If you have the urge to be an entrepreneur but are unsure of which business idea to pursue, seeing possible alternatives laid out before you may be the final piece of the puzzle you need to move to the next level.
Many people are looking into alternative career paths. Most eventually discover that the best way to achieve freedom and flexibility requires investing in oneself. It can be about upskilling yourself or putting up actual investments in a startup or a business.
However, it is crucial to know the expert perspectives before embarking on the journey. Whether it’s NFL expert picks or startup businesses, expert advice will help you better understand the subject.
Consider these seven attempted business ideas if you’re ready to move to the next level in your entrepreneurial journey.
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1. Rent out
When Airbnb debuted in 2008, the idea of subletting a random person’s home over the weekend seemed unusual and unfamiliar. Nearly 15 years later, the “sublet economy” has spread throughout the country. A slew of “Airbnb for X” startups help individuals turn existing assets into profit-making potential.
2. Develop an online course
E-learning was worth $250 billion in 2020 and is expected to be worth $1 trillion by 2027. Offering online courses can be a lucrative business if done right. There are few barriers to entry, and the profit potential is enormous if done well.
To create an online course successfully, you must first build an audience of people looking to buy it. Building an audience can take years. Online course marketplaces such as Skillshare, edX, or Udemy can be an excellent way to get started in this field.
3. Live Group Program
Do you want to collaborate with a range of consumers or clients simultaneously? Consider providing a live group program with a distinct beginning and end.
Over the last couple of years, virtual group programs have boomed, with online book clubs, fitness challenges, and social clubs, rapidly becoming profitable business models. When marketing a group program, emphasize how working in a group environment fosters more community spirit (and is often less expensive) than working one-on-one.
4. Freelance Career
Online job markets such as Upwork and Fiverr have assisted millions of freelancers in supplementing their revenue or making a living from home. LinkedIn also recently introduced its services to the global market, indicating another dramatic career opportunity change.
Are you a writer? Are you skilled in social media, recording, and coding? Offer your skills to people looking for work online. A digital assistant job is prevalent; your clients will tell you what they want you to accomplish.
5. Start an eCommerce Business.
E-commerce has grown in popularity, and services like Shopify and Fulfillment by Amazon have enabled you to bring your innovative product to market in weeks or months instead of years.
Indeed, e-commerce businesses are in such high demand that venture-funded portals such as Thrasio and Perch have emerged on the scene to obtain your product-based business. Making your product allows you to develop your brand image along the way.
6. Provide Home Delivery Services.
Many of us have grown accustomed to sitting at home and getting our products delivered to our doorstep over the past two years. Consequently, an entirely new universe of delivery services has emerged.
Do you believe there is a need in your society for specific individuals to have items or services delivered to their homes regularly? You might even have your next profitable business idea if you answered yes.
7. Begin a Paid Newsletter or Monthly Subscription.
Some experts are taking the creator route and launching their own paid subscriptions. Suppose you can quickly create content that is beneficial or exciting to others. In that case, you only need an internet connection to start your niche media conglomerate.
Similar models are followed by platforms such as Patreon and Substack, which allow media companies to market directly to their enthusiasts while reducing sales. The marketing strategy has Silicon Valley buzzing.
Such as the Data released its Creator Economy directory last year, mentioning that US-based creator startups will raise several billion dollars in investment by 2024.