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What’s The Best Business Idea For Beginner Entrepreneurs?

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If you want to become an entrepreneur, the next immediate question has to be, “What’s the best business idea for me to make money?” I have the answer.

For those looking for a quick solution so they can skip any hard work, sorry in advance. This insight is not going to be what you want to hear.

But you’re going to save a ton of time doing it my way instead of the wrong path you might be tempted to go down.

Endurance and patience is always involved, but only fruitful if you’re headed in the right direction.

Let me explain.

Where Beginner Entrepreneurs Go Wrong

Beginner entrepreneurs often go wrong by trying to hit a home run on their first at bat when they have zero entrepreneurial skills, zero connections, zero capital, etc.

That app idea you have? It’s most likely garbage.

The software company you know is going to make you billions? Probably won’t make you a penny.

The new social network that’s better than anything out there? You’re crazy if you think you’re going to beat billion dollar companies in the market today.

And that’s why these beginner entrepreneurs set themselves up to fail.

Biting off more than you can chew is a recipe for disaster (or throwing up your food, gross).

I’m all for having big dreams. I mean the name of this site is Take Your Success, encouraging you to go out in this world and make your dream a reality.

But I’ve found that beginner entrepreneurs who aim too big, too high, too early, come up short and are forever discouraged.

They put their bucket down an empty well and are surprised they come out with no water although they’ve put a year or two into the project.

Think about this.

Jeff Bezos didn’t start his entrepreneurial career by aiming to build the biggest online shopping store in the world. If he did, odds are he would have failed.

He started with books and used what he learned to dominate that industry to expand Amazon.com to what it is today.

Mark Zuckerberg didn’t open Facebook and market it to everyone from the start. That would have slowed the growth tremendously.

His social network only accepted Harvard students, then it slowly expanded to other college students, and then they opened up to every age and went global.

Elon Musk didn’t graduate college and aim to build a rocket company. If he did, my money is it would have flopped in his face.

Instead he built a digital maps program and used what he learned there to build up to PayPal, Tesla, and now SpaceX.

Whether you have similar ambitions as those entrepreneurial giants or just want to quit your job and do what you love, the best business idea to do that is below.

Best Business Idea To Get Started

Maybe this isn’t as profound as you hoped, but I firmly believe people new to the entrepreneurial space will be far more successful and encouraged if they simply copy other successful entrepreneurs who are making a full-time income from their work.

Not billionaires, just millionaires or the average Joe who is making around $100,000 or more a year, for example, in an entrepreneurial pursuit.

Look at individual entrepreneurs who are making things happen on the Internet. Start following their steps to success.

Read their blog. Watch their videos. Sign up for their email list. Listen to their podcast. Understand how they serve an audience through a service or product, and how they monetize it.

You’ll struggle if you try to mimic the CEO of ESPN or Nike.

Because they’re on an entirely different planet with almost unlimited resources compared to your very limited capabilities. And you don’t have decades of experience to rely on like they do.

You can find success vlogging, reviewing products, doing social media marketing for businesses, podcasting, blogging, running an ecommerce shop, doing email marketing, other ideas like that.

I want this article to be timeless so I’m hesitant to recommend specific ideas.

The point is to do some research, consume content, and be self-aware to know your personality and skillset to determine how you’re going to serve the market and get paid for it.

Your primary goal at this stage is to start making money to supplement your income so you can eventually become a full-time entrepreneur. This is key since you can only create so much magic if 40 hours a week you’re tied to a 9 to 5 job.

Although you don’t have to be all in for the money to be an entrepreneur, your work does need to generate income or it’s just a little, cute hobby you do every week.

You don’t want cute. You want the real deal and that means getting paid for your contributions.

And one last reminder—because many young entrepreneurs go wrong here—it’s going to be impossible to try to mimic 13 different entrepreneurs who all are pushing you in different directions.

You’ll end up dazed and confused with no direction.

Find one or two people who you vibe with, and then work hard to take the steps they did to succeed.

Once you have a solid income from your small entrepreneurial pursuit, then you can build off of that foundation to grow your empire.

Build Going Forward

Now once you’ve learned some foundational tips of entrepreneurship, then it’s time to start building from there.

Because by this point you’ll have built a steady stream of monthly income and earned yourself some breathing room to explore grander (and more profitable) projects. Plus, you’ll gain valuable experience to bring with you in this next venture that will increase your odds of success.

Though improving your craft as an entrepreneur at every stage is fun in my opinion, this is where the real enjoyment starts to happen.

For me, this meant going from blogger to cofounding a digital marketing company. The stakes immediately became 100 times more real.

But in the midst of difficulty lies opportunity. And so far, this video proves I’ve taken this opportunity to serve local businesses and I’m making the most of it.

If you want it bad enough, you can become a professional entrepreneur who is in it for the long haul.

How bad do you want this?

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5 Things Successful Freelancers Do At Networking Events

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As an independent contractor or self-employed freelancer, your level of success depends on your ability to create and sustain relationships. The number of clients you have, the stream of work you produce and the revenue you earn are all contingent on the scope of your business network.

The more dedicated and intentional you are about forming quality connections, the more professional growth, impact and advancement you’ll experience. “By growing your network, opportunities arise, business partners appear, connections are made and trust is garnered in the local community,” says Sharon Schweitzer, best-selling author and consultant.

And in the freelance and entrepreneur world, the service you’re promoting is ultimately yourself—which makes it even harder. If you’ve ever tried to write a personal bio, you know what I mean. Promoting yourself can be challenging, but successful business owners and freelancers know it’s necessary.

As you attend various networking events to grow your network of potential client and those who can support your efforts, keep these tips in mind.

Come Equipped with Business Cards

Every networking event is a chance to gain new clients. As such, you need to present the most professional version of yourself. That version doesn’t just dress well and act polite—that version of yourself always has business cards too. This gives everyone you meet something to remember you by, while showing that you take your work seriously.

Remember that the design of your cards should not only be polished, with readable text and all the right information. It should reflect your brand and personality as well. Check out these interesting business card ideas to find inspiration and a unique style that matches who you are and the work you do.

Pro tip: Find a way to make your business card actionable or helpful. For example, if you’re a personal trainer, you could include a workout on the back of your business card. Not only is this more memorable, but you’re already helping the person who you just met—and you haven’t even done anything yet.

Release Fear

For some people, attending a networking event is stressful. Not only do you have to talk to people you don’t know—but you have to show them that you’re successful and worth connecting with. This is where the fear of personal failure, which was the number one fear among 1,000 Americans polled, can slow you down.

Successful freelancers push this fear aside to present a confident, successful person. To release any personal fears holding you back, use these tips from The Muse:

  •   Choose “non-lame” events and stick with events you’re excited to attend
  •   Stop saying “networking,” which makes it feel intimidating
  •   Volunteer at the event instead of going as an attendee
  •   Research the roster ahead of time so you know who will be there
  •   Reward yourself afterward, I.E. “If I give away all my business cards, I’ll…”
  •   Have conversation starters prepared
  •   Approach people in pairs, which may feel less intimidating

Pro tip: Practice your power poses before going to a networking event to boost your confidence. Amy Cuddy, a social psychologist, suggests that standing in these power postures, and using similar body language, boosts your confidence, even when you don’t feel confident. Learn the different power poses in her Ted Talk.

Seek Contacts to Fulfill Specific Needs

One of the many advantages going to a networking event is that it attracts different people with varying degrees of experience, interest and expertise to one place. As a freelancer, this means there are chances to meet a wide variety of people who could help you, from developers for your website to potential business clients.

Successful freelancers define what they’re looking for before they step foot through the door. I.E. a mentor, client, partner, or even just a fellow creative to bounce ideas off. Keep these goals in mind as you build connections at the event and afterward. Global entrepreneur Ted Rollins suggests:

“As these relationships grow, consider how they fit into that burgeoning ‘why.’ Someone could be more valuable in expanding your business, while another person might serve you best in a mentorship role.”

Pro tip: Stay in touch with everyone, even if you don’t need their help right now. This is one of the best times to be in touch with someone because it gives you a chance to help them instead. When the time comes to reach out for a request, you’ve done the work to maintain that relationship over time.

Use the Skill of Active Listening

This interpersonal skill is highly regarded in professional settings because it shows other people that you want to form a reciprocal relationship instead of just a self-serving one. Mind Tools describes an active listener as someone who makes a “conscious effort to hear not only the words another person is saying but, more importantly, to understand the complete message being sent.”

To practice this at a networking event, approach people with an open stance, hold eye contact, remember to smile and use receptive body language—freshen up on receptive body language with this guide from Skills You Need.

Don’t forget to ask questions that start with “Who?” “What?” “How?” and “Why?” The more attentive you are toward someone, the more they’ll trust your motives.

Pro tip: Practice active listening in every area of your life—with your friends, your family and your spouse. Work toward being an active listener, even in the simplest of conversations, so it comes easier to you when it matters most, like when you’re meeting a potential investor or business partner.

Send a Follow-Up Message Promptly

Communication is critical to solidifying your new potential relationships and successful freelancers follow-up within 24 hours. When you do, express your gratitude for their assistance, offer any other relevant information that wasn’t shared in person, and reiterate what a pleasure it was to meet them.

Not only does prompt correspondence keep your name fresh in people’s minds, it establishes you as a genuine individual whom others feel secure doing business with. If the context is appropriate, you can even add personal touches like inquiring about a recent vacation they took or mentioning a common interest you share to express that you’re invested in them relationally.   

Feeling uninspired? Check out these follow-up email templates.

Pro tip: After following up via email, connect with anyone that stood out to you on LinkedIn. This is a second chance to remind them of who you are, and once connected, you can casually interact via “liking” posts and commenting. This ensures you stay top of mind and makes it even easier for them to reconnect with you at any point.

Step Into the Networking Arena

Learning how to network effectively is an asset you can take straight to the bank. Move outside your comfort zone, engage with other professionals, and use these pointers to maximize your efforts and form connections that will provide value for many years to come.

BIO: Jessica Thiefels has been writing for more than 10 years and is currently a full-time freelance writer and self-employed content marketing consultant. She’s been featured in Forbes and Business Insider and has written for Virgin, Glassdoor, Lifehack and more. Follow her on Twitter @Jlsander07 and connect LinkedIn.

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Entrepreneurship

2 Reasons Why Your Business Marketing Sucks

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How can your company explosively grow when your business sucks at marketing?

Referrals and word of mouth are great, but they can only go so far—and they’re usually slow coming if we’re being honest.

Sooner or later you know you’ll need to go on the offensive to market and advertise your brand instead of waiting and praying.

If you don’t, good luck winning market share, opening a new location, or building a bigger team. Your business growth simply taps out without marketing—it has no other choice.

Compare that to the business that has the advantage of turning on their marketing like a faucet where they can always get more customers anytime they want.

The ability to bring in new customers seemingly at will is not only a perk in itself, it also allows the business flexibility to raise prices, try different promotions, and get customer feedback to improve.

What’s the company I just described understand while the other one is going to struggle? It’s simple, one is not making the two mistakes that will kill your marketing and the other is.

Two Marketing Killers

It’s not that you’re just going to be average if you make the two marketing mistakes below.

Your company is going to fail from a marketing perspective and suffer the consequences down the road—one of them possibly being bankruptcy.

1) No money investment

First and foremost, your business has to put your money where your mouth is and pay to market or advertise your services. It costs money to get in front of new faces, but chalk that up as the cost of being in business.

Your business should be spending:

  • At the very least 3% of your company’s annual revenue on marketing
  • 7% to 10% of your company’s annual revenue on marketing
  • Ideally more than 10% to grow at a faster rate

Of course the final totals will be different for every industry—a software company should spend more of their annual budget on advertising than a restaurant should—but these are solid general guidelines.

What should you spend money on to bring in more customers? A well-designed website for one. Then Google pay-per-click ads or Facebook ads are the best bet for almost every business. Depending on the industry it may also make sense to invest in video projects, television ads, or radio ads.

And this doesn’t mean there aren’t free ways to build an audience.

Optimizing your website for keywords and SEO and adding email capture forms to your website can both return thousands of dollars of profits in a short time (among other free marketing ideas).

Once you commit to financially investing in your marketing and advertising, you’re not done yet.

2) No time investment

Not investing any strategic time into your marketing is the second killer mistake.

Because your business can toss as much money at a problem as you like. But if these funds are not strategically allocated in the right direction, then it will not deliver on expectations.

Your team or you may walk away at the end of the campaign and think, “Aha! I knew marketing and advertising doesn’t work!”, when really you didn’t execute to get the best ROI.

These are a few examples of what it means for a business owner to invest time into your company’s marketing:

  • Schedule a weekly meeting solely devoted to marketing
  • Delegate an individual or team to fix your current marketing weaknesses
  • Ask for a monthly report listing every marketing channel, dollars allocated to it, and the individual platform’s performance
  • Scope out your competition to “steal” their good ideas
  • Research successful advertising campaigns by innovative companies in other fields

What does no money and no time get you? No results, no business growth, and maybe you’re forced to close down shop if an Amazon-type company comes after you.

I want you to win, and win in style. The way you’re going to do that is by spending the money and time it takes to find marketing channels that produce real business results.

You can totally do this!

Related: 3 Top Selling Points For Social Media Marketing

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Entrepreneurship

How To Go From Wantrepreneur To Entrepreneur: 5 Step Process

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Maybe your view after Step 5 in this process?

Want to go from wantrepreneur to entrepreneur? You’ve got your work cut out for you. But it is by all means doable, and can happen quicker than you imagine.

First we have to single out the wantrepreneur fanboys who spend all their free time idolizing others but not putting in any work in to build something for themselves.

Let me ask you. Do any of these descriptions represent you?

  • You’ve seen almost every episode of Shark Tank
  • You’ve read hundreds of blog posts on entrepreneur.com
  • You’ve watched 25 Tony Robbins motivational YouTube videos
  • You’ve been listening to entrepreneur podcasts daily on your work commutes
  • You’ve consumed more TED Talks than you can give an accurate estimate
  • You’ve gone to 4 conferences for entrepreneurs in the last year

If any single one of these depicts you, you’re a hardcore wantrepreneur who is watching life go by from the sidelines.

And many of you not only consume every piece of content from your favorite entrepreneurs, but you have the audacity to criticize other entrepreneurs in the arena when you’re a bystander.

That’s just plain wrong! Read this for me.

It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat. – Theodore Roosevelt

The point is, fulfillment comes from doing—even if you do fail, you’re better off. You won’t be satisfied spending all your time preparing or consuming knowledge like a machine but ending up with zero output.

Stop doing that. And start following the 5 steps below. If you stick to it, I guarantee you’ll be a successful entrepreneur with results to show for your labor.

5 Step Process To Entrepreneurship

1. Pick what you’re going to do.

You could say that this selection process is the most important step. Or I could argue that it’s not that important since your business and you as an entrepreneur are going to evolve a million times over the next few years.

For example, I’ve personally developed and changed titles multiple titles in just two and a half years. I started out as a blogger, then became an author, then a YouTuber, and now I own a digital marketing company.

The beauty of it is that I’ve taken lessons from each role and used them to excel in the next. And I’m sure I’ll have many new titles and responsibilities down the road as well.

Let’s go back to talking about you now.

Maybe you have some business idea in mind? If it’s work you’re truly passionate about, have the skills to be good at it, and would enjoy spending 80 hours a week doing, that’s probably your thing.

Don’t lose sight of the main qualifier, can you make money doing it? If you’re passionate and good at describing the shapes of clouds, no one is going to pay you for your ridiculous skill. 

You’ll win when you find something that will make you money on top of your passion. That’s an  unbeatable combination.

And if you have a lot of different passions, pick your favorite one right now and save the others for later. They’ll still be waiting for you if you decide to pick them up in the future.

The point is you’ll never know what’s right for you unless you experiment now by getting started. If you hate working on this type of business, then you’ll know really soon and can move on to something else.

But ideally you pick an industry you’re going to be in for the long haul since the less you start over the quicker you build momentum and profit.

2. Pursue it as a side hustle after work.

You’ve determined your entrepreneurial path, now all that’s left is the hard work.

Push it to the limit by squeezing all the extra time before work, during your lunch break, and after your day job and dinner to grow your business to the next level.

And if you work the third shift or late at night, work on your business before work. Hustle is the key to success in this industry.

Assuming you picked the right side hustle, this work is going to be fun amidst the challenge of growing a business from nothing to a success.

Your goal in this step is to confirm that people are willing to buy your services.

How do you do that? Start interviewing potential prospects as well as digging yourself to see if other people in your space are making money.

You’ll find key insights from these interviews that you’d find nowhere online. And you’ll see holes in your business plan that you can quickly fix.

The only warning is that you don’t spend too much time researching—that’s what wantrepreneurs excel at. It’s best to attempt selling and pick up data there than behind a computer reading article after article.

Plus, you can do all the customer interviews and market research possible. But you’ll never know if you’re onto something until you experiment to put yourself out there consistently and see if people are willing to pay for your product or services.

You get out the effort you put into your business, so hustle even when there’s no immediate return and you’re tired after a long work day at your day job.

Your future self will thank you for the effort.

3. Make enough money from your business to live on.

It’s not a good mindset to be an entrepreneur just for the money. Though the reality is that you do need to make money to support yourself and maybe a family.

If you can’t produce income it’s a red flag you’re just not that good, or selling an offering people don’t want or need.

Money represents value and oxygen for a business. A business without a steady stream of sales isn’t going to be in business for long.

So, how are you going to make some bank for your company?

Consider how you’re going to ramp up your marketing efforts. Are there free, organic options to meet new customers? Is paying for Google or Facebook ads the best option? Those are business decisions for you to decide.

Are you going to interview potential customers and see if it’s something they’d pay for before you create the service? Maybe you build a list of 50 people who pay you in advance before you do any work and confirm your service has some legs to it.

Quick business tip: Friendly people will say they’d buy it, but when you ask them for their money then they tightly hold onto their wallets. But only truly interested customers will dish out their money right away.

At this stage, your ultimate goal needs to be to make enough money to replace your job income so you can become a full-time entrepreneur.

P.S. If you’ve tried everything and still can’t make money, then odds are you need to watch this and go back to Step 1. Determine what you’re going to do—so you can find a better business idea people will actually pay you to do.

4. Leave your job to work on your business full time.

This is what separates the men and women hustlers from the boys and girls: leaving your job to work on your business full time. That’s what makes a true entrepreneur in my opinion.

Because how can your business thrive if the top man is sidetracked spending 45 hours a week at another gig?

Just imagine how much more could be done for your business if you were to invest 45 hours a week of your own time. That’s 2,340 extra hours a year to grow your business!

Now, is it easy to say goodbye to a fair company, nice co-workers, and a comfortable salaried job? No.

Is it worth it to fulfill your potential and give everything you’ve got to grow your business? I say, heck yes!

That’s what dreams are made of for pure entrepreneurs who love the hustle.

Plus, if you hate your job then this step is the easiest on this list, “See ya suckers, I’m on to better things. Oh yeah, I won’t be needing any referrals for a new job because I’m my own boss now.”

Be warned: The first week or two working 100% for yourself will feel strange. You’ll have unlimited freedom and your willpower will be tested to get the best performance out of yourself.

This takes an adjusting period. However, soon you and your business will be off to the races!

5. Scale your business to as big as you want it.

Since you’re making as much money as you need to on your business now, technically the process is complete once you leave your job.

Congrats, you’re officially an entrepreneur!

However, entrepreneurs are some of the most ambitious people I know. And many of them wouldn’t find it acceptable to just replace their full-time job income with their business income.

They want something more, bigger, and better. The only next logical step is to scale your business so that it doubles in impact. Maybe it triples it and eventually becomes 10 times greater (if that’s your goal).

Maybe you’re a lifestyle entrepreneur who says the whole reason I left my corporate job was to work less and have fun more time to enjoy myself or hang out with my family. To you, I say that’s an even better reason to grow your business since it will give you the cash to hire a virtual assistant, personal assistant, or team to get more done while you work less.

Once you scale the business to your desired growth, you have plenty of positive options down the road too.

For example, you could keep the business steady and take on no new clients, commit to growing the business past your comfort zone, or sell the business to do something (or nothing) else for the rest of your life.

Only in entrepreneurship do you have these kinds of career options so you may as well take advantage of them to maximize your happiness and freedom, right?

Scaling your business is the cherry on top during the process of hustling from wantrepreneur to entrepreneur.

Final Words

There is no perfect time to make the leap and quit your 9 to 5 job. No prophet is going to run into you on the street giving you the nod to do it. And no dream will give you the courage to enter the unknown and leave your comfort zone.

That’s all ridiculous. This isn’t the movies, it’s the real world.

You need to take control of your future by making the tough choice to pursue what you love doing.

There will be some bumps and bruises along the way, of course. You’ll often struggle in the beginning to create a service or product people are willing to pay for, market it, and keep clients happy.

But the secret is that the process is actually all of the fun. The reward is making progress and getting better—not retiring on a beach saying, “I’ve made it.” (Those lazy days in the sand will get boring quick, trust me.)

So go do your thing to go from wantrepreneur to official entrepreneur.

Take care of your business until your business one day takes care of you, your family, and freedom you desire for the rest of your life.

I’ll be practicing what I preach right alongside you.

Since no one is going to hand it to you—go take your success!

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