Nothing can beat the feeling of working for yourself. Even when you love your job and believe that it is rewarding, the satisfaction you achieve when you are your boss is a different feeling. Not only this is more meaningful, but it comes with so many advantages. While it may seem tempting venturing into a new market, mainly if you are a startup, it can be tricky, and let’s face it, risky also- you are spending more hours than when you were doing a 9 to 5 job somewhere else, and there will be moments where you may be sacrificing a lot more than your time. Even then, it is worth it. If you are planning to start your startup, then here are some interesting startup business ideas that will help you set your business.
While planning to start your own business, the first thought that might have come to your mind was perhaps, “ What should I sell?” or “ Which market segment can help you earn maximum money” or “what are the skills required to start a business?”
We have created a list of best small business ideas in two different categories: Product-based business and service-based startup business ideas. We hope with this you will get an idea about the different segments that you could choose and what they would offer.
Top Startup Business Ideas
Service-based small business ideas
Purchasing websites- Just like property and stocks, in our interconnected world thanks to the internet, websites also have a high value. Even while you are reading this, websites are continuously being purchased or sold for hefty costs. Various factors affect the value of a website online, like the amount of traffic it gets, the domain name, its popularity, and profits that the website earns. While this is one of the lucrative small business ideas, it needs an in-depth knowledge of the market, however, once you understand the process of how it works, you could potentially earn a huge amount of money.
Online coaching- This is one of the best startup business ideas especially for those who love teaching. Creating a YouTube channel with tutorials, setting a blog to help people understand the concepts, creating online courses- there are a variety of things that you could be doing. Online coaching can be a profitable way of earning money, however, ensure that you do not oversee yourself online or to a client as their success mainly depends on various things that may not be completely under your control.
Online assistant- Are you organized, good with multi-tasking, and are meticulous about your task? If so, chances are there that someone is looking for a virtual assistant with your skills and would be interested in paying you well. To start, you can look for assistant roles on different job search platforms. This job will let you make contacts in an industry that you want to ultimately end up in. Moreover, as an online virtual assistant, you can decide your working hours, can have a flexible work schedule, and you will not be tied down to a specific location because of the remote nature of this role.
Vocational consultant- If you are leaving behind a corporate job with several years of experience to start your venture but have no clue about where to start, then this may be the right option for you. Many want to learn how to clear a promotion interview or ask for a hike, or just land a high paying job. If you have useful tips for them, then you can start your consultancy and people will be interested in paying a good amount of money to learn the tricks. If you are not ready to start a website or just want to do a test, you can sign up on platforms like The Muse or Coach Me where others are searching for people who can mentor them.
Graphic designing- There is a rising demand for graphic designers in the market. If you have the current skills and knowledge of different design platforms like Photoshop, Adobe Illustrator, then you can sign up to Upwork or Fiverr or find remote jobs on sites like Jonspresso. However, if you do not have the required skills, you can always sign up to Skillshare and join a graphic designing course and then practice. Businesses need more and more graphic designers to create banners, logos, design campaigns, social media posts, products and packaging and so many other processes that we do not even realize- so keep practicing and before you realize it, you may be breaking up customers with ease.
Blogging- While many still do not consider this as a business, bloggers are one of the highest earners on the internet as they expand their portfolio after establishing themselves and have a sizable customer base, Your blog can be about anything you want and chances are there you have an audience for it. If you are planning to start a blog, you must constantly work on improving your writing skills and come up with new and engaging content ideas. Listen to what your customers want and offer them that, all while maintaining your unique voice. Once you know how to straddle the line perfectly, you can get sponsors involved, use affiliate marketing and social media channels to attract traffic to your site for monetizing this procedure. Now some bloggers are traveling the world for free, have media empires of their own in their respective fields and are regarded as influencers with a high value.
Product-based small business Ideas
Sell customized products on Amazon- One of the fastest and cheapest ways to make money online is by selling products on Amazon. You can find virtually anything that you want on the huge online market and interestingly, the people who are selling the products you purchase are third-party sellers. The best part of this job is that you do not need any specific skill set or be good at any one thing to earn money on Amazon. Just have a functional knowledge of the present customer trends and the markets, which can be developed through research and develop a strategy that will work for you and your brand in the future.
Handmade jewelry- There have been many who have founded successful businesses by creating handmade jewelry. Platforms like Etsy are one of the biggest markets where everyone from novice jewelry manufacturers to experts can sell their products. There is a huge demand for custom-made jewelry and even young people have been able to build thriving brands that provide a wide range of unique items. Everything from traditional and classic pieces to exceptionally quirky statement pieces is appreciated in this market and this area is currently growing at a rate of 5 to 6% in a year.
Selling custom clothing- One of the best small business ideas that you can choose to earn money easily is custom clothing. Just like custom-made t-shirts, custom made clothes are also becoming popular. If you can create fashion-forward clothes that have an edge to them and are catering to the taste of your niche customer perfectly, then you may earn a lot of money. It is not hard to find buyers in the market, mainly on platforms like Etsy and if fashion designing has always been your call then this is the easiest way to break into the segment for those who are a bit risk-averse.