5 Businesses You Can Start By This Weekend
I’ve been saying for a while that now it’s a fantastic time to start a business. And I can hear you out there, going like…”Okaaaay? Great… then what?” So I thought I’d walk you through the process in a few simple steps.
My hubster and I have a couple of business start-up sayings. His is, “If you want a successful business, find a market niche that’s underserved and fill it.” Mine has two parts, “#1 — Find a problem people will pay to fix. #2 — Get paid to fix it.” (Mine’s better, right?)
So the takeaway of our two sayings is that your business has to fill a need, and never enter a saturated market. With that info filed away, let’s get started.
If you know me, you know I’m a fan of starting up a business as a side-hustle and merrily bootstrapping to the point that you can give up your day job and turn your side-hustle into your full-time gig. (Whew, was that a mouthful or what!) And since you’ll be giving up your free time to grow the business, make sure you like it. And as much as everyone says that you should follow your passion and heart when you open a business, I’m going to differ a bit. I think that’s true in many cases, maybe most, but for some, the passion is in the business itself. It’s in the puzzles presented and the solving of them, the zing of setting goals and achieving them, so don’t be discouraged if you don’t have a passion that drives you into business. If the process intrigues you, go for it.
I started my last business because I want to be my own boss and I chose something with extremely low capital investment. Computer…check. Firsthand knowledge of small business accounting and a knack for QuickBooks…check. It was not my passion. Not even close. But I did like to take an accounting mess and sort it out, I liked solving problems , setting up financial systems and training owners and their staff how to do it themselves. As I developed the confidence to market myself on what I truly love to do, bossing people around, I mean, consulting, then my business became my passion. And if I hadn’t stepped up to the plate and taken a couple swings, I never would have gotten a piece of the ball. Cheesy sports metaphor…check.
Five Business Ideas to (Seriously) Consider
One: Online Virtual Assistant Take your mad organizational and all around office skills and do it online. You can start with one client and grow as your knowledge and proficiency increase. Online VA’s can also focus on particular types of clients, such as busy moms, start-ups, or entrepreneurs. Your tasks can include e-mail marketing, social media management, bookkeeping, research, answering-mails, and making appointments, to name a few. The more you are willing to take on with efficiency and a positive attitude, the more your business will grow. Hit up google (or me) for info on the best way to start up.
Two: Teach Ask yourself, “What am I good at, what do I know, what are my skills?” Take inventory and put out the open sign. Back when I was in college I took an in-depth quilting class. I’d been sewing since I was young so I had basic skills. The following summer I moved to a small town and (yep) taught a quilting class. Quilting was making a comeback so I filled the class and made some extra cash. Another example from my own life is my daughter. She was an All-American softball pitcher and created a business doing workshops and private lessons. There are so many things that can be taught, such as musical instruments, art, tennis, martial arts, a foreign language, cooking, or computer skills. So think about it…what can you do? Now go to your computer — there’s information all over the internet on how to put together workshops and classes. You can do your teaching in person or over the internet. The opportunities are endless.
Three: Repair/Refurbish/Re-purpose I personally love this one. I like the idea of keeping things functional, using them up instead of throwing them away. And repair work of everyday items will survive and thrive in a recession as people will be repairing instead of buying new. Check out the IFIXIT site, they’re trying to start a revolution. If you are good at working with a product that can break, learn how to fix it. This applies to computers, jewelry, bicycles, electronics, furniture, lamps, clothing, etc. All you need is a garage or work area. In my area there’s a really cool business selling quality pre-owned sports gear. Superior Seconds actually began with the concept of providing a place where the community could bring outgrown or unused gear and sell it to other community members. It grew into a business from there, and as bikes became a prime part of the business, a bike maintenance and repair division was added. The business benefits buyers, sellers, thrifty people AND the earth! I also love the story from Nina Raizel who creates amazing jewelry and has built a successful business crafting portable pieces of art, but she finds great satisfaction in repair work fixing heirlooms and sentimental pieces.
Another option is that if you are a crafty person, you can take old things and refurbish or repurpose them…Google and Pinterest will give you tons of ideas. Furniture and home items are an obvious place to start, but think outside the box, like Wendi Magee of Artifex Detroit , who makes badass belts and accessories from junkyard finds.
Four: Bookkeeping No, it’s not sexy, but damn, it’s a good field to be in. Good businesses keep good books, and those businesses need someone to do the books for them, because hey! Most owners don’t want to do their books. You don’t need an accounting degree for this. You do need to be detail-oriented and able to track things back to their source. You need to understand the importance of doing a good job because owners make decisions based on the numbers and they need to be right. There are reasonable courses that can teach you the basics. I recommend learning QuickBooks as 85% of small businesses use it and it’s form-based. From there, get a part time job working in an office with QuickBooks at an entry level position, then start advertising for your own customers and build from there. Find a good mentor. I’ve mentored several young people into great bookkeeping jobs and businesses. And it usually takes 18 months to 2 years to get a good client base but if you’re good, word of mouth will carry you from there. Depending on how well you do and what you can provide, you can make up to $35 -$60 an hour providing bookkeeping services for small business owners. If you become proficient at setting up QuickBooks, you can charge up to $120 per hour for that specialty.
Five: Companion Do you like people? Are you able to do light care and organization? With the aging population, there is a need for ‘company’ for a generation that needs a little help, but is not ready for assisted care. You would take them on outings, do some organization, perhaps light cleaning, reading, etc, depending on what the client needs are. It allows the client dignity and the ability to live in their own home for as long as possible. I recommend having your own background search done and available for potential clients and their families (cost is about $50) and carry a personal liability policy for your protection.
I hope these ideas will help get you started. If you want more inspiration, check out Rima Pundir’s Lifehack article. Remember that it’s up to you how far you go. You have to do the work, take most excellent care of your customers, and be patient as you grow. It doesn’t happen overnight, no matter how bad we want it to. And the consultant part of me won’t sign off on this article until I tell you to remember to set up your own accounting systems when you start so that you can track the success of your business and aren’t hit with unexpected taxes.
Shoot me an e-mail if you have questions on a business you want to start. I love hearing from you!