6+6 Drivers for Entrepreneurship
The very heart of capitalism is the small
business owner. The
vision and dream of
owning a business is what has made America great. Although the challenges
are many, the rewards of business ownership are even more. And that is why,
each year, millions of Americans start up new companies. Let’s examine a few
of the top business opportunities that require small up-front capital and at
the same time offer the possibility of steady income.
The birth and growth of the
internet age has
transformed the freelance writing industry. Until recently, freelance
writing was mostly relegated to novelists, reporters and marketers, but
today opportunities are much more widespread due to the countless number of
websites that exist. The growth potential in this industry is staggering.
Demand for freelance writing will grow concurrently with the internet, and
we are truly still in the beginning years of the internet age.
If a person is really good at a particular
skill, that skill can be turned into money. The key to success in this
business opportunity is being able to truly
add value to a customer;
thus, content area expertise is essential. This broad area can include
athletic coaching such as personal fitness training or sport-specific
training, but it can also include professional consultation services such as
interior design, business plan development,
coaching, web marketing, or
coaching. If one possesses true
excellence in any skill or skill set, then that expertise can be monetized
through providing a service of coaching or consultation.
E-commerce has changed the way the world does
business. eBay has made it possible for thousands of people to earn a living
as eBay store owners. Although some initial capital is needed in order to
purchase inventory, a person can start small. Local garage sales can even be
a starting point for aspiring eBay resellers. Then,
as business grows, one can
any market one may wish. The possibilities are great. Some resellers even
import goods from overseas markets such as China and then resell them in the
Prior to the internet boom, financial markets
were traded by traders who called in orders over the phone to their brokers.
Those days are long gone. Today, traders execute buy and sell order for
stocks, commodities and currencies online without ever speaking to a broker.
And this can be done from any computer with internet connection. The
start-up costs to become an online trader are relatively small, but the
learning curve can be extremely difficult and arduous. Trading financial
markets should be viewed as a profession similar to that of an engineer,
architect, or medical professional. There will be a time of intense study
and learning that may span years before substantial income is earned.
However, the earning potential as an online trader is unlimited. The only
limit in forex exchange trading is the trader.
The explosion of home-based businesses and
contract workers over the last 10 years has caused a similar significant
increase in the demand for personal assistants. As professionals leave the
corporate workspace, many still have a desire for administrative assistants.
A personal assistant business can be setup with virtually no overhead.
Although many virtual assistant jobs have been outsourced to India, many
professionals do still want the closeness and accessibility of a local
assistant. The potential in this industry is great. As one’s experience and
expertise grows, one could begin to take on multiple clients and even
sub-contract some work out, which would in turn begin to produce passive
Internet Revenue Models
Similar to an eBay store, yet quite different.
If one has an intense passion for a specific product or niche market, an
online store may be one way to monetize that passion. An online store has
many benefits versus a physical store. The overhead is much, much less, and
the potential is just as powerful, if not more so. A physical location has a
very limited market potential, while an online store can reach around the
world. Of course, both can be a wonderful combination, but starting as an
online store and then moving to a physical location upon strong growth can
help build a solid foundation. There are also many online franchise
opportunities available for those who want to be in business but do not have
a specific market in mind.
This is yet another business opportunity that
has really exploded as a result of the internet boom.
involves the selling and marketing of a good or service for another company.
The risk is much lower than starting a company since there is no inventory
or actual company to start. This can be difficult at first. One of the major
keys to success as an affiliate marketer is connect with a truly honest,
forthright, reputable company.
The idea of earning passive income from vending
machines has been around for decades, but it is a tried and tested way of
making money. The truth is that 1 vending machine will most likely not make
a living. The key to success is to own several vending machines, and this
could take several months or years depending on initial start-up capital.
Although this income stream is quite passive due to the limited amount of
“work” that needs to be done, the initial capital needed is higher, which
means there is more risk involved.
The health industry is expected to grow
exponentially over the next 20 years. With the Baby-Boomer generation
retiring, the demand for in-home patient care is also expected to increase
significantly. If one finds purpose in one-on-one relationships and serving,
this business opportunity could be both very fulfilling and a viable income
This is another home-based business venture
that has gained traction in recent years. Initial start-up generally
requires some basic educational courses, but usually those requirements can
be achieved in 6 months to 1 year. Also, most educational programs also help
introduce students to potential clients and help in the initial stages of
setting up the business.