As the new year comes around, people may start thinking about opening their own business. But what if you don’t want to open a store or hire a bunch of people. Can you do something as a one-person business?
Many people dream of starting their own business. There’s something about being your own boss, setting your own hours, and doing something you’re passionate about that resonates with pretty much everyone.
That being said, there are a number of people that don’t know what type of business they’d like to start. With so many options these days it can be a little overwhelming.
So, we’ve put together a list of five businesses that you can start all on your own. Each of these ideas have proven to be profitable if executed correctly and should work for almost everyone.
A freelancer is a contractor that works for many different companies in order to provide them with specialized skills and expertise.
If you’ve spent a decent amount of time in the workforce then chances are you’ve picked up some valuable skills. Or maybe you’ve gone to school to become certified in a specific discipline. Becoming a freelancer will allow you to use those skills you’ve learned to start your own business.
One of the best parts about starting a freelance business is that you can do it part-time. According to a recent survey, 55% of freelancers still have a full-time job. This means you can build up your business while keeping your current job, which reduces a lot of your risk.
Some of the most in-demand freelance skills include:
- Graphic design
However, there are plenty of other areas you can specialize in.
When it comes to finding work, a great place to start is sites like Upwork and Fiverr. Here you’ll be able to advertise your services and apply for available job postings in your chosen field.
Once you build a core group of clients that keep giving you work there’s no reason why you can’t turn this into a full-time business.
If you’re passionate about teaching and inspiring people, then coaching could be perfect for you. And best of all, advances in technology mean you can build this type of business completely online.
First, you need to decide what type of coach you want to be. There are plenty of choices, including:
- Life coach
- Career coach
- Business coach
- Performance coach
- Wellness coach
The path you choose will depend mostly on your experience, knowledge, and interests.
Next, you need to create some products. Consider starting with something small, like a PDF or video, that’s lower-priced or even free. This will let people try out your services without a lot of risk.
If they find your information valuable then you can upsell them to a higher-priced item, like a course or consultation services.
This business model has been really gaining popularity in the last few years, largely because it’s highly profitable and open to anyone.
Amazon is the world’s largest retailer, and in order to expand their product catalog even further they allow individual sellers to offer items on their site as well. This is a great opportunity for you to start an eCommerce business on a massive marketplace that already has millions of customers.
In 2019, more than 140,000 third-party sellers surpassed $100,000 in annual sales, so there’s definitely the potential to grow a profitable business here.
At this point, you’re probably wondering how to sell items on Amazon. It turns out, the process is pretty simple.
- Decide what you want to sell. There are a number of tools out there that will tell you what products are generating sales on Amazon.
- Source your products from local retail stores, other eCommerce sites, wholesalers, or manufacturers.
- Create your product listings.
- Fulfill your orders. If you opt for the Fulfillment by Amazon program you can send all your inventory to them and they’ll pack and ship all your orders for you.
You can start with one product and then gradually add more to grow your business and bring in more revenue.
Do you have a university degree and love to teach? Then perhaps you should think about starting a tutoring business.
There are always lots of students out there who are looking for help with certain courses, which means there are plenty of opportunities for someone with the right knowledge.
Most people think about tutoring as a part-time gig, but many have made it their full-time career. In fact, you can make anywhere from $25,000 – $50,000 per year working just 20 hours per week.
You can become a tutor for virtually any course, but some of the topics with the highest demand include:
So, if you have experience with these or other topics, tutoring might be your best path to starting your own business.
Social Media Marketing
When it comes to marketing social media is the way of the future. A recent report by Adobe states that 50% of Gen Z and 42% of Millennials consider social media the most relevant marketing channel.
If you have experience doing this kind of work for your employer, or you’re just passionate about social media, then you may be able to turn this into an income. Many older business owners still aren’t that knowledgeable when about this technology and are looking for experts to help them.
To start, you need to build your own social media following on multiple channels, such as Facebook, Instagram, and Twitter. People want to see that you’re able to grow your own profiles before they hire you to help with theirs.
Next, make sure you’re up-to-date on all the latest technology and best practices, as this industry is always evolving.
When you’re ready, start looking for work. Begin with smaller lower-paid jobs to build up your portfolio. Once you have some experience you can start going after larger contracts.
Starting your own business doesn’t need to be a dream. As you can see, there are plenty of ways you can make it a reality. If you’re interested in having your own business, come up with an idea and then start working on it in your free time.
It won’t happen overnight, but if you work hard and stick with it then before long you should have a business you can call your own.
Editor’s Note: This post was written by the Amazon experts team from AMZScout a top 3 Amazon analytics tool worldwide with over 500,000 users, including companies like Red Bull, Disney, and Casio, which has been available for over four years. We do research and frequently find new and exciting trends connected to Amazon and other eCommerce businesses that we love to provide to readers.