Are you feeling underpaid or undervalued? Then take a look at these business ideas, and
Fire your boss, today!
1. Sell second hand goods
Selling second hand goods is a great way to stretch your disposable income. In our current economic climate, it is a very attractive business model, more and more people are buying quality second hand goods simply because they can no longer afford to buy things brand new.
You could search on local Facebook pages for items that could yield a positive return, or you could connect the buyer and seller and then charge a commission.
Let me share a strategy I once used while living in South Africa, I made friends with real estate agents and found out from them which people were emigrating or downscaling. I would then contact those people and offer my services to help them move or to help them sell off their items they didn't need, or couldn't keep anymore. Most of the time I never even needed to buy the item from them. All I had to do was ask them what price they wanted for it, then I'd find a buyer who was interested in buying that item - never connecting the buyer or seller. I would then add a markup on the price from the seller, pick the item up from their house, then sell it straight to the buyer - I kept the profit.
This strategy is similar to arbitrage , exploiting price differences in trading financial instruments. This side gig is how I began learning about arbitrage, which eventually lead me to make investments across different markets.
In all honesty, I'd still be doing this in SA if I were still there. It was a highly lucrative business once I began making contacts.
Sidenote:
I look at the mistakes of many of the people I know, buying new cars that have no utility other than getting them to work or to the shops - an asset that takes money out their pocket.
Why not buy a vehicle that has more than one utility, like being able to transport goods for people who are moving, or delivering sold items to their new home. I'd rather have money in my pocket than paying money out. I guess we live in the time where it's better to look rich than to actually be rich - to each their own, I guess.
2.Tutoring
If you are particularly good at a certain subject, you could tutor students, small groups or even adults who are looking to improve in a certain subject. With the spread of digitalization, you could tutor anyone from anywhere simply by having a cellphone or laptop.
If you are interested in teaching English online, check out these companies who all pay top Dollar:
Check out my tweet here on how to get started making money online with teaching.
3. Photographer
As a professional photographer, you'll usually work for a client or an employer. If your plan is to not have an employer then you'll need to find clients, and that comes from quality work and exceptional reviews.
There is a hack you can use which could steal you market share from other photographers. You could offer your services for FREE at the beginning just to build up your reputation. You'll obviously need to be good at what you do so that people trust you. You can't claim to be a photographer offering free work but producing garbage, you'll get nowhere and only waste everyone's time and money.
If you are as good as you think you are, you'll immediately snatch away potential clients from other photographers. Most successful startup businesses usually use this strategy to take away market share from competitors. They tend to have deeper pockets which allows them to saturate the market with cheaper products or services until it drives weaker competitors out. You can simply use this strategy by offering quality work at cheaper rates, or for FREE, then gradually start increasing your fee. If you have the funds available to you to sustain your costs during this time, then consider this route.
Or alternatively, start smaller and build slowly. You could easily sell your content to bloggers on sites like Shuttershock for a small fee. You could do this as a side gig while working full-time, then use all the money you saved in the process to grow your business- by offering FREE shoots.
4. Web design
If you have the 'know how' ability, consider charging people or businesses to set up their website. Many businesses don't use their website as a tool to bring in new customers, ultimately losing out on potential income. If you can show them the benefits of having an attractive and user-friendly website, then you may just convert them into a paying customer.
Put together a portfolio of work as an example, even if this requires you creating your own customer base. What I mean by this is design your own websites and use this as your collateral to show potential customers your skills and work you have completed.
You don't have to wait for customers to showcase your talents, take action and stop waiting in limbo. Waiting for a customer so you can get started only hides the potential you have. Show the world you have skills so that those customers can come to you, don't wait for customers before you get started.
Just like any business, you need to commit time, effort and capital into making it a success.
5. Blogger
Write blogs about the latest trends, finance, sports, or even food. Whatever you are passionate about will be best. The more value you add the more shares you will get, which equates to more exposure which potentially leads to more income.
Writing blogs is also a great reference to use for when you apply for jobs. The recruiter can visit your blog site and see what you are passionate about. You never know, it may even be the deciding factor in you getting that dream job.
There are so many platforms one can utilize for FREE to get exposure:
6. eBooks
This ties in nicely with blogging, writing eBooks is a great income booster. It may not make you rich, but it does help extend your disposable income.
This is a personal favorite of mine because people tend to buy knowledge. If you have a particular skillset or information that you can share with other's then consider creating eBooks and monetizing your knowledge.
You don't necessarily need to sell the eBooks to generate money. eBooks can also be used as a tool to capture emails from potential clients. Think of it as a trade between two willing parties. Be willing to give them something (i.e., your eBook) in exchange for something of theirs (i.e., email contact). You can build up your email list like this, potentially creating a database of potential customers, building up your contacts for any future products or services you may want to advertise or sell.
This opens the door to reaching people who trust you already and allows you to start becoming an affiliate. Get started by targeting the people who are on your email list.
Or alternatively, if you are looking to make money from property investment then I'd highly recommend purchasing this eBook. A small fee today to save you thousands of dollars in the process - Sounds like a bargain to me.
7. Personal trainer
Looking to work your own hours? Then personal training is the option for you! You will need to have a passion for fitness and you will need to study, of course. Remember, personal training is a lifestyle and not a hustle. If you aren't prepared to commit yourself then don't bother at all.
My good friend, Keegan Van Schalkwyk, is one of the best personal trainers in the country, and if you are considering going this route then I'd recommend learning from the best. Click here to contact him
8. Translator
This is often an overlooked and underrated business idea. If you can speak more than one language why not turn this into a money-making opportunity. There are always people wanting documents translated into their mother tongue. You could work in your own country's embassy or in an embassy in a foreign country, ensuring that translations are accurate and that expats in that country are serviced.
Or alternatively, you could go at it solo and advertise your services on expat groups on Facebook. Moreover, you could also teach a language at a school in a foreign country. The options are really endless if you can speak a sought-out language.
Consider upskilling yourself by learning a new language.
Chinese
Spanish
English
French
9. E-Commerce store owner
Consider selling your products online to reach a global audience. Depending on your niche you could attract buyers from all over the world. So, even if your local economy is not supportive of your ideas/products, you could easily target people from other countries. Sites like Shopify make it possible to reach a wider audience. You no longer need to be reliant on your domestic economy when you have a global economy available to you on the internet.
You don't even necessarily need to sell your own product, utilize drop shipping to see what sells and what doesn't, then pivot into the direction of your most sold items. It is a great way to add more products to your site too - making it more authentic. It allows you to mitigate risk by not owning the merchandize, thus minimizing the risk of having too much inventory in stock.
Global retail e-commerce sales are projected to reach $27 trillion by 2022, and global fashion will account for 36% of online retail sales. It’s no wonder that this has become a popular route for many aspiring entrepreneurs,
10. Dog walker
Walking dogs sounds monotonous and mundane, but can be a great weekend gig for extra cash. Another growing trend is dog grooming. People are spending more money now than ever before on their fur babies. This is a market that hasn't run out of steam yet.
In addition to doing this, you could also set up an e-commerce website like mentioned above - sell customizable dog leashes. With each sale you make you could offer a dog walking service for people in your community, or alternatively, upsell to people ordering from other regions. It is a proven fact that companies increase their revenue by upselling items to existing customers. Why not do the same?
The doggy industry has so much potential. People are always concerned about their animals. You could even offer a 'hotel for dogs', for when their owners go away on business or holiday.
11. Pet sitting/ House watching
Sticking on the topic of animals - offer your services to house watch or to look after animals for homeowners going away on holiday. Print yourself some business cards or flyers and put them in people's postboxes, or run an advert on Facebook advertising your services. Whatever country you are from the holiday period may be a bit different, so be sure to plan and research.
Remember, just like any business you need to commit time, effort, and capital into making it a success.
12. Catering business
A catering business in a small town is a little more difficult because the market tends to be heavily saturated. So, if you decide to venture off in this direction be sure to be competitive and offer something different. Try to be as innovative as possible.
Start advertising your catering business or food products first before you look to spend tons of money on the business itself. Another strategy is to take pre-orders for events so you know exactly how much you need to make beforehand. This allows you to drive down costs and mitigates the risk of throwing out food items that haven't sold or have expired. Pre-orders are a great way to gauge the demand for your products/business before you go ahead and spend time, money, and effort on it.
Another option is to consider a mobile catering business, go to where your customers are. This could be a great strategy to ensure longevity because you aren't location dependent, however, there are pros and cons to this, so do your research. It is also important not to spend too much money trying to create the perfect mobile truck, start off small and scale accordingly.
There really is no point spending thousands of dollars building a mobile catering business, but not being able to generate enough sales to cover your investment. It might take you 10 years to break even after selling a couple of hamburgers here and there, and yeah, there is nothing wrong with that, but the problem that most don't realize is the opportunity cost of money. The time they lost out on from investing their money into an asset that produces a low rate of return. (ROI)
If you want to understand what I mean by return on Investment (ROI) then I'd highly recommend checking this eBook out. It explains what ROI is and how you should buy assets that generate cash flow.
13. Tree Trimming/ Waste Removal
This brings me to what I mentioned earlier, buying assets that have more than one utility. For instance, buying a truck to help you with your waste removal jobs. Cash producing assets pay off the finance that was needed to buy the asset in the first place. This is smart debt.
Waste removal and tree trimming can be a lucrative business to start, however, it requires capital and expertise, so be sure to do your homework and learn all you can about how to start up a tree trimming business before jumping straight into it.
You'll need to ensure that you have the right equipment and insurance to cover any unexpected situations. Check out this video for some more great tips
Whoever said that money doesn’t grow on trees was apparently wrong.
14. Cleaning Services
This could potentially be the most successful businesses in 2021. Because of covid-19, more and more people are becoming consciously aware of the environment they spend their time in. Businesses are putting more of an emphasis on hygiene because their customers are demanding safer and cleaner environments, they don't want to go to places that aren't up to standards. This is ultimately creating a gap in the market.
Consider opening a cleaning service and help people keep their homes or businesses clean and up to standards. You might be required to do the cleaning jobs yourself until you’ve made enough money to hire employees, but we do what we do to survive, right?
15. Home Bakery
If you love to bake this could be an extremely rewarding and doable business for you. You could link this idea to starting and growing a catering business too.
If you have the space and equipment at home then this is an easy business to kick start as it requires very little overhead costs. You could easily sell your products online or advertise it through a Facebook page. Or better yet, you could arrange for your products to be delivered to local food stores or restaurants in your area. You'll obviously have to do the groundwork and give out samples to become trusted, but it's quite simple - quality food products are easier to sell.
All this potential from your kitchen and a FREE Facebook page.
Remember, being an exceptional baker doesn't automatically qualify your business for success, you still need to identify your target market, know who your competitors are, and know how to price your products. On top of this, you need to think of a catchy slogan, and ensure your packaging is eye catching and easy to identify.
My advice would be to focus on a few items at first rather than on many different items, because if your first few items are not well received it will be difficult to start selling additional products after that.
Lastly, don't be completely fooled, there is of course running costs involved, but they are a lot less than many other start up business ideas.
So, I think it's time to transform your grandma's secret recipe into mouthwatering treats that brings the money rolling in.
Sidenote:
Regulations on operating a commercial kitchen from your home vary from country to country, so be sure to comply with regulations and sanitary regulations. This will instil trust and confidence in your brand.
16. Graphic designer
Consider going solo and setting up your own business, especially if you know your way around Photoshop, Illustrator, and InDesign.
The number of brands trying to compete for consumers attention is growing daily. A quality image is becoming more and more important for all businesses to have. You could easily selling your skills to businesses who are trying to stay relevant in the 21st century - digital world. Almost every small business will need some amount of graphic design work now and again, this is a perfect opportunity to capitalize on this.
Consider creating a profile with Fiverr , here you can create a profile and advertise your services for thousands of customers across the globe to see. If graphic designing is not your strong side, then consider these other alternatives: (All available on Fiverr too)
Freelance writer
Transcription services
Resume writer/designer
Voice over artist
Again, you won't go wrong using Fiverr, consider using the site to generate extra income for yourself.
17. Yoga Instructor
This ancient Indian practice is attracting many entrepreneurs each year and is leading to a rise in customers seeking out wellness facilities. These customers are after tranquil moments that offer serendipity experiences, to help them destress from everyday life.
The health and fitness industry is exploding because of this shift in the attitude towards living a better and more productive life. Health conscious fanatics are turning to yoga as an alternative to the traditional way of working out, in search for optimum physical and mental well-being.
If you have a passion for yoga then consider starting a weekend business where you offer group classes. You can gauge the demand for how many people would be interested without risking a lot of money going at it full time. Start small and then scale as you begin to attract more people.
Here are 7 tips to help you get started:
Get certified
Create a plan of action
Pick your yoga specialty
Get a brand
Market your brand and offer your services.
Build a customer base
Choose a fixed location
Check out these common mistakes Yoga instructors make
18. Personal Shopper
Think of how much time you waste spending going to the shops, just to end up getting 6 things you never wanted in the first place, and then forgetting the one item you went there for. People pay for convenience - that's a fact. Whatever makes things more convenient - people will pay for. A personal shopper can help busy people reclaim this time for a small fee.
From my personal experience, I outsource work that costs less than my per hour rate. If I earn $100 dollars an hour, and I plan to spend 3 hours shopping, that just means I have effectively wasted $300 dollars, right? because my hourly rate is $100. So, of course I'd pay someone $100 dollars to save me 3 hours - you get the picture?
People pay for convenience to save time
This doesn't only apply to shopping, think of any activity that is monotonous or mundane that people would pay to outsource. Then target those people. For example, you could stand in a line for someone or start a delivery service.
19. Podcaster
Having your own podcast allows you to reach a wider audience. Think of the radio and how they disseminate information, now think podcasting and the potential for your own content to be promulgated, your reach is endless in the digital world. This could lead to new sales and provide you with opportunities for sponsorships. Many businesses have begun partnering with podcasters by sponsoring them with their products, in turn for them to advertise it through their network- earning hefty commissions in the process. Once you have an established brand, you can then drive up revenue by utilizing affiliate marketing or by selling your own products.
20. Social media influencer / Social media manager
Becoming a social media influencer is no easy task, it really is more difficult than it sounds. Firstly, pick a niche, are you going to be yourself? Or are you going to be a brand? Decide what you want your audience to gain from you. Are you doing make up tutorials or are you discussing sports? The key thing to remember here is that you need to offer value, if you can offer value and keep your audience engaged then this is a growing opportunity for you.
You could sell Instagram posts to other aspiring influences, market your own product, or market other established brand's products. If you already have a large following then this is a great opportunity for you to earn passive income. You can advertise local products from businesses in your area, or get involved in affiliate marketing.
It's important that you take this seriously if you want to succeed, there are no short cuts to success. Once you have an established brand or a successful strategy others can emulate, then consider managing other's social media accounts as their social media manager. If they have seen your success, then they will believe you when you say you'll make their brand successful.
These are currently my favorite twenty business ideas. I hope they have added value to you somehow, and that it has sparked an idea within you to make more money.
If you would like to thank me, then consider buying me a coffee - Ill be forever grateful.
Here is to 2021 and to our successful businesses.
