There are 31.7 million small businesses in the U.S. and growing, leading to more new business owners turning up every day. They are a great way to get in on the entrepreneur spirit, earn money and even build wealth in many cases. In short, new business ideas are not something we can run out of anytime soon. But how do you find the right small business idea?
If you are looking for inspiration to start your own small business, take a look at these 40 great business ideas for beginners. How to Choose the Perfect Small Business Idea for Your Own Business
It can be tough to make it in the business world, so make sure your business ideas count. A solid idea for any size business requires a certain level of due diligence, planning and research so that you can make sure it is feasible for your unique situation.
Here are some tips to match the right business idea with your personality, skillset and goals:
> Focus on your skills, experience and preferences. What are you good at? What do you like to do? Are there activities that make you happy and feel fulfilled? When answering these questions, it is important to think about what skills come naturally to you.
Narrow down your list. Once you have a general idea of the types of businesses that interest you, start researching them on the internet. Then, ask people in your local community and your local businesses to see if any companies match this description.
Consider what you will need to start the business. Do you have the necessary funds to start a business? Are you able to do all or most of the work yourself to keep costs down? Are your personal and business finances in order? Do you have a business plan? By the way, the SBA has a an excellent free business plan template you can use to write your business plan .
Make a list of pros and cons. This is an important step for helping you decide whether or not the business is a good fit for you.
Noodle out the business/lifestyle ratio. The good news is when you work for yourself, you can often set your own hours. The bad news is that you might be working 60+ hours a week, especially during the startup phase. If you believe in balancing business with time for you and your family, then it is important to find a small business idea that will allow for this.
The Ultimate Small Business Ideas List
Now that you’ve decided you’re ready to start a business let’s dig into the list of 40 best small business ideas for beginners. Below, you’ll find ideas about anything from being a virtual assistant to owning a specialty supermarket. By the time you’re finished, you should have plenty of inspiration to get started on the right track to owning a thriving business. 1. Virtual Assistant
If you have strong organizational skills and a knack for detail, consider becoming a virtual assistant, as it is an easy way to get a business started. As a VA, you can support business owners who are too busy or don’t have the time to do everything themselves. You can perform tasks such as managing schedules, booking travel, answering emails and more. 2. Childcare
If you’re good with children, starting a childcare business could be the right choice. It requires minimal startup costs and is easy to get started—usually, all you need are some educational certificates or training in early education development. You can begin by offering daycare services for infants, toddlers, preschoolers, school-aged kids and even special needs children. 3. Social Media Consultant
Knowing the ins and outs of Facebook, Twitter and Instagram can lead to this lucrative service business. Here, a consultant acts as a social media manager to help enterprises develop their social media accounts and execute a social media strategy. This could include helping create or manage profiles on various platforms, developing and implementing campaigns and more. 4. Instagram Influencer
If you have a large following on places like Instagram, consider becoming an influencer. As an Instagram influencer, you can promote products and services to your followers in exchange for money. You’ll typically be paid per post or by commission for the products you sell. Be sure you read up on the FTC’s Disclosures 101 for Social Media Influencers before starting one of these online businesses though. 5. Etsy Seller
An Etsy […]
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