Foraying into a small business is an excellent option to start your path towards financial freedom. Some business ideas don’t need you to abandon your day job. While some businesses after growing need hiring for some roles and you may have to give full attention to it.
The beginning can be perplexing, especially if you haven’t yet fixated on what sort of small business idea to pursue. In this article, we discuss some lucrative small business ideas for you to consider. Perform due diligence and consult with your professional advisor if you’re not sure about executing these ideas.
Whatever business you choose, an online presence is irreplaceable. And, these days you don’t need coding/programming skills to set up a website. Services like Wix let you go online with your site within minutes. Or, you can use WordPress for better customization via a managed WordPress service. For website security, do not forget to install an SSL certificate so that it builds trust with the site visitors. Many types of SSL certificates are available in the market. Just go with the one that fits your bills and satisfies requirements.
In the following discussed business ideas, if you don’t find a relevant idea to you, don’t be discouraged. This is an exhaustive list, and you can look for more avenues to inspire yourself.
Blogging
Well, you have heard many times about blogging. It’s okay if you have a faint heart about it. Like any other business niche, blogging requires constant efforts: learning from failures and refining through what is working and not working. Just putting average efforts will not make you a success with blogging.
Your blog should be niche specific, at least in the beginning, so that it becomes manageable to attract a sizable audience. Blogging is all about generating traffic and building a loyal audience. Once you have done this groundwork, you can monetize your blog via various means: affiliate links, custom advertising, selling via email lists, launching a book, and so on.
The opportunities are endless. But first, you need to generate good traffic to plan for monetization. You can test the waters by blogging in your free time. If it picks up traction, you can go all in. Some of the well-known bloggers make a six-figure income. So, the blogging opportunity is wide-open — it’s up to you to execute and succeed.
Marketing Agency
Marketing is a vital business aspect. Digital-first businesses need to do effective marketing to grow their revenue and establish a brand reputation. But not every business can maintain or afford a full-fledged, in-house marketing team. Whenever required, they hire marketing agencies on a project basis or for long-term engagement.
Executing effective marketing campaigns that bring sustainable results is an art in and of itself. If you have in-demand marketing skills, you should consider starting your agency. Or, you can learn and start your own agency one day.
However, marketing agencies should have a multitude of skills. Marketing is a big niche, and client demands can be exhausting on you if you aren’t skilled and resourceful enough, so plan on what you can execute and what you can’t.
Social Media Management
Yesterday, it was Facebook, and today it’s Instagram. For B2B businesses, it’s LinkedIn. People are spending more and more time on social media. And, brands want to be familiar with their audience by engaging them constantly. According to Statista, internet users, on average, spend 144 minutes daily on social media.
Social media presents this immense opportunity for brands to stay in touch with their customers and target audience. Like any other marketing skill, social media management requires persistent efforts and good work. If you have social media skills and can bring in results that matter businesses, you can demand top-dollar for your services.
Content Creation
Creating relevant, well-researched, and high-quality content is the backbone of content marketing — a marketing technique used for building a highly loyal audience and repeat customers, in general. According to a report by Technavio, the global content marketing market will grow to USD 269.24 billion by 2024.
Content creation includes anything from writing simple articles, eBooks, whitepapers, to create infographics and charts. If you are already a writer or someone with editorial experience, you can start creating content that can gain attraction for brands and businesses.
Web Development
Software is eating the world, said Marc Andreessen — a renowned venture capitalist. What he said still holds even today with the evolution of cloud computing. Software is moving to the Cloud and integrating cloud computing, and the model is called Software as a Service (SaaS).
Most SaaS products deliver their services via a web browser, and its development requires web programmers. According to Research and Markets, the global SaaS market will be worth USD 220.21 billion by 2022, up from USD 134.44 billion in 2018. This presents an excellent opportunity for top quality web developers and agencies.
In Conclusion
You can start the business ideas mentioned above and manage your venture online completely, from setting up, finding your first client, and delivering value to your customers. Of course, without having or building niche skills, you can’t be successful. But if you can establish in the market that you can deliver value consistently, you will be in demand. And, at the point, growing your business will be much more opportunistic.
Remember to set up your business website so that you can start building awareness and winning more clients. Also, make sure to secure it with an SSL certificate. Doing so makes your website traffic safe, and you make site visitors feel confident about your services and build an excellent first-hand reputation.
