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5 Business Ideas for New Entrepreneurs

While you don’t necessarily need to have a degree in order to be a successful businessman, you do have to have skills in order to make a profit. Take it from the young businessmen of today: they are competitive and creative, with the edge of being a lot more flexible than most of their older counterparts who may prefer to do things the same way they’ve always done it. They also find time to listen to other successful entrepreneurs by joining seminars which can help them in managing themselves and their finances better.

Solar panel installation business

But though these younger individuals might be more driven, they usually have a hard time finding the right kind of investor to put money into their business ideas, which often leads them to try their hand in smaller-scale business projects instead.

If you’re a new entrepreneur looking to try out new business ideas, here are a few that might work for you:

1. Get into the rolling food store business

Rolling food cart

photo credit: Karol Franks / Flickr

This is a great business to try a hand in if you live near an office building or a school. Products can be food, or other interesting items that office workers or students might find interesting. The advantage in such a store is that there won’t be a need to pay for rent, which you would normally have to do with a brick and mortar store.

With the rolling store business, you simply pack up and park your store in your garage at night.

2. Work your way in multi-level marketing

If you have the communication skills and the charm to get people to see from your point of view and persuade them to purchase certain products or services, then you might do well in multi-level marketing. This is currently the fastest growing business, and you can even start it off from your own home as a home-based entrepreneur.

3. Buy and sell

Vintage stuff from garage sale

You’re looking at two options here: buying and selling pre-loved items, or buying and selling new ones. Both options have a different set of customer base, which gives you the benefit of selling to more people, and thus having a wider network of possible buyers while at the same time gaining profit for something that you didn’t have to pay for manufacturing.

4. Go green

An increasing number of people are becoming more and more environmentally aware, which is definitely a welcome improvement. New entrepreneurs can tap into this customer base by offering items and services that focus on the green, or the environmentally-friendly. These can be as simple as organic soaps, or as ambitious as offering to install environmentally-friendly gadgets and accessories in homes and cars.

5. Establish a training institute

Staff training

With all the different kinds of jobs across various industries requiring some form of certification or another (asbestos training, HAZWOPER training) from their prospective employees, establishing a training institute can be a good business to get into for new entrepreneurs, particularly those with backgrounds in teaching and administration.

There are training sessions such as the asbestos certification training and certification for asbestos inspector training that can be completed or partially completed online, and this can work perfectly for entrepreneurs with limited starting budgets.

Takeaway

Capital is not the only factor in a successful business, although it is very important. For new entrepreneurs, strategy is the key which can lead to later success in the business realm.

About author

Ivan Widjaya
Ivan Widjaya 2369 posts

Ivan Widjaya is the Owner/Editor of Noobpreneur.com, as well as several other blogs. He is a business blogger, web publisher and content marketer for SMEs.

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