Be a curious customer before becoming a business owner.
Since plenty of online jobs are available, breaking in can be intimidating; for a job seeker or Founder. Hence, being aware of the business world helps. It’s certainly not a prerequisite. In today’s world, anyone with a business idea can run a business. However, developing an innovative idea becomes more effortless when you’re aware of the in and out of the upcoming and existing businesses.
After all, about two billion websites are on the world wide web. You don’t just want to be one of them! To help you come up with a unique business idea, we’ve compiled a list of five ideas you can consider picking from.
1. Be a freelancer
Around 46.5% of the global workforce is self-employed. The stat says a lot about the viability for people to make money complementary to their regular nine-to-five jobs. In fact, many freelancers report an increase in income compared to their previous full-time job.
So, freelancing is not only a viable but a profitable option for professionals with prior work experience, as they can use this experience to build a network and establish a professional brand.
Related: Complete Freelancing Career Guide
While you can freelance in any industry, the following are the most prominent and demanding industries:
- Web development
- Graphic design
- Content and copywriting
- Content editing
These sectors are the most in demand when it comes to the freelancing world. To start your journey as a freelancer, decide on a niche and a Unique Selling Point (USP) that sets you apart from the competitive pool. For any industry, you choose, create a portfolio showcasing your skills in that domain.
For instance, you write B2B content specifically targeting startups. In this case, ensure your portfolio consists of blogs focusing on the target. Also, build a profile on freelancing platforms like Upwork and Fiverr. Building a profile on LinkedIn and promoting your services there will significantly improve your online presence.
2. Consider opening an online food chain
If we had to list the number of industries that flourished during and after the Coronavirus pandemic, the food industry would undoubtedly be top. During the pandemic, people were forced to stay indoors. This allowed online food chain owners to make their businesses profitable.
If you plan meticulously, you can easily set up an online food business with minimal investment. Below listed are a few business ideas in the food industry:
Open an online bakery
If baking is one of your key strengths, open a bakery online. You need to start off by creating a social media page and posting pictures of cakes and cookies. All you need is good recipes and several molds. Once you gain a good social media following, you can build a website showcasing bakery products and taking online orders.
Include golf course food ideas in your clubhouse
When guests go to golf clubhouses, they’re often looking for a fine dining experience. So including golf course food ideas in your clubhouse will only amp up the profit. Below are a few ways to do so:
- Offer healthy food options
- Provide special diets
- Offer morning golfers breakfast on the go
- Sell certain beverages in tasting formats
Open an ice cream parlor
Gone are the days when you only had ice cream vans or parlors in summer. Nowadays people prefer it anytime across all years. Either make your ice creams or purchase a franchise from a famous company.
3. Open an e-commerce store
Whether new to the business world or an experienced professional, creating an e-commerce store is always a good idea. Creating an online store to sell clothes or other accessories is one of the best small business ideas. Start by researching trending products to find your niche.
There are about 12 – 24 million eCommerce sites across the entire globe. So standing out will only help when you have figured out your niche. While you can create a generic e-commerce store, segmenting your niche will reduce the competition in the long run.
The primary benefit of creating an e-commerce store is that anybody with a laptop and internet connection can sell goods online. You can even include a digital downloads feature to your website wherein customers can download eBooks, music, and software since they require shipping.
However, it’s essential to do thorough research before creating a store. Below are a few points to keep in mind to come up with an idea:
- Research other online retailers and consider a niche they’re not into.
- Go for a low-competition and a high-demand niche
- Decide on the business and the pricing model
- Create a concrete budget including the expenses involved in manufacturing the products.
- Consider the profit margins in mind.
Once you decide on the niche, it’s time to build your online store step by step. Thinking of the products, the target audience and marketing methods come into play when building the store. Ensure you have meticulous planning and enough budget for each step.
4. Sell hand-made goods
The internet has certainly helped artists appeal to the business world. From selling music records to hand-made Mandala wall art paintings, the internet has enabled independent artists to become businesses. Unlike merchants who need to partner with suppliers, now one can sell unique goods on the internet that users can’t find anywhere else. Hence, charging for your art and craft in today’s era is more than possible
Thousands of Shopify merchants produce hand-made goods and sell them at pop-up shows, craft shows, etc., via their online stores across the globe. The internet gives them more reach, letting them focus on honing their craft. Below mentioned are a few DIY (Do It Yourself) business ideas you can try:
- T-shirts and printed merchandise
- Hand-made jewelry products
- Gifts and subscription boxes
- Art and prints
- Bathing soaps and scrubs
- Traditional handloom products
In fact, with the rise of NFTs, digital artists now sell NFT art for millions of dollars. These business ideas have come to life through the world wide web. Dig deeper into your skillset to determine whether a DIY business idea would work well for you.
5. Be a content creator
When you create content, you build a business.
Businesses need content to promote their services. However, you automatically become a business identity when you’re a content creator, Especially when your content is relatable to most internet users. While many have fun being on social media, only a few know how to use it as your job.
Keep the following points in mind when creating content on social media:
- Know what you want to post and why
- Know your target audience
- Do your research on the available social media platforms
- Know the traffic per platform
- Know the right responses to make in the comments section
After all, being a content creator or a social media influencer is more than going with the trends and using the right hashtags. If you get the points mentioned above right, you can monetize your success by collaborating with brands and promoting their products. You’ll need a solid social media following for brands to approach you. To do so, ensure your posts focus on a single niche and reflect a unique voice.
If you’re a newbie in this domain, going through a guide to creating content will go a long way. You’ll know all about content creation–from who your target audience would be to what would be the content types. While if you’re already in the content game, it may be time to uplevel it a notch!
It’s time to pick your business idea
Success in your business will largely depend on your talents and skills. For instance, if you’ve been working in a domain for a long time and want to jump into building your business, you may be able to make your way into it seamlessly. However, if you’re a newbie, it’ll take you thorough research and talking to people in the business to kickstart your own.
Based on your skills and experience, you may have an advantage over other online business owners from day one. It’s important to ask yourself one question before starting a business: why do you want to run a business in the first place? You’re good to go when you have a concrete answer to this!
Pick an idea, build it and most importantly, keep at it!