Most of us have a dream of having a business or starting a business at some point in our lives and to be the boss of our own. At least once in a lifetime, we would like to give a shot at it or wants to take a chance with that. But, starting a whole new business is one of the most brutal things to do. Those who do not belong to a business family or do not have any knowledge or experience in any kind of business, it is very tough for them to start or even think about doing any business. They have so many questions and queries to ask that how we start a business, what kind of business should we do, what are the things or skills we need to run a business, how we make a profit out of it etc.
To start a business we need some particular things to assist us for the sake of our business. We need some knowledge about the business that we want to start and we need some funding or investments to start and run the business. A person should have the minimum skills for a specific business that he wants to do. It is a huge risk to invest a huge amount of money to start a business without proper knowledge or skills. Usually, we cannot afford to invest that much of money and it’s a risk that we should avoid. So it would be better to start and grow a business step by step and learning the skills throughout the course of it. If we have some knowledge or some skills to do a certain type of business then we could start a small setup with a little bit of investment that we can afford to lose.
There are many types of small businesses to do with a little money if you have the skills to do it. Here are some common ideas for youngsters and business aficionados…
Accounts, bookkeeping and tax preparation
If you have a commerce background or you have a piece of knowledge or training in accounts, bookkeeping and tax preparation then you can start your own accounts firm which can provide that kind of services to the customers. Many small farms, stores, businesses or even any person need that kind of services and you can give that services in exchange for money.
Take the responsibility of accounts related works for any client so they don’t need to worry about the proper accounting and you can earn a good amount of money. Similarly, bookkeeping, the day to day activity for a client would give you a stable income monthly and yearly. We all need tax preparation works for our tax returns. If you know how to prepare the tax returns and tax-related works you can give that service to anyone in exchange for money.
Basically you can do it on your own and do not need to invest much initially.
Market research is a type of gathering some information about a particular market for a particular reason in an organized way. It is one of the important components for business strategy. Many companies need that market-related data to start or grow in a particular place to run a successful business. If you have that skills and contacts to provide such information to any firm that can help them to pursue the goals they have set then you can do that kind of stuff on behalf of them and can earn some good cash. All you need to do is collect the data your clients need and provide assistant to plan the strategy for a better future in business.
If you have the ability to manage a wedding ceremony then you could try your hands on the wedding planning industry. There is so much work to do and so many things to plan and so many things to fix to complete a successful wedding party. If you can take the whole responsibility of a wedding for the money, then you can be a wedding planner. Start with some small wedding parties where you do not have to deal with too many people. Then by the time you can grow and take bigger wedding events. All you need is some manpower to conclude the ceremony, contacts to get the job done with quality and good managing skills.
In any kind of events, we need food to serve our guests. Without food, any event is incomplete and unethical. People who want to try their hands in the food industry can try a catering business. You can start with some small events because it would take a small amount of investment and you can learn how to run it. If you know how to cook different types of dishes or cooking is your hobby then you can cook by yourself or you can hire any cook who provides that kind of cooking services and you need some good people who can serve and manage the guests well. If you are able to maintain a good quality then sure you can achieve the targets you set for your business.
Photography and videography
In the present market, photography and videography is one of the most wanted and profitable business or work to do. In the era of social media, the demand for good quality photos and videos are increasing day by day. There is a vast area in that section. All you need is a good camera and a good lens. If you know how to take a good photo or you can train yourself in photography then it is yours to explore. You can work as a freelance photographer or you can set up your own company that can work in events according to client’s wishes.
From wedding to any kind of ceremony, corporate events, wildlife photography, modelling shoot, cinematography you can choose any of the fields you want. You don’t need to invest a huge amount to start photography and videography.
We all need private tutors to learn certain things properly. So if you are good at some areas that you can teach it to someone else then you can be a tutor. If you are good at academic subjects then you can teach it to the academic students. If you are good at music or drawing or any kind of things that you can teach then you can be a teacher of that particular subject. You can open a coaching centre or can give classes to your students in exchange for tuition fee. In this business, you don’t have to think about investments. Maintain a good teaching quality and create a goodwill in the market so that you can attract as many students as possible.
Personal fitness trainer /yoga instructor
With proper knowledge in fitness, training, yoga you can be a fitness trainer or a yoga instructor. Having a certification in it can be an added advantage to pursue this industry. You can set up a gym or can give yoga classes or any kind of fitness classes to your clients. In today’s busy life it is very important and demanding to be fit to compete in the world. There is a huge market or demand in the fitness industry. You can earn a good amount of money if you plan your business according to the demand of the market.
If you are a computer-savvy person and have some skills that require to do some work then you can run a business from your own computer. In the online market, there are many types of work that you can do in exchange for money. Some of the works are-
- SEO – Search engine optimization
- Data entry
- Web designing
- Graphic designer
Knowing any of the above skill or any other skill that you can provide to a company or a person then you can work as a freelancer or can set up a business which can give your clients that kind of services. You can use your personal contacts to get some work or there are so many sites that provide us with that kind of projects from where you can get any type of work you want to do.
YouTube is an online platform where we can see videos that anyone can upload through the channels they own. Who creates and uploads any kind of video, we call them YouTuber or Vlogger. So, if you can create quality video contents then you can be a YouTuber. All you need is a good video camera, a computer to edit and upload the videos and create an account on YouTube (it is free). Initially, you won’t get any money from the YouTube channel. If you can attract people to view your channel and have a good amount of subscription then you can start earning from your channel. You will earn from the ads and you can have sponsorship deals if you are good enough and you can sell any product via your YouTube channel. Thus, if you can run your channel successfully then you can earn a very good amount of money.
Travel and touring
Everybody loves to travel and visit a different kind of places. It is a big industry that offers various kinds of travel and touring plans. If you love to travel and want to earn a good percentage of money then you can open a travel agency and take your customers to a different kind of travel and touring. Setup the tours according to your customer demands and plan for a good travelling that would please your customers. Start with some short trips, then when you have that confidence and experience, start to explore more and more to the long-distance trips. If you can do the business successfully, then you can earn and can visit many places through your business work type.
Nowadays it is one of the most demanding fields in the grooming sector. If you know how to make-up someone by uplifting their looks and have the basic training of it then you can be a make-up artist. The demand is huge in the entertainment industry and in the wedding industry. If you can create your own market and make a name for yourself then surely you will succeed as a make-up artist. You can do bridal make-up, you can be in the film or television industry to make-up the artists, can be someone’s personal make-up artist or set up your own make-up shop and even can teach other people how to be a good make-up artist by giving them, classes.
Many people try their luck in the share trading industry. But in order to profit from it, we need to have a good knowledge of share trading. Share trading is basically buying shares with the minimum prize and selling it with a profitable amount. Any person can buy or sell shares for some profit. Many organizations provide training and certification for share trading that teaches you how to make a profit from it. If you can read the market and get yourself updated all the time then you can be a good share trader. You can work as a share trading consultant by giving your clients some advice on how to invest in shares when to invest in which share? When to buy? When to sell? etc. If your clients can make a profit from your services then you can charge them a commission. Just know the drill then you can open a share trading business.
Any person with good management skill and contacts can start an event management company. You can manage any kind of events if you have that ability to fulfil the demands. It is one of the fastest rising sectors. Start with some small events and local events. After that when you have that grip on your business and in the industry, start doing bigger events. Corporate events, personal events, sports events, political events, performing events, the list is long. Take your time and make a good plan and use your contacts.
The E-commerce website is a modern-day shop to sell online through this kind of websites. If you want to sell your products online then this is a way you can sell your stuff. Just open an E-commerce website with a good name that can catch the eyes of as much as many people and with attractive products with good quality and price value. We can sell anything via this. It will take some amount to create and maintain the website but it is not too much, so we can risk the amount. Make your customers happy by providing good service and good quality to run the business properly.
There is only one thing you need to be a blogger and that is the skill to write. If you have a good writing skill then you can be a blogger. A person who writes for any website is called a blogger. We can write on many topics for many websites or we can be a specialized blogger like a technical writer or sports writer or travel blogger. You can write as a freelancer or take projects from clients or companies to write on behalf of them. Furthermore, set up your own blogging website if you wish. At first, you won’t make any money from your website. But if you can monetize the site then you can earn from this business.
There are so much more businesses to do with some skills and investing a little amount of money. Find out the business you can do and learn over time. Take that business opportunity and make the most out of it and enjoy every bit of success you make from it. Never fear to fail.
Interview with Mr. Nihar Sripad Madkaiker, the Co-Founder of iXR Labs
Role of Technology in Shaping Capital Markets
Interview with Ms. Stuti Bajaj, Founder and Creative Director of Scribbling All Day
“We enable brands to drive up to 66x ROI” – Ms. Sonakshi Nathani, Co-founder and CEO of BIK (Interview)
Interaction with Mr. Gopal Jeyaraj – Head India and SAARC – Anker Innovations
Post-budget Reactions from various industry experts- Quotes