For individuals with limited capital but a bucket full of enthusiasm for entrepreneurship, here are four easy business ideas for beginner entrepreneurs. We’ve found that a service-oriented business is the best option.
Guest Post by Herbie Bauer, thebusinessstart.net
“Herbie Bauer knows how difficult it can be to start that first business. He spent years at a job he hated before finally taking the plunge and starting an ecommerce dropshipping business. Today, he is thrilled to be working for himself while making enough to not only support his own family but also employ a 2-person staff. Herbie created The Business Start to encourage other business-minded individuals to go after their entrepreneurial dreams.”
Selling a service will help you overcome the need of investing in manufacturing, managing inventory, handling shipping, and other subsequent costs.
Your core focus will be to market your offering and use your skillset for providing value to clients. In this article, Next Level Blogging explores four easy business ideas for you to explore.
1. Freelance Writing
The demand for freelance writers is currently at an all-time high.
From small businesses to corporations, everyone needs writers to meet their growing digital marketing needs. As a writer, your responsibilities can include writing blogs, social media captions, landing pages, research papers, reviews, e-books, and more.
The key to earning well as a writer is to select a niche and develop a portfolio.
Experienced freelance writers can charge upwards of $50/hour. Additionally, all you need for this business is a laptop and a good internet connection.
2. Business Consultant
A business consultant is an expert who works with clients to help them achieve business goals.
Leveraging your work experience and skill set, you can become a consultant in the fields of marketing, business development, sales, product design, legal and more.
As reported by ZipRecruiter, a consultant on average charges $44/hour, but you can set your own rate depending on the scope of the project.
Additionally, you have the freedom to work for multiple clients at once and increase your earning potential.
3. Online Teaching
One does not need to have a degree in education to become a teacher online.
Rather, you require strong control over the subject matter and a good track record in the field of your choosing. For instance, if you plan to become an online guitar tutor online, you’ll need to prove to potential clients that you are an expert at it.
This can be done via creating a website that includes the music you’ve made, your performances, testimonials, practice videos, and more.
As a tutor, you’ll be able to set your own rates and decide the number of students to teach.
4. Cleaning Service
As reported by Business Wire the professional cleaning service market in the US is expected to grow annually by 6% till 2026. This growth has been spurred by people’s increased importance towards cleanliness since the start of the pandemic.
For individuals who don’t mind getting their hands dirty, this can be a lucrative business opportunity fetching $25-$50 an hour.
You could further increase your rates and receive concessions from the government by opting to run your business as a green business, by using eco-friendly products and practices.
Starting Your Business
Regardless of the business idea you choose, here are three common steps to follow for launching your business:
1. Establish an LLC
A limited liability company is the go-to business entity for new entrepreneurs. You can use a formation service to set up an LLC quickly and easily; check out LLC services online.
An LLC will establish your business as a separate legal entity, providing you protection from business-related disputes and debt. Additionally, you’ll become eligible for paying lower taxes and claim business expenses as tax write-offs.
2. Create a Business Plan
If you’re starting a new company, this is a crucial document that outlines all important details of your business such as:
- Long and short-term goals
- Insights about your service
- How you plan to sell it
- Who is your target audience
- Competitor analysis, and more.
In regards to marketing, your business plan should also include building your brand through social media. This will result in increased traffic to your website and eventually a bump to your bottom line.
3. Make a Budget
Even if your business has low overhead costs, Due.com points out that you need to be on top of your income and expenses.
Your budget should cover the amount of capital you’re investing, areas where it will be utilized, and projections for 6 months, 1 year, and 3 years. Keep in mind that if you plan on looking for outside lenders, you’ll need to mind your credit score.
Exploring your credit report from one of the major credit bureaus can help you discover any errors or inquiries you have.
Conclusion – Easy Business Ideas For New Entrepreneurs
In this article, we went over four easy businesses that you can start with minimum investment and from the comfort of your home, and we also included some essential tips for starting a business.
Now it’s time for you to take the leap and start your entrepreneurial journey!
Whether you’ve already started blogging and excited about the possibilities, or you’re still in the planning phase and trying to decide on a niche, Next Level Blogging has a solution for you. Contact us today to learn more! 513-295-0535