Why should owning a business be considered a tough man’s play? Choosing the right field and carefully analyzing the market before kickstarting a business could certainly help one become a successful entrepreneur without a hitch.
Small businesses often provide the starting point for big things. Every big business had its humble beginning years ago. However, with so many choices and options around, a budding entrepreneur should know which one to grab and which not to. Embarking on the wrong vehicle could cost a fortune, especially when it comes to money matters.
On the other hand, choosing the right one could be highly rewarding. Therefore, before narrowing it down to the best, it is prudent to educate oneself about the best ideas that could be a sure-shot success. Trying something completely path-breaking would be less competitive but risky. Alternatively, going for a small business that has been in demand for some time would be more competitive but credible. To ease this struggle, we have put our two cents here and collated the 10 smart business ideas for beginners that would work out in 2023.
Top 10 Small Businesses to Start in 2023
1. Dropshipping:
One thing is having a cake and eating it too, but how about eating cake that isn’t there at all? That’s exactly what drop shipping is all about. It is when a small business sells the products without actually having them. Drop shipping is an order fulfillment method wherein one does not have to hold the products physically. Drop shipping involves having an active online store and building potential contacts with suppliers who can pack and ship orders to customers. This is simply selling another business’ products and earning a small cut-off for oneself.
Drop shipping Apps like Automizely can help to start with. There are also drop shipping courses in Shopify that could help beginners. This is one of the small businesses that help beginners to earn well provided they have the right resources at hand.
2. Translation Services:
Across the world, words traverse, but only if translators take the wheel! Translation services have become indispensable in this era. Individuals endowed with multilingual talents now have a lucrative opportunity at their doorstep. Platforms such as Upwork and FlexJobs can assist beginners. The more projects one undertakes through these platforms, the more opportunities arise. Translators can also promote their profiles on other social media platforms like Instagram.
3. Website Flipping:
Just like any physical property, a website is one of the biggest assets one can possess these days. Website flipping is simply the act of buying a not-so-great but good website, redoing its design and content, and then selling it anew. Platforms like Shopify’s marketplace, Exchange, etc., offer opportunities for purchasing and selling eCommerce websites by improving their look and feel.
Beginners should aim to polish the content and tweak the SEO strategies of the websites they intend to resell. Once the website generates adequate traffic and starts seeing some tangible profits, it can be listed on the marketplace for sale.
4. Home-Based Food Delivery:
If someone has great hands at cooking, then a home-based catering service is the career their soul yearns for. It is one of the most economical businesses investment-wise, yet it has the potential to generate handsome revenue. The investment also depends on how small or huge the business is, ranging from a modest arrangement for delivering food within a community to a substantial investment for providing services for large-scale events like weddings, which would require a sizable kitchen set-up.
Self-made chefs usually have an active website that enlists the services or dishes they provide or join the appropriate platforms where they can monetize their unmatchable talent.
5. Virtual Assistant:
The post-COVID era saw a lot of opportunities that enabled people to secure full-fledged jobs from the comfort of their homes. Virtual assistant jobs are one such opportunity. From large established businesses like petrol pump businesses to solopreneurs, every small business requires help in managing its daily activities. An individual with excellent organizational skills can be the right person to function as a virtual assistant.
Skills expected from a virtual assistant include scheduling meetings, answering calls and emails, and overseeing administrative activities. Platforms like FreeUp, PeoplePerHour, and Virtual Assistant Jobs offer such job opportunities.
6. Online Tutoring:
A teacher’s knowledge is so powerful that it can ignite an ignorant mind even when miles apart. Thanks to online tutoring services! Several scholars who are proficient in subjects like science, math, art, or any other subject can start online tutoring. Websites like Skooli and Tutor.com provide clients for such professionals who act as subject matter experts. The lectures can be delivered through Zoom, Skype, or Google Videos, making online tutoring an easy job to earn a handful.
7. Content Writing:
Publishing content about products or services is essential for any business to thrive. Content writers are therefore indispensable in today’s world of small businesses. Those who effortlessly pen their thoughts are the right fit for this job. Content writers primarily develop content for various blogs and websites. Individuals with a flair for writing can secure a steady flow of work from various platforms such as Upwork, Remote.co, Problogger, and BloggingPro.
Writers can also become part of content writing groups on social platforms like Facebook to gain insights into the market. By offering services such as keyword optimization, SEO (Search Engine Optimization), or adding custom graphics, content writers can expand their services, thereby attracting more clients.
8. SEO (Search Engine Optimization):
The success of a business hinges on its visibility in search engines. If a business name appears on the first page of Google, it is likely to attract a substantial number of clients; otherwise, the chances are almost non-existent. For this reason, businesses seek out individuals who are adept in the SEO process. This job is suitable for anyone skilled at generating backlinks and improving the visibility of a website in search engines like Google.
It is essential to build a robust portfolio showcasing success stories in SEO to capture the attention of prospective clients. The individual can work for clients across various genres or focus on a particular niche, such as the legal, financial, or healthcare sectors.
9. Career Coaching:
In the corporate world, there is a compulsion to constantly improve oneself. Merely getting trained professionally would no longer do justice to a professional. What one needs is a career coach who trains individuals and teams in all spheres, thereby facilitating them to actively move ahead in their careers.
Someone who has had a very prosperous career can coach others in the same field and guide them on how to nail an interview or clear certification in the said field. Portals such as Coach.me help such individuals to gain clients. Merely spending 4-5 hours per month could fetch a career coach a great sum. Further, a career coach can coach multiple clients in a single session, or they could also conduct one-to-one sessions at a higher rate.
10. Website Testing:
How many times have we grumbled over an untimely error a website throws or sulk when a web page goes unresponsive? Now, we can still do all this and also get paid for it! Several brands have now begun hiring people to provide feedback on their websites. Based on the feedback, they address the reported issues and fix them. This process is known as website testing.
As a website tester, one essentially tests and assesses the functionalities of a website. The tester acts like a normal user and provides feedback on the working and usability of the website. Projects related to website testing can be secured through various platforms like User Testing, Ferpection, TryMyUI, etc.
FAQs
What are the most successful small business ideas?
Some successful small business ideas encompass services like accounting and bookkeeping, business planning, tutoring, and engaging in online ventures such as dropshipping, print-on-demand, and selling digital products. Additionally, selling handcrafted or homemade goods is another popular avenue for small businesses.
Which business can start under 10000?
One can start several business ideas with a budget of under 10,000 rupees. Some low-investment business ideas include initiating a dropshipping business, engaging in print-on-demand, creating online courses, and offering virtual assistance or freelance writing.
Which business is best in 1 lakh?
Consider various business opportunities with a budget of 1 lakh rupees. Some business ideas that can be started with 1 lakh rupees include opening a small retail store, starting a food delivery service, launching an online fashion boutique, or investing in a franchise business.