Ideas for EntrepreneursYou’ve got the spirit. You want to become an entrepreneur. You’re eager to take responsibility for your own success or failure, you’re tired of living in a cubicle, and you’ve realized that the only way to truly protect your future in this economy is to rely on yourself.

Now what do you do? After all, modern life prepares most of us to be good little corporate employees, not visionary entrepreneurs. Entrepreneurs end up working just a little bit harder just to go against the sheepish mindset that dreams, at most, of being able to take an extra week off for vacation every year.

But as important as your mindset is – and it’s vital – you also need to get some ideas of what kinds of businesses you can open as a new entrepreneur. What are your options, particularly if you haven’t invented the Next Great Thing or discovered a cure for baldness?

And what if you haven’t yet had any solid experience with running and opening your own business? What paths can you take where you can get on the job entrepreneur’s training, so to speak?

Fortunately there are a lot of business options out there for everyone from the new entrepreneur to the person who has at least done high-level business management. There are business options to fit every budget, too. Here are a few quick ideas:

Entrepreneur Business Ideas

  • Franchises. With a franchise you own a single (or multiple) locations of a chain like 7-Eleven or Wendy’s. You pay the costs of building or leasing and modifying a building, hiring the staff, and stocking your store with the stock required by your franchise partner. In return, you receive extensive training in that franchise’s procedures and a good chunk of the profits your store earns. Franchises are a good opportunity for people with some business experience and a lot of money to invest – from the ten thousands to a million dollars or more.

  • Selling your own art or craft products. This is an easy, inexpensive kind of business to get started with, and you can even do it in your spare time. You don’t even have to create your own business web site – just go to Etsy.com and sign up there.

  • Finally, another relatively easy and inexpensive option is to join a multilevel marketing or MLM company as an Internet marketer. Most MLM companies these days allow their representatives to at least have a company-sponsored web site and to earn commissions on business done through those sites.

Out of the three options above, Internet marketing an MLM company’s products and opportunities has the most advantages in terms of time and money spent vs. returns received. Granted, you may end up spending about the same amount setting up your MLM business as you would on the supplies to make the art or craft projects you’d sell on Etsy. But with most MLMs you don’t have to keep your inventory in your home, and you don’t have to spend the money to ship products to customers. Those are big savings right there.

And neither an Etsy store nor opening an MLM business involves the kind of 60+ hour weeks and potentially huge financial risk that’s involved in opening a franchise.

Granted, once you become an entrepreneur there are no guarantees no matter what kind of business you choose to create. But you can at least minimize your investment of time and money until you’ve learned the ropes – and opening an online MLM businesses is one of the best ways to do it.




Comments (1)

  1. Sally Says:

    October 15th, 2010 at 10:08 am

    Very helpful article. I work from home doing affiliate marketing and make decent money, but it takes a lot of hard work and time to start making money.

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