Let’s talk about some small business concepts. Finding the ideal side business ideas and finally becoming self-employed is more important than fantastic rewards and good benefits, no matter how pleasant your full-time job is.
luckily listed 5 of the top small business ideas for young entrepreneurs to start now in this guide. Choosing a career in entrepreneurship is a big step, and you must pursue the right business idea if you want to be successful.
Once you’ve experienced the lifestyle benefits of being your boss, it will be difficult to return to a full-time job. One of the easiest ways for you to get traction with your new venture is to start it on the side of your day job that pays the bills. So, let’s have a look at the top small business ideas for entrepreneurs in 2023.
And, as you’re surely aware, one of the most proven profitable small business ideas you can start working on right now, with some of the lowest startup costs, is starting your blog.
5 Small Business Ideas to Start in 2024 (& Make Money) for New Entrepreneurs
If you, like many new entrepreneurs, have a lot of questions, don’t worry. I have answers! Here are some of the most common inquiries (FAQs) I receive from new, starting, and aspiring small company owners:
No, and let me explain why. Taking the effort to create a business plan before starting your small business will greatly boost your chances of success. However, rather than creating beliefs, it is far more important to invest your time in getting to know your target clients and discovering how you can effectively solve their relevant concerns.
The primary purpose of developing a business plan is to ensure that your idea has a well-established market of potential clients and to offer you reasonable confidence that your solution will help those customers address the problem you’re hoping to solve. A business plan is only useful if it is periodically revised based on real-world learnings that can only be obtained by really helping people solve problems and getting paid to do so.
Simplify your approach and take little movements ahead. Rather than stressing about how you’ll get to a million dollars or having your product on shelves in Target stores all over the world, concentrate on the modest things you can do right now to move closer to your ultimate goal—helping real people solve real problems. Follow the simple steps in the following FAQ for beginners to get your business idea off to a good start today.
If you want my opinion on any small business ideas you’re thinking of beginning, leave a comment at the bottom of this guide and I’ll give you my thoughts! Now, on to the first (and, in my opinion, finest) small business idea on our list: beginning a blog.
1. Start a Blog
This is one of the top low-cost small business ideas you can use right away.
Do you believe that blogging is no longer an appropriate form of income? Consider again. According to recent blogging statistics, tens of thousands of bloggers (including yours truly) are providing profitable material on a wide range of blog themes, including scrapbooking, home cuisine, travel, movies, lifestyle, business, personal finance, and more.
The best part about this tiny company concept? It’s not expensive to blog—about $65 per year. And, on average, bloggers earn around $45,000, with most bloggers earning between $38,440 and $51,906 while working from home and setting their own hours.
More and more people are turning their blogs into six-figure businesses by combining email subscribers, affiliate marketing, blog sponsorships, and other revenue streams.
Your first step in beginning a blog should be to quickly master the technical side of things (my free master course on blogging will show you how), followed by knowing what your audience wants and learning how to attract those readers online.
If you want to expedite the process of launching your blog, I recommend setting up quick, affordable, and simple website hosting with a company like Bluehost or one of the other best web hosting plans for bloggers, working through the process of creating a blog business plan, coming up with the right blog name idea, choosing a simple WordPress theme, and working on your first post—to set the precedent of prioritizing your time on creating content, connecting with (a) community, and working on your first post. You’ll also need the correct blogging tools to help you expand your blog along the road.
2. Graphic Design
This small business idea is great for creative types who want to monetize their skills.
While a formal experience in graphic design is certainly advantageous, it is still extremely simple to master the fundamentals of graphic design on your own. Adobe Illustrator and even more user-friendly tools like Stencil and Visme are making it possible for anyone with two opposable thumbs, a bit of creativity, and motivation to earn a side income by designing (and selling) images like these motivational quotes that can be printed onto posters and sold on platforms like Etsy. You can also look for a local startup, small company owner, or photographer who could use some extra help designing or editing photographs.
But before you can graduate from a side business and start earning a full-time living as a graphic designer, you’ll need to build your skills—I recommend starting with Graphic Design School and Steal Like an Artist, Austin Kleon’s incredible book about how to become more creative. Check out the online courses Graphic Design Fundamentals and The Graphic Design Bootcamp to expedite your education as a graphic designer—just be aware of how much AI is influencing the future of careers like logo design and graphic design.
Once you’ve mastered your craft, you may advance your schooling and offer more hands-on experiences like design sprints or more in-depth sorts of content to higher-value clients all over the world.
3. Web Development
Most people in this business start by learning how to code.
As a web developer, you will gain tremendously useful skills that are in high demand. With inexpensive or free online education programs like Treehouse, the Web Developer Bootcamp on Udemy, and CodeAcademy, you can learn to build websites in as little as a few months.
If you don’t find what you’re searching for, here’s a list of the 45 best free places to learn to code. Once you have mastered HTML, Ruby, Python, Javascript, or CSS, you can start freelancing as a side business idea to create your portfolio and pitch clients on building a new blog layout for them all while still working full-time. Also, check out my audio interview with Laurence Bradford about her road to becoming a freelance web developer. Over time, you’ll develop more relationships, gain more experience, and eventually transition these types of business ideas into a full-time source of revenue.
4. Web Design
This business idea is the perfect blend of creative and analytical.
Web designers are extremely valuable to technology companies, which is why working as a freelance web designer is one of the top small business ideas available today. Mastering the art of providing a beautiful, value-driven experience for individuals who use a website or app is central to web design.
There are always new websites that require skilled web design, and core literature such as HTML & CSS: Design and Build Websites by famed web designer Jon Duckett and Don’t Make Me Think by user experience legend Steve Krug will set you on the right track to swiftly determining whether or not becoming a web designer is a suitable side business option for you.
Then you can progress to more actionable online courses, such as Modern Web Design on CreativeLive and Learn Web Design and Profitable Freelancing on Udemy, which will teach you everything from basic web design knowledge to earning your first freelance income as a web designer. Furthermore, you can take even more immersive courses and learning experiences with direct instructor feedback and personal mentorship through platforms like Treehouse and General Assembly to get up to speed even faster with this career path and listen to my podcast interview with Ian Paget about how to become a freelance designer as a side business idea. Once you have the expertise, you can even create your own projects, such as ColorKit, that can be marketed as their own websites.
5. Teaching Online Courses
One of the easiest online business ideas based on teaching from your expertise.
Using your skills for profit is a recurring theme among today’s top small company ideas. If you’re an expert at something, there’s a large online audience of individuals who would pay to become experts in your field—just like you. If you want to turn your skills into an online course that teaches others how to achieve the same results you have in your life, career, or business, start with How to Create an Awesome Online Course on Udemy, where instructor Miguel Hernandez explains how he earns over $90,000 per year teaching online. More than 8 hours of video education will be provided to you.
Join my free online course uncover a Profitable Business concept today if you want to uncover a profitable online course concept in the next three days. It will walk you through the technique I utilized to produce over $15,000 in online course sales in a single week. Then, when you’re ready to start teaching your own online course, I propose Teachable, the most user-friendly and cost-effective platform for designing, hosting, and selling your online courses. When you join up with Teachable here, you will also receive a plethora of free instructional resources on how to get started with developing an online course (yes, even as one of our top-side business ideas).
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