Sunday, 8 January 2012

Happy New Year - Starting a new business: Business Ideas

Just thought I'd wish you all a very happy and hopefully a profitable New Year. If your New Years resolution is to start your new business then now is the time to act. I know that it can be a mine field of information and this information overload can lead to people giving up on their goals, but please don't. Starting a small business doesn't have to be complicated or stressful and doesn't have to take all that long. But you have to act or it will just stagnate and you will go off the idea.

So get up, and start working come up with that business idea, use brain storming, mind mapping or just jot think about:

  • Online - You could start an online business, in e-bay selling, affiliate marketing, content writing etc. The only thing i will say is watch out for the scams there are many and don't sign upto every site you first find. One useful one i still use is Keyword Academy which is well worth looking at. Here is a useful video: 

  •  Hobbies - you'd be amazed at how you can monetise your favourite things to do, if you are an incredible baker start up a cupcake company, if you're great at cross-stitch start a personalized cross stitch company, photography start doing head shots for actors.
  • Writing - If you are passionate about writing, as I am, then you could start writing articles for content farms, you could use Elance, freelance etc. to get work from people, you could start writing a book.
  • Skills - If you are very good at something i.e. leadership, communication, marketing then why not think about starting a consulting business, consulting medium companies and or groups or provide specialised training in these areas.
  • Subjects - If you are an expert in a subject, maths, instrument, singing, science, languages then why not start a tutoring company
  • Market Experience - If you have worked in retail or product development for many years, why not turn your hand and expertise to making money for yourself in the market you know best by setting up shop, plus you have the advantage of knowing the competitors well having worked for them.
  • niche business ideas - This is where you start a business which could be a spin off from a main business idea, for example a child friendly restaurant which caters for kids needs over parents needs.
A good business idea will set you free.

So there are some ideas, use this new year, or if your not reading it then, now to get your business ideas on paper and start this new year with a bang. Once you have done this you are in a good position to make a good go of it. Wondering what to do next, there is a good business startup checklist at The Business Startup Hub which is really worth checking out.

1 comment:

  1. Starting a new Business

    It doesn't matter how long or detailed your plan is, as long as it covers a few essential points. Most successful small businesses will need to have a break-even analysis, a profit-loss forecast and a cash-flow analysis. Sometimes, you might need to evolve your business.