Most Successful Small Business Ideas: You’ve always dreamed of running your own business, but you just don’t know what to do or what business idea to pursue. However, the entrepreneurs that started their businesses with these small business ideas were successful, and so can you!
Most Successful Small Business Ideas
All it takes is the right idea, some hard work, and dedication to your craft. If you’re looking for small business ideas that are both innovative and profitable, then this list of the 10 most successful small business ideas will help you get started on the path towards owning your dream company. Check out these unique business ideas to help you jumpstart your success story today!
1) Start A Blog
Having a business idea is one thing, but starting a business is another. Launching a new venture can be exciting, but it’s also a whole lot of work. That’s why it pays to prepare yourself for launching your small business idea by writing down as much information as possible about your new venture—from a detailed plan to financial projections to pro-and-con lists.
The more prepared you are when you take that big step from idea to reality, the better chance you have of not only succeeding in starting your own small business but in sustaining it for years to come. So don’t wait: Start taking notes now on every aspect of your project. You’ll thank yourself later.
2) Sell Your Skills Online
Some people are so incredibly talented that they can make money doing what they love for free. Freelancing can be a great side business idea, but it does require marketing skills to get started. For example, you might develop a website and build traffic by selling affiliate products or advertising your services on sites like Craigslist.
In time, you could turn your side business into something bigger through sales of your products or services via online channels. You can also leverage a small business idea by hosting workshops or seminars to promote your expertise.
If you’re interested in starting an Etsy store for instance, take a look at some of these suggestions for getting started . The key to success is to start with small steps and to avoid expecting overnight success—the process can take quite some time! But if you keep working hard, stay dedicated, and don’t give up, there’s no reason why you can’t run a successful small business idea.
3) Start A Shopify Store
If you’re looking for small business ideas with big profit margins, look no further than e-commerce. Products like books and home décor are among some of Shopify’s top-selling items. And if you’re worried about not having a lot of experience in running an online store, don’t worry — there are tons of resources online to help get you started on your e-commerce journey.
This resource from Shopify is a great place to start, but if you’d rather hear it from someone else, listen to our podcast on how I went from not knowing anything about e-commerce to starting my own successful Shopify stores. The beauty of building a profitable online store isn’t just that you’ll have an awesome new revenue stream (though that certainly doesn’t hurt). It’s also that you’ll have something new to talk about with customers and partners when meeting them at networking events or conferences.
Here are some more tips on selling online: 6 Ways To Start An Online Store In 2018 The Top 4 Tips For Starting A Profitable E-Commerce Business 5 Tools That Will Make Your E-Commerce Startup 10x Faster 10 Rules Of Successful Ecommerce Startups 3 Secrets To Running A Profitable Ecommerce Website When To Start An Online Store?
4) Host events
Events and networking are key to a small business’s success. You may have a stellar product or service, but that won’t matter if you can’t reach your target customers. If you don’t enjoy meeting people, network events probably aren’t for you—but if you do, then it’s time to get out there! Start small by attending local Chamber of Commerce meetings and other industry-specific gatherings where you can share your expertise and connect with potential clients.
Over time, as your business grows, so should your network. You might even consider joining an organization like BNI (Business Networking International) or another professional association. These organizations help you meet new contacts in person and keep in touch with existing ones via monthly meetings, social media groups, newsletters and more.
5) Become An Expert In Something
It’s one thing to know a lot about a small set of topics and quite another to be well-versed in a large variety of things. Being an expert means you can talk to more people, because you’re confident and interesting.
The most common reason people don’t build expertise is because they’re afraid it will take a long time or they won’t be good at it—and that lack of confidence can keep you from getting started or sharing your knowledge. Building an area of expertise is like learning how to play piano.
It takes effort, but once you know what you’re doing, it becomes much easier going forward (and fun!). You might get stuck sometimes—that’s OK! Just ask for help and try again. Expertise is built over time, so just start by taking small steps. Here are some tips on where to start building your own expertise today:
- Read books related to something you want to learn about.
- Ask questions online about something you want to learn about (like on Quora).
- Talk with experts who work in areas related to what you want to learn about (for example, if I wanted to learn more about business development deals, I’d reach out directly via email or LinkedIn).
- Attend conferences related to something you want to learn about.
- Speak with someone who works in an area related for advice on how they got started.
6) Teach online courses
Teaching online courses can be one of those 10 most successful small business ideas that could earn you up to $60,000 in a month from companies like Skillshare and Udemy. If you have expertise in an area that’s relevant to your audience (marketing, coding, web design, etc.), there’s already a built-in base of people looking for experts just like you.
But if you can become one of their trusted mentors on a platform like Skillshare or Udemy, you’ll be able to earn money online while continuing to teach your passion and help others reach their goals. I hope this helps! Good luck with your new business idea.
7) Hire yourself out as a consultant
One way to make money in today’s business world is by hiring yourself out as a consultant. Companies are always looking for fresh, new ideas and they’re usually willing to pay good money for them. The trick is to come up with a service that hasn’t been replicated too many times (thereby making it difficult for businesses to find), but which also has potential demand (making it easy for you to find clients).
Consultants often offer expertise or knowledge that companies don’t have and can act as an outside voice, bringing fresh ideas and perspectives into big companies. A strong management team can be worth its weight in gold, so being part of one can be very profitable – assuming you have a great team leader at your side, of course!
It may sound simple, but coming up with a great idea for a small business requires some serious brainstorming. Write down all of your ideas on paper and organize them based on their value to consumers or other businesses. Remember that if no one else sees value in your idea, then no one will buy it either!
Once you have an organized list of all of your different ideas, look over each one carefully and ask yourself these questions: Does my product/service solve any problems? Can I sell it at least ten people? Will customers want to buy my product/service? Do I like doing what I would do every day if I were running my own company? Is there already someone doing something similar? If so, why should people choose me instead?
8) Become a social media influencer
Becoming a social media influencer doesn’t require much beyond a niche where you have passion and knowledge. If you love makeup and beauty products, becoming an influencer can be a great source of income (or at least fun). There are tons of posts about how to build your social media following.
Just get started posting about makeup on Instagram or Facebook, for example, and you’ll eventually find your audience—and your paycheck. Once you build up a decent following, put out some affiliate links on those platforms to make money passively from that audience. The same goes for YouTube videos.
You don’t need to post videos daily, but if you do enjoy doing so then go ahead! Eventually your viewers will turn into subscribers who will check in with what you post regularly. As long as you have something valuable to share with them, they won’t mind seeing ads once in awhile either. This is one way that bloggers earn money while making content they love and sharing it with their community.
9) Create An App Or Software Program
When it comes to starting a small business, an app or software program has become a popular option for many entrepreneurs. This can be a very lucrative venture if you’re able to sell your software to consumers, but it can also be a costly mistake if your concept isn’t as simple and streamlined as possible. Make sure that you think through your development process and plan how you will reach your target audience before making any moves forward with development.
Additionally, make sure that you are fully committed to carrying out whatever development process is required because building apps and software programs usually requires quite a bit of time invested on both ends. It’s best to go into creating an app or software program with a full understanding of what that means in terms of effort and commitment.
10) Sell Your Products Through Amazon FBA
If you want to sell products online, there’s no better place to do that than Amazon. As a third-party seller, you can make up to 70 percent commission on every sale. Moreover, unlike listing your products individually on eBay or Etsy, selling through Amazon means you pay a flat one-time fee per product instead of listing and paying for each item separately.
If you’re looking for easy retail opportunities with some of the highest profit margins out there on durable goods (many such items will cost well under $15) start researching today to see if selling on Amazon is right for your business. Listing something as low as $3 or $4 may be worth it if it sells often enough and brings in close to 70 percent in profits after fees.
Even though you don’t have to worry about returns, because these are fulfilled by Amazon, there’s still some work involved in keeping track of inventory levels and making sure customers’ orders get filled correctly. For more information about how to become an Amazon seller, check out our ultimate guide here .
This has been done before. We don’t need another top 10 list post! I know but we are going over 10 different topics that might help people who might not have come across them before so they might help someone…right? Right?
The key to starting a successful small business is ensuring that you have an established and effective plan for growth. Because of their narrow focus, a majority of small businesses fail within four years. This doesn’t mean you can’t start a successful business, it just means you need to take steps to ensure that your idea has longevity.
Here are 10 ideas that are worth exploring when building your business plan After considering these questions, ask yourself: Is my passion strong enough? Does my market have room for growth? Do I have a strong support system in place?
Do I know how to do what I am doing? Can I make money at it? If you answered yes to all five questions then you should be on your way to launching a successful small business. If not, re-evaluate before moving forward with any new endeavor.