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– There’s never been a better time to start a business when it comes to accessibility and overhead.
– Intuit predicted the US could see up to 17 million new small businesses in the next year.
– Insider talked to founders and experts to compile a list of the easiest online businesses to start.
If you have been laid off from your job , experienced burnout from the corporate world, or wanted to be your own boss, chances are you’ve probably considered starting your own business in the past two years.
A record number of Americans have launched new businesses since the start of the pandemic , many of whom are forming a movement of digital solopreneurs.The reviews website Digital.com surveyed 1,250 people who quit their jobs within the past six months and found that nearly one-third of them said they did so to start their own businesses.
This trend could last through 2022, as the software company Intuit predicted we could see up to 17 million new small businesses in the next year.
It’s not just the Great Resignation that’s luring people toward entrepreneurialism.In terms of access and overhead costs, there’s never been a better time to start a business .The cost of entry can be as low as the expense of internet service and building a website.
Insider talked to founders and experts to compile a list of the easiest online businesses to start based on the following criteria:
– Low overhead cost — Starting a business in any one of these categories requires a small financial investment, such as paying for a domain name and website hosting or acquiring a small amount of inventory.
– Accessibility — There’s little to no red tape to establish your business.
Instead, you just need to download an app, have internet access, or sign up for a monthly membership that won’t cost much more than streaming Netflix.
– Remote work — All essential functions of the business can be done remotely and do not require a retail store or office to be efficient.
– Minimal expertise required — While educational resources are widely available and encouraged, these categories require no additional degrees or certifications to get started.
Here are 11 digital businesses that are easy to start in 2022.
1.Coaching
One way to use your previous expertise in a topic is to start a coaching business.
Whether you focus on nutrition, vocals, fitness, or careers, there are people who need help developing their skills.Business coaching alone was a $15 billion industry in 2019, according to the International Coaching Federation.
“Everybody needs a coach,” Angela Lee, a professor of professional practice at Columbia University, said, adding that it had become a more accessible business in the past five years.
“In the last five years, people recognized that everybody needs help, and all of these different types of online coaching companies have made coaching so much more accessible,” Lee said.
To start a coaching business, you’ll need to create a website and social-media accounts to market your services to a targeted audience.Most forms of coaching do not require certifications, though training can boost your business’ credibility.
2.
Consultant
You don’t have to work for one of the largest consulting firms in the US to have a successful career in the industry.There is a growing need for consulting services run by independent companies, including in marketing and social media , Lee said.
Service-based businesses are accessible because they mainly run on human capital, which means you are your own best asset, Lee said.
Similar to coaching, a consulting firm starts with a website and building up your social-media presence.
3.Creator-economy services
Influencer marketing is thriving and estimated to be worth $13.8 billion .Now, companies are catering to creators to get a piece of the lucrative market.
For example, the founders of Dava Marketing found a niche in producing and editing videos for YouTubers.
Similarly, Lee suggested that entrepreneurs get specific with their services, whether they make fantastic thumbnail graphics or have a knack for sound design.She also suggested you find ways to help influencers monetize their followings, like creating their own product lines.
“There are companies that all they do is help beauty gurus build their own makeup line or food bloggers create their own baking line ,” she said.
“People who are successful are those who are very specific in what they help you to do.”
4.E-commerce
With so many more people shopping online, e-commerce is booming .Platforms like Shopify, Etsy, and Big Commerce enable to you to create an online store and sell anything, from home goods and clothing to art and skin-care products.
However, starting your own brand requires a great deal of inventory, logistical knowledge, and marketing.
“There’s a lot of cash physically sitting in your warehouse because you’re holding all that product,” Lee said.But drop-shipping offers new entrepreneurs the ability to ease into a retail business.
Since drop-shipping sends products directly from the manufacturer to the customer, a business owner doesn’t need to purchase inventory to get started.
Lee suggested using this route if you didn’t truly understand the retail space yet.Drop-shipping has its complications , and scaling can be difficult , so research the right partners for your needs and consider using it as a stepping-stone, rather than a permanent solution.
5.Live shopping
As more people shop online, they want to be entertained and engaged before clicking “add to cart.” Live shopping , or the medium of hosting a livestream show to sell products, is set to become a $25 billion market in the US by 2023, according to the retail- and technology-research firm Coresight Research .
Nicole Leinbach Reyhle, the founder and publisher of the retail publication Retail Minded, said this trend, which she calls “shoppertainment,” could provide more opportunities for retailers and new entrepreneurs alike.
“Businesses leveraging this video-sales strategy are connecting with their audience.They’re putting themselves out there,” she said.
“We’ve seen retailers boost their selling by using these applications.”
There are several apps such as Popshop Live and Whatnot on which you can create your store and begin hosting shows .Most livestreamers use their phones to record and have minimal equipment, like a ring light and tripod.
6.Resale
Whether you’re selling dresses from thrift shops or antique chairs, the resale industry is rapidly growing.The secondhand market is worth $36 billion and expected to reach $77 billion by 2025, according to a ThredUp report .
There are several marketplaces that provide the framework to get started, such as Poshmark, Depop, or Chairish.
Once you set up your account, you’ll need to acquire inventory, research market pricing, and begin listing.While it doesn’t cost much up front, resale can be time-consuming when you’re taking photos, listing products, answering buyer questions, and dropping off packages.
“You have to really think about what was the original cost,” Lee said.”So long as people go into it recognizing the revenue and then the cost in their time, it’s a great way to get started.”
7.Talent advisor
If you’ve worked in human resources for another company before, you might find it easy to transition your skills into your own business.
As many companies struggle to hire through worker shortages , you can help with linking them to promising candidates and their improving turnover rates.
Lee said entrepreneurs interested in starting their own talent or HR business should narrow in on what they were helping companies do, such as hiring faster, reducing turnover, or decreasing recruiting costs.
“There are a lot of different ways to be successful in that space, and being really clear about which metric you’re impacting will make you more successful,” she said.
8.Tutoring or teaching
Online education is another way to turn your expertise into a business, and you don’t need to create your own technology to do it.
Companies like Teachable give people all the tools they need to create and sell their own online courses , so you can focus on the material and not the mode of delivering it.
“It allows people who are less technical to leverage preexisting technology to put their expertise out into the world,” Lee said.
9.Virtual assistant
To save time and energy, many companies hire out administrative tasks like booking travel and scheduling meetings to virtual assistants .If you are especially skilled in spreadsheets, planning, and organization, setting up your business requires just a website to get started and some networking basics to connect with prospective clients.
“Everyone I know needs a virtual assistant, and everyone I know has a really hard time finding one,” Lee said.
Her advice is to have a thorough intake form on your website to field the right clients for your expertise and set clear expectations.
10.Web programming and design
While web development jobs seem plentiful in Silicon Valley, there are many opportunities to start your own business in programming or design outside of the Bay Area.Today, nearly every company needs a polished website to stand out and make a professional first impression.
Freelance hiring site Upwork reported a 43% increase in web programming jobs and a 31% increase in web design gigs in 2021, making them two of the most in-demand skills on its platform.
Typically, web designers and programmers get at least an associate’s degree in their field, however, there are several online courses and certifications available for anyone to learn coding for free or as little as $10.
11.Customer service
Customer service is an essential part of any sales-based business and it’s a skill in high demand, according to freelance hiring site Upwork .Some companies prefer to outsource these jobs to a third party or freelancer.
If you’ve worked in retail or sales and have good people skills, you can apply that experience to a customer support business.Platforms like Zendesk and HelpScout have plans starting at $20 that give you direct contact with customers to make sales, answer questions, and help with orders.
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