If you’re looking to start a business then you need to have an idea that is going to appeal to your target market. In short, you need to think of something different that there is a clear need for.
This involves doing market research and verifying what potential competitors are doing. Entering a market that is already competitive will make it much more difficult for you to succeed. That’s why you need to be aware of the top 5 skill & service-based startup ideas.
Knowing what they are will allow you to see the direction of the market and ensure you have something that is truly revolutionary. Of course, you should also consider the best entity for your business and why it’s a good idea for anyone to start their business in the US.
1. Information products
If you have a lot of knowledge about a specific subject then it is surprisingly easy to create an online service based business.
You can produce e-books, podcasts, or even offer a training course to ensure others are enlightened. Of course, you’ll need to ensure that there will be an interest or need for your chosen subject matter before you quit your day job.
This is a very popular startup idea at present because almost everyone has something they are passionate about and want to share with the world.
It’s also very easy to start and can be run alongside a regular job.
This is another area that is rapidly growing in popularity. In many ways this is an extension of the first idea; if you’re looking to educate people.
But, you can also create short stories and novels; publishing them online is surprisingly easy and costs next to nothing.
You do need to make sure the finished books are edited properly and well-presented, but there’s a huge audience for any niche!
3. Affiliate marketing
The main skill required for this is the ability to market products. You can do this directly, via social media, or by writing blogs and e-books. Every time someone clicks on one of your links and then buys the product you’ll earn a small commission.
This type of business can take time to build but it can ultimately be a great passive income source. The fact that 80% of brands use affiliate marketing tells you there are plenty of options open to you.
4. Printing on demand
This involves creating your own artistic designs and allowing people to purchase these designs online. As soon as they purchase them they can download your design and use it for their own needs.
It’s paper-free, doesn’t require you to spend a fortune on ink, and gives you an earning opportunity for creative freedom. There are hundreds of potential marketing niches for you to explore as it simply means the buyer can have the print straight away.
You can offer your services to help local businesses get more exposure. This is a rapidly growing business area as there are still many businesses without an online presence.
You can create an online presence for these businesses and help them to build their reputation through site design, logo creation, and brand management.