Interested in starting a business today? You’re not alone.
More and more people start small businesses as a side hustle and turn them into the main source of income. The advancements in the digital world allow for making money regardless of borders, time zones, and even the main occupation. The possibility of leaving the 8 to 5 job and making money by doing what you really love turns it into an irresistible opportunity.
If this seems like a dream, go for it! Here are the best ideas to start a small business in 2020.
Sell Your Expertise
The market of e-learning is a very lucrative area for exploration. Forbes ensures that by 2025 it will be worth $325 billion. Such high numbers combined with modern technologies create a unique opportunity to turn your professional knowledge into a strong flow of income.
Think about the knowledge you possess and the skills you have. Think about them as your main resources. Is there something that might be interesting to other people? Maybe you can provide them with unique insights into some sphere of your professional life, tell about technologies, or teach languages.
The possibilities are limited as long as you bring value. You can start at Udemy and other similar platforms that allow you to create and sell your courses, or you can create a YouTube channel or website, write ebooks, or conduct webinars.
Just look at the guys at Safetrading.today who turned their immense knowledge about crypto into a successful and prospering startup dealing with crypto trading.
Dropshipping
Never heard about this term before? Not a problem. You are about to get acquainted with one of the most popular ways of starting a business in retail.
Dropshipping is a model of an e-commerce business that allows anyone to run an online store without owning stock or keeping inventory. Instead, you find dropshipping partners, place their products on your website or a marketplace at a markup, get orders, and send them to the dropshipping company.
The best part about dropshipping is that you need to make a very small upfront investment and don’t have to deal with shipping products to your warehouse, storing them, keeping check of your inventory, and sending them to customers. All these tasks are carried out by your dropshipping partner. You act as an intermediary between your partner and buyers.
Affiliate Marketing
Do you already have your own online website? Maybe you have a successful blog with a huge base of fans? Then you should try your luck in affiliate marketing.
Affiliate marketing is a sphere of business that is dedicated to offering someone’s products and services on your website, blog, or in your social media. When you become an affiliate, you get a unique link that leads to the product that you try to sell for a company. Usually, they pay some fee from the sales you generate or the number of new clients you bring.
Affiliate marketing is not an easy task. It requires a lot of dedication, the ability to advertise the services of your partners, and a huge audience that usually visits your website or blog. Still, it is worth trying this type of entrepreneurship.
Membership Programs
This type of business is especially popular among coaches – fitness, nutrition, personal, professional, and more. The creation of a membership program is a business that will generate income for many upcoming years.
Membership programs are designed to help people succeed in something by providing valuable information they don’t have access to for some payment. Such membership programs can be presented in forms of marathons that last for a week, month, or a few months during which you provide clients with useful information and motivate them to achieve their goals. The only secret to thriving in such a business is to create membership programs only if you are a real professional in some field and can offer real value.
SaaS
There are a lot of life spheres that could benefits form SaaS (Software as a Service) solutions. That’s why today is the best day to launch a startup that will make the lives of people easier. It can be anything, from solutions in the e-commerce sector to healthcare app development.
Such type of business will be the most beneficial for professionals who have technical and coding experience. It is possible to start small, create an MVP (minimum valuable product) to test an idea, and later employ other specialists if you have successfully validated your business concept.
SaaS market is projected to grow to $60.36 billion by 2023. Right now, it is the best time to start working in this direction.
Freelancing
We live in an era when you can work from anywhere in the world. Thanks to such freedom, more and more people leave their work at offices and start freelancing. This allows for exploring the world, pursuing personal goals, and being more independent.
Starting as a freelancer, you can gradually generate the base of loyal customers. If you are lucky enough you can even find clients who will work with regularly.
There are a lot of options for professionals in almost any field, including development, all types of marketing, SEO, copywriting, design, and more. This way, you will be your own boss and will be able to work whenever you want and with the clients you choose.
Why Should You Start Your Own Business in 2020?
Here is what you will get once decide to launch your own business:
- The freedom to live anywhere or travel the world
- A flexible work schedule or no schedule at all
- Being able to do what you really love and live a happy life
- The ability to work only with clients you choose
- The capacity to make our world a better place with the value from your offering
To sum things up, if after weighing all the pros and cons you decide to start your own business, start the one that will be connected with what you love to do. By turning your hobby or interest into a business, you will enjoy every single moment of your work and your customers will be able to feel your dedication. This way you receive your reward both monetary and non-monetary.
