Have you ever stayed up late at night dreaming of starting your own business? Do you have a desire of starting a business to occupy your spare time and earn extra income, or are you ready to take on some of the corporate giants?
No matter what your motivation may be, 2017 is an exciting time to investigate the possibilities that exist for those with an entrepreneurial spirit. With the constant evolution of technology, and the consistent rise in social media use by all demographics, the opportunities that are available for those with the right energy and optimism are numerous.
Let’s start off with a look at some of the most profitable industries for small businesses. Then, we will visit a valuable resource site for both current business owners as well as entrepreneurs in the making. Finally, once you are ready to launch, some marketing tips will be offered.
Profitable Small Business Industries
So, here you are, sitting at a coffee shop on a rainy Saturday morning contemplating what type of business intrigues you. Above all, ensure that the industry you choose to do business in is one that you are passionate about. This will make your work seem less like “work”.
Carolyn Sun, a research editor at Entrepreneur, compiled a list of the 15 most profitable small business industries. One industry that is prevalent throughout this list is service, as they tend to be cost effective to start and can originate from someone’s home.
Here is a sampling of the more profitable small business industries compiled by Carolyn:
- Management holding
- Real estate
- Auto rental
A Friend in the SBA
The U.S. Small Business Administration is a vast resource that should be bookmarked on every potential and actual entrepreneur’s computer. Here you will find helpful suggestions on a wide range of topics including:
- Everything necessary to start a business
- Managing the business finances
- Human resources
- Sustainable practices for business
The aforementioned list is only a beginning of what you will find with the SBA. What many promising small business owners are not aware of is the assistance with loans and grants that can be found through the SBA. They are here to help people like us fulfill the great American dream.
Building Your Brand
The question that every business owner, regardless of size, ponders is how to best market their brand. Without an efficient marketing campaign, your target market will be “in the dark” to what your latest offerings are.
According to the SaaS Marketing Agency, an effective marketing system will place your brand in front of the eyes of interested prospects. The “cycle” that some systems utilize flows in a timely fashion as such:
- To attract
- Then convert
- Effective close
- Delight the customers so they promote your brand
Inspiration can be found, for those who are contemplating opening their own business, by opening your eyes to the success around you. Take a stroll down Main Street of a small town. Look at the small shops, go in and talk to the employee(s) or the owner. Scroll the internet for the stories of a small start-up that has become self-sustaining.
Let your heart lead the way. America was built on a dream, and the dream is alive today.