Category: Business Ideas

Profitability of a business mainly depends on the industry chosen. Some industries go to past when their lifespan finishes, while the other become popular. This article will mention the 5 most profitable business sectors. Take a look at them and think which one appeals you more than other.

Mobile Businesses

We are not talking about a production of mobile phones or developing the apps. Mobile business are business operating where the customers are, which are instant and easily accessible.

1. Auto repair

Auto repair services and maintenance are always needed. If you are a skilled worker and have at least a basic knowledge on how to change the oil and refill fluid, then open your mobile the repair service of vehicles. You will be amazed by how much many people can pay for this service.

2. Food courts

Here your success may depend on a location, service and the variety + quality of food. Make some special dishes that will look appealing and taste deliciously.

3. Mobile phones repair

Nowadays people are obsessed with their phones. Many of us eat, walk, ride a bicycle and even sleep with gadgets. Therefore, when our phones break, we are ready to spend as much money as needed to bring our phones to life. Mobile phones repair can make you a millionaire in the 21^st century!

Businesses oriented on children/students

We live in a fast developing world with the population growing every day. Remember that kids are everywhere because of a baby boom and parents do not want to economize on them. That is why the business sector oriented on children is among the most profitable ones.

1. Services for post-pregnant mothers and newborn children

Lactation consultants and psychologists for mothers are always in a demand.

2. Additional courses

Music schools, sport centers and courses of hand-made for children use to be popular for the broadening the knowledge of youngsters and making their lives more fun.

3. Creating apps

New young generation is knowledgeable in all the electronics. Therefore, if you know how to create an educational and interesting app, then you are more than welcome to do so. Be creative and, therefore, you will become rich!

4. Custom writings service

Many students want to relax while their work is being written by anybody else. Thus, this business may become profitably for you to open.

Stuff sales

Under the words “Stuff sales” we mean the business sectors that operate selling the touchable items and products.

1. Clothes & Accessorize

There are quite a lot of shops and malls, where you can buy clothes and accessorize. However, exactly your business can become in the Top if you hire a couple of designers with a good taste. Why not to try?

2. Equipment for home

Sofas, beds, tables…Everybody needs these items! A market of home equipment is a competitive one but profitable as well!

Online courses

People often want to learn something new to make their lives fuller. Online courses are a good opportunity not only for the users, who can be taught at home, but also for the businessmen, who can economize on rent.

1. Language courses

English is a Lingua Franca of a modern world, this is the main language of business. Therefore, just hire the native speakers and ask them to teach people from all over the world. Although, English is one of the most popular language today, do not forget about Chinese, Spanish, Russian and a couple of others.

2. Hobbies

Courses oriented on the hobbies of different people are always worth starting up the business based on. For example, make a website and add some videos on the topics such as cooking, creating the apps, learning how to ride a bicycle and many others. You will earn a lot of money depending on a quantity of “clicks” made on them.

Oil & Gas

The top 15 billionaires in Nigeria and other countries have the businesses in the Oil & Gas sector. This sector has always been the most profitable one. However, it is really hard and expensive to start working in this field.

Image source: Flickr

Not all dreams turn into reality, similarly not all business ideas may substantiate into a profitable business venture until you strive to incorporate certain tips and guides to step into the market, you aim to enter. Having a leading clothing brand in your name could be one of your biggest dreams and you would go to any extent to fulfill it. This passion and resoluteness of purpose could be your driving force for sure.

If you have always felt that you have a pretty decent fashion sense that can be bought on the forefront and is capable of leaving an everlasting impression on the vast majority of the population then take it up as profession and gear yourself up. However, before you set up your own fashion business, the most convenient being online, you can derive inspiration from similar online fashion stores like Sophie and Trey, Eddy Bauer or Nordstorm, who even have their own fashion blog. Carrying out more market research will help you gather viable information to take up this endeavor as starting a business is no small feat.

1. Initiating a fashion business is a bottomless and demanding profession to step into

The highly dynamic world of fashion demands fashion entrepreneurs all over the world to commit themselves to self-discipline. Aspiring to setup a fashion business of your own requires persistence, resolution and enthusiasm and it is all the more challenging as it is an industry with a lot of competition. Minute details need to be taken care of from the generation of the idea, design and development, production and supply chain, marketing and PR on to sales and distribution . Even if one of the pieces of the puzzle is missing your business prospect may backfire. This is why you need to think in the capacity of a CEO first and own up for the gains and loss that you face throughout the journey.

The opportunities are endless and the level of creativity which you can display is also many and varied.

2. It will take time before you start to earn a living from your business

You need to come to terms with the fact that your expectations need to be toned down and that being an entrepreneur involves its fair share of risks which you might need to undertake to be successful in the future. It might take a considerable amount of time for your ROI to actually start generating. You might have to invest a substantial amount of your own money and even repeatedly invest to drive the growth of your business. You just need to have the inner resilience and belief that you can do it.

3. Self-assessment of your  skills and network

What team work can achieve certainly cannot be accomplished by individual effort. All entrepreneurs are well aware of the fact that they the need some sort of credibility in the market and for that they need a good network with whom they can partner to spread out their roots in the fashion industry.

Building your skills is the first step to filling any loopholes that may deter your growth and so that you are not like a square peg in a round hole. Although fashion designers do not necessarily need to have a degree certifying their professional training, a missing foundation in this regard can bring you at a stage where you will be puzzled by the trends in the industry, which you need to familiarize yourself with. Before you actively try to seek a market share in the fashion industry you need to have some substance and sound knowledge which helps you stay aware of the ground realities.

A well thought out and innovative process is the key to driving a fashion business that is on the road to unprecedented success. The whole process should be so well organized that it not only works out for you but for others who are working with you too. You need to analyze if you have the required personnel and resources which can be leveraged to make your business a profitable and productive venture. Do not hesitate to delay your venture a bit into the future until you are fully equipped with the skills set and tools to make it a success.

4. Keep well abreast of the competition

Never underestimate the potential competitors that could possibly be a hurdle between your business and your final destination. You might feel that you are unique in the market but you need to search up similar brands operating in the same niche as there are chances you might come across competitors that may not be in direct competition but may pose a potential threat in the future. Consumers have a certain perception regarding brands and the way they categorize it in their minds. Catering to their mindset should be your utmost priority; hence market research is an absolute necessity.

5. Integrating social media into your business

In order to be the cynosure of all eyes you need to market your business in a way that appeals to your target market. You need to differentiate yourself from the rest of the brands by making social media, a compulsory part of your marketing and strategic campaign. The digital era that we live in goes above and beyond mere print advertisement or direct mail to be more specific.

Consumers are all the more demanding these days and feel the need to stay updates in real time. Fashion trends spread like forest fire and there seems to be a non-exhaustive race for surpassing the other. Here, is when you need to ally strongly with social media to create an online presence that is ever-lasting. Social media offers almost free of cost advertising platforms that are sure to boost sales and revenue. Your social media posts are sure to arise the interest of many people in the fashion industry, alike. If you wish to grow your brand organically your social media content and strategy should be synchronized perfectly well.  As you may very well know, most start-ups come into existence via the dynamic online platform that is accessible to the general public.

6. Develop a portfolio

Let your work speak for itself and have a collection of well shot photos that speaks volumes about your quality work and helps you create your own unique identity. Featuring your best and most superior quality work in one place is sure to sell your work at a decent price. 

The fashion industry sure is unpredictable and highly dynamic but if fashion business ideas and implemented in the right way they can be exceedingly profitable, attractive and rewarding in the long run, as there is no chance that this industry goes to a low ebb.

Sometimes, we would want to join the smart home revolution but we fear that the budget might overwhelm us. As it turns out, an average rental tenant or home owner can afford plenty of components as far as home automation is concerned. Money is only a problem if you want high-end home automation. If a home owner would be willing to wait for the early adoption phase to be over, components for home automation will even be cheaper. Progressive Automations’ website 12vactuators.com can be used during the course of home automation. Below are components a home owner can acquire for less than $100.

The first component a user can get under $100, are the smart outlets or smart plugs. They are wall extensions which provide better control of the devices and appliances connected to these outlets. The most popular of these is the Belkin Wemo switch which goes for around $45. It has a great name, the best promotion and marketing surrounding it, plus it is easy to use. This does not make it the best choice but there is a consolation in knowing that there are many users of the switch and thus is even easier to get help in case problems come along the way. Other switches that are less versatile than the Belkin Wemo switch include the Ankuoo NEO that only costs $31 and a better brand, SmartThings power Outlet that goes for $55.

A user can also enable smart lighting as another component of home automation. For maximum convenience, specific lighting systems can be bought, that have the best elements of smart technology build in them. Phillips Hue Lightbulb is the most recommended solution, and goes for $20. it is an LED bulb that is designed to save up to 80% energy than the traditional bulbs. You set it to trigger according to a timer or even control it remotely with a smartphone app. Other alternatives to the bulb include LIFX Dimmable Smart Bulb that goes for $99.

Smart sensors are another key component of home automation. Sensors of different types are available depending on the smart home hub you choose, that range from temperature sensors to motion sensors, from weight sensors to humidity sensors. The Aeon Labs Multi-Sensor is a good place to start if you do not have a clue where to start. It is a four in one solution offering sensors for humidity, lighting, temperature and motion. It uses the Z-wave protocol for communication and only costs $49.

Gardening is a practice people carry out to blow off work-related steam. Sometimes, it gets cumbersome, for example in knowing at what rates to water plants. Smart gardener comes to the rescue. The Parrot Flower Power is a good smart gardener to start with. It is a smart plant sensor that in real time, tracks your plants’ health. The information is then sent to your app. It costs $60.

The Smart Egg Tray is also a component you need to smarten up your home. It holds up to 14 eggs and has sensors to know which egg has stayed the longest thus you can be able to track the eggs going stale. It also syncs to your smartphone and you can be able to know when you are running low on eggs. It goes for $10.

In setting up home surveillance, you need several smartphones that you do not use anymore. Using mobile webcam apps, set the phones up and once they are ready, use Webcam Watcher as central monitoring station for the smart surveillance. An alternative to this is the D-Link Wireless Surveillance Camera that goes for $47.

Home automation help entrepreneurs. By setting timers on various appliances, a lot of time is saved for the entrepreneur who can use this time to do other things. For example when they wake up, the coffeemaker will already have made coffee. Entrepreneurs’ efforts are also saved by sensors in the house. During their course of day, they get tired and would not want to go home to turn on air conditioning, the sensors do this for them.

Article Contributed by Cameron Johnson

The world of independent contracting is expanding every day, and many budding entrepreneurs make the decision to start their own consulting business. Unfortunately, people can get caught up in the fantasy of being their own boss and thoughts of making huge amounts of money.

What it takes to have a successful consultant business is a lot of organization, heaps of motivation, and a desire to keep learning. After you have become an expert in your field, what’s next? The following are a few essential steps to follow to start your consultant business.

Become an authority in your industry

Some of the most popular consultant industries today are advertising, accounting, and business. Odds are, if you have worked in any of these fields, you are already qualified to start your consulting business. However, to be a highly sought-after consultant in any industry you will need more than a few years of experience under your belt. The most frequently considered aspect when businesses are hiring a consultant is if they have been certified in their field.

For example, if you wanted to become a business consultant you could get a certification from the Institute of Certified Business Consultants or go through the Association of Accredited Small Business Consultants. Getting certified not only adds a little meat to your resume, but it lets new clients know that you can be trusted and that you are serious about your business.

Identify your target market

Narrowing down who you will be offering your services to will save you money on marketing and advertising, and it will also keep you from getting frustrated and burnt out. Businesses are spending over 12 billion dollars on consultants every year. That’s a lot of money, but you won’t be seeing much of that if you don’t know which companies you should focus on with your marketing campaigns.

Kyle Wong, CEO of Pixelee, recently wrote an article for Forbes breaking down the time he spends on every aspect of his startup. In the article, he says that he spends about 10% of his time on “strategy and preparation” aka marketing. While he may not be a consultant, he is certainly an expert in his field of business. Narrowing down your market by location, age, and income are just a few of the ways to begin identifying your target market. The more detailed you can be, the more success you will find in your marketing campaigns.

How to start finding clients

Before you can focus your energy on customer retention, the first step will be to start landing your first clients and creating a sales funnel. Direct mail advertising is one of the most widely used direct marketing tactics to drum up businesses for a new consultant. It offers an opportunity for you to lay out everything you have to offer to a very specific group of people in one nice little package. While this may provide the best targeted approach cold calling and referral programs should not be ignored.

The value of interacting and networking with people face to face is irreplaceable. Whether you are going door to door or calling people on the phone, speaking to someone directly can get you in the door with an individual who can hire you much faster than direct mail advertising.

Try contacting businesses in the early hours of the morning between 6:00-8:30 a.m. because you will be more likely to catch someone who is more open to hearing your sales pitch. If the person you contacted turns out to not be a good fit for your services, but you have built a good rapport with them, ask for a referral. When dealing with B2C and B2B lead generation, referral programs generate 300-400% more return on investment than all other marketing strategies combined.

Although starting your own consultant business can be intimidating, taking the right steps to ensure that you have the background necessary to offer your services to others will give you the confidence you need. If you stay focused, organized, and market yourself wisely, you will be able to get your new business off the ground in no time.

About the author: Cameron Johnson is a business consultant and entrepreneur. Over the course of his career he has conducted case studies on both social media optimization and non-profit marketing. Cameron has also had the opportunity to speak at international business conferences and was recently recognized as one of the world’s top 100 advertising experts to follow on social media.