Planning to start new business is strenuous unless you have top-notch business idea and sufficient money and resources to start a new business set up.
Having good idea to start up a business is blessing, but having not enough money to invest on it is dilemma
According to survey report, 69% new businesses close in their first year of startup. Failure of business is not mischance of entrepreneurs. There are other factors which collectively involved in making business unsuccessful.
Strategy to Become Successful Entrepreneur
Entrepreneur should have some skills and look into following aspects for the survival of business
- Entrepreneur should be passionate towards business, once he/ she decides to start a business. He/she should be determined and committed to his/her goals. Dedication of entrepreneur gives gradual growth to the business.
- Entrepreneur should keep him/ herself away from discouraging thought that might come in his/her mind. He/she shouldn’t give attention to the people who promote demoralization
- Entrepreneur should be able to challenge him/herself. He /she should have the capability to overcome the hurdles that can come either in the start of business or during growing period of business.
- Entrepreneur should teach him/herself that obstacles are temporary and surmountable
- Entrepreneur should be as strong enough so he/ she will be able to take risk to thrive the business. Risk can be either financial or personal. Entrepreneur should be calculated about the risk factor once he/ she make decision for company or business.
4 Low Risk Business Ventures you can start today
For beginners, these factors are utilitarian for self-assessment, because they are truly helpful in venturing new business. After self-analysis you are suggested to take a look on the low risk investment business ventures
Food Delivery Business
If you have good cooking skills, you love to do experiments with food. You play with ingredients by inventing new taste then you can try your luck in restaurant business.
But brick and mortar restaurant is not affordable for everyone. Food truck business idea is somehow a good replacement of restaurants but still availability of investment from buying a truck and convert it into mobile restaurant is another hassle.
If you want to be an entrepreneur, utilize your cooking ability by starting food business idea at home with low investment. For food delivery business idea you don’t need large capital for the set up and you can start it from your home kitchen.
First you need to make a menu list which will be cooked n delivered. Search the target market where food is delivered like offices, school staff and patients at home. You can get orders for small get-togethers, parties and celebration. To deliver the food you need to buy a container box, to keep the food hot and hire a rider who can deliver food on time.
Home Based Tuition Center
If you are solicitous about teaching, you have confidence, you can work in a group of students and you are able to deal with students of different standards at the same time then tuition center in best choice to pursue as a career. You just need a space in your house. You can fix two or three rooms for earning purposes. You can convert the space into a class with small budget.
You need to determine the services you will going to offer in home tutoring. Success of Home tutoring is completely based on entrepreneur’s intelligence and teaching skills. How he / she is organizable in variety of curriculum, while time management is another most necessary element to deal with.
If not, you can check these online money making ideas at home.
Home Based Plant Nursery
You need to have green fingers for a successful entrepreneur. Your overriding concern will be feeding, watering and nourishing plants. If you have knowledge of horticultural techniques then you can change varieties or cultivars. You can increase productivity of plants by grafting, budding and perpetuate cloning.
There is a variety of indoor and outdoor plants for decoration also. Your desire customer will be from bank, event planner or small business owners. Your existing customer may become your repeated buyer.
Home Based Sewing Business
Sewing is not a usual quality. One looks stunning if the outfit is perfectly stitched and nicely designed. Person will be focus of attention in any gathering when his/her costume is extremely attractive. It’s trending these days, people take designer’s help not only for their dresses but also for house hold items like curtains, bed spread, floor cushion etc.
Imagine, your sewing skills could be getting paid, which you take up just as a hobby. You simply need a room where you will execute your creativity on a fabric. Some peaceful time is also needed, because one can explore new creative ideas when surrounding is untroubled. You need to buy wholesale fabric. Start your work and cash you sewing skills. If you are short with money, don’t distress yourself, you can take order from the customer, stitch them according to customer’s requirement
Advertise Your Business
Before advertising your business, you should keep focus on type of multitude; you need to have as a buyer. You can have following market strategies for the promotion of business
- Word of mouth by family, friends and neighbors.
- Digital marketing through social media is one of the best options for promotion you can make a Page or group on Facebook or Instagram.
- You can drop flyers in nearby residential areas, offices or in schools.
These are simplest ways to start a business. It may seem difficult to take on step forward but it is practically approachable. You will be a successful entrepreneur if you believe in your skills. You need to recognize the abilities hidden inside yourself.