Starting a new business comes with many steps. However, every business first starts with a great idea. With countless ideas one can find online on how to make money, it can be overwhelming for new entrepreneurs to narrow down which ideas are viable and can turn into a profitable and successful business.
If you’re looking to launch your first business and follow your dream of being your own boss, here are 8 business ideas to pursue. Not only do these have a proven track record for success, but they also all have low startup costs. Many also have the option of an online business model. This allows you to get your business up and running in no time.
If you have a way with your words and can articulate information and ideas to others, then you could start a freelance writing business. Not only are there various types of writing you can specialize in, but there’s also a niche for just about everything. Start by writing on topics that you already have experience with but you’ll also want to research what the highest-paying and in-demand markets are.
A few different types of freelance writing include technical, web content, copywriting, ghostwriting, grant writing, and others. With different freelance sites like UpWork, ProBlogger, Fiver, and BloggingPro it’s easy to start a freelance writing business.
Print-On-Demand (POD) Online Business
Beginning a print-on-demand business, or POD, is an ideal option for brand-new entrepreneurs and has the potential to grow into a passive income stream. This business model requires creating custom designs to place on items such as mugs, tote bags, t-shirts, hoodies, and other white-label products. You then work with a print-on-demand company, such as Shopify or Printify, that provides the white-label products, prints your design on them, and then ships them to the customer only after an order is placed.
This model gets rid of the traditional brick-and-mortar model of needing to keep an inventory and buying products in bulk to sell to customers. This allows entrepreneurs to easily customize products and try new designs with little to no risk.
With the continuous increase in popularity of video content through YouTube, TikTok, and other apps, there is always a need for good video editors. Video editors require a blend of both technical and creative skills. The main job of a video editor is to piece together raw footage and sounds to form a story.
If you’re looking to pave a path within this industry you can begin by learning the technical language used in the industry. Then begin understanding the ins and outs of popular software such as Adobe Premiere Pro and Final Cut Pro. From there, you can start building up a portfolio. This can be done by working on projects, either personal or through clients.
Social Media Management
Social media presence can be a critical factor to many businesses’ success. Especially in a market where they need to stand out from their competition. Many companies are outsourcing their social media and management and if you easily connect with others and keep up on the latest trends this can be a great opportunity for you.
By starting a social media management company, you can help other businesses grow and curate their online presence to attract their target audience. Some common services to offer are content creation, developing content strategies, collaborating with influencers, and tracking effectiveness. You can also specialize in a specific platform like TikTok, YouTube, or Instagram.
If you’re looking for ways to dip your toe in the e-commerce business, becoming an Amazon reseller may be just for you. Amazon resellers essentially source deals on in-demand products, typically buying in bulk, and resell those products on Amazon for a higher price, earning a profit on the price difference.
Most resellers use platforms such as Alibaba, eBay, and Aliexpress to search for low-price products to resell. After figuring out what you want to sell, you’ll need to register as a seller on Amazon and start to post your products online.
Many people struggle with sticking to their fitness goals and look for guidance when it comes to working out and building healthy habits. As a personal trainer, you can help people achieve and maintain their fitness goals. You do this by creating personalized exercise programs as well as developing healthy nutrition plans.
Many personal trainers market themselves and grow their client base by sharing their fitness journey online. By showcasing your expertise through social media and sharing tips and resources to help others, you can draw in potential clients to work with.
While this business idea does not require a degree, it is highly recommended to earn a certificate to learn proper training and coaching techniques as well as earn credibility within the field.
Photography can be a wonderful business idea for creatives who are good at capturing special moments through a camera. There are many possible specializations when considering opening a photography business. Some ideas includes commercial, fashion, wedding/events, portrait, real estate, stock photography, and more.
You’ll want to begin building a solid portfolio that potential clients can review to see your work and style. As well, one of the most important investments is making sure you have the correct equipment to capture quality shots.
Blogging offers an attractive business opportunity for new entrepreneurs due to its low barriers to entry, flexible nature, and potential for generating income. With minimal startup costs, blogging allows aspiring entrepreneurs to share their expertise, experiences, or passions with a wide audience without the need for a large initial investment. The digital nature of the business means that bloggers can work from anywhere and adapt their schedules to their preferences, fostering work-life balance.
Starting a blog also enables entrepreneurs to establish their online presence and build authority within their chosen niche. Through consistent, high-quality content, bloggers can attract and engage a loyal readership. This audience can then be monetized through various income streams. For example, affiliate marketing, online courses or with sponsored content.
Additionally, blogging serves as a valuable learning experience. You’ll learn skills in content creation, digital marketing, and SEO. These skills can not only be applied to future ventures, but also increase the likelihood of success in the blogosphere.
These business ideas for new entrepreneurs can also start out as a side business, which allows you to keep a day job and means less risk as you grow your client base and increase your profits. The biggest investment for many of these is your time and effort.
We hope these 7 business ideas give some inspiration and guidance on your entrepreneurial journey. The next steps are researching your chosen market, writing out your business plan, and getting any required licenses or permits to run your business. You’re one step closer to becoming a business owner.