Some businesses arrive and depart about as quickly as sunrise and sunset — think cookies or cupcakes or donuts. Sort of like a one-trick pony, catering to a fleeting taste is far riskier than seeking to serve a market niche with enduring demand. Related: The Entrepreneur’s Checklist: 7 Things You Need To Start A Business Sure the new cupcake confectionery might be jammed for the few months after opening, but after a while, people may start to crave cookies, banana bread or brioches and they’ll likely end up at the full-service bakery that supplies a treat for every mood. On the other hand, some things, like certain services, just never go out of style. Think about what you need on a regular basis, related to household maintenance and upkeep, educating your children or taking care of aging parents. So when you’re contemplating starting up a new business, always consider long-term viability, larger market forces and filling an ongoing market need. You can find plenty of choices in the service sector. Among the options are:
In 2014, Nick Walter made $66K while he was still in college. He did it by creating a simple video course on how to learn to program an iPhone app. He literally recorded himself learning how to use Swift, a new iPhone app programming language. He then uploaded the videos to Udemy.com, and sold the course for thousands. In his own words, anyone can: Today, his newest course has over 6,000 participants and a 4.5 star rating. Having done a little online research on Nick, here's why I think he was so successful:
Hate your job? Worse yet, you fear your employer may cut your department at any time. Argh. What to do? Save your career by going out on your own! Maybe it's time you start your own business. Related: Top 5 Reasons To Start Your Own Business. Click here to find out! All you have to do is pick up the newspaper to see how many corporations regularly “downsize” their workforce” while generally asking ever more of their employees. You know the story too well. Corporate profits have reached new peaks, the highest since 1929. Workers are often asked to work more hours for the same pay, especially since the Great Recession. Your life may feel increasingly out of your control as your quality of life suffers. Does this lose-lose proposition sound familiar? If you’re in a job where the writing is on the wall, you have more options than you may have realized. You have great skills you have gained with experience. How can you put that great cache of skills to work for yourself?
Retailing online has seen huge growth in the affiliate sales sector due to the trackable, data-driven nature of online sales. For many popular products there are hundreds of websites and apps that provide product reviews, that feature a link to a retail website. The model is that if a visitor to the review website buys from the retailer, the owner of the review website earns a commission fee on the sale. Related: 5 Goals To Reach Before Opening Your Own Business While there are always some ethical concerns that consumers might not be clear about, affiliate programs often encourage transparency in their policies. A common model for aspiring retailers to follow is:
If you’re one of the 90% of Americans employed full-time by someone else, chances are you’re not feeling much satisfaction at work. Some of you are stuck with a boss who makes your lives miserable, while others may be merely bored or vastly under appreciated. Maybe you should become your own boss and start a business. Related: 10 Must-Haves For The Budding Entrepreneur Only 30% of Americans are actively engaged in their jobs, according to a recent Gallup report, State of the American Workplace. Not only does being unhappy at work lead to a whole range of obvious complaints, it can also take a toll on your health, the survey reported. One way to improve your situation is to strike out on your own. So, how do you know if you’ve got what it takes to run your own business? Just like most things in life, what separates the whizzes from the rans is preparation. Do your research, write a realistic business plan, raise sufficient capital, and your odds for success go way up. Even before you pinpoint your business, you’ll need to start by asking yourself key questions to determine whether you’re ready to leave a sure paycheck for the chance to take charge of your career for life.
So, you’re thinking about opening a little shop around the corner where your friends can always find the bauble of their dreams or, perhaps, a charming little bed and breakfast to be your own vacation paradise. Related: Lack Experience In Your Preferred Business? Try A Franchise Maybe you’ve got the TV ideals in mind, like the bar in “Cheers” — “Where everybody knows your name” — or the little Vermont inn that Bob Newhart called home for years. But running a business is much more than sugar plums and fairies. Your most important consideration: The business of the business. While it’s good to have lots of ideas and a passion for creating a business you enjoy, you don’t want to skip the mundane-but-essential practicalities. The danger: Instead of getting the business of your dreams, you may end up with an efficient mechanism for draining your savings.
You’re thinking about buying a business. You’ve set out a list of criteria, but have you included image? Can you separate the dollars and cents from the sense you get from the business? Or do some businesses give you the heebie jeebies, even if they are known moneymakers? Are there businesses you would rather not associate your name with? Related: The Entrepreneur’s Checklist: 7 Things You Need To Start A Business Let’s be clear, we’re not talking reputation, but image. Do you see yourself driving the Cadillac, or is any motor on wheels sufficient? Both will get you to the place you want to go, but you may feel that extra ounce of pride driving one over the other. Like beauty, image is in the eye of the beholder, but you may have already decided certain businesses are not for you, whether these be drug-testing, check-cashing or janitorial service operations. Maybe you picture yourself doing something you perceive as helping people, like tutoring or providing green energy options. But when you embark on such a big decision, you want to make sure you understand all the factors before committing yourself and your money to a business that will impact your life and income for years to come. First you have to decide how important image is to you. If you’re the type of person who readily sees the positive side of things, you will see a pooper-scooper business, which goes to clients homes to clean up after their dogs, as a benefit to its customers. After all, there are people who due to disability or illness, would never be able to keep their pets without such a service. But maybe you don’t want to be in a certain type of business.
If you’ve ever thought of starting your own business, the question of “How am I going to handle it?” might be one of the first things that creeps into your mind. While the thought of being your own boss can be daunting, don’t let that stop you from starting your own business! The tips below can help you be a successful, un-stressed business owner! Related: A Simple, Effective Way To Handle Stress At Work (Or Anywhere) Starting something new, regardless of what it is, can be stressful. And let’s face it - stress is never fun. But, if you can learn to manage your stress, you’ll be able to handle just about anything that comes your way. According to this Huffington Post article, eight out of ten Americans are stressed about their jobs. Jan Bruce, CEO and founder of meQuillibrium, an online platform and app that digitally coaches users to help dial down stress levels, and co-author of 14 Days to Cooler, Calmer, and Happier, offers some insight on how to deal with these stresses. Here are Jan’s three simple steps to manage the stress of being your own boss: