Are you looking for new business ideas? According to a recent Guidant Financial survey, 75% of entrepreneurs are “somewhat happy” or “very happy” because of the independence and control they enjoy from running a small business. America currently has 31.7 million small businesses.
To help you explore your options, we’ve listed a few ideas that have worked for newbies, and which you can later customize according to your intended market and expertise.
Some of the best ventures to look into cater to other small and mid-sized businesses.
1. Bookkeeping and Accounting
With an accounting software, you can offer financial management services to your chosen niche and set fee structures based on the scope and complexity of your tasks.
2. Data Analysis and Research
You can sign up with or subscribe to analytics and business intelligence platforms to provide this service. Market analysis, logistics analysis, fraud detection, data security, and data mining are some specialized services under this type of work.
3. Online Selling or Dropshipping
You can set up an e-commerce site for selling products, or you can explore dropshipping, in which you work with suppliers who will package and ship products directly to your customers.
Women’s and infants’ clothing, beauty and healthcare products, exercise outfits and accessories, home improvement and home office equipment, cellphone accessories, and pet care items are some of the most popular dropshipping products. Try new and emerging brands to break into the market saturated by retail giants.
4. Virtual Assistant Service
Many executives now rely on virtual assistants to handle administrative tasks, like sending emails, settling bills, booking appointments and trips, and more. Consider this option if you have strong communication, organization, and time management skills.
5. Digital Marketing Management
Skills in web design and development, copywriting, SEO, social media post creation, or podcasting are some of the key skills that can help you run your own boutique marketing agency.
6. Affiliate Marketing
Earn commissions from the companies you support when your followers visit their sites or buy their products after clicking on the ads and links on your blog or social channels.
7. Language Translation
You can start offering translation by checking for work on job websites; you can also connect with bloggers and offer to translate their content into a foreign language. Your service can expand from single documents to whole websites.
Top transcription markets include medical, legal, and market research sectors. You can also seek opportunities among podcasters, video production firms, authors, keynote speakers, and publicity coaches.
9. Office Space Rental
Open up your property as a co-working space, which you can market to employers with a remote or hybrid work setup.
10. Office Cleaning Service
Cleaning services usually cover maintenance of flooring and carpets, windows, upholstery, air ducts, and commercial kitchens, to name a few. Make your firm stand out by including deep clean services such as disinfection and sanitation.
Art and Media
Start investing in your own equipment and supplies to offer your services in the following:
11. Graphic Design Service
12. On-Demand Printing
13. Aerial/Drone Videography
15. Makeup Service
These hi-tech ideas require coding knowledge, equipment, and supplies:
16. Mobile App Development
17. 3D Printing Service
Offering on-demand services to small and mid-sized businesses (SMBs) is perfect if you’re just starting out freelancing. SMBs love to work with self-starters who are adaptable, motivated, and highly skilled in verbal and written communications.
Career coach Ryan Kahn says it best: “Master your strengths outsource your weaknesses.” Outsourcing allows business owners to do more of the activities they’re really good at. You can help entrepreneurs deliver faster and more efficient service without them having to get full-time workers or new equipment.
Depending on your area of specialization, you can offer to hold in-person sessions with individuals or groups of clients, as well as offer online courses and seminars.
18. Training, Coaching, or Tutorials
Many professionals are upskilling or reskilling for promotion or to start their own side hustle. Be that person who doesn’t just equip people with new skills but believes they have what it takes to be their best selves.
Many professionals are upskilling or reskilling for promotion or to start their own side hustle. Be that person who doesn’t just equip people with new skills but believes they have what it takes to be their best selves. Coaching is unlocking a person’s potential to maximize their own performance.
Make a business out of providing home care help:
19. Medicine Courier Services/Personal Shopping
20. House Cleaning (Others Related: Property
Management and Lawn Care Services)
21. Elderly or Child Care Service
22. Personal Meal Preparation
Most personal services, as well as food and hospitality ideas, require zero to minimal formal training or certification. Home care help happens on your customers' premises, so you can avoid spending on the high overhead cost of running a shop or office.
Hospitality and Food
Provide pleasurable dining, housing, and recreation experiences with these services:
23. Food Catering/Food Delivery/Food Truck
24. Rent on Airbnb
25. Guided Tours
Master your strengths, outsource your weaknesses.
Offering on-demand services to small and mid-sized businesses (SMBs) is perfect if you’re just starting out freelancing. SMBs love to work with self-starters who are adaptable, motivated, and highly skilled in verbal and written communications. Outsourcing allows business owners to do more of the activities they’re really good at.
You can help entrepreneurs deliver faster and more efficient service without them having to get full-time workers or new equipment.
With research and a solid business plan, you can offer a unique version of any of these 25 ideas. Then get ready to work hard and “fail fast, learn faster,” as management consultant Gary Burnison would say.
Contact us for more details.