A new year, a new you: it’s a time-honored tradition to treat yourself to a spruce up as one year becomes another.
But the start of the next 12 months of your life isn’t just a chance to dust off your cobwebs and hit the gym, it’s an opportunity to make a big career change by starting a new business.
Running your own business is a challenging, but supremely rewarding, experience. If it’s something you’ve been thinking of for a while — there is no time like the present to get stuck in!
Below I have listed some of the creative ways that you can become a business owner in 2018 to help give you some direction and inspiration.
Help other businesses outsource
A B2B service-based business is hugely recession-proof. Unlike product-based businesses that ebb and flow depending on consumer demand, service businesses are always in demand. Why? Because they help other businesses stay afloat.
There are plenty of things that business owners are happy to outsource and get off their chest, including:
● Accounting & Finance
● Marketing & Comms
● Customer Service
Whether you are a good ‘all-rounder’, or have specific skills — setting up your own B2B business is a savvy move. You may even find that your skills are best suited to an advisory or coaching role — business consultants are always in high demand.
The best B2B businesses inspire confidence, show measurable results, and help busy business owners do more with their time (and money). You can also have a bit of fun with your brand and aim it at a very specific niche market or vertical.
Test case — social media manager & business owner
There are expected to be 2.62 billion social media users in 2018. That’s 35% of the world’s total population of 7.48 billion!
Given the ever growing popularity of social media it presents an opportunity for you to start a new business in 2018 as a social media manager/consultant.
Any company with ambition of surviving the age of social media will have an outlet to connect with their followers — and many companies are increasingly falling short of what’s required of them in this new social commerce age.
Spend some time researching the different platforms, or enhancing your existing knowledge of them, and then set up a business to sell your services. You can start by just working on a few smaller contracts, and build yourself up to business owner slowly. Once you have taken on more work, be smart about scaling and invest in virtual assistants and copywriters to help you service more clients.
Make money from your own personal brand
Imagine if you could get paid just for being yourself?! OK, it’s not as easy as that — but a stellar online brand can definitely be something to monetize and profit from. If you have a compelling story to tell, a gift or flair — start making the most of what you’ve already got. A lot of online personalities only made it because they were brave enough to put themselves out there.
Number one rule: be clear on what you want to achieve from day one. If you’re looking to build a business here, you will need to invest in your branding, drive traffic, and have plenty of ways to make money from your brand. Just creating a website won’t guarantee you’ll have a business to run — be prepared to put in months of brand development time. Just because it’s also personal, doesn’t mean it’s not professional.
How to do it with blogging
If you fancy yourself as a wordsmith then you could put your gift into practice by creating a blog and making yourself the owner of your own blogging business. Gone are the days when a blog was the journal for those with dimnaliphobia. There are now a number of ways that you can make money as a blogger:
● Guest posting – you can either sell space on your own blog, or uses guest posting as a sales strategy to sell blog tie-ins like coaching calls and digital products
● Sell advertising – sell advertising space on your blog, or monetize your content through product and service reviews
● Affiliate marketing – this is where you link out to a product being sold on another site. Each time someone follows the link and buys that product you get a commission — Amazon’s affiliate program is very easy to get set up with
● Training – you can sell your services as a blogger to those looking to become a blogger and show them how it’s done through courses, or training guides/videos.
Start investing in other businesses
When you hear “flip” you probably think of burgers….Well, while you could make some extra cash setting up a burger business, we think that you’ll find flipping websites and businesses a much more creative way of becoming a business owner in 2018.
Investing in other businesses and being part of their journey is a surefire way to quickly become a successful entrepreneur, and you don’t need bags of cash to get started.
How do you do it? It’s simple. Flipping websites is the art of buying a website and then selling it on for a profit. You can do this by visiting one of the many online marketplaces and then selecting from the vast array of websites on offer. Improving a website generally comes down to creating better, fresher content. Ecommerce stores are especially great website investments, and you may even find that you stumble on an exciting brand you want to take all the way yourself!
While it’s difficult to put a precise figure on how much you could earn from the business of website flipping, some flippers have made over $50,000 in less than two years. Suffice to say, it’s a profitable business to be in. Use your passion to find an underserved niche.
Great businesses are created when passion meets niche demand. Mine your fields of interests to find something that you’d be happy to devote lots of time to, but only if you can justify your investment with a ready and waiting marketplace. Peddling your dreams to an empty room is just depressing!
Vegans — your new customers?
Due in part to the age of millennials and now linksters, veganism has grown over 500% in the US since 2014. This makes producing vegan food not just a creative business idea for 2018, but a cash almond that you can milk to bring you a company that has the potential to explode. Vegan food sales is a market worth over $3.1bn a year. You could make 2018 the year that you take a piece of that market for a business that you own.
The key is to find a way of turning an existing non-vegan food into one that is suitable for vegans, as this way you can corner a part of the market and have a product that is totally unique. Focusing on nutrients, health, and superfoods is also a lucrative way to make the most of changing food trends. Another angle to take would be to create vegan products (makeup, fashion etc) and make the most of ethical consumerism.
For 2018, make your New Year’s resolution not to have a new you, but to be the owner of a new business.
Recommended reading: Financial Issues In Business Startup<
Victoria Greene is a freelance writer and ecommerce specialist. On her blog, VictoriaEcommerce, she shares her experience in blogging, ecommerce, and entrepreneurship. She is passionate about helping companies and individuals develop their business.