It’s an interesting question to me actually. It may seem that today with all the large corporations merging and taking over the markets they’re in, is there still room for the average person to have their own business? From my vantage point the answer is YES! And it’s even easier today, than it has ever been.
INTERNET BASED BUSINESS
I am old enough to remember the days before the internet. I know that was a long time ago right? When it began there were no business opportunities for the average American. It was all about the browsers, chat rooms and email back then. Netscape, AOL and others were trying to dominate it first. The start of being able to buy something online was in its infancy because no one knew how to take payments yet. Amazon was a baby still!
Today we can have our own online business that allows you to sell just about anything to anyone in the world. The “E-Commerce” term is not heard much any more because we are all used to shopping online and having the items show up the next day. Thanks to Amazon, we all have the expectations of see it now, get it now. So how can you take advantage of this?
You can have your own EBAY store or be an Amazon reseller. You can have an Etsy shop or just about any online business website you can dream of!
You can earn money by promoting others people products and websites through affiliate marketing too. The earning potential is pretty much limitless.
BRICK AND MORTAR BUSINESS
Is it still viable to have a successful brick and mortar store? I think the answer is a definite yes. There will still be the desire to have an experience and you can only get that when you visit a store and walk the aisles. Check out what Target and Walmart are doing lately. The motif has been changed to be more inviting. They have added back some old staples like music and lighting to make you want to stay longer. In some stores like Sprouts and others they have a lounge you can sit and enjoy eating your purchases all along with the obligatory free WI-FI. And even the world’s largest online retailer Amazon bought Whole Foods to have a physical store presence.
Some businesses will never be online 100%. You may want to consider starting a restaurant or other entertainment type business. The only concerns with conventional businesses is they are generally capital intensive and risky. If you have an online business you just don’t have the overhead, so you can start for a low investment and you don’t need to mortgage the house! Low investment equals lower risk!
HOME BASED BUSINESS
This one is a bit of a hybrid because most home based businesses are really run out of your home, but still may have a significant online presence. There are some that are home based, in that you are producing a product that is sold online and/or at regional shows or events. The lines are getting blurred. What about promoting your business online or using social media? Does that make it an online business? What if you accept order online and fulfil out of your home? Well you get the point.
MULTIPLE INCOME STREAMS
One interesting trend is being able to have more than one stream of income. There is a trend where many companies are not hiring workers permanently any more. They are using contractors. This allows them to have the human resources on a per project or task basis. It may be more cost effective and they can be released easier and faster when the project is done. I know people who are more “freelance” in their work and are getting work from more than one source. Sounds a lot like having your own business. Tax benefits and all.
For many people there is the desire to start and own their own business in addition to working a job. This is for many reasons, including having extra income to live but also to have the extra things in life or set up a retirement income stream too.
Today it is even easier to have the American Dream of having your own business! You don’t have to quit your job to do it. You don’t need a second mortgage and you don’t need to risk everything. You can start small and build large. Earn while you learn. If you have ever watched the popular TV show Shark Tank then you know all it takes is one idea to hit it big.
If it has always been your dream then don’t wait! It is easy to start today. It won’t fall into your lap so just get started moving forward.
Discover a Simple Business that Pays a Full Time Income from HomeThanks for reading!
Mark Balderrama
