You have an exceptional hobby. You’re good at it and believe you could turn it into a business. But how do you know if will become a viable business? One way to find out is to test the waters before you jump straight in. Turn your hobby into a part-time side hustle while you still have a day job. But before you do that, research the industry related to your hobby. This will help you identify if there is a need for your product or service. After you’ve done your research, write a business plan. Use it as a roadmap for your business journey.
Category: business ideas Page 2 of 3
Snapchat is absolutely amazing. It’s definitely one of the latest craze (even though it’s been around since 2012) that’s going viral. Most people use it for fun. But you can use it to set your business apart from other businesses.
What is this craze that’s taken the world by storm?
Snapchat is a mobile photo-messaging app. Users capture the moment in short videos and photos and share it with snapchatters. You can view live stories around the world, catch up on the news and read magazines in Discover on Snapchat.
How do you start a business with no money? You have a fantastic vision for a new business. But you have a big problem. No money. This is an issue for a lot of emerging entrepreneurs.
However, keep your vision alive. Don’t give up before you start. With a little creative thinking, there are a number of ways you can get funding.
The first thing not to do, is not leaving your day job. Not just yet anyway.
The average person has at least four or more business ideas. If you action these ideas effectively, they will turn into income.
How?
By using your ideas to provide customers with solutions to meet their needs. This could be selling products or services.
Everything starts with an idea. It’s what you do with it that matters. Keeping them stuck in your head will not profit you unless you act upon them.
Starting a business without a business plan is similar to setting it up for failing. It’s a road map for a successful business journey. If you start off on a journey without any idea of where you’re going, you will get lost. So, why take a chance and gamble with your business thinking that things will fall into place without any direction?
You must know the vision of your business. When it’s written down, it’s easy to communicate it to others, especially if you plan to have staff. Another reason you might need a plan is for funding. You can’t approach a bank or an investor without a business plan. Your written plan is proof that you have a valid business idea, showing how you intend for it to work.
While others have to deal with the stress that comes with keeping up with a 9-5 job, running to beat traffic, keeping late nights at work and risking being fired for showing up late, others live in a different world, going about their business, effortlessly, from the comfort of their home. They simply sit at home and set the ball rolling for money to start flowing in. Isn’t that great? Identifying the best home business based ideas could be the beginning of a good way to start making money without leaving your house.
The uncertainties of the economy seem to be taking a toll each passing day, creating different shades of stories from the government and employers each day as regards employee wages. Rather than being at the mercy of job givers, you can be one of those who have taken up the challenge of being in control of their finances. Truth is, regardless of the happenstances in the economy, businesses are still in operation and smart business owners are smiling to the bank. The better part of this is, you don’t necessarily need a village to have that financial independence, you can dive into the business oceans, alone, and have a very good swim. And that’s because there are some one man business ideas that are specifically made for single individuals to go into without suffering any risks.
With the humble beginning stories of big businesses like Facebook, starting in a dorm, and Apple, starting in a garage, it’s evident that you don’t need all the money in the world to start a million dollar business. The trick is to find that diamond-in-the-rough idea that can be processed into a goldmine. You can set the ball rolling, with what you have at your disposal by checking out some business ideas with low capital.
In the short time I’ve been a fish farmer, I’ve interacted with dozens of people and I’ve seen numerous fish farms; a lot of these fish farms are unique, and their approach are sometimes different from mine. That’s a good thing.
However, I believe that there are rules that are essential when building a catfish farming business.
By principle, I rarely venture into businesses that do not have a high profit margin; I’m talking at least 50% or more within 6 months to 1 year, depending on how big my investment is.
Whenever new business ideas are introduced to me, I make it clear that unless I can have a 100% profit margin within a reasonable period, I won’t get into that business.
I’ve been a commercial catfish farmer for over a year now, and it is one highly profitable business; having a 50% profit margin within a span of 6 months is normal, if you do things right, and having a profit margin of 150%+ within this same period is not unusual.