Best Small Business Ideas for Entrepreneurs
Have you ever contemplated quitting your job to start a small business?
Is your brain constantly churning out business ideas and solutions to everyday problems?
Does the concept of being your own boss appeal to you?
Have you ever considered what the best business ideas to make money are?
Do you want to make a little extra money from a side hustle business?
If you’ve asked yourself these questions before, you’re definitely not alone.
The Business Development Bank of Canada (BDC) reports that approximately one in four Canadians contemplate entrepreneurship and nearly half of the student population is dreaming about launching their own business.
But the reality is that many of these aspiring entrepreneurs fear the risks associated with starting a business and -- for those that do take the leap -- the rate of failure for small businesses is high, especially as time goes on.
What these fearful entrepreneurs and unsuccessful startups lack is a thorough consideration for how to build a profitable business.
Seeking comprehensive guidance but unsure of where to begin? Consulting with a startup branding agency might just be the step you need to transform your entrepreneurial dreams into reality.
What is a Small Business Idea?
A small business idea is an idea that can be implemented at a small scale with limited resources.
It should have the potential to become profitable and generate income for its owners, either as a primary source of income or as a side hustle, without the need for large investments of capital.
The world has no shortage of ideas; the challenge is to identify which ones have the greatest potential to be successful.
Here are some of the best business ideas for entrepreneurs looking to make money:
Social Media Consulting Business Idea
As people become increasingly reliant upon social media, businesses are turning to social media consultants to help them develop their presence and campaigns on these platforms. If you are tech-savvy and have a background in marketing, you should consider becoming a social media consultant.
Web Design Business Idea
There is an increasing demand for website developers and builders who can create simple but effective websites for small businesses and individuals. If you have knowledge of HTML, CSS, Javascript, and/or web development frameworks such as AngularJS, you can make money developing websites.
Starting a Jewellery Business
A jewellery business can be a great way to make money and express your creativity. From picking out the perfect gemstones, to crafting beautiful pieces of jewellery with them, there is something truly special about creating a unique piece that will last for a lifetime. Read our comprehensive guide on how you can start a Jewellery Business
Online Marketing Business Idea
If you have experience in online marketing, you can offer your services to businesses who need help with email campaigns, SEO, SEM and other aspects of digital marketing.
Freelance Writing Business Idea
Content writers create content for websites, blogs, social media posts and more. If you are a good writer, you can make money by writing content that businesses find valuable.
Event Planning Business Idea
If you’re creative and organized, becoming an event planner could be the perfect business for you. You could plan small events such as birthday parties or larger events such as weddings. Learn more about event branding.
Dog Walking Business Idea
Dog owners often need help when they’re away from home. If you enjoy being around animals, you could consider starting a dog walking service. These are just a few of the best business ideas for entrepreneurs looking to make money; the possibilities are truly endless. All it takes is some research and creativity to come up with an idea, you could also start a dog food brand.
Personal Training Business Idea
As people become more health-conscious, they need help staying fit and motivated. If you have knowledge of fitness and exercise, you could consider becoming a personal trainer. Learn more about fitness industry branding.
Food Truck Business Idea
Food trucks are becoming increasingly popular, and they offer a unique business opportunity. If you have the knowledge and skills to run a food truck, you could make money selling food to hungry customers.
Graphic Design Business Idea
If you have an eye for design, a background in graphic design or web design can help you start your own business. You could offer a variety of services such as logo design, website design and more.
Landscaping Business Idea
Homeowners often need help with landscaping tasks such as mowing, planting flowers and trimming trees. If you have skills in this area, you could start your own landscaping business and make money doing what you love.
Photography Business Idea
Photography is a popular hobby, and it’s becoming even more lucrative as businesses need professional photography for their websites and social media accounts. If you have knowledge of photography, you could start your own business taking photos for clients. How much can you earn from product photography?
Cleaning Services Business Idea
Cleaning services are always in demand, and you don’t need a lot of capital to start one. If you enjoy cleaning, consider starting a cleaning service business that can help busy homeowners and businesses keep their homes and offices clean.
Pet Sitting Business Idea
People who travel often need someone to watch their pets while they’re away. If you love animals, consider starting a pet sitting business that can provide quality care for animals when their owners are out of town.
Virtual Assistant Business Idea
Virtual assistants provide administrative and other services to businesses remotely. If you have skills in office administration, scheduling, customer service or other areas, you can make money as a virtual assistant.
Property Manager Business Idea
Property managers handle the day-to-day operations of a variety of properties, from apartments to retail stores. If you have experience in property management or real estate, consider starting your own business as a property manager.
That's just a few business ideas that you could consider that don't require heavy startup costs and that are fairly easy to start.
Whether you decide to start a catering business, medical courier service, cleaning business social media management take the time to research and plan out your business properly.
Your business idea has to be supported by consumer demand and your business practices need to be adaptive to what the market is telling you.
So, if you have ever thought about starting your own business and need help to get started you may want to read our blog on branding services for startups
If you’re ready to take the plunge, but don’t know where to start – we are here for you. We offer free 15-minute strategy sessions with our team of experienced entrepreneurs so you can gain clarity and confidence in launching your own business.
The session will help define your goals, provide guidance on the best approach to launching your business, and answer any questions you may have.
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What are the Business Challenges for Young Entrepreneurs?
Young entrepreneurs often face unique challenges when starting a business.
These include limited access to capital, lack of experience and guidance, and difficulty in finding the right resources and mentorship to help them succeed.
Additionally, younger entrepreneurs may find it hard to make their mark in an industry that is dominated by more established players.
However, it is important to remember that these challenges can be overcome with hard work, perseverance and the right strategy.
The best way to build a successful business is to take action – start small, make mistakes, learn from them and keep going.
By staying focused on your goal and never giving up, you will eventually be able to achieve success.
Do you need financial help to start your business?
Young entrepreneurs may need financial help to start their business.
Fortunately, there are a variety of options available.
These include applying for grants, loans and crowdfunding campaigns.
In addition, you can look into government initiatives such as the Small Business Administration’s programs or seek out mentors who have experience in starting their own businesses.
No matter what option you choose, it is important to always research and understand the terms of any loan or grant before signing a contract.
By taking the time to understand how these programs work, you can ensure that your business receives the support it needs to become successful.
Mentors for Small Business Owners
Mentors are essential for young entrepreneurs, as they can provide the guidance and support needed to make a successful business.
Having access to experienced mentors can help young entrepreneurs avoid common mistakes, stay on track and learn valuable lessons from their failures.
The best way to find a mentor is to join a network of like-minded people in your industry, attend networking events and ask for referrals from family and friends.
Additionally, there are many online resources that offer mentorship programs specifically designed for young entrepreneurs.
Finally, don’t be afraid to reach out to experienced professionals who work in the same field as you. They may be willing to mentor you, and can offer valuable advice that will help you grow your business.
With the right strategies, guidance and determination, young entrepreneurs can overcome their challenges and create a successful business.
Online Courses For Entrepreneurs
Online courses can be a great way to get the skills and knowledge needed to start and run a successful business.
There are many online courses available that provide everything from basic business advice to more specialized topics such as marketing, finance and legal considerations.
Additionally, you can find courses that focus on specific industries or niches.
What is a great business idea?
The best business ideas start with a creative concept, carefully researched market analysis and the right resources and guidance.
Research your industry’s trends to stay ahead of the competition, invest in quality training programs that will give you an edge, and find mentors who can offer their insights and advice.
Once you have the knowledge, resources and guidance needed to start your business, you can begin the process of turning a creative idea into reality.
How to Generate Online Business Ideas in a Niche Market?
Generating online business ideas in a niche market requires research and creativity.
If you have a passion for a particular topic or industry, start by researching the latest trends, technologies and topics related to that niche.
Look for specific problems within the industry that need solutions and take note of any areas that could be improved upon.
Once you have identified potential business ideas, conduct a thorough market analysis to determine if there is an appetite for your product or service.
By understanding the needs of potential customers and gathering feedback from key stakeholders in the industry, you can create a unique offering that will fill a gap in the market.
How Much Money Can You Make With Home Based Businesses?
The amount of money you can make from a home based business depends on several factors, such as the type of business, the market size and your level of dedication.
However, with the right resources and guidance, many entrepreneurs are able to build their businesses into profitable ventures.
In order to maximize profits, focus on providing a high-quality product or service that meets customer needs and exceeds expectations.
Great Business Ideas for an Online Store
The internet has opened up new opportunities for entrepreneurs to reach a much wider customer base.
If you’re looking to start an online store, consider selling unique products that are hard to find in brick and mortar stores.
Products such as handmade crafts, vintage items or digital services can be great choices for an online store.
Additionally, think about offering services that can be sold on a subscription basis, such as monthly meal kits or fitness programs.
These types of offerings have the potential to generate recurring revenue and bring in more customers over time.
Learn how to brainstorm great small business ideas
When you are brainstorming the best small business ideas to make money, consider the following:
What types of products and services do you use every single day?
Is there a problem with something you use daily that could be improved or innovated?
What unique skill sets or different types of services can you offer?
Do you notice any common issues raised by your friends and family that could easily be solved?
Are there any current trends within society that you are particularly passionate about?
Starting a small business may seem like a complex and daunting process, but getting started is really the easiest part.
The key is to filter through these small business ideas to discover the one that you can turn into a profitable business.
To determine if your business idea is viable, it’s important to first assess the market.
Ask yourself: Who are my target customers and what do they need?
Do they have a specific pain point or problem that you could help solve?
Does this potential customer base have the budget and ability to buy your product or service?
In addition to researching your target customers, it’s also important to evaluate the competition.
Are there any similar businesses within the same market that you can learn from?
Do they have a competitive advantage over you and how could you improve upon their offerings?
Once you have a clear picture of your target customers, competition and market potential, it’s time to test out your business idea.
This can be done by launching a simple “minimum viable product” (MVP) or offering a small-scale beta version of your service or product.
By doing this, you will be able to gain valuable customer feedback and learn what needs to be improved or changed in order for your business idea to be successful.
Overall, it’s important to remember that when starting a business, success takes time and persistence.
But with the right plan and strategy, the best business ideas to make money are within your reach! So what are you waiting for? Start building your dream business today!
The Best Entrepreneur Ideas
Are you an aspiring entrepreneur? If so, you’re likely looking for the best small business ideas to get your business off the ground. Whether you want to open up a small shop or find a lucrative small business idea, there are plenty of ways to bring your entrepreneurial dreams to life.
To help you make the right decision, here’s a list of the best entrepreneur ideas that could be your ticket to success. From cool business ideas to the most profitable business opportunities, choosing from any of these options could give you an edge in today’s competitive market.
1. Start an Online Business - Nowadays, starting an online business is one of the best ways for entrepreneurs to make money and reach more customers. You can start a blog, sell products or services, or offer web design services and other digital solutions. With so many different possibilities available online, it’s easy to find something that works for you.
2. Create a Mobile App - If you have coding skills or a great idea for an app, creating your own mobile application is another great way to become an entrepreneur. You can develop apps for both Android and iOS operating systems and with the right marketing strategy, you can make a lot of money from it.
3. Become a Consultant - If you have expertise in any field, becoming a consultant is one of the best ways to turn that knowledge into profit. You can offer advice on topics like business management, finance, health and wellness, or any other area in which you’re knowledgeable.
4. Open a Small Shop - Opening up a small shop in your local community will give customers access to products they may not be able to find anywhere else. You could sell anything from clothing to home décor, and you can also use it as an opportunity for branding.
5. Provide a Service - Offering a service is another great way to become an entrepreneur. You could offer anything from lawn mowing and snow removal services to pet sitting or even tutoring. Having an in-demand skill or offering something that people need will help your business be successful in the long run.
These are just some of the best entrepreneur ideas out there, but there’s no limit to the possibilities when it comes to starting up your own business. With hard work, dedication, and the right idea, you can make your entrepreneurial dreams come true! Best of luck on your journey!
Brainstorming business ideas to make money
Business Ideas from Amazon’s Top Sellers
A great place to begin brainstorming the best business ideas to make money is by reviewing Amazon’s top sellers. This can give you a good idea of what types of products and services are in high demand.
Amazon is the top e-commerce website in the world; if they are telling you that certain products are popular or on-trend you need to listen to them.
When reviewing the top sellers on Amazon, ask yourself these questions:
Do you see an opportunity to create similar products or complementary products?
Could you formulate a business around something that you are seeing?
Is there a gap in the market where you can provide superior value over the current competition?
Reviewing Amazon’s top sellers will ensure that there is sufficient consumer demand to support your business venture.
It is also a great place to brainstorm business ideas if you are having trouble figuring out what type of business that you would like to launch.
Another useful tactic is to conduct market research by talking to your potential customers, friends, and family.
Ask them what they need or want, and get their feedback on any current problems that could be solved with an innovative new business.
For example, if you notice that your friends and family are constantly complaining about the cost of their cable bill or a lack of good entertainment options, this could be an indication that they would be interested in a new subscription service.
Or if you enjoy baking and have received positive feedback from others on your baked goods, it may be time to start a home-based baking business.
Overall, there are countless business ideas that do well in today’s competitive marketplace. So don’t be afraid to take some risks and think outside of the box!
How to generate Business ideas from craigslist
One of the best ways to generate business ideas from craigslist is by looking at the popular categories on the website.
For example, if you are interested in starting a business in the e-commerce space, you can look at the “for sale” category and browse through all of the items that are currently being sold.
This will give you a sense of what products and services are in high demand, as well as the types of customers who are looking to purchase these items.
You can also search for specific keywords or topics that are in line with your business ideas. For example, if you wanted to start a clothing company, you could search for terms like “women’s fashion” or “luxury clothing.”
Another good strategy is to reach out to other craigslist users directly and ask them what types of businesses they would be interested in supporting.
For example, you could send an email or private message to a user who is selling what you believe to be a high-value product or service, and ask them why they decided to invest in it.
This will not only help you gain valuable insights into the types of businesses that are succeeding on craigslist, but it can also help you build strategic partnerships with other entrepreneurs who may be interested in working with you down the road.
Overall, there are many different ways to generate business ideas from craigslist. So don’t be afraid to take some risks and think outside of the box!
How to generate business ideas from Kickstarter and Indiegogo crowdfunding sites
One of the best ways to generate business ideas from crowdfunding sites like Kickstarter and Indiegogo is by looking at the projects that are currently being funded.
Lastly, reviewing top funded projects on crowdfunding websites like Kickstarter and Indiegogo can offer insight as to some of the best business ideas to make money.
Based on the business ideas/potential ventures on crowdfunding sites, ask yourself:
What commonalities are there with the top funded projects?
Is there a complementary product you could offer to the same group of people?
Could you reinvent one of these top funded projects and make a product or service better?
These platforms attract thousands of entrepreneurs who are working on innovative products and services, so it can be a great place to identify trends and market opportunities.
You can also search for specific keywords or topics that are in line with your business ideas. For example, if you were interested in starting a consumer electronics company, you could search for terms like “smart home” or “IoT devices.”
Another useful strategy is to reach out directly to project creators on these platforms and ask them why they decided to launch their campaign in the first place.
For example, you could send an email or private message to a project creator who is working on something that interests you, and ask them what motivated them to start their business.
This can not only help you gain valuable insights into the types of businesses that are succeeding on Kickstarter and Indiegogo, but it can also help you build strategic partnerships with other entrepreneurs who may be interested in working with you down the road.
Growing a Business: Evaluating Market and Profit Potential
Using the methods above, you should be able to come up with a few different profitable business ideas.
Once you have your business idea, you need to use several search tools to confirm that people are interested in your product or service.
This will ensure that the process of growing your business leads to success and profitability.
We like to test our ideas using Google Trends and Google Keyword Planner, Uber Suggest, and Facebook Ads.
These tools can give you insights into market demand and competition, so you can quickly identify whether or not your business idea will be successful.
How to use Google Trends to Generate Business Ideas
To use Google Trends, plug in your idea and search. In doing so, you can evaluate the market and profit potential of your business idea.
Some useful metrics to look at when using Google Trends include:
-Search volume: This indicates how frequently people are searching for your idea in a given time period.
-Interest over time: This shows the overall trend of interest over time. For example, you might see that interest for your idea has been steadily increasing over the past few years.
-Related topics: If you see that your idea is closely related to a topic that’s currently trending, this may indicate high interest and future market potential for your business.
-Regional interest: This can be useful if your target market is located in a specific geographical area. For example, you might learn that people in your city are searching for a particular product or service at a higher rate than other locations.
In addition to Google Trends, you can also use tools like Uber Suggest and Facebook Ads to get even more insights into the market potential of your business idea.
How to use Google Keyword Planner to Generate Business Ideas
Similar to Google Trends, Google Keyword Planner allows you to check the monthly search volume for a given keyword.
To use this tool, simply plug in your idea and check to see how many people are searching for it on a monthly basis.
You can also evaluate the average cost-per-click (CPC) of specific keywords, which can give you an indication of how competitive your market is.
Generally speaking, the higher the CPC and search volume, the more expensive and competitive your market will be.
If you see that there are a lot of people searching for your idea on a regular basis but the CPC is relatively low, this may indicate that there is market potential but not much competition yet.
Overall, using both Google Trends and Google Keyword Planner can be a great way to evaluate the market potential of your business idea and profitable niches.
How to use Uber Suggests to generate business ideas
You can also try using Uber Suggests. This program was designed by Neil Patel, an expert in SEO.
Uber Suggests is extremely useful as it allows you to see search volume, related search queries, SEO difficulty, and many other useful features.
To use it, simply enter your business idea into the search bar and Uber Suggest will populate a list of related keywords.
Once you have this list, you can evaluate the number of monthly searches for each keyword to identify potential opportunities.
You can also check the competition for each keyword using tools like Moz’s Keyword Difficulty Tool or Long Tail Pro.
Overall, Uber Suggests is a great way to quickly generate a list of potential business ideas and identify low-competition markets that may be worth exploring in more depth.
How to use Facebook Ads to generate Business Ideas
One of the most powerful tools for generating business ideas is Facebook Ads. This is because it allows you to target specific audiences and quickly see which ideas resonate with them.
To use Facebook Ads, start by creating a simple ad that introduces your idea and briefly explains why it’s relevant to your target market.
Then, set up a few different targeted ads that take people to the same landing page.
You can test different copy and imagery to see which approach is most effective at engaging your target audience.
By using Facebook Ads, you’ll be able to quickly get an idea of how well your business idea resonates with potential customers and what they’re looking for in a product or service.
Overall, using Facebook Ads to generate business ideas can be a powerful and effective way to identify the right product or service for your target market.
Testing Your Business Idea: Validating the Market Prior to Launch
Before launch, it is important to test your business idea to determine if it is commercially viable.
Validating the market prior to launch is crucial, as you wouldn’t want to invest thousands of dollars into a new business before testing your business idea. This step will not only save time and money, it will allow you to filter out the mediocre and subpar business ideas and land on the best business ideas to make money. In this phase, you can test as many ideas as you want. But, as was mentioned previously, don’t spend too much time seeking perfection.
There are a few steps that can be taken for testing your business idea.
The first step is to create a landing page with Squarespace or Wordpress.
The next thing you will want to do once your landing page is created is spend $200 on Facebook ads to drive traffic to your sales page.
Thirdly, evaluate your conversion rate for ad clicks and email signups. Look at the industry and analyze your results compared to other businesses.
There isn’t a right or wrong answer for how you should interpret the data. Results will vary depending on your industry and marketing experience. And if you don’t know how to create a landing page or run ads, you should do some research and/or consider hiring an agency.
This test market process can be repeated as many times as it takes to discover and validate the best business ideas to make money.
Once you’ve decided on the business idea that is right for you, take the next step and start building your business!
Starting a Business: How to Make Business Plan
In the initial phases of starting a business, it is important to come up with a business plan that will help you conceptualize the operational, marketing, financial, and human resources components of your business.
Creating a business plan is a fundamental aspect of starting a business and lack of doing so contributes to the high rate of failure among small businesses. But, if you do not have a background in business and are unsure of what is generally included in a business plan, this process can be challenging.
If you are intimidated by this process and are unsure of how to make a business plan, you can check out one of our recent blog posts How to Make a Business Plan!
Being Opportunistic: Advice for Starting a Business in 2023
Now that you are equipped with the knowledge, skills, and resources to start your business, it is important to factor in the role that the macroenvironment plays.
The macroenvironment involves the landscape in which your business operates. Now more than ever, businesses face troubling economic times, competitive markets, and environmental and societal forces that largely impact operations.
Our advice for starting a business in 2023 involves being opportunistic. While many businesses have been negatively impacted by the COVID-19 pandemic in 2020 and 2021, others have found innovative ways to succeed in the unprecedented macro environment.
The best business ideas to make money are interconnected with their business environment. For this reason, we advise the following:
Be Opportunistic: look for sustainable solutions to problems within society.
Be Innovative and Open-Minded: challenge the status quo and don’t put a limit on the creative process.
Be Adaptable: don’t put all your eggs in one basket. Be proactive, diversify, and/or be ready to pivot in the face of challenges.
Be Positive: rise above the negativity in society.
Be Willing to Take Risks: the willingness to take risks is crucial for all entrepreneurs, regardless of the time, place, and setting.
Simply put, our advice for starting a business in 2023 is to take on the challenge and not be afraid to fail. The only way to discover what’s possible by getting started.
“Good ideas come from bad ideas but only if you have enough of them” -Seth Godin
Things to Consider: Listen and Learn from Your Surroundings
Before embarking on your entrepreneurial journey, there are a few last things to consider.
We encourage that you listen and learn from your surroundings.
By this, we mean that there are plenty of resources out there to mitigate your risk of failure, that you should consider utilizing.
One useful resource would be to find a mentor that has experience in starting a business or an industry expert related to your business idea.
Not only can this mentor provide moral support when you face challenges, they may also be an invaluable source of information.
Another great resource is to read reputable news publications and to stay informed about what is happening within the economy.
This will ensure that you have a thorough understanding of the key aspects to starting a business within the external environment.
Some key topics that you should pay close attention to involve the global environmental push towards sustainability, new innovations within the technology sector, diversity and inclusion, and changing trends in consumer behaviour.
It is also important to consider what is happening internationally.
Nowadays, with the rapid innovation in technology and access to information, many companies are going global much quicker and at less of a cost than would have otherwise been possible just a few decades prior.
By listening to what is happening internationally and learning through primary and secondary research, you may find that your business idea is better suited/would complement an international market.
While the learning curve to going international can be extensive, the best business ideas to make money are not limited to what is comfortable and familiar.
By finding a mentor and staying well-informed, you will increase your odds of success in pursuing your business venture!
Other Resources
Branding in a Box for Small Businesses
Digital Marketing Report for 2023
The Ultimate Guide to Creating a Brand Identity