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5 ideas for your next startup business
There are plenty ideas out there if you're looking to become an entrepreneur, but not everything is going to be a good fit. Some ideas will be better than others, but each has a silver lining and profit potential. You'll need to ask yourself if you're ready to sacrifice your time in order to start your own business, if the answer is yes, then you're ready to start (sort of).
You might have a nice 9 to 5 job with a decent salary, but how happy are you really? Would you rather be making your own money and living happily while never answering to a boss? Or would you rather sit at a desk having 9 different managers telling you what to do every hour of the day?
Some people take the security of the office job over the possibility of riches through being an entrepreneur because it's safe. They have a family to support and they can't usually risk their time and money to start something from scratch, it's understandable. But why not start something in your spare time and see where it goes You don't have to invest thousands of dollars and hundreds of hours each month in order to see if something is going to work out for you.
It's not always about making more money. If I told you that you could make 25% less income working for yourself than you could at a typical 9 to 5 salary position, would you take it? Hell yes you would! Now I'm not telling you to just quit your job and start up a business lol. I'm telling you that I know from first hand experience that it's possible if you put your mind to it
Below I'll go over 5 ideas for your next startup business
Idea #1: Vacation Rental Management
With airbnb being all the craze when it comes to low cost vacation rentals, there isn't anything out there that mediates the work. And that's where you can come in
You can contact anyone with a vacation rental and have them sign a contract with you so that you can be the mediator or the rentals and times. You basically be the person that the potential renters would contact and the owners don't have to deal with anything except accepting the payments and writing you a check for each sale
Some vacation homes will be listed for weekend rentals while others will be for 1 week to 1 year. It all depends on what the house is like and it's location. If your client owns a house on the beach, you can usually get a longer stay out of the renters because they want to be on the beach rather than going home. If you have a cabin in the woods, you might only get a weekend trip from people throwing a bachelor party or a group of hunters wanting to get away.
The commission for something like this is usually around 20% of the total. This means that if you get someone to stay for 1 month on the beach at a premium rental house, you can get a $1,000 paycheck coming in Now this is a low chance because it would have to be a million dollar home in a ritzy neighborhood, but it's possible
Idea #2: Flipping Websites
This is a growing trend with people purchasing websites that are semi-profitable and then flipping them for more than they purchased the site for. A lot of these buyers will get cheap website, build them up, then sell them for a nice profit.
This type of business is technical, so you better start learning how you can transfer domains and code to the buyers hosting account.
Sometimes you can find a gem on flippa.com or if you want to contact website owners directly, you can buy from them at a cheaper rate then sell it yourself on flippa lol.
Idea #3: Educational Content and Courses
An easy thing to do is create educational content and courses on something you're very familiar with. I've done this in the past and I've written up courses on how to optimize your website. It was a detailed course which basically started with the domain purcahse and ended with the first sale, and people seemed to love it
You don't have to just stick with things you know, you can go out of the way to learn something and then write up a course or "how to" and sell it. You could even give it away for free and generate email sign ups which you can sell to later
Idea #4: Monthly "Box" Services
My girlfriend loves these types of services because she can pay $10 and get samples of makeup each month sent right to our house lol. I've seen all types of these services going around, not just makeup ones. The most recent one I saw was a dart board company taking $15 subscriptions and they would send out monthly samples of dart tips, barrels, shafts, flights, etc. I was talking to the owner that started it up and he said if he puts a few different business cards in the box he gets additional sales through his websites
So not only are you making money, or breaking even from the box sales, you're profiting from the upsells
Idea #5: Ad Management Company
So many businesses are trying to break into advertising through adwords, bing ads, Facebook ads, etc. But they aren't sure exactly what to do and where to spend their money. This is where you come in with your ad management expertise and help them out. You will obviously be getting paid a flat fee or a percentage, which isn't uncommon.
If you can get the company to spend $100 and bring them in $200, that's a good ROI and they will be willing to invest even more into their campaigns which you will make money off of
A lot of companies go with the commission structure, like if the client wants to spend $10,000 a month then you make $1,000. I don't think this is actually the best model though. You're not doing any extra work to be paid more, you're doing the same thing if they are investing $100 or $100,000 into their campaigns so you shouldn't get paid more. Just work with a flat fee of $300 to $500 a month and you'll notice more clients will sign up with you. If you end up making them a ton of money, they will usually give you a bonus
Every business takes time to get off of the ground, you won't profit right out of the gate. If you do start profiting right away, keep that ball rolling and bootstrap as much as possible
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