The basics of every business idea is to be profitable, and it’s easy to get seduced by planning, ideas and immagination when investing into a business. Small businesses are particulary sensitive to this because of their essential importance to the owner of business and frequent restrictions in budget. The owner usually wants to make a living for himself and his family, so working hard is always a part of the deal.
What often is the first step into failure of small business is not being able to do a quality research and understand the needs of a market. Profit should be on the top of every business persons mind, otherwise the dream ends soon and cruel.
To make a profit, your small business needs to be supported by a good idea and a vast research.
So, coming to my point and the first thing you should answer – what is a profitable business to start?
Answering this question can turn out to be very complex, primarily because of your location. Urban and rural communities have different needs, so start with that. Also, mixing it with something that you actually know how to and love to do would be the a great step in the right direction.
I’ll be telling you about some of the small business industries that are expanding fast.
IT – Support, Programming, Design
Chances are that if you are a millenial you can at least speak the language of support and answer simple questions like ‘Where is the movie I just downloaded?’. You’d be surpriced how many people have no idea and need help over these things! The biggest advantages of starting and maintaining this kind of business are that it is becoming more easier to find people trained to do it. And the other thing is location. You don’t have to be a supporting/programming/design company in New York. It can really be a profitable small business in a smaller community and most of the things that you will be doing are going to require Internet communication anyways. Your office can be in someone’s house or appartment (which is cheaper that renting place for a store), and even location is not essential as people will mostly call you on phone or contact you via emails and social media.
Social Media Expert
We live in an era of absolute nessesity for social media exposure, especially for business. Companies which are not on Facebook, don’t exist. Now, having a profile or a page of your business is really just straching the surface. If a company wants a proper social media management – they hire you. Make posts, engange with customers, offer them products, be professional and be paid.
With the rise of obesity and diabetes all over the globe, people caring about their health turn to working out a the gym. Being able to sustain months of discipline to reach your goals is unthinkable to a lot of people, so they decide to hire a personal trainer. Opening a gym or offering even online video coaching is an option these days. Again, you can do this alone or with a small team, all you have to do is to look really good. You wouldn’t hire an obese trainer, right?
Being a part of a certain industry for a long time can make you into expert. Why not offer your advice to other companies who want to succeed? You can get hired to speak on events, be a part of company’s meetings and influence their final decision based on your expert insight. If you are an expert in any area, try to sell that!
With the ever-growing number of cars, needs for maintaining them has seen a great increase. Now, chances are that you are probably not a mechanic, but if you love and enjoy cars, there are many people who are and are out of a job because than can’t open their business. Track them down, hire them! Choosing a good team to work with is also one of the essential things, so if you have the luxury of being picky – use it. Maybe connect your car repair shop with car washing services (you don’t need experts for that) and you have yourself a nice profitable small business.
These are just some of my suggestions and based on your reactions I’ll see if making more of these small business articles has a point.