One of the after-effects of the '2009-recession' was an increase in the number of people starting a small-scale business of their own. When people suddenly found themselves out of work in a hostile economic scenario, small self-owned businesses started mushrooming everywhere. The economy recovered slowly in 2010, but weak economic policies around the world have meant that we may see another slowdown in economy, also known as 'double-dip' recession. So, if you are someone who is equally anxious about your job, and want to do something about it, then we can tell you that starting a business of your own can be a good idea. Although, there are a lot of factors that go into making a strong business unit, determination and perseverance are some factors that determine whether you go bust or grace the covers of business magazines.
Labor-intensive Processes
The proportion of labor or capital required for the successful operation of a business determines whether the process is labor intensive or capital intensive. Since capital intensive processes have extensive initial capital requirements, they may not be suitable for small entrepreneurs. People who are interested in starting a business that involves generating employment, may benefit from the following business ideas:
Cleaning Service: A cleaning service is a good business proposition for a person who relishes the idea of cleaning apartments, homes and commercial establishments. Housekeeping is an art and people are typically deterred by the prospect of getting grease, tough stains and odors out of carpets, keeping their bathroom clean and eliminating odors from their refrigerator. Hence, a cleaning service can be a steady source of income assuming that there are no immediate competitors. Otherwise, one would have to spend money on advertising and this may eat into one's profits. Cleaning services can operate round the clock since residential apartments are generally cleaned during the day while commercial buildings are cleaned after office-hours. Considering that cleaning services earn popularity and goodwill through word of mouth, a job that is well done will rarely go unnoticed.
Moving Service: Inexpensive professional moving services are sought by people who are moving across town and are unable to contend with the heavy lifting that is a part and parcel of moving. This business has distinct possibilities with regard to expansion and one may very well end up becoming the proprietor of a countrywide moving service!
Solo Entrepreneurship
Solo entrepreneurship is meant for people who are not interested in employing others and would prefer going into business all by themselves. The Internet has also provided a platform for home-based business opportunities by encouraging affiliate marketing and opportunities for making money with traffic exchanges.
Consulting Business: Professionals like accountants and financial planners, who are aware of the ingredients of a good business, can make successful entrepreneurs since their services are always in demand. Financial planners and accountants need to be certified. They need extensive experience in their area of work in order to be successful and inspire confidence. A successful entrepreneur is one who strives to establish a company based on innovative ideas and proven solutions. Skilled professionals can also establish a marketing consulting firm or a software consulting business.
Internet Affiliate Marketing: Internet affiliate marketing can be a wonderful opportunity for a person who is interested in participating in an affiliate program. Affiliate programs are run by sponsors who are interested in increasing the market for their product. Leads for the sponsor can be generated by the affiliate assuming that the latter has a website that has a huge volume of traffic. Although both text links and graphic links can be used for the purpose of advertisement, the host's visibility improves if it uses text links rather than graphic links.
Making Money with Traffic Exchanges: Traffic exchange is an example of Internet home business. It works by diverting traffic to a subscriber's website provided the latter views advertisements and websites of other subscribers. A traffic exchange aids promotional advertising since one can promote as many as 10 websites in exchange for a subscription. One can easily make money using traffic exchanges even without actually owning one. For more on traffic exchange, one may refer to the article, 'making money with traffic exchanges'.
Hopefully, the above article would have provided valuable insight on the possibilities and opportunities that are available to skilled professionals as well as those with a knack for identifying and exploring money generating ventures.
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