Rising rates are making it more expensive to borrow money, driving down cash. High inflation also tends to disproportionately impact small businesses since they don’t have the buying power large businesses do. After a rough 2022, small businesses may see the economy stabilize next year, making it potentially an ideal time to start a business. When you’re the business owner, you can work from your home, a co-working space, an office, or even the local coffee shop. You can take your work with you on the go, whether that’s the stereotypical beachside resort (please don’t get sand in your laptop) or the back of an RV on a nationwide road trip.
Artists like FEWOCIOUS have managed to make money selling their art as NFTs to the tune of millions. While those might be outlier success stories, there are plenty of other artists selling NFTs they create at home. Take the story of Brittany Pierre, a struggling Chicago-based resident who made $109,000 selling her own art pieces and photography as NFTs, as well as flipping others’ art as NFTs.
Wherever you fall on that spectrum, make sure you understand your client’s needs and check out the competition in your area. Now with sites like Fiverr and Upwork, you can find clients by simply typing a few words into a search engine. Using job board sites also allows you to set your own hours, write the content you feel most connected to, and bolster your réumé with certifications you can complete within the sites themselves. Once connected with knowledge or certification in the industry, you’ll be well equipped to offer virtual personal training classes.
You don’t need one, but a business credit card can be helpful for new small businesses. It allows you to start building business credit, which can help you down the road when you need to take out a loan or line of credit. Additionally, business credit cards often come with rewards and perks that can save you money on business expenses.
But if you’re willing to put in the work, it can be a great way to achieve your dreams and goals. Be sure to do your research, create a solid business plan and pivot along the way. Once you’re operational, don’t forget to stay focused and organized so you can continue to grow your business. You don’t necessarily need to be on every social media platform available. However, you should have a presence on Facebook and Instagram because they offer e-commerce features that allow you to sell directly from your social media accounts.
Both of these platforms have free ad training to help you market your business.
Opening a day care requires some startup cost, even if you’re starting it from home. Offering a more affordable yet quality alternative to local parents can prove to be a steady source of income as you win your first few recurring customers. So far, we’ve covered business ideas that require you to hold inventory in your home.
You’re going to have “high highs” and “low lows,” but you ultimately get to decide whether it’s going to be a dull day. Instead of punching in and punching out, you’re truly living each day to the fullest. Dave Asprey, biohacking entrepreneur and author of ‘Smarter Not Harder,’ reveals how to stop wasting your time and start achieving your goals.
Think of a business plan as a GPS to get your business going. A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan like a GPS for how to structure, run, and grow your new business. It’s a way to think through and detail all the key elements of how your business will run.
In today’s digital first world, a website is usually a must. While a domain name on its own does not offer any legal name protection, once you’ve registered your domain name, no one else will be able to use it. If you’re using social media for marketing, use Knowem to ensure your domain name is available on all platforms. If you’re selling artisan bags and hats through your eCommerce store, artisan bags and hats are relevant keywords. A generic name like ‘artisan bag and hat boutique’ would work well. However, if you plan on extending your range to include clothing and accessories, your name would no longer be applicable.