Consider your talents, experience, and knowledge when selecting a concept. If you have a particular skill set or talent, consider how these resources can be applied to meeting some sort of market demand. Combining skill and knowledge with a market demand increases your odds of having a successful business idea.
Keep learning, and be adaptable to change. Find buddies, mentors, local business-related organizations, Internet forums, and wikis to discuss the daily details of running a small business. It’s much easier for everyone to perform their core businesses well and prosper when they don’t waste time and energy “reinventing the wheel” on housekeeping.
Although TeleTech offers many customer service jobs at call centers across the U.S., the company also hires at-home workers. Just look for the listings with “work from home” or “Remote” under “Location.”
ClickWorker is an online platform where you can get paid for writing, translating, researching and collecting data. To get started create an account, fill out your profile, complete a qualification assessment, then bid on jobs. Payments are made by SEPA bank account transfers, and via PayPal once your account reaches $1.00, and your tax information has been completed. ClickWorker’s clients include Groupon, Tennis Point, Honda, PayPal among others.
Keep it professional. It’s well-worth a small monetary investment to make sure your logo looks legit. People are much more trusting of businesses that have a professional aesthetic. It doesn’t have to cost hundreds of dollars, though — there are plenty of talented designers on Fiverr who’ll create your logo for as little as $5.
When it comes time to officially form your business, we highly recommend seeking professional help. Using an online filing service is an inexpensive alternative to consulting with a lawyer, and many of them offer other necessary services at low rates when you form your business with them.
For most people, successful investing will involve selecting mutual funds or ETFs, not individual stocks or bonds. That means to become a financial planner you don’t need to be a Wall Street wizard. You will need to understand the basics of investing (such as the importance of being diversified and understanding and respecting your client’s risk profile!) but this is very learnable. Study hard for this profession and you can do a tremendous service for people by helping them protect and growth their hard-earned money.
Another way to hold onto your competitive edge is to stay proactive. If you know that your business is going to face challenges or encroachment by a competitor, don’t wait to react — plan ahead and you’ll stay ahead.
The first thought that comes to mind for mobile hair salon is that you save the overhead of having a storefront location. However, you are also offering a convenience for your customers. Assisted living facilities and senior citizens trying to minimize trips out of the home will especially appreciate mobile hair salon services.
I hate being locked out! And I hate how much money I have to pay a locksmith! Let alone how much I have to pay to have locks changed or a better lock system installed! Wouldn’t it be nice to be receiving this money instead of paying it out? Not only is there a constant need for this service, but with more elaborate door systems there is more room for upselling your customers—wouldn’t it be cool to have a keyless lock system?
While the barriers to entry for a retail shop can be very high, one way to keep costs down and limit your time investment while you keep your full-time job, is to set up a weekend popup shop as a side business idea. More of whatever it is you’re selling—donuts, clothing, antique baseball cards, or anything else—will stay in your pockets instead of going to pay for operating expenses such as rent or utilities by choosing to pursue retail as a side business idea with a short-term rental. This guide from Shopify will give you a step-by-step process for getting your popup shop off the ground.
Apparently you have to be seen to be appreciated by your coworkers, so, if it’s possible, you might want to get out of the house and show up at the office once in a while. (Plus, you might start feeling a little lonely — and lose a little too much sleep.)
A photographer, for example, can service a local event while selling prints online through their Instagram account. Coupling your service-based business with physical products can give you another source of income that isn’t directly tied to your time.
Take Action: We know picking a spot can be tough if it doesn’t somehow happen naturally through your personal/professional networks. If you’d like to brush up on everything that goes into making this decision, refer to our friendly guide on How to Choose the Perfect Location.
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.
Did you major in a subject like English, history, or math in college, or do exceptionally well on the SAT exam? Do you have patience with children? If so, you likely have what you need to tutor kids in particular subjects. Seek out parents or teachers and let them know that you tutor students in a certain subject, and offer materials for them to share, and phone calls will often trickle in. You can get going locally or expand across the country by offering to tutor online.
Potential customers need to be able to Google you and investigate your business. They need to have digital payment options. They need contact forms and blog-content in some cases to see what your brand is all about.
Have some extra space in your home? Turn that extra bedroom into a “bed and breakfast” room. If you live near any sort of tourist destination, you can try your hand at renting out a room through Airbnb or CouchSurfing.com. You may also find paid hosting opportunities in your community: Sign up to host exchange students, visiting professors to a nearby college, or hospital patients receiving long-term treatment.
To estimate your start-up costs, begin by creating two lists — one of things you’ll treat as expenses, one for your assets. Don’t forget to consider items such as brochures, business cards and website development costs or any security deposits you need to make. Consider whether you need the help of a consultant, tax adviser or lawyer to get started. Next, categorize these items as essential or optional — do you really need to spend money on these before you start making any kind of income?
Hack the Hood is a non-profit that introduces low-income youth of color to careers in tech by hiring and training them to build websites for small businesses in their own communities. Participants learn coding, design, and 21st century workplace skills, while gaining valuable leadership and entrepreneurship experience.
Convergys hires home-based call agents to provide customer service support. This company offers paid training, hourly wages, as well as benefits like, paid time off, 401k retirement plan, life insurance, medical, dental, and vision. Convergys only hires home-based agents in the US.
What price do you intend to sell your product or service for? How much will it cost you to produce? Work out a rough estimate for net profit—factoring in fixed costs like rent, energy, employees, etc.
If you buy a franchise, they may come with back-office support to help you run your business, including with money transactions. If you’re running the business on your own, you could use a service like Paypal to conduct any transactions.
T-shirts can be a viable path toward creating an automated side business idea that makes money for you while you sleep. Even Bloomberg and Forbes feature stories from entrepreneurs who’ve done just that. Want to learn how to make this side business idea come to life? You can find TeeSpring selling walkthroughs here, here and here.
Two of the biggest problems of operating a retail store are the overhead of having a storefront and the risk and cost of carrying inventory. With a virtual consignment store you eliminate both of these problems! You could take it one step further and have your suppliers drop ship the goods for you.
If you don’t generally need an office beyond your home, but may occasionally need meeting space, there are often places that can address those needs. A quick Google search on “business meeting rentals [your city/state]” will deliver plenty of rental options in your area.
Everyone knows legal proceedings take forever, can be very expensive, and the outcomes can be uncertain. I became involved in litigation with a service vendor and it looked like we had no alternative but to go to court. However, our opposing attorneys agreed to hire an arbitrator and we ended up with a much better result, with much less time and agony. A great business—and a great service for individuals and businesses.
As part of your marketing, you can share the impact that your customers are having by supporting your business, such as a blog post covering your work in the community or a real-time impact calculator on your website.
Totspot is a mom-to-mom mobile marketplace for buying and selling gently used or new children’s clothing. Totspot users can list clothing items for sale in less than one minute, and all transactions are handled in-app. Totspot then notifies the seller when their item is purchased.
Tigerfish offers transcription, proofreading, editing and audio engineering services to clients. Tigerfish hires freelance contractors for these positions. Must complete and pass a quality assurance test before being hired.
If you want to speed up the process of building your blog, I recommend setting up quick, affordable and easy website hosting with a company like HostGator and then hiring a talented freelance designer or web developer on a high quality marketplace like Crew in order to free up more of your time to utilize on creating content, connecting with (and building) your audience. Then once you’ve been able to build a community around your blog, you’ll want to invest in really understanding your readers—so that you can give them more of what they want.
Create a marketing plan that provides details on the following: your product, pricing strategy, distribution strategy, advertising strategy, public relations, promotions and social media. Don’t work on your marketing communications until you’ve determined your unique selling benefit, target customer, distribution channels and your brand or image in the marketplace.
Are you an extrovert that loves meeting new people? Selling insurance products—particularly life insurance—may be a great way to bring in some extra cash and build residual income in your spare time. Selling life insurance on the side could quickly generate a consistent $1,000 – $2,000 per month depending on how much time you invest in this side business idea. To get started you’ll likely want to take an online course to brush up on the subject matter, and then pass a state licensing exam. The biggest challenge you’ll face as a new agent is generating sales beyond just helping out friends and family. From there, it’s all about networking and lead generation to grow this one. Learn more about this side business idea with this getting started in life insurance guide from the team over at NoExam.
Cass Information Systems – Data verification and data entry work. This position is location-based. If the position is open, you’ll see it under “Data Verification Clerk.” Training onsite is required before you can do the job from home.
This is very specialized and you need to have a good amount of expertise to get started. But what a fun way to make a living! Visiting clients’ homes, viewing and researching their art: what could be a more fun business than this?
Don’t be fooled into thinking it will be easy, though: Starting a business requires a lot of time, effort and hard work, and perhaps unsurprisingly, many would-be entrepreneurs end up failing. But if your company survives, the rewards of entrepreneurship are well worth the obstacles you’ll face on the road to success.
#43 – Testing Time is a business opened to a global audience looking for an opportunity to share their opinions and get paid $50 per study made. You must have access to a Skype account and work a minimum of 90 minutes. The payment takes almost a week to process.
This is a good solid business. Everyone needs their house inspected before they buy it. Network with real estate agents. Become known for being a meticulous home inspector. Leave you clients with a thorough, detailed report.
A limited liability company (LLC) is a popular way of setting of a business because it allows the owners to limit their personal liability for actions taken by the company. While an accountant or an attorney can set up an LLC for you, it is usually pretty easy to complete the formation process yourself. Keep in mind that each state will have different rules for forming an LLC, so it is important to look at your specific state laws before proceeding.
Washing windows for retail stores is about as simple as it gets. Just get your cleaning supplies and knock on the doors of retail stores, asking if they want their windows cleaned. If you get some takers you could arrange to make it into a regular service.