In a small country like Austria, there is still an abundance of economic activity and opportunities available for those looking for it. Furthermore, with the current advancement of technology, one can even join in economic activity in other countries e.g opening a store on eBay or Amazon. If you want it, the world could be a place without boundaries.
On top of that, with the current condition in the world (weak economy due to a pandemic) having an alternative source of income would be a good idea. You don’t even have to quit your current job. Just start part time and keep building it until you are comfortable switching over, if you want.
That being said, where should you start if you want to start dabbling in business? In this article, I will provide 5 of the most popular small business ideas that many have used to begin their journey in the world of business.
This has to be the most popular avenue for someone who wants to start a business nowadays, where almost everything is done online.
Doing e-commerce will incur a far lower cost than doing business offline as you do not have to have a physical location. You do not need a brick and mortar store that you have to pay monthly rent or mortgages. The only rent you have to pay online are the web hosting and domain name costs. And that is dirt cheap comparatively.
The most glaring advantage in having a e-commerce store is that you can sell worldwide. You are not limited just to the place you are currently based at. If, for example, your product is sought after by people of other countries, all you need to sort out is how to deliver to them. There are many options for that out there. Furthermore, your customer pays for that too.
Make sure to research what kind of product/services the market wants and build a niche from there. Learn some advertising and how to do marketing online and you are good to go. Continuously learn how you can improve your services and products and the marketability of both.
For those who are more into food and beverages, this is a great option to start with. Almost everyone likes to have a good cup of coffee and snacks to pair.
You can rent a small kiosk at the shopping mall and start from there. Or get yourself a mobile cart and peddle your stuff where many people congregate. Both options have their own advantages. Being mobile allows you to be where there are many foot traffic, e.g parks. Having a kiosk in the mall, guarantees you an already established stream of customers.
Of course, there are many cafes out there, so your coffee/snack business must be able to offer something that is different than the rest. For instance, having some artisanal coffee type from certain region or home made snacks-to-go that are healthy, filling and delicious. You can even be promoting environmentally friendly packaging or source for your snacks
and fair trade initiative for your coffee beans. The options are endless.
As you are involve with food and beverages business, make sure you get all the necessary licences and health permits and check with your local authorities to find out where you can operate.
If you have a skill in writing and in languages, you definitely should consider being a freelance writer. It is a good side business if you still want to keep your primary work. You can decide your own hours and how many write-up jobs you want to take. The best part is you just can work from anywhere you want as long as you have a laptop and an internet connection.
There are many companies, both offline and online, that are looking for good articles and content that promote them and their products and services. Many online blogs and websites too requires materials for good contents that are engaging and brings them increased revenue.
Having a good knowledge and skill in copywriting and search engine optimisation (SEO) writing can further increase your chances of being hired for writing jobs. Both skills can be learned fairly quickly. As you become more experienced and your skill is well known and trusted, you can even set your own rates!
To those who have specific knowledge on certain subjects, you could try to teach online. Your students can be from anywhere around the world and not limited to age, locations and backgrounds.
You can craft a whole course and put it on Udemy or Coursera. The two platforms have thousands of courses between them and of various disciplines. So there is definitely a big market for online learning out there.
On the other hand you can also teach on YouTube and get paid from related advertisements on it when you monetised your channel. Or you can just direct them to your own course on Udemy or Coursera. A good content will always get a good audience.
The best thing about it is you don’t have to necessarily be an expert on a topic. You can be an entertaining, clear and simple teacher. As long as your content get thru to your audience and they love your presentation skills.
For those who are more entrepreneurial, how about you try a drop-shipping business as a kick starter? It is a fairly simple business model. You promote some products that is not yours with a marked up price (e.g on social media) and when there is a buyer you can message and pay the owner of the product, the original price of the item.
The good thing about this business model is that you practically do not need any capital to start. When your customer pays you, then you can use that money to pay the supplier. Your profit is the difference between the original price and the marked price. Do not forget to factor in cost of delivery into your pricing too!
Secondly, you do not need space to store the stuff that you sell as it’s not yours anyways. As above, you only need to contact the supplier once you have the orders and they will handle the delivery and the complaints if any. Thirdly, you can do this with as many items/products as you can handle. Always take note of which products are selling better so you can promote it more.
To promote it, you can either use your own website with Google Ads or your social media like Instagram, Facebook or YouTube. The key to this consistency and keep studying the product movements. Although it is not your product, doing a good customer service is always a bonus and pays in the long run.
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