There are lots of entrepreneurs, but the most critical question is what business should they start? You can come up with hundreds of good ideas, but what’s the point if you can’t implement them and turn into a real business?
Here are 6 ideas for you to start your first business – you can test the water first and eventually find out what you are really good at and change your business eventually.
Idea 1: Buy a small franchise
Franchises can start from as low as $5000, even less, some good franchises are also available between $10,000 to $20,000. Many franchising opportunities are designed to be work-from-home businesses as well.
The good thing about franchising is you are tapping into an existing system, therefore, you can save significant time in product development, as well as sales & marketing activities. You can lear a lot being a franchisee, you can learn about sales & marketing strategies, you can learn from training, and most importantly, you can also build up your customer base as well.
Idea 2: Kids related activities business
Summer camps, sports camps, winter camps..you name them. The kids activities industry is the fast growing industry and it was hardly impacted during the recession as well. Most parents will cut spending on everything but on kids’ activities.
This is a good way to build your first business – this can include tutoring, summer camps, activities camps, education & entertainment, dancing, football and lots of choices.
The best thing about this is building a business around your hobbies and interests – for example, my hobby is in sharemarket and business creations – I had been running summer camps teaching kids about finance and business innovations.
You can also establish great networks through these activities with their parents, this is a great way to get to know clients from different industries.
Idea 3: E-Store
Anybody can set up a e-commerce store these days. eBay and Amazon are good starting points, but essentially, you should also build a site that can send customers directly to your site. The choice is yours – you probably need to try different products or services on web. Avoid businesses that require inventory as the first business as that can eat-up your capital very fast, if possible, have some digital products such as eBooks or reports as starting point, and promote useful information such as How To Guides.
Idea 4: Blogging Website
Blogging can make you become an expert – by writing informative articles, you can create many followers and larger audiences. Blogging is not everyone, you must enjoy writing, or you can have a team of writers, that you can manage.
Blogging can create significant advertising revenues, one good example is Examiner.com – who shares revenue with other writers.
However, to make it successful, you must own your own blog and builds up traffic consistently, and interact with your readers by offering them incentives, downloads and communicate tem regularly with newsletters.
It is very common for bloggers to make $2000 to $3000 a month these days as a starting point, and they can go into $10,000+ a month once you have 50,000 or more members and readers.
Idea 5: Mobile Marketing Company
This is quite a fast growing trend thanks to smart-phones and devices. Mobile marketing is surging and businesses are adopting this rapidly. Mobile marketing is a simple-to-use and simple to understand concept for most businesses.
You do not need to be an IT expert, but rather – is to have a good idea and user of different applications that can integrate with social media tools and web marketing platforms such as Facebook, LinkedIn, Pinterest or Twitter.
This is an exceptional popular business for young entrepreneurs, who are always on the lookout of the latest new gadgets or mobile applications that can be utilizes for businesses.
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