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9 Entrepreneurship Ideas to Grow your Income

Entrepreneurship ideas featured image
There are countless entrepreneurship ideas out there. We've compiled some of our favourites. Image credit: Amelia Bartlett

Are you thinking about dropping your nine to five routine and starting your own business? If so, the first idea that may come to your mind is what your business project will be about.

Maybe you just want to start a side hustle to gain a little bit of extra income. These days, the internet has opened up countless new revenue streams to just about anyone with an internet connection.

Entrepreneurship is open to anyone. All you need is the right skills and attitudes, and a tiny bit of startup cash, and you can easily create a profitable business.

For example, you might start a blog or affiliate marketing blog, or start reselling items online.

Starting entrepreneurs, whether they are starting a low investment business or a medium-sized one, find it difficult to find entrepreneurship ideas. From artistic businesses to product sales, here are ten entrepreneurship ideas and some tips to apply them.

What Makes Great Entrepreneurship Ideas?

The best entrepreneurship opportunities are ideas which you can quickly get up and running without much of an initial investment. This could be a service, or a product based business where you can quickly move stock.

Entrepreneurship Skills infographic
Entrepreneurship requires a wide skillset. Image credit: HBR.org

The key here is to consider what skills you already have.

For example, if you have strong writing skills, you might start a blog, or a freelance writing business. If you have a lot of experience in business, you might go into consulting or coaching.

Alternatively, you might have a field that you’re passionate about. For example you could be into a certain kind of sport or music. In this case, you can look for opportunities to grow your income within this niche.

1. Career Coaching

Do you want a job where you can change people’s lives? Do you like the feeling when you experience a positive influence on those you deal with? Maybe you should consider career coaching. Career coaches are outstanding talkers and charismatic people.

There are many people out there struggling with finding a job. There are fresh graduates who are lost and trying to discover what they are good at.

In addition, many mid-senior employees are aiming for a career shift and do not know where to start. You can be the one to help them find their path. Career coaching is a great idea for those who do well in building communities.

2. Online Retailing

There is something very attractive about making sales. For some, it is their natural gift to sell things. Why not take your store to the digital world? Online shopping is growing rapidly, in fact, some big names are closing their stores and shifting to online shopping.

This is easy to explain. People are busier now than they were twenty years ago, so it is a lot easier for them to order online. Establishing an online shopping business can be a great idea. All you need is a website and some marketing skills.

You can easily develop your digital marketing skills and understand how to succeed at ecommerce.

These days, dropshipping is a popular way to do this. Essentially, this is when you sell items online, without ever handling them. Instead, you create an ecommerce store and come up with an arrangement for wholesalers to ship directly to clients.

Dropshipping stats entrepreneurship ideas
Dropshipping is popular across a range of different niches. Image credit: GrandViewResearch

3. Event Planning

For multi-taskers and those who like to be outside making things happen. Event planning is a great option. If you can put up with your clients’ demands, have a detail-oriented personality and you enjoy organizing parties, you can be an amazing event coordinator.

Individuals, corporations, schools, and even churches need event-planning services; it will not be difficult finding clients. However, you need to be unique and distinguish yourself from other businesses through punctuality, commitment, and organizing quality events.

Alternatively, you can easily start hosting theatre or music events. All you need is enough startup capital to rent a venue and promote the event. Then you can use ticket sales to pay the artists, and keep the remainder for yourself.

4. Home-Based Food Services

Are you one of those who spend hours bragging about how good their food is? If you spend hours looking for new recipes online to try them out in your lab, why not turn your passion into a money-making business?

This is a low investment business that can target endless kinds of customers. Everyone needs to eat. Employees, busy housewives, children, and even seniors love to grab an easy, delicious meal.

Moreover, this can be your first step towards owning a restaurant. If more people love eating your food, you can surely grow your business. An accomplished business idea is that which you can grow and develop. Home-based food services is absolutely one of those.

Alternatively, you might choose to start delivering food for restaurants using a service like Just Eat or Deliveroo.

5. Virtual Assistance

All corporate and business owners need secretaries. Nowadays, this job can be done online. You can start up a small company where you can offer your administrative services to busy CEOs and companies.

Actual tasks may include answering phone calls, replying to emails, arranging appointments and meetings, or data entry. You will need to hire a good team who can handle these tasks. Organisation and accuracy are crucial to the business of virtual assistance.

Entrepreneurship ideas VA salary
Experienced virtual assistants can command high salaries in many countries. Image credit: OfficialBryanGrey

6. Online Teaching

It seems that teaching will never go out of fashion. Private tutors and online educators are in high demand. A good idea for a start-up business would be establishing a teaching center where teachers of different subjects can offer their help to clients.

The best thing about teaching is its flexibility. It can be done online, in private, or in an educational center.

Your target market includes a variety of age groups. There are also endless subjects that people want to learn about. The subjects may be academic such as languages or mathematics, artistic like painting or music, technical such as coding, or even developmental like soft skills.

These days, there are countless platforms where any native speakers can make money teaching online.

7. Social Media Consulting

We spend hours on social media for nothing in return. If social media is your field of expertise, you should definitely start a small social media agency. As mentioned earlier, digital marketing is a must nowadays.

Many start-up businesses, or even established ones, hire digital marketing agencies to help them build a fan base online.

Social media is one of the most popular digital marketing channels, handling a business account on social media can be financially rewarding depending on your profile.

Luckily, this is an area of development. You can always learn more about social media and digital marketing.

Just about every business these days wants to have a social media presence, but they might not have the time or expertise to achieve this. They’ll often hire anyone who’s a strong writer or has basic image editing skills to manage their social channels for them.

8. Design

If you have an artistic side, freelance design work can be a lucrative field.

There are all types of design. These include interior design, fashion design, graphic design, mobile app design, web design, and logo design. Select the field of design that matches your background experience and your interests.

If you have a good technical background knowledge, do not go for fashion design. Online courses can be beneficial to mastering any type of design.

9. Fitness and Nutrition Consulting

Due to our modern lifestyle, obesity is becoming a threat to many. People are more aware now about the importance of a healthy diet. If you can offer nutrition advice and provide clients with custom-made nutrition plans, you can make money out of that.

Gym freaks can be great online personal trainers. Yes, you read that right, online personal training exists. Your online fitness programs may find clients across the globe. Furthermore, this is another area of development.

Your business can grow to become a fitness center, who knows? Getting a certificate of nutrition or fitness training will surely make your business look more professional and credible.

Entrepreneurship ideas online fitness coaching
Online fitness coaching is now the norm and brings great opportunities. Image credit: RunRepeat.com

How to Make the Most of Entrepreneurship Ideas

Whether or not you choose one of the ideas mentioned here, the best piece of advice would be to choose an idea that you are enthusiastic about. A lot of people may not know this, but running a business is a lot harder than a regular job.

It requires more commitment and you will need to invest more time and effort. Choosing an entrepreneurship idea that you are enthusiastic about will keep you going when you face challenges. Studying and planning are two major keys to succeeding as an entrepreneur.

Without studying and working on yourself, your business will go nowhere. Finally, a golden tip is to begin small then develop your business gradually. This will make your business grow slowly but steadily.

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