You can work on any schedule you prefer.
You can even opt-in for the digital nomad lifestyle and start a business whilst you travel the world simultaneously.
The dynamics have shifted massively.
Before, businesses took years to set up, 100s of workers to run, and years to generate some sort of profit.
Today, all it takes is one, ambitious person who decides that the path of mediocrity doesn't fit their goals.
almost 600 million people around the world have decided to go this route.
You no longer need to worry about having the same product or service as another person - almost anything can make you successful.
The title is a bit of a clickbait - techincally speaking, you're unable to build a business alone.
A business is a corporation or organization that provides products or services in the pursuit of generating a profit.
A one-man business is only considered a 'side hustle.'
Every side hustle can turn into a full-fledged business when it's time to scale.
Nonetheless, here are the 4 best businesses you can start & run by yourself.
Every month, almost 200 million people get on their phones or computers to visit Amazon.com.
Amazon receives over 2.5 billion+ visits per month, worldwide, making it one of the biggest companies in the world.
Since 2006, when Amazon FBA was first introduced, it's been the backbone of eCommerce and online businesses.
Companies like Anker pioneered this wave and have become billion dollar brands from it.
Amazon, alone, is responsible for tens of thousands, potentially even 100s of thousands of millionaires, globally.
In one of my articles, I said that the secret to wildly successful businesses is a business that makes someone else money - where Amazon or Shopify were the prime examples.
Selling on Amazon can be done by anyone around the world.
There are only a few things you need to start all by yourself without any help.
- You need to have an audience with a need (the product you'll sell)
- You need to have some startup capital (up to $10K, but you can start as low as $1K)
- You need patience and the right mindset
Once you have these three, your Amazon business is all ready to go.
Simply go and find your product on a platform like Alibaba and contact suppliers.
You'll want to make sure that you're finding a supplier who has the following:
- Good communication
- High quality
- Low prices
These are essentially the most important traits of a supplier, amongst other things.
From here, you will negotiate with the suppliers, get the best price possible, and order samples.
After the samples arrive and you're happy with one supplier - make a bulk order of 100+ items, making sure your logo is on the products.
Once it arrives at the Amazon warehouse, you're ready to start selling.
Unlike selling on Shopify and setting up your own eCommerce store, here, you don't need to worry about a site or even advertising.
Although it's possible to use Amazon's PPC advertising, sometimes you won't need to.
The most important things to keep in mind when it comes to Amazon is getting good reviews for your products and keeping inventory ready.
When the snowball gets going, it usually gets going.
You don't want to slow down your momentum by running out of stock.
You can have a little card inside your product's packaging that says 'thank you' and tells people to leave a good review to get X% off, or follow you on social media.
This usually works really well for a lot of sellers.
Amazon, like anything else, can eventually be scaled up and built into a real business.
You can start making sales on Amazon, but eventually, you want to also set up on Shopify, collect customer's emails, build a following, and build a team too.
If you'd like a more detailed run-through of starting an Amazon FBA business, let me know in the comments below!
I wouldn't consider freelancing a business.
A business is supposed to free your time and allow you to do things that you want to do.
When you're a freelancer, you're essentially a more 'free' worker.
You work when you want, how you want, where you want, but you're still substituting your time for money.
The biggest leverage with a business is the ability of completley detaching your time from money.
Don't get discouraged though, as a freelancer, you can eventually turn it into a business too.
Think about it like this:
If you're a good copywriter, you can start by charging $50/hr for your service.
You eventually work your way up to $150/hr.
Whilst you're working your way up to this point, you're also gaining lots of reviews, ratings, return business, etc.
You might even get referrals from your clients.
All of this helps you position yourself as an expert, as the 'go-to' person for copywriting.
Eventually, you can start building a small team of copywriters.
Each of them charges $150/hr, where you get $100-$125/hr commission.
Now here's where the numbers start to get crazy.
Let's assume you hire 10 copywriters who each clock in 10 hours per week.
That's 100 hours per week, or $15,000 in revenue.
Now if you're taking $100-$125 each hour in commission, you're making $10,000 to $12,500 per week.
This is equal to $40,000-$50,000 per month. Pure profit.
See, when you go into something with a long-term view, you can quickly see how big you can turn it.
However, if we think about freelancing in the short-term, it doesn't sound nearly as appealing as how I just described it, right?
A freelancing business could possibly be the easiest type of business to set up.
You simply pick a service you're really good at, and do it.
My favorite service, as you might be able to tell, is copywriting.
It's fairly simple and pays really well.
On top of that, a copywriting freelance business can also be turned into a copywriting agency where you charge businesses thousands per month to do their copy.
Another highly popular service is SEO or search engine optimization.
People who know their way around SEO are extremely valuable.
If you don't know any of these skills, don't worry.
Make an account on Fiverr, and follow my article about becoming a successful Fiverr freelancer.
From here, you'll want to list your service on the platform, and start to learn a high-income skill too.
Start with free courses on Skillshare.
You don't need to know everything before you start earning from it.
You can accept clients before you know everything about SEO, copywriting, Facebook ads, etc.
You're really able to scale when you can get enough experience and move onto Upwork - there, you can get away with charging higher prices compared to Fiverr.
I was watching a Noah Kagan YouTube video when I heard him talk about a young man who started a translation business and is making almost $2 million per year from it.
The man, at the time, was learning a language from a tutor.
He then came up with an idea - he asked the tutor if he could go out and find her clients.
If he did, he would receive X% commission.
After successfully finding clients for his tutor, he realized he can turn this into a business.
He set up a website and started to get language tutors on the platform.
Starting small, he only did one single language.
You can try this as well.
The easiest and fastest way to set this up is to get a website and advertise to two different people.
You want to run ads to people who speak a specific language and are tutors.
Then you want to run ads to people interested in learning that language.
Although this could incur some large costs, it's the fastest way to set up a business like this.
Another way is to simply become a tutor or trainer yourself.
Are you fluent in a language, smarter than many in a specific subject, or know a lot about diets, health, fitness, etc?
If you have something you think others want to learn, you can simply teach it to them.
If you're a good gamer, you can even be a trainer/coach for people who want to improve their gaming abilities.
Once again, you can use a platform like Fiverr to find your first clients.
When I ran my marketing agency, there were a lot of coaches and trainers who would reach out to me.
That's another, more direct method of finding clients.
I have a friend who used to tutor maths students a few years younger than us.
He did it in the weekends whilst also going to school during week days.
The way he found students was by signing up to be a tutor in local tutoring centers.
Wherever you live, there could be something similar to this near you.
Search it up on Google by typing things like 'becoming a tutor,' 'signing up to be a tutor,' etc.
All you need is some initial traction in order to scale into a real business.
We can then apply the philosophy we used at the start of this topic, and build a site where you specialise in tutoring something, for example maths.
This is one of my favorites on this list.
Blogging is one of the best things you can do if you're looking to start a business.
Because you're building a real audience in the process.
An audience is arguably the most important thing when it comes to starting a business.
Think about it like this:
Person A starts a business - he has 0 contacts on an email list.
5 months later, he is making $1000 per month from his business.
Not the worst situation, right?
Now, how about person B?
Instead of starting a business, person B starts a blog.
For 4 months, he writes articles consistently and builds a following.
He also starts to post on social media and TikTok in order to grow his following even faster.
After those 4 months, he has 1000 people on the email list and 10,000 TikTok followers.
During the fifth month, he decides to start a course and pre-sell it before it's even created.
He advertises it to his audience and gets 80 purchases for $299 each during that 1 month period.
80x299 is equal to $23,920.
Do you now understand the difference?
A blog is very important for many reasons - I started my blog because I wanted to share the truth behind the entrepreneurial journey.
I saw a lot of content online that only promoted 'get-rich-quick' schemes and so I wanted to debunk this for others.
I started the blog with no real goal of making money any time soon.
However, what's more important is the eyeballs I'm getting to my blog.
When I start to create content on TikTok and link back to my blog, my email list will explode with new subscribers.
From there, I can do anything I want and know that I have a list of subscribers who can help me bring something to life.
Whether that be a business, a course, or whatever, you could start by building an audience around it.
A blog is a great way to do this - in fact, you can even earn money from adsense when you have a lot of people visiting your site every month.
There are some bloggers, like Neil Patel, who make millions (potentially) per month, from their blogs.
It's all about:
- Creating good content
- Growing an audience
- Doing something valuable for that audience
If you have some sort of passion, start a blog around it.
This could be fashion, cooking, hardware, software, outdoor equipment, business, etc.
Whatever you like to do or talk about, you can start a blog around.
You can read my article about starting a blog for free in 24 hours or less.
It's important to be consistent.
It was a very satisfying and rewarding journey.
Those were the 4 best businesses you can start & run by yourself.
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