Finance Friday, Parent

6 Different Types of Businesses You Can Start

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You might think that starting a business is limited to offering a service or opening some type of store or restaurant, but you’d be wrong. There are many different businesses you can start. Some will be better suited to some people than others. In this article, we are going to go over each one and discuss how to get started.

Use your Network

Start by looking around you. If you have a vast network of friends and associates, why not charge admission? Organizing mixers for business professionals or people within an industry is a good idea for people who enjoy networking and events. Just pick a place, add some refreshments, and invite people to attend for a fee.

Handle the Details

If you are more of an introvert, you could offer to handle details for someone else. Lots of people are on the lookout for virtual assistants, online researchers, and personal shoppers. People who have a knack for research or are comfortable working online may enjoy this opportunity. All you need is a mobile phone and a good Internet connection to get started.

Sell, Sell, Sell

Retail is another option. You could purchase items to resell, craft products, or clear out your closets and sell it all on eBay. Fashion-focused people may also want to consider selling their clothes through consignment online sites such as Poshmark. While it can take time to get an online retail business up and running, it is easier than opening a brick-and-mortar store.

Use What You Know

If you have a trade or skill, you can use what you know to make money as well. Accountants can be bookkeepers, teachers can be tutors, hobby camera enthusiasts can be photographers, musicians can offer music lessons, and website developers can build websites. Reach out to people in your network and let them know that you are providing your services for a fee. Add a website or a few flyers, and you are ready to go.

Freelance

Freelancing is another option. You could write articles, design graphics, draft resumes, create social media plans, and more. While starting a freelancing career does involve leveraging what you know, it’s more entrepreneurial because of the myriad of different jobs that can fall under that umbrella. For instance, if you are a social media manager, you will work with people and write posts as well as be tasked with responding to comments and creating graphics.

Direct Sales

You could also consider direct sales. It is a great way to set your own hours and be your own boss without needing to have much outlay. Direct selling is different from pyramid schemes or multi-level marketing. Those involve getting paid by recruitment.

In contrast, direct selling means getting a commission on items you sell outside of a retail establishment. The advantage here is that you may get training, mentorship, and a business plan. This video provides a good explanation—it describes how to make money with Amway, a direct selling company that offers home, health and beauty products. It will help you understand different types of businesses so you can think about all of your options before starting your own venture.

Conclusion

Whether it’s doing freelance work, a side gig or starting an entirely new venture, there are many different businesses you can start. Review your options carefully and decide on a path to entrepreneurship that works for you.

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