Top 10 Small Business Investment Ideas are not hard to find on the net but where do you start if you have never invested in a business before?
Firstly, you need to think about what you are interested in or have a passion for. By starting a business that you are passionate about things are going to work much easier for you. How do you work out what you are passionate about? Think about what makes you happy or makes you feel really relaxed and comfortable when you are doing it. Usually this can be a hobby that you do outside of work.
Sometimes people think that they should go into a business that is closely related to the actual “work” that they are currently doing. This might work out alright for a while as you know that you are good at it and it comes easily to you … but this won’t last. There was a reason why you decided to get out of that job in the first place … isn’t there??
Next, you need to think about what are the niche areas of popular industries. What is it that keeps you happy but how will it work in the real world.
As an example, I love health and fitness, it makes me happy … but I don’t really want to get into personal training or nutrition for other people as there is a LOT of competition and therefore there is not a lot of money in that area. Being in business is risky let alone doing something just for the love of it. I also have a young family that I need to consider when getting into a business so I look for niche areas that other business owners aren’t already in.
I like the world of education and training and I am passionate about small business so I would prefer to work with Personal Trainers and nutritionists to help grow their business rather than do it myself.
1. Consultancy – if you know your stuff you could start a consultancy business for a range of businesses rather than working for one organisation
2. Training – again if you are good at what you do there are plenty of people who want to know how you do it. If you are good communicator training is a niche area that plenty of people don’t want to do.
3. Virtual Assistance – there are plenty of organisations that need extra help now and then but don’t want to hire permanent staff. Also, they may not have the space and room to even employ casual staff. You could work from home as a virtual assistant.
4. Personal Trainer – although I am not interested in this there are a lot of people that are very good at what they do in this industry and can find a very niche market for themselves such as one on one high end clients. You will need help marketing yourself as you need to very clear about the distinction between you and the thousands of other personal trainers in your area
5. Web Design – another low investment small business idea is in web design. If you can position yourself in a niche market and find virtual assistants to keep your costs low you can make a really profitable business out of web design
Top 10 Small Business Investment Ideas cont.
6. Ebay store – there are many people starting a small business using eBay stores. Using my example above if you have a passion for health and fitness maybe you could set up a store on eBay selling fitness equipment.
7.Blogging – if you have a lot of knowledge and a passion about a particular area you could start up a blog. There are lots of people making a good living out of blogging and you can start slowly building the business alongside your permanent income.
8. Cleaning Services – do you have a passion for cleaning? This is a very niche area as not many people like to clean, they would rather do something else that they love to do. This requires very low setup costs so it is a good investment and once you have a following of good clients you can sell the business for a profit.
9.Computer repairs – computers are big business and everyone has one (almost) so if you have a passion and a knack for repairing computers maybe you should consider this. This is a business that you can start from home as a mobile business and build it from there.
10.Event Manager – not everyone is good at managing events so if you are the life of the party and love the thrill of preparing events maybe you could look at this as a business idea?