According to this article, 1,200 new businesses are started by women every day in the United States. Both men and women alike were forced to look at the future and sustainability of their careers when the COVID-19 pandemic hit.
In 2020, 4.3 million businesses were filed, the highest application rate since 2004. If you think you’re in need of a career change, you probably do. It’s best to follow your gut and go with what your instincts are swaying you to.
You might wonder, though, what are some small business trends and ideas you can jot down before diving headfirst into the world of entrepreneurship? First, take inventory of your strengths and what you know you can do.
Let’s talk about some quick points before getting into some potential career ideas.
Things You Should Know Before Starting a Business
Maybe you already have an idea for your business. Before we get into ideas, we wanted to cover some important areas you should consider before starting a business. Think of this as the technical side of your business before diving into the fun part.
Develop a Business Plan
A business is only as strong as its business plan. Think of your plan as your roadmap. Your business plan should include key targets you want to achieve for each quarter of your business.
A good business plan can help others invest in your business and want to work with or for you. Your business plan should fit you and your company's needs. The more detailed your plan, the better.
What Need Does Your Business Fulfill?
When mapping out your business, ask yourself how your product or service is filling a specific gap in a market. How are you bringing value to potential customers or clients?
When you're thinking about this, ask yourself who is your target market and why should they choose you over others offering similar services?
Funding Your Business
In the early stages of growing your business, many entrepreneurs recommend funding your business yourself. This is to avoid falling into debt. So, start small with a plan to scale.
Choose Your Business Name
Your business name should be unique and express both you and your company’s personality. Pick a name that is original and separates you from your competitors. Once you have the perfect name, protect it by registering it through the right channels.
Top 5 Small Business Trends
You’ve developed a plan, you know your audience, you know how you’ll fund your business, and you’ve chosen the perfect name. Now let’s list some ideas you can brainstorm to launch your business.
Idea 1: Virtual Assisting
The world of Virtual Assisting is quite expansive! There’s so much you can do and niches you can choose from. Chances are, you can leverage your past work experience for this career.
Idea 2: Social Media Management
If you’re visual creative and have a knack for social media, why not turn it into a career? Face it, we all do some form of interacting with social media, so if you have a passion for creating posts and captions, and a critical eye to analyze analytics, this could be the business for you.
Idea 3: Content Writing and Copywriting
Do you have strong writing skills? Why not offer that as a service to other small businesses and individuals looking to expand their online presence. You will need to know a bit about SEO and keyword research for marketing purposes.
Don’t let that scare you though! There are many free resources out there you can use to help you master the topic.
Idea 4: Data Entry
Many CEOs and business owners simply don’t have the time to do data entry. The work can be tedious, but many find its repetitive nature a good fit.
Idea 5: Personal Assistant
Again, some CEOs and entrepreneurs have crazy busy lives. They may need help scheduling appointments, booking flights, making travel arrangements, and simply just staying on top of day-to-day tasks.
If you’re naturally a detailed and organized person, this could be the ideal business for you.
Offer More than One Specialty
As long as you can do the work and manage tasks, you can match your specific strengths and offer it to potential clients. Many business owners wear different hats for different clients. So, see toss a wide net and see who you can catch!
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