New year, new you, new business! How do you come up with those business ideas that can get those gears turning and have you on the path to your new business and new life this year? There are many different business ideas, but you need to narrow it down to what sort of business you want to start this year. For myself I am working on multiple streams of income, something I can set up and it pays off throughout the entire year with very little work from me along the way.
First things first
Where are your passions? What sparks your creativity? In order to start a new business, you have to have a passion for what you are doing. If you don’t love it, then it is apparent to others and why would they have faith in something that you do not? So start there. Make a list of things that you love to do.
What is marketable?
Now that you have your list, brainstorm on how you can market those ideas as a business that can create income for you. How much effort will it take? Does the effort equate to a profit you can live with? How many hours invested to get it done and rolling? Do you want a full-time business or a sidestream of income to add to what you already do? My personal goal is sidestreams of income. Something I can set up and have it help me fill in some areas in my life and also bring in some extra cash.
People ask me all of the time about photography and editing, what if I took people out and showed them what I do? Let them go with me and participate in photo shoots and learn hands on. I’m not really the classroom type, I am not a teacher, but I can help someone discover their talents with a little nudging.
What about Consulting?
If there is something you have a lot of knowledge about, why not market that? Open a consulting business and share that knowledge with those that are seeking it! You would charge a flat weekly fee to help those learn what you know. Help them succeed in areas that you already have perfected. Sounds like a great limitless business ideas source to me!
How much do you want to earn?
Setting up a business that covers your needs is very important. For myself, I need to add about $500 to my monthly income right away. I have somethings that need to happen and an extra $500 per month would help tremendously. So if I need $500 per month, then I need to be bringing in at least $125 per week with my new business. That doesn’t sound too hard! By the way, I am aiming low. This is what I need, but of course, more would be great! Aiming for that base goal will allow for more success because once I exceed that I’ll really be nailing this side business deal. So be sure that your business ideas match the cash demand you need to bring in.
Branding
Branding is very important, and you will probably get stuck here for a bit. Coming up with the perfect branding can make your business take off a lot faster. Something catchy and relevant. Something unique. For instance, if you go the consulting route, you will want a consulting logo. I would hire a professional for this because first impressions are important. If your logo looks like your toddler made it, what does that say about your professionalism as a business person?
I’m right there with you
I hope this helps you in your goal to bring in some extra cash at home or start a new full-time business. I will be working on my brainstorming of business ideas today as well. Good luck on your journey!
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