And in terms of #4 (Being Different), I can still remember driving home from a pretty boring ed policy conference in Lansing, MI, and thinking, “Geez, why did I go to this?” when it hit me: I can be different by bringing a somewhat irreverant, non-freaked out approach to education (and, in particular, the standards that I’m niched into). There are 3.5 million teachers in the USA, and if even 10% of them are like-minded folks who simply refuse to freak out with Chicken Little dances, that’s a great market.
I could go on and on in this post with more tips about the success of your online business but what you should keep in mind is that the internet is constantly changing at unimaginable speeds and you have to keep up with it. But the principles of how to start and grow a successful online business haven’t changed at all. If you’re a newbie, still to this sequence and research more on each step to get better results. If you’re an existing online business, it wouldn’t hurt to revise your old game and these out.
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Get ecommerce software. You'll need this so your customers can view your products, enter their information and make a secure purchase. The software safely stores customer information. Don't skimp in this area, since the ecommerce software you choose will make a big difference in how easy it is for customers to feel secure buying something from your store.
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14. Get organized. “Organize your files—both in your computer and your paper files—so that everything is easy to find,” Edwards suggests. “The average executive spends three hours a week looking for things—that’s more than 3.5 weeks a year. As your own boss, you can’t afford that. Use color coding for file folders and computer diskettes to make them easy to recognize. Printed labels, which you can create with your computer or a separate label-maker, help readability.”
Perhaps most importantly, though, would-be eBay moguls need to specialize. Just throwing junk online won’t work. Sellers need to know what they want to sell and how they’re going to market it to their audiences. Again, competition is fierce, so research, preparation and strategy are critical. (For reference, eBay itself provides an extensive guide to selling on the site.)
Ask your accountant and/or local IRS agents about filing tax forms, tax payment schedules, obtaining an EIN number, and allowable deductions. Have your financial advisors setup an organized business record keeping system with software that enables you to monitor your cash flow. Set up a business bank account and a merchant account if you will be accepting credit cards for payments.
Obviously some of these small business ideas have more earning potential than others, but what they all share in common are relatively low barriers to entry and the flexibility to work at them for a limited amount of time per week. I also tried to focus on side business ideas that have some sort of online component to them, since that's what I love most.
Your business structure will have a big impact on your startup, including taxes, liability, and other facets of your business. Possible business structures include: sole proprietorship, limited liability company (LLC), partnership, and corporation. Business structure decisions can be complicated, so consult with a tax professional, attorney, or other qualified expert to explore the pros and cons of each structure. For whichever structure you choose, you will have to meet your state’s filing and registration requirements.
A friend in Boston made a living doing this. He had lived in the Netherlands and was fluent in Dutch. He contacted companies who sent people to the Netherlands to work and live, and offered to provide not just his language expertise but important information on Dutch culture and living in the country. It worked. If you’re from or have lived in another country, consider channeling not just your language but your cultural expertise into a new career.
Home based business opportunities are everywhere: There are 38 million home-based businesses in the U.S. — this means that starting your own business from home is more common than you might expect! Your neighborhood might be full of home-based entrepreneurs who are succeeding in business on their own terms, working from home and perhaps selling online.
Do you need to build from scratch? Also keep in mind that depending on your particular business, it may or may not be necessary to build (or pay someone to build) a site from scratch. Especially when you’re in the early stages, options like Squarespace and Shopify simplify the process of setting up an ecommerce site by providing templates that don’t require much if any knowledge of HTML or coding.
I find that a lot of people want a turn-key business – one that doesn’t require a lot of capital to start and maintain. Unfortunately, the majority of the businesses listed here either require significant start-up costs because in a lot of them you need liability insurance, licenses, money to buy the inventory to start the business, and or a physical location in order to operate.
The solution is simple: Buy traffic through PPC search engines. Pay-per-click advertising is the easiest way to get traffic to a brand-new site. It has two advantages over waiting for the traffic to come to you organically. First, PPC ads show up on the search pages immediately, and second, PPC ads allow you to test different keywords, as well as headlines, prices and selling approaches. Not only do you get immediate traffic, but you can also use PPC ads to discover your best, highest-converting keywords. Then you can distribute the keywords throughout your site in your copy and code, which will help your rankings in the organic search results.
Another starting point is to have an idea that very few people other than the founders can actually build. These technical feats provide a natural defense against competition. Remember, every hard problem you solve drops a massive obstacle in front of anyone who’d want to replicate you. Certain problems haven’t been solved because none of the few people smart enough to do so have made it happen. Look at something like Google, which co-founders Larry Page and Sergey Brin were technically capable of building at a time when not many people were. Back then, there were very few people smart enough to build their own search engine let alone imbue it with software that could crawl and rank the entire World Wide Web.
The whole “building an audience” is challenging for me. I’m not much of a blog subscriber myself, and so I’m really not quite sure what makes a blog tasty enough for someone to subscribe to. I solve more of a technical business problem… one of those things that if you need it, you REALLY need it now. And if you don’t need it, then you’re not really interested in getting weekly updates talking about it (I would imagine).
This site is EXACTLY what I was looking for. I am a fit and frisky 56 y.o. single dad working 2 jobs, with an unquenchable thirst for learning new things. I’ve been surreptitiously studying the New Thought writers (from Atkinson to Proctor right up to some of the really sharp, young people creating YouTube videos). I think I’m getting a grip on the self-motivation and metaphysics of the whole thing, but am too scattered to decide exactly what kind of business to start! many of your 27 ideas I have some familiarity with (one of my old army buddies got me in to Bombardier Transport in early 2011 for 3 months to help meet a deadline on some tech pubs…it was a lot of fun! I was told I’m a natural, but could not find any more jobs in that sector….Oy Gevalt). Anyway, thank you so much for this site! I can give you a progress report every few months or so (including showing you how any websites I may be creating are doing). Happy New Year!
Raw Generation is a raw juice company that launched its ecommerce store through Shopify, only to experience little success in its first 6 months. But you know what they say, where there’s a will there’s a way, and owner, Jessica Geier, was determined to find it. Raw Generation used deal sites to take the company’s monthly revenues from $8,000 to $96,000!
Here’s an instant going-out-of-business plan, no matter how hard you work: Charge your customers less than you’re worth. Why would you do that? Well, some people charge less than they’re worth because they don’t realize exactly how much they are worth. Others charge less than they’re worth because they are embarrassed or afraid to ask for an amount that reflects their true worth. Whatever the reason, if you don’t get paid what you’re worth, you are putting your business at risk.
I spent an evening playing with the host's online demonstration. After 10 minutes, I worked out how to change the website template, pictures and text. In my haste, however, 10 minutes later I had to discover how to recover a broken website by opening and reading the manual for the first time. My wife will testify that this isn't something I do often. I was amazed how easy the program was to use. It is just like using MS Publisher or Google Docs and requires no knowledge of HTML coding.
Motivate yourself. Sit down and set some goals for yourself. You no longer have quarterly reviews or progress reports, so it's important to keep track of whether or not you're making progress in your business. It's one thing to set small goals like completing your to-do-list--you also have to set goals to motivate yourself to succeed. Hopefully by now you're making as much, if not more, money at your homebased business than you were at your former job. If you aren't, begin by setting a goal to bring in the same amount of income you were, and slowly raise the bar to increase your income by a couple of thousand a month. Once you've met a goal, make time to reward yourself by doing something fun, which brings us to the next tip.
Are you an extrovert that loves meeting new people? Selling insurance products—particularly life insurance—may be a great way to bring in some extra cash and build residual income in your spare time. Selling life insurance on the side could quickly generate a consistent $1,000 - $2,000 per month depending on how much time you invest in this side business idea. To get started you’ll likely want to take an online course to brush up on the subject matter, and then pass a state licensing exam. The biggest challenge you'll face as a new agent is generating sales beyond just helping out friends and family. From there, it’s all about networking and lead generation to grow this one. Learn more about this side business idea with this getting started in life insurance guide from the team over at NoExam.
If you don’t mind doing other people’s chores, then TaskRabbit may be the right side business idea for you. Earn a little side money doing odd jobs like walking your neighbor’s dog or mowing Mr. Smith’s lawn. Running errands not your style? Tell that to the top taskers on the portal who reportedly earn as much as $7000 a month, making this a full-time business idea for some.
Yoga is getting ever more popular, which means yoga instructors are more in demand than ever—making this another physically rewarding side business idea. Link up with a local yoga studio to teach nightly classes or offer personalized yoga in-home at a higher rate to pursue this kind of emotional and physical balance with others, during your free time while helping your bank balance, too.
76. Create a sustainable routine that signals the beginning and the end of the work day. “One of my earliest clients was a software coder, and he would go to the local diner early in the morning to look at the paper, eat breakfast, and [hang out] with locals. Then he would code for seven hours, and when his wife came home from her job they would take a walk, and that was the end of the workday—no more coding until the next morning,” says McGraw.
Small businesses know they have to get online, but finding the time to figure out how is proving a real challenge for small business owners of every stripe. If you're Internet-savvy and know how local businesses can harness the power of local search, coupon pages and social media, you could be working from home helping small business owners promote their companies online.
Need help deciding which business structure is right for you? Try our Start a Business Wizard or check out our handy business structure comparison chart. LegalZoom’s business formation services include filing your paperwork with the state, obtaining your EIN from the IRS, and connecting you with independent lawyers and tax professionals through our business legal plan to answer any questions you might have.
Evaluate the pros and cons. The fact that your customers will have to visit the third party to buy from you has benefits and drawbacks. If you are interested in renting out your vacation property, using Airbnb’s platform means that it will probably be easier for anyone to find you when they search for lodging in your area because of Airbnb’s growing popularity.
13. Have backup. “Have subcontractors in mind, should you get enough business to warrant bringing them onboard,” says Michelle Garrett, founder of Garrett Public Relations. “I’m a one-person shop, so there are times when it’s nice to call a colleague and give them some projects to work on on my behalf when I’m feeling overloaded. What you want to avoid is getting into a situation when you need help and then trying to find subcontractors. This can be extremely stressful.”
This is a man who on our first envelope job bought us our furnace gas heater by paying us upfront half the money he would have topay when the job was done. He was so concerned we had no heat he paid us before we even started writing out the envelopes…I felt so bad to see when I called him 2 months ago someone answered it but was not him or his family. I fear he lost his home:( If he hasn’t we would still be in the back of his mind for envelope work knowing we are his people to get the job done.
If you know how to make jewelry, there’s really no reason not to sell it. Handmade jewelry has long held appeal for collectors and admirers alike. The biggest challenge to setting up a jewelry business might be running the business itself—just making beautiful things won’t be enough to sustain the operation. Study up on what it takes to run a jewelry business and then make it happen. A great place to start is online with sites like Etsy and eBay
A lot of people with middle-class income would like to create a robust investment portfolio to secure a financially stable future but simply have no clue where to start. If you have professional experience as an investment analyst or do a lot of investment yourself, then offering investment advice for middle-class investors is a natural move for you.