What is preventing you from starting a new business? Are you waiting until you have more money, more time or a good idea?
In a survey by Gallup, about half of those who want to run their own business say they just need help getting started. Two thirds say they don’t have enough money in savings yet. Another common reason people gave was that they were worried that the business would take over their lives.
We’d like to suggest some businesses you could start to address all three of those worries. These are business ideas that you can get started on today with very little initial investment. The secret to work/life balance is choosing a business that matches your skills and interests. It will never feel like work when you are doing what fascinates you.
Start here to prepare for launching a new venture or expanding your existing one with services that the market badly needs.
If you care about health and wellness:
Why put work on hold while you can work out? Do both at the same time. All you really need is certification in your area of specialty and a social media account. For example, the American Council on Exercise (ACE) can help you get certified as a personal trainer for under $1000. The National Association for Fitness Certification can help you open a business as a nutrition consultant or yoga instructor. Network with other fitness professionals to discuss teaming up so you can share marketing costs and lead development. Each of you can specialize in audience type, such as seniors, young adults, recovery after illness or weight loss. Talk to businesses about running programs for their employees to boost productivity and engagement.
1. Wellness Advisor/Nutrition Consultant - Work from home or coworking space
2. Personal Trainer - Work from local fitness centers
3. Yoga instructor - Work from the park district or a community center
4. Non-certified in-home caregiver – Work from your client’s home
If you know how things should go:
Everyone seems to be busy all the time. That’s why solutions that deliver convenience and simplicity are extremely profitable. If you want to run a business that will money right away, save people time and effort. That’s why so many home delivery businesses are finding funding. Did you know that the average small business owner spends 200 hours per year trying to understand how regulations apply to them? Did you know that the average small business is losing $26,041 per employee per year due to inefficiencies? All you need to do to fund your lifestyle is save them time, money and frustration.
4. Home/business organizer
5. Event planner
6. Personal assistant
7. Legal/regulatory researcher
If you are good with numbers:
Everyone needs help managing their money. New York University’s comparison of 7000+ US firms across 100 industries found the average net margin in 2017 was just 5.1%. Financial services firms (not including banking or insurance) earned an average 21.77%. Why not use your talents to earn 4X as much as the average business? These are some of the lowest cost, highest profit businesses in the world today. It’s actually easier to become licensed as a financial advisor than it is to be hairdresser. Most of the costs are associated with studying for the Certified Financial Planner exam.
8. Registered broker-dealer
9. Insurance agent
10. Investment adviser
We know there's much more to starting a business than having a good idea, but one thing you don't need is an expensive phone system. Spoke can deliver all of the big company phone features you need at a tiny price. That way your customers have faith in your professionalism, no matter how small you are at the moment. Try Spoke for free and discover how to save 80% off the cost of a traditional business phone system.