positive side, it can also be a rewarding experience professionally and personally.
Here are some helpful tips on how to make your business come alive – start your own business right now, don’t waste your time!
Here are the practical steps for starting a business.
Part 1. I Have an Idea for Starting a Business
Arriving with a business idea
You’ll have an idea for a business before you do anything.
You can do market research to get a clear picture. This should be something you are passionate about as your new business will consume a great deal of your time and money.
Come up with profitable business ideas by identifying things that people need and are willing to pay for, that are not provided in your area, or that you can provide better than anyone else.
If you have yet to decide exactly what you want to do with your business, brainstorm first. This might mean writing down some ideas on paper, talking to a friend or two about your ambitions and interests, or simply searching the Internet for ideas.
The “do what you like” tips are given for a reason, of course – it is easier to start a business if you are passionate (and informed) about what you are offering. So, if you have a passion for model trains, don’t force yourself to start a golf equipment store just because you think it will make more money!
After brainstorming, you should do some research online to see what kinds of companies already exist, and may potentially be in the same niche as the one you are considering. This can open your eyes to potential competitors, or even spaces where the market is more saturated than expected.
After completing your research, narrow down your options and try to make a final decision for your business. Again, you don’t have to choose based solely on the products or services you plan to offer – you can have a niche based on location, price, etc., or a combination of things.
Share your business ideas with friends and family
Your friends and loved ones will probably be more honest with you about your business. Don’t hesitate to ask for their advice and suggestions.
Consider if it’s possible
Before going too far, think about how your idea is plausible. Is it something that people will pay for? Will it generate enough benefits to be worth the time to do it? You’ll also need to be sure that it’s possible to put it into action. While it would be great to have a computer that magically makes food appear out of thin air, this is simply impossible.
Make sure it’s unique
Whatever your idea is, make sure it’s as unique as possible. This will help you eliminate or significantly combat the competition, making your business more successful and profitable. Simply making a small change to an existing product (making blue wines or something similar) is usually not enough to build a profitable business, so keep thinking!
Select a business name for your company
Decide on the name that best suits your business. Then, check if the domain name is available online, as well as if it is free to use in your county, state, and country.
Part 2. Make a Business Plan
Determine the cost of the operation
You will need a solid business plan to present to any investor and the best place to start would be to determine the cost of basic operations. This will outline and help you determine how much money you need to manufacture the product or provide the service you intend to offer or produce. This includes production costs, shipping costs, taxes, salaries, rental of work space, etc.
Knowing the cost of operations will be vital in determining whether your business will be profitable, as you will need to do more than just be at the baseline in order to stay in business.
Determine Market Potential
Be realistic. How many people will realistically use your business? How many will pay to use your services? If the number is too small compared to how much it will cost you to stay in business, then you should reconsider or change your plans.
Determine the obstacles
You will need to plan ahead for all the problems you may encounter in running a profitable business.
Evaluate your competition; if your market share or product offering is too strong and stable, then you will have a very difficult time entering the market. No one is going to want to buy an equally priced or more expensive version of a perfectly good product or service that already exists.
You will also need to study the related laws and regulations, especially regarding taxes. You should ask your local state government office as well as obtaining information from the IRS.
Make sure there are no prohibitive costs, such as equipment that is too expensive to make the business profitable. For example, cars didn’t take off until Ford found a way to make them cheap by creating more efficient equipment.
Part 3. Make a Marketing Plan
Write a budget
Once you have a general idea of how much money you have to work with, write a marketing budget that indicates how much money you have available to spend on advertising.
Create ideas that fit your budget
Once you know how much money you have, research the costs of different types of marketing and come up with ideas that fit into these methods and are effective for the price range. If you have a lot of money to spend on marketing, for example, you might consider filming a commercial. If you have almost nothing, you will want to think of ways to effectively use social media, which are very effective for requiring little money.
Distribution and location marketing plan
Once you know what kind of marketing you intend to do, think about the most effective places to advertise and what time of day, month or year they will work best to reach your target market.
You will want to make sure you are using marketing that is appropriate for the type of people you expect to be interested in your products or services. There is a small point in using social media, for example, advertising a cruise line for people over 55. In the meantime, if you are advertising for your new dance club, a printed newspaper is probably not going to be your best bet. It also doesn’t make sense to advertise a business available only in Chicago to people in Seattle, so consider the physical location.
If your services are seasonal you will have to consider what is the best time of year for advertising. In addition, TV ads will have to be scheduled so that the right demographics are watching when they air.