There are a lot of great ideas out there for women who want to start their own businesses. We’ve put together a list of some of the best small business startup ideas for women to pursue. Some of these will require a fairly substantial initial investment, whereas others can be started on a shoestring budget! The most important thing is that you’re not just dedicated to succeeding as a general idea but most importantly that you are dedicated to the long hours and hard work that it’s going to take to succeed!
It’s easy to say “I want to make a lot of money” but it’s a lot harder to actually put in the effort, and to keep going even if things don’t skyrocket to the moon immediately. On that same note, it’s important for an entrepreneur to be able to judge results and to adapt, rather than just blindly pushing forward no matter what. The good news is that there is a lot of support out there, even for brand new entrepreneurs, who want to start their very own business. Here’s a look at some exciting opportunities and ideas for you to consider.
Creating a product that’s relevant to your life…
Cloth nappies might not be the most glamorous product out there, but Real Nappies has done an amazing job of taking something simple, and making it better. The founder, a regular woman just like you, was informed by her husband about the chemical colorants that appear in most disposable nappies, and it became obvious that there was a ton of potential for a company that could provide a better, more affordable solution. Rather than spending a bunch of money on fancy designs, they decided to keep the product simple but eco-friendly and it’s paid off with numerous awards and countless happy customers. So, if you’re trying to come up with your own idea for a product – it doesn’t necessarily have to be something complex or unique, you can take something that already exists and is common and just make it better. What products in your home right now would you change if you could?
Turn a hobby into a business…
Many successful woman-owned businesses start off as hobbies. Whether it’s baking your grandma’s secret recipe for brownies, or a love of makeup and beauty products, there could be a great business opportunity that you would have a great time starting! Keep in mind, however, that just because you’re good at something or just because you love to do it, that doesn’t necessarily mean that it’s a viable business.
The skills of your particular trade are part of starting a business, but you can’t overlook the importance of business skills in general. If you love fashion and the latest styles but you don’t have a ton of business experience yet, something like Madam Glamour that holds your hand and walks you through the process of starting a fashion accessory business while offering mentorship can be very useful.
To touch on makeup and beauty products again, Nourished Life is a great example of a passion that turned into a very successful business. Choosing the right niche is important. The skin care and beauty niche is very saturated, but there’s less competition in the toxin-free, all-natural sub-niche and the demand from consumers is constantly growing. Why fight against a trend when you can join one that’s still continuing to grow?
Ideas for service-based business…
Not every business has to sell a product; there are plenty of service based businesses that you can start up as well. These can be a little bit more difficult to scale up when the time comes, especially if the service is based on a special skill you have, but if you like to be hands on this is a great option. There are things like cleaning homes or office buildings, professional services like accounting or law, and techie stuff like website and graphic design. Do you have a skill that’s in demand? Offering that skill can prove to be a very lucrative and rewarding business opportunity! Here’s a huge list from Entrepreneur.com that features 105 different service based businesses to see if anything strikes a chord with you.
No matter which type of business you decide to start up, don’t forget how important business skills are. You’ve got to understand the basics of accounting (even if you hire someone else to do it), the basics of marketing (again, even if you are hiring an outside firm), and of course planning the business. As an entrepreneur starting a new business, you’ll find yourself wearing many different hats – don’t worry, it gets easier as you grow and are able to delegate more!
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