Do you want to start your own one-person business? If so, the 2020s are an excellent time to do so. Not only are many corporations cutting back on massive hiring, but the digital age is making it much simpler for individuals to run their own companies from the comfort of home. What are the best ideas for eager entrepreneurs willing to work hard, invest their time, and don’t mind waiting from two months to a year before turning a profit?
Fortunately, there are numerous options for prospective owners who have the right mix of diligence, patience, and perseverance. Those who have a knack for the securities markets can try their hand at day trading or running trading affiliate programs. Opportunities also exist for anyone interested in e-commerce resales, monetizing niche blogs, credit counseling, advertising services for small businesses, and specialty resume writing.
It takes just a few hours to get set up as a day trader, but you should spend several weeks assessing your skills and researching the specific stocks on which you will focus. Most people who pursue this niche use a demo account on their broker’s platform to learn the art and science of rapid order placement. The key to success in this popular area is to begin slowly, make small trades, and reassess results at least once per week. Specializing in just one or two companies’ shares will make it much easier to learn unique price patterns and take advantage of small, daily movements.
Programs for Trading Affiliates
When you sign on as a trading affiliate with a reputable broker, you don’t operate as a seller or buyer of securities. Instead, your sole responsibility is to direct new clients to the brokerage firm. For that, you receive a commission payout. If you decide to register with the AvaPartner program for the AvaTrade brokerage, you get the chance to earn generous commission checks and have the support of a designated account manager who supplies you with promotional materials. Additionally, you can select from multiple kinds of compensation along with commission payments.
The e-commerce sector is a massive new arena within the consumer sales segment. To succeed, you need to do two things. First, spend enough time choosing a product or service that you understand and are excited about. Second, focus on building a well-crafted website from which you can sell to targeted demographic groups. Don’t ignore the service sector. Professionals like doctors, tutors, psychologists, consumer counselors, engineers, and others have been transitioning to online business models in just the past few years. That’s good news for e-commerce specialists who have a talent for selling services and merchandise.
Don’t feel the need to become a large-scale independent retailer. Earning a good income as a reseller is about being specific. Select a niche market and dive into building a mailing list of potential customers. Give yourself at least six months to develop an internet presence and an extensive network. From there, hard work and being responsive to client inquiries will help you advance into profitability.
Product Review Blogs
Instead of selling services and goods, numerous entrepreneurs build an excellent product review website and earn advertising income. Monetizing a blog or niche website is one of the most time-tested, reliable ways of making a living as a one-person business owner. What are the most attractive product areas right now? It depends on your skills and interests. People do well in this kind of enterprise when they review consumer products they know are interested in and already know about. Do a bit of soul searching to discover what you’re best suited to review. If you’re a techie, consider digital products. Art enthusiasts might want to explore the home decor field. As a reviewer, this initial step is the most significant component of your long-term profitability.
Mid-Career Resume Writing
One of the fastest growing areas for resume writers is for mid-career job changers. These clients are typically well compensated professionals who wish to enter another field. Why do they make profitable clients? They are willing to pay much more for a well-crafted resume because they need specific guidance, customized cover letters, and follow-up documents like thank you notes. As an entrepreneur, you can either outsource the writing task or do it yourself. If you choose the latter, expect to take an online course to develop the necessary skills for about three months. It’s also wise to test for one of the top credentials in the resume writing niche, which can take another month or two.