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.
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I’ve already mentioned that Flexport or another freight forwarder will do most of the work of shipping and customs for you. They’re generally good enough that I don’t need to go into much more detail. Except to talk about shipping options.
It gives you a place to deliver your content, allows your community members to interact with each other, allows you to limit access to qualified members, and also allows you to moderate and control the group.
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Lots of businesses try to save money by hiring people as independent contractors rather than full-time employees. The IRS will impose large penalties on businesses that do not withhold and pay taxes for workers that it considers full-time employees rather than independent contractors. Here are some things the IRS will look at to determine whether a worker is an independent contractor or a full-time employee:
At one point I tried to retail new Polish bicycles out of my house. They were decent bikes at a great price, but no matter how aggressively I advertised them or how low I went on price, I just couldn’t capture the sales levels that the local bicycle shops were enjoying.
The reason this is possible is that there has never been a better time in history to be an entrepreneur. We firmly believe that anyone can start a business today, as long as you have an idea and the hustle.
As long as there is still the written word, there will always be editors. Freelance editing and proofreading not only pays a decent hourly wage, it also gives you the chance to read about potentially interesting topics too. What’s more, pursuing freelance writing & editing as a business idea can afford you a lifestyle that lets you travel the world as a digital nomad. You can find lots of job postings from companies and individuals in need of writing, proofreading, and editing services on Upwork, which makes this a high-demand side business idea.
It’s too late to invent the smartphone, but there are hundreds of millions of them out there and – as you probably already know – they frequently need repair. Other companies are already doing this, but Page believes there’s room for an entrepreneur who can offer local customers 24-hour service and one-day shipping to others.
Remember my earlier post about breakfast burritos? Making meals in advance is a great way to save money for yourself – but you can often prepare these for others as well and sell them for a markup. Prepare eight casseroles, for example, then sell six of them to cover your costs, and you’ve got two free dinners for your family (and maybe a bit more). You can grow this by taking orders from others and finding out what they like.
Toshniwal has been in your shoes. About six years ago, at 26, he was unhappy in his job as an engineer at Dell. At the same time, he and a friend, then-Yahoo-engineer Sumit Mehra, were building Facebook apps for fun in their spare time. When smartphone technology came along, the pair quit their jobs to launch Y Media Labs, which now develops mobile apps for PayPal, eBay, Bank of America, Symantec, and many others. The company has grown from the two founders to 141 employees, and Toshniwal expects to hire about 80 more staffers by the end of the year.
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Contrary to popular wisdom, real estate prices don’t always go up and catching the trends can tremendously amplify your success in this market. One of my business school classmates caught the trend just right in the Houston commercial real estate market, and then did the same in Boston. Another business school classmate took advantage of the huge 2008 real estate sell-off by scooping up thousands of homes in particularly hard-hit areas like Las Vegas with his hedge fund. The safest way to buy real estate is to make sure that your cash flows from current rents will justify the minimum return you need, then you can look at any appreciation as pure gravy!
Event managers barely spend any time in office. They are best at networking and managing, checking out the hundreds of venues, meeting sponsors, scheduling performances, and basically being on the field 24/7. On that basis, their demand revolves around their brand image and popularity, which can be built with a good online marketing strategy. However, the overall startup cost for building this brand is minimal, if at all priced.
Like birthdays, marriages happen all the time. Which means you can treat weddings as a recurring fountain of business opportunities: wedding dresses and coats, jewelers, food caterers, venue providers, photographers and videographers, performers, flower shops, travel agencies, souvenir crafts, and a host of other ventures. Now imagine if you can form a network of these service providers so you can offer engaged couples a range of hassle-free wedding packages as a turnkey business idea. The process is certainly fun (and time-consuming), but as a side business idea, the pay can be pretty great.
Bob’s Rent-A-Bike was my first business which I started when I was 19 years old. For this business, you can set up service stations or other local business as your agents, giving them a percentage of the rental fees. Vacation areas and being near bike trails are great places for bike rentals.
For many people, the idea of getting paid to shop is a dream come true. There are many mystery shopping scams to beware of, however. Never accept a gig that requires an upfront fee—that’s a good sign it’s not legit. According to the website Scambusters, legitimate mystery shopping can pay anywhere from $8 per job up to $50 to $100 per job.
I was actually shocked when I saw a gig on Fiverr where somebody will do something crazy and video himself and send the video to the customer. What?!?! I never thought doing something crazy can be monetized. Only on fiverr. lol.
I love wine bars! There is even a successful wine bar in the small village on Cape Cod where my summer house is. How did it become successful? The owners found a location near the center of the village but at a low rent. They started with a very limited food menu but eventually expanded it to become a full-service restaurant. They also offer live music on most nights. Beware that many customers expect truly exceptional wines at a wine bar.
All you need is one dog to walk and you’ve broken into this business. And at the same time, I have seen people build this into a big business, including to the point where they have to hire additional dog walkers. Dogs need to be walked regularly—just ask them! Woof! Woof! Yes! So, you’re guaranteed a steady income and a good business model!
From there, you need to learn which tools, resources, and feedback communities you can use to accelerate the pace at which you’re able to launch. Check out these 101 essential tools and resources I use to launch profitable side hustle businesses.
A few years ago, I overheard a conversation in a gym about a fellow who was planning on starting an Irish pub, of which there are close to million (well almost a million) in Boston, but then changed his mind and opened a pub focusing on craft beers. It was wildly successful! In addition to being a unique idea at the time, he also chose an excellent location and developed a solid food menu. Unless your overhead is extremely low, you are probably going to need to serve food to make a go of this business, so yes you can be extremely successful–but it is no small undertaking.
Amazon has a secret formula that determines what shows up when people search for something. It’s secret but we can take a guess at how logically it could work. It is known as the Amazon Search algorithm.
Make sure your strategy is measurable. You need to have a method in place for measuring the tangible results of your marketing efforts. We’re not just talking about the number of clicks, views or likes you’re getting — if your strategy isn’t generating sales, it’s all for nothing.
Ask the bank if you will need to present certain documentation to open the account, such as your certificate of formation or business license. Banks in Texas may vary in terms of what they require for opening an account.
This is a perfect side business for people who love antiquing. Take worn-out antiques home with you, invest the time and care needed to transform those old items into something amazing, then resell them at a profit.
This was very helpful. 2 of my most recent ideas are in the top 3. I ‘ve let fear and just being overwhelmed keep me stagnant and now I am just at a point where I am ready to take action. I know I will be successful!
Offer free samples of what you do to the right people, in order to get people saying good things about what you have to offer. Word of mouth (i.e. good PR) is the best way to attract new customers. If you get bad reviews or negative feedback, respond positively and fix the problem. People will be much less judgmental about mistakes if you’re willing to fix them.
It seems that just about every business I’ve been involved in hires home-based editors, who work on a freelance basis and set their own hours. Generally, this work falls into three categories: 1) Developmental editing or making highly substantive changes; 2) Copy editing or wording and grammar improvements; 3) Proof reading. Many editors specialize in one aspect of editing, others cover them all. You may further specialize such as in technical document editing.