Business Plan

Top 6 Best Small Business Ideas for Beginners

Many people have dreamt of setting up their own businesses. There are several ways in which people can set up a small business that doesn’t require them to invest huge amounts of funds. It has been found that most of the businesses shut down in the year in which they commenced business due to certain failures. Thus, setting up a business by a beginner needs deep research and analysis of the market.

The below mentioned are a few of the small business ideas which can be effective and help people in earning money

1. Earn Money with a Blog

A blog is a website in which a person writes and updates his opinion or latest business information on the same. There are several ways in which a person can earn money with the help of a blogging website. These are:

• One can mention another’s link in his blog. When users click on the link to make a purchase, the blogger earns a commission. This is known as Affiliate marketing^[1], where the blogger affiliates an external link in his blog.
• One can write content for other companies by providing free-lance service and earn money.
• One can write sponsored content for brands. For example: if a famous company launches an electronic sound device and wants to promote it through your website, you can write a blog describing the qualities of the device. This happens when you have good traffic readers on your website. Such companies pay you well for the promotion of their brands.
• One can sell some of the space of newsletters or advertisement columns to earn money.
• One can tie up with an agency where he has to write blogs for the agency. This gives job security.

To increase traffic to a blogging website, a person should write attractive and unique blogs which appeal reader to read them. The blogs should contain no more than 500 words. The website should be constantly updated with a new blog every 3-4 days and have the skill set to convert 1000 visitors to 1000 readers per day.

The goal should be to earn money from the start. The amount being earned by the bloggers varies and depends upon the subject matter. To find a perfect niche market and the subject matters which give more returns, one needs to put emphasis on researching and understanding the need of the customer.

2. Online platform for selling and buying

A person can set up his business by registering as a seller on a website or application virtually for selling products.  It requires no physical space and is profitable. It is beneficial for those who wish to have a work-from-home business. An online platform allows customer-to-customer and business-to-business sales and purchase of goods on its website. One needs to register himself as a businessman, add his inventory on the website, mention prices of the goods and have a bank account to receive the money in consideration of the sale of goods.

Some websites promote the sale of items which are mostly second-hand and that a consumer is no longer in need of. The prices are very attractive as the nature of goods is a second hand which has already been used by the person. To learn the functioning of the website, one can put on sale the goods which can be sold and are available to him. As soon as a user visits the website, he might contact the seller for a specific good and quote a suitable price in the auction of that good. The seller can choose the best price amongst several auctioned rates to sell his good.

3. Become a YouTuber

A person can register and create a page on youtube for making certain topic-specified videos and upload them. Mostly, the famous categories are gaming, blogging, humour, and education. With the increase in the number of views on the video and the increase in a number of people who subscribe to the youtube channel to stay updated for all the latest videos on that page makes him earn from youtube.

Most of the people who are earning well from youtube generally make and upload basic videos to give subject-related information or a personal experience on a topic. This is not a one-time act. A person needs to constantly upload videos on his channel to attract viewers on his channel. Some of the activities include the promotion of a certain good or brand in the video or make sponsored videos to earn a certain amount of commission on every purchase made by using the code available in the video. This type of business has been in trend recently.

4. Create Gigs

A person who is a freelancer can make his account on a platform which allows creating gigs. There are several websites which allow people to earn certain defined money from providing services or the sale of products. The very common services include content writing, designing, coding, content writing, making videos, etc. It is one of the effective ways for beginners to earn money by doing business.

A defined skill set is required to be a service provider on such platforms. For example, if a person describes himself to be a video editor, he must have undergone a professional course on the same and has samples to showcase his skills of editing as proof of his work.

5. Affiliate Marketing

It is a method of earning money through a business where a person known as an affiliate promotes a defined product of a company. He receives a commission for every sale made due to the promotion he did. It works on the“payment by result” model. He is paid for the increase in sales made after he promoted the goods through various means or recommends the user to buy them.

6. Educate Online

It has been seen recently that people have started making money from the business of teaching students online with the help of various e-learning platforms. It saves time for the students and educators to commute to the class and the cost for educators have to give a proper physical setup of a class. People having certain desired qualifications register themselves on such platforms as educators and teach students virtually. The amount of fee a student pays for availing services of the application is paid to the educators for imparting education to the students.

Many famous educators in respective fields have started providing good quality education through these applications, which helps the students to study and prepare comfortably from their homes. One needs a good camera, a computer system and a good internet connection for this type of business.

Conclusion

Choosing a business is a personal choice, and the market is full of small business ideas giving various options to beginners. One must not lose hope if he faces failure in the beginning. What makes a businessman stand out from the crowd is his constant efforts in achieving success. Earning profits from small businesses requires an investment of time, patience and effort.

Also Read:
Best Business Ideas in Small scale Industries in India
21 Online Business Ideas with Low Investment
Business Plan for Investing In Small Scale Industry in India as a Foreigner