This post contains affiliate links.
When you buy something using these retail links, we may get a commission.
Have you ever considered starting your own business?
Have you also told yourself that it is not the right moment? It is the right moment! And here is why:
For a beginner the best business to start is a service business, that is any kind of business where you sell services. Do you have any skills or experience? Sell them! This way you save money as you don’t need to create products or goods. The examples of such businesses are:
- You become a coach or a consultant and sell your expertise.
- You provide a service for homeowners such as house painting or cleaning.
- You sell services online to individuals or other businesses, for instance, social media marketing, website design, or virtual assistant services.
How is it different from being an employee. It’s quite different. You are in charge. You are building a future asset that is — your business.
Some reasons service business is the easiest:
You need little to no startup cash
- You don’t have the expenses of renting office space;
- You don’t have to develop a product;
- You don’t have the expense of hiring employees;
- Your expenses might be as little as the cost of a website (or if you prefer old-fashioned way – business cards and flyers);
Fast to Start
This business is the fastest type to start as you don’t need a lot of advance preparation.
- Launch your local consumer service business by spreading the word in your neighborhood.
- If you decide to do consulting for individuals or businesses, establish a profile on LinkedIn, join Fiverr, Freelancer.com and Upwork. These marketplaces are a great way to get clients.
- You don’t even need your own website at first. However, this would be your step number two.
With any service business, it’s critical to find the right marketplaces and referral sites.
Generate money fast
Service businesses bring money quickly. In most cases you get paid within several days or weeks.
Offers a decent profit margin
These businesses have some of the highest profit margins as you don’t need a lot of inventory to perform a simple service. As a result, more of your cash drops to your bottom line.
Start it on the side
It is possible to run a service business on the side while still in school or employed. This is the best part about starting a service business. Set your own goals and your own tempo. Then gradually build a business, keeping your financial risk.
Develop other skills
As a bonus, while your are starting your own business, you will have to work on some other skills. You do not have to be a tech person to start your online presence! There are plenty of services suggesting ready-to-use solutions, for example, Leadpages. Start with 14-day free trial and if you feel like it works for you, invest $27 for a Standard plan with 1 website, domain and tech-support!