The best business ideas are those based on a skill you already possess or that fulfill an obvious need in your community. Rather than investing lots of time and money on something that you have no knowledge of, focusing on simple ideas will allow you to explore more than one option and make it easier to switch to something more profitable if the first try doesn't work out.
Online Businesses
Businesses that can be conducted over the Internet are great if you don't want to set up an office or hire employees to deal with the public. If you have a particular skill that can be done on a computer (such as graphic design, website setup or even accounting or virtual personal assisting), getting a business started may not take much more than buying some basic software programs and offering your services to local businesses. If you can handle desktop publishing, you may also be able to put together newsletters for local businesses or help with their marketing and commercial writing.
Selling Ad Space
Setting up a website or blog may be the simplest business idea of the 21st century. You can earn money by selling products or advertising space, or by joining affiliate programs, in which you get a percentage of each item you sell (in most cases, this means highly-popular products that sell well). You will need to spend some time promoting the site and adding interesting content that keeps readers coming back, but getting started should not take that long.
Change a Hobby Into a Business
Turn your hobbies into a money-making opportunity. Whether you dry flowers, do stencils or can handwrite cards using calligraphy lettering, you can probably find a market for these online. Locally, you can try offering your creations at flea markets or sell them on consignment through craft stores.
Coaching or Consulting
If you are knowledgeable in a popular topic or skill, you can become a coach, consultant or teacher. Most states do not have any licensing or educational requirements for coaches, and you can easily get around any potential liabilities issues by calling yourself a consultant, rather than an educator. If you like working with children, consider becoming a tutor and helping students prepare for exams or with their homework. If you prefer working with adults, consider life or business coaching, where you can help new graduates or those stuck in a rut find their footing.
Product Sales
You can become a sales representative and work from the comfort of your own home or through setup sales parties. While most people use these opportunities as a source of secondary income, it's possible to earn a full-time income if you commit to promoting the products. The major advantage of working for companies such as these is that you can be fairly independent while still having the advantage of dealing with a well-known company that sells just based on its name.
Help From The Small Business Administration
If you are looking to set up a larger business, you might want to consult with the Small Business Administration for help with the legalities. This is especially important if you plan on hiring employers, are selling something that requires a permit (such as prepared food) or need added insurance. Larger businesses may also need legal backing to ensure that all paperwork, including licenses and forms, have been properly filed.
Tags: Business Administration, help with, local businesses, more than, offering your, Small Business