I've been in search of the perfect online or offline business to make some extra cash. I'm thinking something easy that will take up minimal time (and energy). After all, if it's too hard, then why would anyone bother doing them at all?! As luck would have it, my friend J.L. has been searching for an answer as well! She wants a business she can do part-time while going back to school full-time. So far, her research hasn't turned up anything particularly appealing...yet.
While we're on the topic of starting a new business, let me introduce you to one of my favorite resources when researching potential ways to make money - The Top Ten List. It may be old news by now, but the list still holds true today! And since this article is all about finding a business to start that won't require much effort, here's a quick rundown of how to find your next big thing using these ten steps.
1) Write down everything you know about your industry. This includes any specific products/services that already exist within it, plus any other information that could help you come up with a new product or service. For example, if you own a bakery, try writing out possible new types of breads and pastries. If you work at a grocery store, consider different kinds of produce items that might sell better than others. Once you get started, keep adding until you reach 100!
2) Look through every single resource available online (including Google searches), and see whether there are any ideas you haven't thought of yet. There's always more to learn, so don't give up just because you didn't think of it yourself!
3) Get out into the real world and observe people around you. Think about their needs and habits, and figure out where they might need a solution. Remember, the answers aren't always found right away -- sometimes the solutions take longer to arrive. But once you discover them, you'll probably feel like you were meant to meet those customers somewhere along the way.
4) Use your findings to create a simple prototype. You can use a tool such as PowerPoint or Keynote to quickly design a screen shot showing exactly what you envision your final product will look like. Then test it out on friends and family members first before deciding whether to move forward with the project.
5) Test your prototype on other markets besides yours. Is there another market where people would also benefit from your product/service? Try creating a landing page or two specifically targeted towards that audience.
6) Take note of feedback from your testing, and tweak accordingly. Make changes based on what works and doesn't work in order to improve your chances of success.
7) Be patient. Sometimes it takes months, even years, to develop a winning formula. When things seem to be moving slowly, remember that you never really know what kind of impact you're making behind the scenes. Even if nothing seems to change, don't forget that someone else noticed you and decided to act upon it. That's usually enough reason to continue pushing ahead.
8) Don't quit after failing multiple times. Learn from each mistake and move on without dwelling on it. As long as you remain positive and optimistic, you'll eventually hit that "Eureka!" moment.
9) Keep track of your progress over time, including sales numbers, profits, etc. These metrics should vary depending on your particular situation. Some entrepreneurs only care about profit, whereas others focus primarily on customer satisfaction. Whatever your preference, knowing how many customers bought what and how much money was made per sale will provide valuable insight into future growth.
10) Don't worry too much about competition unless it becomes apparent that your concept is very similar to theirs. In general, the number one rule to follow is to avoid being copied. It often takes several attempts to successfully execute a truly original concept. However, if you're able to pull off your creation flawlessly, you'll undoubtedly stand out among the rest.
The fastest growing trend in entrepreneurship right now involves turning your passion into a side hustle. Whether you love baking cookies or painting houses, you can turn your skills into income by selling them directly to consumers via sites like Etsy or eBay. Many people prefer working from home jobs due to their flexibility and ability to set their own hours. If you enjoy helping people solve problems or simply having fun while doing so, becoming a freelance writer is definitely worth considering.
To wrap it up, I'd recommend either starting a food truck or a drop shipping company. Both offer fast results, high levels of profitability, and relatively low startup costs. Plus, you can run both of them from anywhere in the country! To begin, check out our guide on choosing the best food trucks to visit. Next, read our detailed overview of the pros and cons of drop shipping versus retail stores. Finally, learn more about the top 10 most lucrative small businesses by reading our post on the subject.
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The Easiest Business To Start
So what exactly is the "easiest" type of business to start? The best way I can think of defining this question is by asking myself how many hours does it require to run/manage one.
Hours required to find a product and market fit - If you're starting your own company, chances are you'll need help finding customers and figuring out whether there's enough interest in your niche. This could be done with surveys on forums like Reddit, Quora, etc., or you may just want to try selling products to friends and family first. Either way, it takes time to figure things out. In addition, it also requires time to learn marketing techniques such as SEO, social media, email marketing, etc.
Hours required to build the website / app - Once you decide upon a product and a target audience, you'll likely want to create a landing page where people can signup to get updates and follow along via RSS feed. You might even consider building an app so they don't even need to visit a site each day. It takes time to design the pages and setup everything else. Also, you should probably hire someone who knows HTML and CSS to handle web development tasks like adding custom icons, buttons, etc. Then again, maybe you already know these skills yourself and can save money by outsourcing those parts.
Hours required to set up billing system & customer support systems - Depending on how much work goes into setting up the above three items, you should expect to spend anywhere between 1-3 hours per week for the next 6 months until you're ready to go live.
Hours required to manage expenses - Since you're spending more than $1K per month right now, you'll definitely need to keep track of every penny spent. For example, when we started our blog, we used Mvelopes because it was free.
Hours required to maintain the website / app - When you launch your new
When you're starting out as an entrepreneur it's easy to get caught in the trap that only one thing matters - how much money do I need to make before quitting my day job and going full-time? In this article we'll look at some ways to think outside the box when choosing your next business venture, especially if you don't have any cash on hand.
If you've ever been asked "How did you come up with such great business ideas?" or you're curious why there aren't more people doing these types of things, then you might consider thinking of them as a hobby rather than just a way to earn extra income. It certainly doesn't hurt to try something new once in awhile!
Many small entrepreneurs start by taking advantage of online platforms like Amazon, eBay, Etsy, Facebook Marketplace, etc. The problem is, it takes time to build credibility and trust through customer feedback, so you really should plan on spending thousands of dollars to create a brand name that customers know they can rely upon. Even though many companies are willing to pay big bucks for established brands, many others prefer to stay independent and keep their costs down. So let's take a closer look at a few options for low cost businesses to start without having to spend too much upfront.
Fiverr: This website lets anyone sell services (like writing articles, video editing) or products (like T-shirts). You simply upload a photo of yourself holding whatever product you'd like to promote, submit text describing the item, and provide payment details. If someone buys the service or product, Fiverr pays you 5 cents per sale. Obviously you won't make very much, but if you offer high quality work that sells well, you could end up earning more over time. Be careful because scams abound, so check reviews carefully.
Upwork Inc.: Similar to Fiverr, Upwork allows employers to post jobs for freelancers who are willing to bid on the projects. Once again, you must first upload a profile picture and fill out a brief questionnaire and then apply to complete the project. Payment depends on whether the client chooses to hire you. Again, be wary because scammers abound here, so read reviews carefully.
Food Truck: Many people dream of owning a food truck, selling delicious gourmet meals right off the street corner. While it may sound idealistic at first glance, it requires quite a bit of capital investment and even bigger commitment than most other businesses to run successfully. However, if you already own a car, a van, and all the supplies needed to prepare and serve hot food, you can turn your vehicle into a mobile restaurant. A quick search on Google reveals dozens of websites listing locations where you can purchase food trucks for around $10k-$15k each. Of course, prices vary depending on location and size of equipment. Still, it seems like a pretty good deal compared to opening a brick and mortar restaurant!
It's hard enough maintaining a single business, never mind multiple ones. When deciding which company to join, consider which businesses would require the least amount of maintenance. For example, if you decide to open several different restaurants, you wouldn't necessarily want to invest a lot of effort in each one since you probably won't be able to devote nearly as much attention to each individual outlet. On the flip side, if your goal is to become an expert copywriter or web developer, then you might consider joining a company specializing in those fields. As long as you remain loyal to the organization, you can continue working within the industry while growing your skillset.
There are also plenty of resources available online to help you pick a niche market that has potential for growth. For example, if you love cooking, visit sites like Allrecipes, Chowhound, CooksList, and Epicurious to see what kinds of recipes you enjoy making. Then use tools like Kontent Machine to find similar recipes across various recipe directories. Next, head over to Pinterest and browse images related to the topic you chose. Finally, visit forums dedicated to specific topics like baking and learn how others share tips. After gathering tons of information, start brainstorming possible names for your business.
For most entrepreneurs setting up a business is the biggest challenge. Whether you choose to go solo or form a partnership, getting started can seem overwhelming. Fortunately, you can save a decent chunk of change by outsourcing certain tasks like graphic design, photography, writing content, social media marketing, SEO optimization, logo creation, and much more. There are countless companies offering affordable rates for simple tasks, allowing you to focus on running your business instead. Here are just a handful of popular providers:
Freelance -- Find hundreds of freelance opportunities including copywriting, data entry, proofreading, translation, virtual assistant, programming, app development, marketing support, blog writing, bookkeeping, accounting, and legal assistance. They specialize in finding clients for writers, programmers, marketers, designers, photographers, illustrators, animators, videographers, editors, public relations specialists, sales reps, and accountants.
Creative Commons -- With Creative Common's network of over 1 million creative professionals, you can easily locate qualified individuals for almost every task imaginable. From graphic artists to software engineers to marketing experts, Creative Commons connects creatives with organizations seeking expertise.
Pixabay -- Pixabay offers free stock photos for commercial use. Not only does it list millions of royalty-free pictures, but users also contribute original artwork to its collection.
OutsourceHub -- OutsourcingHub specializes in connecting businesses needing professional help with skilled contractors worldwide. Their mission is to empower workers everywhere to achieve economic self-sufficiency. That means helping connect small businesses with talented local employees.
CrowdFlower -- CrowdFlower combines crowdsourced labor with artificial intelligence to deliver solutions that were previously impossible. Using proprietary technology, CrowdFlower matches businesses with highly trained talent through crowd sourcing.
InDemandInsights -- Looking for freelance writing jobs? In Demand Insights helps you find relevant openings for both part-time and full-time positions. The site lists thousands of writing jobs from all sorts of industries including IT, finance, law, healthcare, publishing, advertising, government agencies, nonprofits, education, journalism, communications, and retail.
The economy fluctuates constantly, but there are still a number of sectors that consistently experience growth. To determine which businesses are likely to grow, ask yourself questions like "Who needs my product/service now?", "Does my target audience exist?", and "Is my competition weak?". Another option is to study past trends and patterns. Are there certain times during the year when certain types of products experience spikes in demand? Or maybe there are seasonal events that bring customers back to stores?
Another key factor to consider is whether your product or service is actually useful. People often buy things that solve problems they didn't realize existed. Think about it...would you buy a pair of socks or shoes that you had heard was comfortable but hadn't tried yet? Probably not. Instead, you'd wait until you experienced discomfort before buying anything. Likewise, if you're considering purchasing a particular product or service, imagine yourself using it regularly. Would it benefit you personally? Most importantly, is it worth the price tag?
Finally, remember that the Internet makes it easier than ever to reach a global audience. Whether you live in Japan, Australia, France, Brazil, Germany, India, China, Mexico, South Africa, Nigeria, Indonesia, Spain, Italy, Russia, Ukraine, Poland, Sweden, Finland, Denmark, Norway, Iceland, Canada, United Kingdom, Ireland, New Zealand, or anywhere else, you can have a presence in virtually every country in the world. Plus, thanks to globalization, international markets are becoming increasingly important to consumers. Companies operating internationally are often better positioned to compete globally. And finally, don't forget that people are drawn towards things they feel passionate about. If you truly believe in your idea, chances are others will as well!
Now that you understand the basics behind starting a business, hopefully you'll have a clearer view of exactly what direction you want to pursue. Remember, the most important thing is to follow your passion. Don't worry about the money, because you'll figure out a way to make ends meet eventually.
If you're like me and need some inspiration on where to go next when it comes to starting your own business, I've got an answer for you that's both easy to do AND can be incredibly profitable! Here at Make Money Online, we spend a lot of time talking about how to make money online without having any technical skills or experience whatsoever. We also talk about making money as an affiliate marketer, selling products through ClickBank, eBay, and other sites. But there's another way to earn money that doesn't require much investment (or even any!), and that's by simply creating something new yourself.
For instance, if you love music, maybe you could create a YouTube channel full of videos showing people how to play different instruments -- just look up "how-to" channels, and you'll find tons of them. Or perhaps you'd rather create content around fashion trends and clothing styles, since those things tend to come back into style every few years. If so, check out eHow, because they offer many great articles about how to become a better writer, plus tips on writing blogs, websites, books, newsletters, press releases, and more. You don't necessarily have to write anything -- sometimes all you need is good photography and editing skills -- but you might end up being able to make extra cash doing this kind of work one day.
Or, if you're really passionate about something else, maybe you should consider becoming an entrepreneur who sells information instead. For example, someone once told me she wanted to sell her homemade bread recipe, but didn't know anyone to buy it from, so she started a blog explaining how to bake the perfect loaf of bread. She was able to successfully get customers lined up outside her door before she ever sold a single loaf. And then later on, she realized that she had accidentally created a whole community of bakers who were interested in learning exactly how to bake their own breads. So the next thing she did was open up a bakery herself, where she sold loaves of delicious bread made using her recipes. Now she has several locations throughout California, and makes enough dough each week to feed thousands of hungry mouths.
So, here's my question for you today: What is the easiest type of business to start? And would you agree that the best place to start a business is often among the simplest? That's why I'm going to share five types of businesses that I feel will be extremely effective regardless of whether you have zero dollars or lots of funds available to invest. In fact, these kinds of businesses aren't only the easiest ones to set up and run, but they're also very likely to pay off big dividends down the road.
The first model I'm going to suggest is drop shipping. This is essentially buying goods wholesale from manufacturers directly from overseas, then reselling them to consumers online via Amazon, Walmart, Best Buy, etc. The big benefit of this system is that you're taking advantage of massive economies of scale while still getting paid instantly upon sale. Plus, you can literally order whatever product you want whenever you want, and ship it straight to your customer's doorstep. All you have to worry about is finding a supplier (which isn't too difficult) and setting up an account with Amazon to handle payment processing, fulfillment, and returns.
I personally think this is probably the easiest of the five options listed above. It requires virtually no startup costs, and almost everything you purchase can be shipped overnight. There are plenty of suppliers in Asia willing to provide high quality merchandise for reasonable prices, and you won't even have to lift a finger to promote your dropship store. Just sign up for a free Amazon seller account, post listings on various platforms such as Alibaba, and wait for orders to roll in. Once you receive payment, you can immediately send the items over to your customer, and they'll get theirs within days. Easy peasy lemon squeezy.
Now, let's move onto the second option...
This is actually two separate questions. First, what types of businesses are the most profitable overall? Second, which specific types of businesses give the highest ROIs (return on investments)? Well, I think the most profitable of all businesses is franchising, especially if you're already familiar with running a restaurant franchise. But if you haven't done so yet, it may be worth considering opening up a food cart on wheels, known as a mobile eatery. Not only does this allow you to serve tasty meals to eager patrons wherever they happen to be, but you can easily expand your operation to include multiple carts. Then, you can hire others to help operate them for you, allowing you to focus on marketing your brand and building relationships with clients.
As far as which particular types of businesses bring higher profits per dollar invested, I believe the most lucrative of all is selling information. After all, who wouldn't want to learn how to do something useful, fun, and/or rewarding? Whether you're teaching people how to cook healthy meals, teach kids to read, or develop software applications for iPhones, you can charge anywhere between $5-$100+ per hour depending on how much time and effort you put into producing the material. Many people enjoy sharing knowledge, and if you can convince them that your expertise is valuable, you can build a steady stream of income from this source alone.
Finally, let's discuss the third model...
One of the biggest misconceptions regarding entrepreneurship is that it takes loads of capital to launch a successful company. However, if you're thinking of starting a business, you might be surprised to discover that it's possible to begin working toward success with practically nothing in terms of upfront costs. One of the quickest ways to get your foot in the door of the marketplace is by offering services related to travel. People are always searching for experts to show them places they've never been, and if you can prove that you possess certain qualities (e.g., natural charisma), you can quickly garner gigs promoting tours and cruises.
Another area that's ripe for entrepreneurs is education. If you excel at helping students pass standardized tests, or master foreign languages, you can turn your passion into profit. In addition to tutoring individual students, you might decide to form a group of teachers who meet regularly to exchange strategies and techniques. They can then split the profits evenly amongst themselves, thus giving you a solid foundation from which to grow.
Perhaps the best method for generating revenue is by selling digital downloads. Since technology has progressed tremendously during the past decade, it's easier than ever to produce digital files containing audio recordings or video footage. Therefore, you can sell access to these resources for a price tag ranging from $1-$10 per download. These kinds of sales are usually handled by specialized companies called aggregators, who act as middlemen to connect buyers and sellers together.
And finally, let's cover the fourth model...
The last category of businesses I want to mention involves small enterprises that are currently experiencing strong growth rates. As long as you stay current with industry news, you can use social media to monitor hot topics in order to identify opportunities that other businesspeople might overlook. For example, you could search Twitter and Instagram hashtags relating to trending subjects, such as #foodtruckinitiative, #healthyliving, and #fitnessmotivation. Next, you can see which brands are posting photos and updates pertaining to the same topic, and contact them individually to ask permission to repost their images and posts on YOUR website.
Additionally, you can take note of the latest trends in physical fitness, health care, and nutrition. Some examples of popular categories include yoga and Pilates, massage therapy, homeopathic medicine, and healthy cooking classes. By following these steps, you'll be able to tap into a huge audience of potential clients who are seeking alternatives to traditional medical treatments.
Just follow our battle-tested guidelines and rake in the profits.