It’s time to make your entrepreneurial dreams come true! All of it really starts with an idea and it goes a long way if you are backed by substantial and practical planning.
As a growing financial technology start up, we have found out the four most important factors that you need to consider to launch a successful small business:
- The product/ the service you are offering
- The revenue that it will generate (consecutively the profits)
- The team/ hired resources you might need
- A system to keep track of your business finances and resources
The easiest way to become a successful sole trader or small business owner is to avoid wasting time, energy and money in between these factors. If you can minimise the risk of management for any two of these, you are all set!
Counting on your passion
If you are passionate about the journey of taking full ownership of your financial situation, workspace and career, then we can proceed to discuss how experience isn’t always the most important part of entrepreneurship.
Here is a list of 4 easy small business idea that will skyrocket your profits
1. AirBnB host
Have you always been proud of the comfort, cosiness and safety your guests have felt at your home? That is actually a skill set which you can explore and earn with!
If you have extra space to rent out, or an amazing lawn to throw banquets, camp nights or parties, consider signing up as a host on AirBnB. It is better than renting out your property traditionally because you get added security and insurance through the platform, you can approve who gets to book your place and price according to your own timings and days instead of being bound by a lease/agreement!
Almost all of the cost of hosting (plus your property taxes) can be lodged as deductible expenses and voila! You have your first capital to re-introduce into your small business.
This will bring you lots of insight regarding the hospitality and management industry. Who knows, you might end up launching the next big competition to Swissotel?
2. A shuttle/chauffeuring business
Chauffeuring is viewed as a job of great responsibilities. There is a rapid rise of on-demand car services in the market but everyday there are so many complaints against them, the small and the big names alike.
Add your integrity, passion and driving skills to a fresh perspective and launch your own driving business! People appreciate a personal service more because their trust is valued properly.
Don’t worry about the fuel cost, maintain a regular logbook for your vehicle, track all maintenance receipts of your car and lodge them for tax returns at the end of every financial year! We guarantee to save you at least $1000 in taxes.
3. Become a tutor/trainer
Everyone’s good at something. Why not try sharing the knowledge with others too? It’s highly rewarding and a great way to make your name as an expert coach!
If you trust your ability to explain things easily and efficiently, try to find one thing that you have been good at all your life. Everyone looks forward to what you bring to the table at thanksgiving? Try your hands at teaching home-cooking. Wardrobe crammed with medals from chess matches? Spread the word about the coolest coach in town!
The best way to get started is to become members of groups or websites where you can list your services. You can try out sites like: tutorly.co, edugraff or skillsamurai.
Don’t worry about the membership or listing fees, we will lodge the return for you at the end of the year!
4. Start your storytelling business
It’s booming! People are all ears to you at parties? Maybe you are more than just an extrovert who enjoys good company.
Explore the ambition of the conversationalist in you. Market yourself as a storyteller, share stories and experiences that move people and earn while doing what you love!
Some of the best storytellers in Australia include Michael Patterson, Kiran Shah, Christine Geenough, Eve Hoffstetter and several other experts.
Ready to blaze the trail with your new venture? Want to take some time before you jump in? Not sure how to start investing into your business? Download the MyGigsters app and get in touch with our financial experts who will assist you every step of the way!
