At the beginning of the “entrepreneurship career”, young entrepreneurs are having a lot of startup business ideas. And it is not an easy task to decide which one is the best. The reason is simple, not all ideas are equally achievable.
Some industries are not so profitable. On the other hand, some industries are competitive, and they require more money to be invested. First-time entrepreneurs mostly have a problem with gaining funds, and because of that, it is important not to make the wrong first step (choosing the wrong business).
It is not just important that your idea is good. You need to have a good business plan that will help you to make better plans and decisions for the future. Most importantly, you need to love the business you are running.
That is the reason why you need to hear the top 10 most successful businesses to start.
Online Store
The Internet definitely is the most powerful tool for advertising. Because of that, it doesn’t need to surprise us that a lot of online most successful businesses to start ideas became successful after some period of time.
It is hard to suggest which products are the best possible to work with because the market is constantly changing. Still, you have to be well-informed about the features of the product you are working with. More importantly, you will truly have to love it.
There are also 2 options you have: to sell your own products (e-commerce) and to sell the products from other suppliers for a higher price (drop shipping).
Drop shipping doesn’t require high costs as e-commerce. The biggest part of your money you will go on advertising through social media platforms. However, both options require a lot of researching and planning so don’t expect you will improve your brand over the night.
Web design
Innovation and entrepreneurship are two things that have so much in common. Entrepreneurs have realized that the Internet can help them to reach to their potential customers and to offer them their products in a more effective way.
Statistics have shown that about 80% of customers research the company online before purchase with them. Owners know it is not possible not to have a website for their business. Because of that, web design companies have a lot of work.
Tax Preparation and Bookkeeping
When we talk about profitability, statistics have shown that this field is the best small business to start. Still, that doesn’t mean this industry is for everyone.
You will have to be quite good with numbers. Keeping finances of other entrepreneurs is a responsible task. And if you do not feel prepared for something like that, you shouldn’t try it out.
Graphic Design
Many young entrepreneurs start their business journey as freelance graphic designers because it doesn’t require any expensive investments. In that way, they collect working experience, but also customers with whom they can cooperate long-term.
Just like every company needs a website, it also needs a logo, banners, flyers and other types of promotional materials. This industry is a good opportunity for creative people. Those that were interested in drawing and painting while they were kids, but didn’t have the chance to make a profit from their talent.
Marketing services
The quality of your marketing strategy will determine how successful your business is going to be. Competition in every field is tough, and that’s why marketing strategy is a crucial factor that will influence the success of your startup.
If you possess business communication skills and know how to share the value with the audience, this business is the right one for you. Plus, if you know how to write a copy that will sell, marketing services is the best choice.
Personal Training
When people are working a lot, they do not have time, or simply, do not want to take care of their health. Weight problems are common for many people, and that is definitely a chance you should use. Of course, for something like this, you will have to be professionally qualified. But it is not hard to get the license for that.
If you are spending most of your time in the gym, it is the right time to get some profit from it. And, don’t worry; there will always be a need for personal trainers. Because there are so many people that will want to get muscles or simply to live healthy.
Running your own barbershop
Barber industry is the fastest-growing industry in the US in the last 5 years. Therefore, you can find a lot of young entrepreneurs across America that are barbers in their own shop.
Expect beauty services, you can offer beauty products such as gels, pomades etc. that can bring you more money. It is true that competition is tough, but the number of potential customers is also big. If you really possess skills and knowledge, and if you find a way to reach to the potential customers, competition doesn’t need to worry you.
IT Services
Owners of programming startups definitely have the highest “entrepreneurship salary”. However, this industry really requires a lot of sacrifices, and you will need to be a true expert. More importantly, if you are not planning to be in front of your computer for the biggest part of the day, it will be hard for you to adapt to this industry.
You can develop apps, games, or simply work on new programs, that’s absolutely your choice.
Online Tutoring
This business gives you a lot of opportunities. Maybe you are a graphic designer that wants to share his knowledge about Photoshop. Or a social media manager that wants to teach small entrepreneurs how to run ads on Facebook, it doesn’t matter.
Sharing your knowledge can bring you handsome earnings. You can make vlogs where you will share instructions with the beginners about the things you know and sell them for a fair price.
Except that, you will prove that you are a professional. And people will start contacting you for help, which is a great basis for the beginning of any business.
Cleaning Services
We can agree that this type of business is not so creative. But it can definitely help young entrepreneurs to make the first steps in the world of business. Things you will need are vacuum cleaner and polish floor cleaner. It would be good for you to get a car because it can make your work a lot easier.
CONCLUSION: What is the best small business to start?
Being aware of the advantages and disadvantages of any idea you have will give you a clearer picture if some business is good or not. After that, it will be a lot easier for you to make a good business plan and to determine the goals you want to achieve.
If the business you love is not on the list, it doesn’t mean it won’t bring you profit. However, it also doesn’t mean you will become the richest kid in the world if you pick some of the businesses from the above. A lot of researching, planning, and hard work is required for every success.
Remember, the important thing is to LOVE what you do, and without any emotional connection with your business, everything else is going to be irrelevant.
