Dear M & M:
What are some top business ideas for 2016?
No matter what ideas are trending nationally one must always consider market conditions and management expertise. This includes competition, substitute products, population, cost to conduct business, management experience, disrupting technologies and trends. The best idea on the planet might not work for you or might not work in the area you are planning to conduct business in.
Timing could be off or someone could move in on you to compete doing the same thing cheaper or better than you 30 days after you have opened. Opening a business can be one of the most rewarding things you can ever do. It comes with many risks. Someone once said, “To be successful in business one must be able to do what most people won’t so later on in life you can do what most people can’t.”
There are about as many sacrifices in anything to achieve any amount of any reward you will earn. With all that said here are a few ideas. Working from your home has been trending upward in the last few years. Home internet careers from freelance work to web design will continue to grow.
You must be a self-starter and have the specialty skills, a sales attitude and have a customer friendly approach to be successful. Delivering professional, dependable services on time affordably will all be important components required to be successful.
Once again franchises continue to be a leading successful top business trend. One must do your due diligence and make sure the franchise you are considering is legitimate and that people are actually making money doing it. Do your research. Dig in and start your search.
There are thousands of opportunities in the franchise world. Don’t assume they are all going to work for you. Finally, a last area to look into involves take advantage of trending opportunities. Remember our population is getting older, there are segments looking for healthier choices, and new products are emerging daily.
There are many opportunities from in-home health care to installing security devices. Solve a problem, offer a better solution or sell something that people want. Remember just because you think they need it or will buy it isn’t necessarily so. Make certain people are ready, willing and able to make the purchase.
Yard work, errand services, mobile food trucks, bookkeeping, online sales, grant writing, estate sales to include buying and selling second hand items are just some of the areas trending now. In your travels have you seen a business that was successful? Would it work here? Do you have an interest or hobby that could be a business?
Doing something you are good at and know something about increases ones chance to succeed. Common sense, research and detailed planning need to take place. Easy to say hard to do, but try to find something new or a new way to deliver a product or service different from anyone else. You will find yourself swimming in “blue sky” and not competing where the waters are “bloody” where everyone else is competing for the same market share. “An organization, no matter how well designed, is only as good as the people who live and work in it.” –Dee Hock