Yes, even the PowerPoint presentation requires outside consulting every now and then—especially if it’s not your forte. I know I would happily outsource the visual layout of my presentation decks for work meetings, investor pitches and lectures. Tobias Schelle of 24Slides is living proof that you can turn your skills at slideshow presentation design into a legit side business idea—and potentially earn up to $20 a slide for your time and talents.
You have a passion, and you’d like to make it your profession. No matter how enthusiastic you are about your small business, though, it won’t be successful unless you have a plan in place for how you’re going to start and run it.
Always start small, meaning start online, and only produce what you are sure you can sell. You can always make more if demand increases. Start by marketing yourself on social media, and start a virtual store front on a site like Etsy or eBay.
You’ll have a lot of competition selling products online, so it’s in your best interest to find the best quality and best prices for the products you sell or materials you use to create your products. Shop around until you find a vendor you want to do business with long-term.
While insurance can reduce this liability somewhat, it’s worth it to consider forming a corporation or limited liability corporation (LLC). These business structures will shield owners from personal liability, but there are more rules and requirements associated with them.
I’ve seen promoters begin in this business by first promoting regular nights at established night clubs, then by working a deal with a club to have their own exclusive night, then eventually launching their own club venue.
But he managed to sell a necklace for $200, and with that $200, Branson finally had the money to call potential advertisers for his fledgling magazine. The rest, as they say, is history. That $200 would eventually grow into the Virgin Group, now a multibillion-dollar brand, operating in industries ranging from aerospace to communications.
Teaching and tutoring English as a second language is a great way to make a solid side business idea work, not to mention opening doors for you to travel the world if you’d like. While full ESL (English as a Second Language) accreditation is recommended, as long as you’re a native speaker, there are people in countries such as Hong Kong or the UAE who are willing to pay upwards of $25/hr for you to teach them English via Skype. Indeed, Learn4Good and Remote.co often have remote english tutoring jobs posted, check back frequently. Then once you land that remote job, you’ll need somewhere more professional than your dining room table to meet with students—check out this post about how to find places to work remotely and you’ll officially graduate this side business idea into a full-time endeavor for yourself.
I love Gene Mahon’s blog about Nantucket. Great photos and well presented. Overtime he has built up a good advertising base. Like any blog it takes time, energy, consistency and patience to build a following. But if you enjoy taking pictures, attending events and meeting people, a local blog can be a lot of fun.
Each of the above businesses has a high profit margin, which is critically important for the success of a small business. The list is less helpful in how it treats the “small” in small business. “Real estate leasing,” for instance, presupposes real-estate ownership and is only an available small business if you have from several hundred thousand to several million dollars to invest in real estate to begin with. Similarly, “Enterprise management,” becomes a business only when there is already an enterprise to manage. Legal services, physician offices and dental offices also all require you to have the educational background and licensure, so they’re not for just anyone looking to start a business. If you’re planning to start a business from the ground up with limited funds, other top 10 lists may be more helpful.
Restaurants have a sky-high failure rate. Steady, loyal patronage may take years to build, and it can be very difficult to rapidly accelerate the process, even with elaborate marketing campaigns. Owners of successful restaurants usually have extensive restaurant experience, work endless hours, and either rely on their large close-knit families for assistance or have a special knack for attracting, retaining, and motivating good kitchen help and waitstaff. On the other hand, to emphasize how hard the business is, many owners of failed restaurants also possess these so-called “success traits.”
As you embark on your new side business or “side hustle,” remember that you are only limited by your own imagination and skillset. Don’t be afraid to be creative, and don’t let anyone tell you that you can’t succeed.
If keeping your home organized comes naturally and you enjoy helping other people, consider becoming a professional organizer as a side business idea. As the need for baby boomers to start downsizing grows, you can use your organizing and decluttering skills to start making an industry standard $50-125 an hour with very little startup costs and some free expert advice from Jen Kilbourne. Believe it or not, pro organizers don’t just work with hoarders. More and more people are hiring professional organizers in order stop wasting time and money due to the stress of everyday disorganization. What’s even better, is that you can take this on as a side business idea during the nights and weekends when your clients will be at home.
If you know how to play an instrument well (particularly the piano or the guitar) and have patience, you’ve got what you need to teach others how to play. Offer lessons in that instrument to others – this can also be an excellent service to barter with, too.
Got a thing for numbers? Plenty of companies need to hire talented contractors who are good at data analysis, making this a potentially lucrative side business idea if you have the right credentials and experience. Platforms like Upwork and Digiserved are but a two of many websites that are great for freelancers with an analytical prowess, looking for extra work as a side business idea around their full-time jobs.
Starting your own business is one of the most powerful ways to take control of your life and make extra money month after month. You can start with just a few hours a week. And best of all, you get to choose your hours, pick projects you find exciting, and meet interesting people.
Decide whether to trademark your name. If your name is very original or creative, you also may want to consider registering it as a trademark. This can distinguish your product or service from those of competitors. Trademarking your company name also can protect you from trademark infringement by other companies.
If you don’t already have an audience, it might be better to self-publish on Amazon first. That way, you can validate your course idea, grow your email list (just make sure to have an email opt-in at the front and back of the book!), and more or less create a rough draft of the course (since it will probably be similar to the book).
Prem Ganapathy, one of India’s richest entrepreneurs, had begun his business by selling idlis and dosas from a hand-cart opposite Vashi station, which he rented for Rs 150 a month. And while the hand-cart has been replaced by a chain of luxury restaurants across the world, it was the reason for his eminent success today. Food trucks offer the same kind of potential to those looking to get into low-cost-high-returns business, considering their growing appeal among the urban masses today. Bengaluru even had an all-women food-truck company, 7 Sin, which has been doing exceedingly well since. As for the initial costs, the only thing that those looking into this have to wager on, is to rent a sturdy food-truck for a nominal fee and to pay the salary of a driver, who is required to drive it through all the popular hot-spots in the respective cities.
This method of marketing your business is good (maybe for a little while longer) but not that popular anymore since the internet, however it is still efficient, particularly with the older generation who prefers using the Yellow pages instead of the internet. Make certain you speak with an agent and ask for offers such as a two for one cost where you can promote under both landscaping and lawn care or a little freebie included somewhere such as a complementary pressure cleaning advertisement or text ad. Most of these service companies are hurting, for business with the increase of the Internet, so use that to your advantage. The main issue with Yellow page ads is that every company in your area has one, so ensure that yours stands apart. Hand over a little more cash for a slightly larger advertisement with your site, contact number, services, and anything that sets you apart or that will help you stick out and it will pay huge dividends. Make sure that it is interesting, to the point, which it lets individuals understand what they are getting the moment they see it. These ads can get a bit costly, particularly if you are in a huge city given that rates is based upon distribution, but most of the times is worth the investment if you are wanting to grow your business.
Service businesses typically require less capital to start and operate than product businesses, because you don’t have to finance inventory. Often, you can ask customers for immediate payment by credit or debit card upon completion of the work, so you don’t have to get involved in extending credit.
Sometimes I’d do a little touchup work, such as a new wood trim or a coat of paint, occasionally I would contract out an engine repair, and always I would clean them the boats. Like any trading business, you need to find out what sells easily and at what price, and what you want to stay away from. Brand name outboards, specifically Boston Whalers, sold well for me. Sailboats, on the other hand, took forever to move.