Enter: The Side Hustle. I’ve created an entire podcast to talk about the side hustle, featuring interviews with the world’s top entrepreneurs right here on—The Side Hustle Project. Listen to my episode about How to Find a Profitable Business Idea right here…
A UAE national must be taken as a 51% partner who is called a local ‘sponsor’. A local company provides the freedom to locate the business anywhere in the city. For a business startup in Dubai, this is a boon because it affords the best choice of locations to suit your budget.
Too many entrepreneurs make the mistake of trying to run their business venture out of their personal bank account. It’s super important to create a separate bank account for your business, primarily because it isolates your professional financials and makes them easier to manage and track.
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Your marketing plan. What’s your marketing budget? Where will you focus your efforts? Social media, email campaigns, online ads? If you’ve done enough research on your target market, you’ll know where to find them. Just like your milestones, your marketing efforts are bound to evolve — but you still need to establish an initial strategy.
The real estate market is on the rebound (for today) and people are buying and selling properties in many locations across the U.S. That means a lot of opportunities for professionals who know how to navigate the legal, financial, and commercial aspect of real estate to build up a stable of clients as a side business idea, especially if you begin to scale your sales hiring and build a team of reps working to help you close more deals. If you consider yourself an expert in the subject, it won’t be a walk in the park (hehe), but you can earn significant additional side income as a home-based consultant.
Craft beer is a booming business: There were 5,234 craft breweries in the U.S. as of 2016, more than double the 2,420 in operation in 2012, according to the Brewers Association. Craft brewers now hold a 12.3% market share in beer, up from just 5.7% in 2011, according to the association.
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Visit the website of the U.S. Small Business Administration to learn what goes into a business plan and how to write one. You will need to provide an overview of your product or service, an analysis of your marketplace, a marketing plan and financial figures. Look for a SCORE chapter in your area so you can get free advice from retired executives on the first draft of your plan. You can also ask business friends and associates for advice.
S Corp: S Corps require a much more formal structure than LLCs. They’re made up of a board of directors, corporate officers, and up to 100 U.S. shareholders. However, like LLCs, S Corps aren’t subject to double taxation — all of the profits are claimed on the shareholders’ personal taxes.
As a TTEC@Home associate, you’ll use our technology to support and assist customers with a variety of customer service and technical needs. This could include helping customers over the phone, via chat, or on social media. Best of all, you can do it all while wearing your slippers or flip flops! (To get started, you’ll need internet access and a home phone. Bunny slippers are optional.)
The major benefit of becoming a foreign corporation is that it allows your company to operate as one entity in many jurisdictions. For example, if you originally incorporate your LLC the State of Delaware, you can file your existing domestic LLC as a foreign corporation in other states.
State Required Insurance for Certain Businesses: Business owners should be aware that licensing boards may require certain types of insurance related to specific professions. For more information, consult your licensing and permitting board.
Read through our comparison guide to learn more about each business structure. Make sure you fully understand the taxes, management, and level of liability tied up with your chosen structure before registering it with the state.
When my book publishing business grew to the point when we needed forklifts, I was shocked by how expensive they were. So, we went to a used industrial equipment dealer and bought all of our forklifts there. Selling industrial equipment allows for specialization and it also allows for you to build up long-term relationships with customers. Furthermore, you can have add-on sales such as maintenance, supplies and repairs.
The next step in your journey involves choosing a business structure and registering it with the state of Colorado. Registering your business as an official entity is the only way to protect your personal assets and achieve total legal compliance.
You have a passion, and you’d like to make it your profession. No matter how enthusiastic you are about your small business, though, it won’t be successful unless you have a plan in place for how you’re going to start and run it.
Now we come to crunch time — assigning specific dollar amounts to your lists. This process is always going to be a best guess, but be realistic and use past experience, research and advice from other entrepreneurs to guide your cost estimates. Organizations such as SCORE and your local Small Business Development Center or Women’s Business Development Center can provide free and valuable advice about how to calculate your start-up costs.
One of my friends took over her father’s dry cleaning business that over a lifetime he had built into a dozen stores. This is really hard work. Every item has to be handled many times. Customers can be demanding. And it is competitive. But if you are willing to work hard, you can make a very solid income.
If you tell people you run a lawn-cutting service they might laugh at you, but so what! You can make a lot of money cutting lawns! You can start with one lawn and a second-hand lawn mower, and grow your business into riding mowers, full landscaping services, fancy trucks and trailers, and lots of happy customers! Click here to see the sample marketing plan I wrote for a lawn service business.
Yes, you can learn how to repair smartphones. You can buy parts (you should inventory more common ones) and you can watch videos on YouTube that show you how to make repairs. I have been to a small shop in Cambridge that specializes just in fixing casing and glass on smartphones. You can make good money but it will take some patience to get going. A storefront, even a small one on a secondary street or second floor of an office building, will help make your business seem more established.
A search engine optimization consultant helps websites and blogs rank higher on search engines, such as Google. Duties typically include researching new keywords, writing content, analyzing and editing existing content, and staying up-to-date on industry trends and best practices.
Most companies that hire for search engine evaluation have multiple projects available to work on, so the exact work you do might vary. However, search engine evaluation in the traditional sense involves analyzing queries that regular people like you and me might type into Google or Bing search and then determining the best possible results to match up to that query so that users have the best experience possible using a search engine.
While there are all kinds of training that corporations will pay for, I am focusing on sales training because the demand is so widespread. It is an absolutely critical function, even for small businesses. If you don’t have great contacts at larger companies I would suggest you target smaller firms, such as those with sales forces of 6 to 20 people. Small enough so that everyone isn’t trying to sell them training, but large enough that they are likely to be willing to pay for it.
Thanks to sites like TaskRabbit, plenty of people have learned to pick up work doing a variety of side jobs that other people just don’t have time to do. Common tasks can include anything from picking up dry cleaning to making dinner or assembling Ikea furniture.
Shop around local banks to see what’s out there. Local banks and credit unions usually have fantastic customer support, so we’d recommend looking into some award-winning Colorado-based banks like Alpine and Bank of Colorado.
If you want to start a small business, write down your plan for accomplishing your goal in a business plan that includes a description of your business, how it fits into the market, and an operational plan describing how you will deliver your product or service and all of the costs involved. Secure your start-up costs, taking out a small loan if you need to, then find a space to set up your business, market your company, and launch your product or service!