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If you have the entrepreneurial itch – but feel overwhelmed on which business idea to pursue – seeing potential options laid out in front of you might be the missing puzzle piece you need to take your next step forward.
According to recent research from Pew Research Center, low pay and lack of opportunity for career advancement were the top reasons employees quit jobs in 2021. Many professionals are exploring alternative career options; if you are one of them, you may have realized that, to enable the freedom and flexibility you need in your career, your best next step is to invest in starting a business for yourself.
Some businesses require lots of time or money to get off the ground. These 10 options enable quick testing and low startup costs.
BYOB life (That’s “being your own boss,” of course!) can be a sustainable way to work toward financial independence. But which business idea is right for you? If you’re ready to take the next step in your entrepreneurial journey, here are 10 tried-and-true business ideas that will get your wheels turning.
#1: Create on online course
E-learning was a $250 billion industry in 2020 and is projected to become a $1 trillion industry by 2027. If you have a computer and something to say that can help people, online courses have low startup costs and high profit margins when you hit the nail on the head.
To make an online course fly, however, you need an audience of people who want to buy it, and audiences can take years to build. Online course marketplaces like Skillshare can be a great way to work around the “no audience yet” conundrum. According to Skillshare Chief Marketing Officer Liana M. Douillet Guzmán, your online course doesn’t have to be as long as you might think in order to be lucrative.
“The best way to succeed as a Skillshare instructor is creating engaging content that is digestible, project-based, and personal,” she says. “Most of our classes include an hour or so of pre-recorded video content broken down into a series of short 2-5 minute videos. Rather than teaching a broad, sweeping skill set, the most successful classes hone in on one specific concept or skill.”
“Once you make and upload your content, you can continue to make passive income with no additional work,” says Guzmán. “…….