A Google search of “business ideas” would likely return millions of hits. Unfortunately, quite a number of those hits are scams and get-rich-quick schemes. However, there are tried and tested business ideas that almost-always work and can help you make money. Whether you are looking at starting a side business or a full-time business, here are five business ideas that you can try out.
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Buy and Sell
The concept of buying and selling to make a profit has been around for centuries. However, in recent times, some are calling it the “new economy.” From clothes, jewelry, electronic gadgets, you can find anything you need in an e-commerce store. That’s why platforms like eBay and Amazon have become the go-to sites for many consumers. The good news is that you can start your Buy and Sell business in no time.
Start by researching the market to determine which products your customers are interested in and which ones move fast. There are products that, although small, can move fast and help you make profits quickly. For instance, you can make substantial profits buying wholesale jewelry for resale. You can use online tools like the Google Keyword Planner to find out the most searched brands and products.
The next step is to find an excellent wholesaler. The buy and sell business works by the maxim “buy low and sell high.” If you can find wholesalers who can give you outstanding products at fair prices, your profit margin will increase. Finally, you can set up your store on your own website or e-commerce sites like Shopify, eBay, and Amazon.
Learn a Skill
There’s more to business than just making money. The core of any business is to solve problems and deliver excellent solutions. That’s why skills are critical to the success of any business venture. As long as you have a valuable skill, you won’t lack opportunities. A recent study by Linkedin revealed the ten most in-demand skills. They are:
- Blockchain
- Cloud computing
- Analytical reasoning
- Artificial intelligence
- UX design
- Business analysis
- Affiliate marketing
- Sales
- Scientific computing
- Video production
You don’t necessarily have to attend a 4-year college to acquire any of these skills. If you have the opportunity to study at a college, go for it. But if you don’t, there are several online courses that you can take. Sites like Coursera and edX are some of the top online learning sites. Aside from these skills, there are other skills like freelance designing, writing, email marketing, that you can explore. These skills make you a valuable asset in the gig economy.
Choose a skill that resonates with your passion and background. For instance, if you are an avid reader and writer, freelance writing might be perfect for you. If you are tech-oriented, skills like software development and blockchain may be the way to go. In any case, don’t be afraid to try something new.
Think of the Future
In a world of fast-foods and fast-cars, the future seems like light-years away. However, if you are looking to make money consistently, you’ll need to plan for the future. Don’t settle for skills that are likely to be irrelevant in a few years. And if you start a buy and sell business, make sure that you are always on the lookout for new trends, brands, and products that help you play in the big leagues for years.
About Carson Derrow
