If your dream is to start your own business but just can’t seem to find the way to do it.
Become an expert.
There are several small business startup ideas where you can profit from being an expert in a niche market. This is the perfect chance for you to make you hobby into a product and sell it. Here are to name but a few ideas.
Be a consultant / outsourcer
By being a consultant / outsourcer you are most often hired to do a concrete tasks that the customer often do not have the time or the resources to handle them self.
The market for consultants and outsourcers can be very competitive. This is why it really important that you show your moneys worth when hired, this makes it easier for you to return to the customer, some other time when you work is done and for you to get recommended in the customers network.
There are a lot of ways you can make use of you expertise as a consultant / outsourcer. For example if you like to write you can become a ghost writer, if you like to make home pages you can become a web designer and so on.
Make an information product
Your knowledge can be put into an information product in a lot of ways. Here are some examples:
- Online film.
The good thing about information products is that they are relatively hard to copy for your competitors. The excuse most people have for not making an information product is that; “I’m not an expert”. This does not have to be an excuse.
First of all, you expertise is that you know more about the product than the customer.
Second of all, a way to go is by interviewing an expert on the topic and using this in your information product.
Start a blog
If you have an area of expertise that you like to write about, a blog is a way to do this. Here you write posts about the topics you like and get readers by ranking well on keywords related to these topics. You need to get a little knowledge about SEO to succeed by blogging, but you can find a lot of information about this on Google.
There are several ways you can earn money by having a blog. Here are to mention but a few:
- Selling products related to your blog posts.
- Selling “how to”-guides related to your blog posts.
To sum up here are some pros and cons for starting up you business by being an expert:
- You can leverage on things that you already know.
- Low startup costs.
- Your work can most often be done from home.
- You need to make the customers know that you are an expert.
- Low or zero earnings to begin with as you need a customer base.
Buying a Franchise.
Starting a franchise is another fairly easy startup business idea. When franchising, you buy a proven business concept and know how. Therefore you don’t need to think that much about if the business can gain a profit, but more about running it. For theconcept you pay a lump sum and sometimes a percentages of you sales.
Here are some pros and cons for buying a franchise:
- Support from franchiser.
- Brand name.
- Lower Inventory Prices.
- Higher Start-Up Costs.
- Less freedom.
- Royalty Payments.
Reselling a product by drop shipping – an easy to start business idea.
An easy start up business idea is to use drop shipping. This is of cause not an idea parse, but it a good way to get started if you want an ”ordinary” webshop which sells products but lag the start capital.
Drop shipping is a very cheap and easy way to startup an online business, as it requires very little capital because you don’t need to stock your products. Drop shipping also reduces the risk of having to tie money into products that you don’t know will sell or not. Furthermore you don’t need to ship the product yourself every time you get an order.
Be careful though when choosing a drop shipper. You need to depend firmly on the drop shipper as your company’s reputation depends on how the drop shipper acts. As we in drop shipping mostly talk about “known” products you need to consider you positioning marketing carefully, if you choose this method.
- No money tied into stock.
- No shipping.
- Dropper shipper fails to deliver.
- Knowledge about the product.
- Less revenue on each product.
How to get your small business start up ideas?
Now that you have an overview of some areas where you could start your own business, a way to proceed could be to sit down with a pen and paper and brainstorm on all of your areas of expertise. Write down:
- The books you read.
- The sports you do and so on.
When you have done this, see if you can use some of the business ideas mentioned in this post to go whit some of the points in you brainstorm. It won’t hurt if it is something that really interests you.
When you have the idea that you want to base you business up on it’s time to make a business plan. To help you in making a business plan you can use our start up business plan template.