Watch the video to discover the various kinds of businesses you can have!
Here are some questions you need to ask yourself: Get a pen and paper and start writing, you're going to need to see it all laid out in front of you to get a proper picture.
Will your business be selling a
service or a product?
- Do you know how to create the product?
- Will it cost money to make a prototype? How much?
- Have you found someone who can make it?
- Is it a physical product or a virtual product (ebook / course / online product)
- Can your product be marketed and sold online?
- Will you need reps to get it into a physical market?
- When manufacturing is there a minimum quantity that needs to be manufactured in a batch? What will it cost?
- Is the product available enough to go big with it? You would hate to put all that effort in and then the market runs out especially if it is something that needs to be produced by others.
Product based businesses can be costly to start especially if prototypes need to be made, there are minimum manufacturing quantities and you need reps to get it onto the market but they can make great money, especially if the product is consumable and people keep needing more. If you can sell your product online that is the best possible scenario as it removes your hours from the money made, which is the whole purpose of having your own business!
- Is it a service you can offer on your own?
- D you need to employ other people? What will this cost?
- Can your service be sold online?
- Will you be selling your hours for money?
- Will you be able to take time off?
- Do you have the right qualifications to offer this service legally?
Service based businesses can mean taking up a lot of time for little money and also that there is a cap to the amount of money you can earn (there are only so many hours in a day.
Service based businesses are much cheaper and much easier to start up than product businesses so, especially if you are thinking of doing something part time, this may be an option for you.
So think carefully about this one. If yo can offer a service that doesn't bind you to time or if you can find a way to duplicate the hours by employing people for less than you are charging the customer, then you can make it work.
Important questions to ask and researchWhat resources / skills do you have available right now?Have you ever had a great idea of a business that might work?Have you ever needed a product or service that nobody seemed to be offering?Is there really a market for what I want to do? - Ask your friendsHow much profit can I make per products?How many product per month / per day would I need to sell to make up my salary?Who exactly is my target market? - Be very specific
Here are some examples of easy to start and easy to run businesses that you could do:
- Start a franchise - https://www.franchisehelp.com
- Resell popular products like Avon, Tupperware, Honey, Herbalife or Sportron
- Offer handyman, mechanic, construction, house alterations, plumbing or electric services - There are several basic courses available.
- Offer sewing, clothing alteration, dress making or interior decorating services
- Offer accounting, graphic design, admin, filing or bookkeeping services.
- Become a personal trainer or a life coach
- Become a proof reader, free lance writer, freelance song writer or start a blog on something interesting.
- Start a garden service, pool maintenance or landscaping business
- Become a photographer
- Start a house or car cleaning business
- Become a massage therapist or a reiki, cranio sacral or bodytalk practitioner.
- Open a salon or a spa
- Start a tutoring business or teach a musical instrument or a skill you know
- Build an app or start a consulting firm
- Become a event or a wedding planner
- Open a restaurant, bar, club or coffee shop
- Open a creche, baby hotel for sick kids, after school facility or baby classes like yoga, music or ball skills.
- Open a dog training centre, dog grooming parlour dog walking business.
- Start a seniour citizen assistance business
- Start a printing business - T shirts, caps, pamphlets, posters, etc.
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