College students, hoping to earn a quick buck or two, are often found spending days and nights googling “start-ups” and having lengthy and more often than not, unfruitful discussions on how to start a business. People who complete their education and are not attracted to the temptations of a safe, secure, steady corporate life – often seek to utilise their parental wealth, or seek help from venture capitalists and other outside parties – and start businesses in areas of their interest or expertise.
Not surprisingly, there are also people who tire of corporate slavery and seek freedom and respite from orders, boundations, fixations, rules and relentless deadlines – and the course that they adopt is most often that of setting up their own small business. As a matter of fact, almost every person has, at some point of time or the other, thought of starting a small business.
Here’s a list of five simple and yet sure-shot ideas for starting a small business – without the constraints of stringent legalities, gargantuan capital requirements, complexity of process – that you can adopt and adapt to your specifications for getting hold of success the independent and easy way!
Tips & Tricks For Small Businesses
If you have always prided yourself on understanding and not by-hearting, if you got your concepts right in every course that you did, if you have credentials and mark-sheets that are appealing to the eye of every parent, and if you have a penchant for academics – tutoring is is definitely your cup of tea.
Tutoring doesn’t cost you anything more than some empty space, some sincere revision of old notes and extensive and aggressive marketing. One of the most primary advantages of establishing a tutoring centre is that coaching classes never run out of fashion, what with our increasingly competitive education set-up.
In fact, even the minimal infrastructural requirements that would be required to physically set-up a tutoring centre can be easily eliminated – you could set up an e-tutoring website and with the advent of Skype, Gtalk etc, the distance barrier would cease to exist and your outreach would not be local anymore.
Blogging is truly a writer’s dream come true. No harrying boss to keep you on your toes, no taxing deadlines that make you break into sweat in the middle of the night, absolutely no ego-balming and flattering publishers to atleast look at your work, and what’s more, you have complete creative freedom to write what you want to, when you want to, how you want to without fear of being rejected/edited.
Blogging has huge potential for revenue generation. If you manage to get really popular and secure a comfortable number of followers, you can easily earn a lot by placing ads on your blog. Placing ads has also been made extremely convenient and easy by services like Google’s Adsense, Adbrite, etc.
Other ways of generating revenue through blogging is allowing other people to talk about issues of their choice that they need to communicate to your readership and charging them a certain fees for the same. Some people also sell products and /or services through blogs.
Again, like e-tutoring , blogging has the major advantage of not requiring any infrastructural costs. However, blogging is not a profession everyone can adopt because it is highly skill-specific. Only people with a flair for writing can hope to make a success out of blogging. Furthermore, blogging takes time and stupendous efforts at marketing to yield success – that is, the gestation period is long and tiresome. Nevertheless, for people who can write about all and sundry – blogging is the way to go!
Social Media Management
Social media is here to stay, say experts. It has exploded into the marketing and public relations scene and caused quite a stir because of it’s immense potential and unmatched outreach. Be it social networks like Facebook and Orkut, blogging platforms like Blogspot, WordPress, Tumblr, etc or microblogging websites like Twitter, social media has single-handedly brought about a revolution in the way B2C (Business to Customer) interactions occur.
Every business now wants an effective, well-handled online presence, whether they are e-businesses or offline ones. Which brings us to the business potential of social media – social media management firms. At the basic office expenditure, you can set up a social media management agency that creates and manages the online properties of the clients who approach, for a certain fee.
If you want to take your social media management agency to another level all together, you could even hire professional social media executives to work for you. This would, however, require some financial capital to compensate them adequately. Social Media Management is a most preferable option if you are an internet addict, extremely web-savvy and are well-acquainted with every form of social media.
Customized Products And Services
One sure-fire way to ensure that your business is atleast moderately successful, is to offer personalised products and services. Everyone likes a bit of attention to personal preferences in products that they buy. When you sell goods that you can claim to have created specifically for that user, you automatically add a lot of appeal to the product and amplify its purchase-ability manifold.
Examples of businesses that sell personalised commodities include – boutiques, study material sellers, bakeries, jewellery sellers, greeting cards, chocolates, handicrafts, showpieces, artwork, etc. The only hitch in selling personalised products and services is that it increases the effort that one must put into the work. While one can easily design products for good and sell it to different customers in other cases, for this sort of a business, you have to re-do the designing part as well.
Nothing that you create once can be replicated to suit the requirements of another customer, because customer requirements are notorious for being absolutely dissimilar to each other in most circumstances. You have to create completely different products for different customers, and pay sincere attention to the minutest of details in order to make a success out of your business.
The above are the simplest and the most popular way to start a small business. Despite their commonality, competition almost never becomes a major threat in these businesses because of the the ever-expanding market for them, and that is what makes them highly alluring!