Top 3 Small Business Ideas Destined for Success

Starting a business and executing your ideas and plans indeed is exciting work. Still, it is also something that you need to invest time and money in, not to mention taking a risk. There are some excellent business ideas for you to choose from to have an additional income source without investing significant financial amounts on upfront expenses and logistics. These ideas let you focus more on the actual execution of getting off your new business to a great start.

With the help of the business ideas we mention in this space, beginners, bootstrappers, and even people with a current primary occupation can earn more money. However, you are still likely going to need a great idea and build and market your brand. But you need not necessarily spend on things like inventory and warehousing while starting. Such good business ideas are as follows:

1. Cleaning

For people obsessed with or even interested in keeping things clean, a cleaning service is a great business idea. You can start a business in this sector with only a handful of staff and some cleaning supplies and the transportation resources to carry them to client sites. With a little investment, cleaning services let you earn as much as $30-40 per hour of the cleaning session duration. By marketing your business to house owners, businesses, and apartment complexes, you stand to earn a handsome profit with a relatively low overhead cost. However, immaculate planning and outstanding dedication to the task are essential for success besides marketing.

You might want to mark out yourself from other types of cleaning services by providing optional premium services. Such services include waxing floors, cleaning everyday appliances like ACs, and power washing home exteriors and chemical washes for AC units and charge separately for the same. Starting a cleaning business is especially recommended for budding entrepreneurs based out of Singapore. The cleaning services sector there is thriving and several lesser-known names do brisk business. You can tie up with suitable reputed services like the aircon chemical wash services in Singapore. Often such addon services are what determines the choice a client makes when choosing for a new client. Reputed cleaning services typically have too many clients to be able to offer such rigorous cleaning.

2. Transcription

If you can listen accurately and type relatively fast, then starting your transcription service is precisely the business idea you were looking for. You can work remotely in a schedule suitably convenient to you. In particular, medical transcription services especially have been booming of late with voice recognition technologies coming of age in the healthcare sector. You might prefer to continue with your day job while continuing to provide transcription services as a side occupation, and you are free to do so. There are plenty of work options out there that let you accept many or a handful of transcription tasks. You might want to qualify for a transcription certification and specialize in one aspect if you want to boost your career prospects in the field or want to charge more.

small business ideas - transcription

Transcriptionists employed in the healthcare sector charge anything between $0.06-0.14 per single transcribed line. This rate makes up for a brisk and convenient income source. The industry norms include a turnaround time of 24 hours, so you must stick to the hours. But this responsibility also comes with the flexibility of having the freedom to accept only the amount of work you can handle or want to do. The lack of any overhead costs and the scalability of the business makes it incredibly lucrative.

3. T-Shirt Design And Printing

This business follows the dropshipping model. By opting for an on-demand t-shirt printing service, you can assign third-party suppliers the responsibility of relevant business aspects like inventory and shipping besides fulfillment. However, this particular dropshipping business model involves product customization through unique and original designs. You can use all sorts of fabric materials like hats, tees, tote bags and skirts, and even everyday accessories like phone cases to showcase your urge for creativity in design. You can address the passion and pride of specific communities through design characteristics like tag lines and references.

Indeed, such services are more expensive on an individual basis than bulk orders. But thanks to the fact that you need not pay for it till it is sold, it makes it easy to start the business. You only need to pay for or do the design.

These are three great business ideas that are particularly relevant in our times. If you want to succeed, you need to concentrate on a single idea and make sure that it suits your aptitude and abilities. There are thousands of entrepreneurs, if not more, who have found material success through one of the above business ideas. They are proved and viable ideas that you can adopt with your time and effort to succeed. They are equally suitable for people from all walks of life, like students or parents working out of their homes. If you want to start a business, these ideas should serve well to provide you with a significant income if appropriately executed.

Dragan Sutevski

Posted by Dragan Sutevski

Dragan Sutevski is a founder and CEO of Sutevski Consulting, creating business excellence through innovative thinking. Get more from Dragan on Twitter. Contact Dragan