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deucher
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Asked: 2023-08-14T14:05:24+00:00 In:

What is the best business idea for a newbie?

Very often, beginners want to start a business and they even have the funds for it, but they do not always know which business is the best and most profitable to start so that the investment pays off one hundred percent

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2 Answers

  1. Lens
    Knowledge Seeker

    The most important advice to give a rookie in business world is to ensure to gain relevant experience on how to run the business . Typically, he should get enough experience on the risk that is attached to such business before engaging in it. There are several platforms he can gain experience on theRead more

    The most important advice to give a rookie in business world is to ensure to gain relevant experience on how to run the business . Typically, he should get enough experience on the risk that is attached to such business before engaging in it. There are several platforms he can gain experience on the business for free. He can utilise YouTube and some other free learning platforms to gain enough knowledge on how to manage such business before investing money.

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  3. yusra
    Trusted Adviser

    Here are some of the best business ideas for beginners just starting out: Service-based business - Start a service business that leverages your skills like web design, bookkeeping, house cleaning, dog walking, etc. Low startup costs. Sell products online - Start a simple online store selling productRead more

    Here are some of the best business ideas for beginners just starting out:

    • Service-based business – Start a service business that leverages your skills like web design, bookkeeping, house cleaning, dog walking, etc. Low startup costs.
    • Sell products online – Start a simple online store selling products through Shopify and similar ecommerce platforms. Dropship goods to save on inventory.
    • Consultant – Becoming a consultant allows you to provide expert advice and insights in your field of knowledge. Low overhead.
    • Affiliate marketing – Earn commissions promoting other company’s products and services through your website and content. Easy to start.
    • Freelancing – Offer freelance services like programming, graphic design, writing, data entry etc. in your spare time. Use freelance job sites to find clients.
    • Resell items – Sourcing and reselling products through platforms like eBay and Etsy taps into established markets.
    • Rental property manager – Managing properties for passive rental income investors can be done part-time. Low startup costs.
    • Food truck business – Opening a food truck lets you sell artisanal or specialty foods without the cost of a restaurant. Start small.
    • Buy an existing business – Take on an already established small business to reduce some uncertainty. Leverage existing brand and customers.
    • Direct sales – Sell products supplied by an established company as an independent sales rep. Popular for cosmetics, health items and home goods.

    The key for new entrepreneurs is starting small in an industry you understand well, minimizing risk and upfront investment until your business gains traction.

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