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5 Small Business Ideas for the New Year

6 Min Read
All these new businesses around you may motivate you to start your own. But you're undecided on what it should be. Here are five ideas.

All these new businesses around you may motivate you to start your own. But you’re undecided on what it should be. Here are five ideas.

Fortunately, this new-normal society ensures enormous earnings from small resources.

With everything going online and technology taking over, there are limitless ways to earn. But becoming an entrepreneur requires foresight. While you’re still thinking out what your small business should be, someone else is already generating money and building an empire.

Small Risk, High Return

Are you looking to establish a business now? Consider the changing standards and technology developments. It will assist you in choosing one that will benefit you long-term.

Listed below are five small business/entrepreneur ideas to start in the New Year.

1. Reseller Hosting

Nowadays, reseller hosting is quite popular.

Reseller hosting operates like a rental business. Instead of owning and renting an online residence, you rent web server storage space. This gives users access to all web server resources needed for a website. In addition, reseller hosting is less expensive than buying straight from the central hosting service.

Owners may make a lot of money if they rent the place for a long time.

A simple technical understanding of website hosting and a budget to acquire a reseller plan from the parent provider allows you to customize those packages and sell them.

The definitive guide should be your first stop for learning how to resell hosting. This type of company has a lot of potential as you can offer it alongside web design, development, SEO, and other online services.

2. NFT Collectibles

NFTs are non-fungible art tokens that may be used as blockchain digital assets. The average monthly sales for NFT’s value was calculated at $336.6 million USD. This shows the NFT industry’s potential.

If you like visuals and crypto, you might like the NFT startup business. You don’t need to be an expert in all graphic design tools to start with creativity and fundamental abilities.

The blockchain allows you to mint any sort of abstract item, GIF, photo, song, sketch, or anything else. To mint art, you must first code it for blockchains. It will prevent anyone from copying your art. The most common cryptocurrency for selling NFTs is Ethereum. However, there are others.

3. Sustainable Products eCommerce Business

Starting an eco-friendly eCommerce business might be a terrific solution for you.

People are becoming more aware of the need to conserve the environment. The sustainable goods industry is expected to hit $150 billion USD by year’s end. You may earn your share by opening a modest online store.

Introduce notebooks, stainless steel water bottles, cloth totes, travel mugs, biodegradable cutlery, bowls, plates, reusable food bags, and other recycled plastic items. You may quickly create an eCommerce website or launch your business on Amazon, Etsy, or eBay.

4. Affiliation

Affiliate marketing is also a terrific way to generate money.

Affiliate marketing is online marketing. It’s simply helping others promote and sell their products or services in exchange for a cut of the revenue. You can utilize blogs, YouTube videos, social media, and an email list.

The most popular choice is blogging, which produces long-term effects. A website is all you need to become an affiliate marketer. After that, join an affiliate network such as Amazon Associates. Then choose a hobby and start writing about it to make money.

In other words, affiliate marketing has a high return on investment and may be done as a side hustle. The nicest part is that it can be automated.

5. Online Coaching

This is the new normal. The e-learning industry is expected to reach $336.98 billion USD by 2026. For instance, if you are brilliant at something and know everything about it, share your expertise…and get money.

Virtual classrooms are possible using Google Meet, Zoom, and Microsoft Teams. Also, you can make money by teaching skills relating to your industry via your YouTube channel.

Providing mini-classes in any profession or industry is always a good trend. You can train people online in any field, from manufacturing to digital marketing. You can be a relationship coach, a financial coach, a health coach, etc.

How does that work? It’s simple.

Most small business owners can access in-house or online classes for themselves and for their employees. The cost is nominal. Even free sometimes.

So do yourself a favor. Look into continuing education for yourself. Also for your staff. It will help you expand your horizons. Similarly, your employees will become more efficient and more valuable. And maybe even a bit grateful.

Don’t hesitate to offer tuition reimbursement. This can be a key to better employees. The more you know, the more you contribute.

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Becca Williams is a writer, editor, and small business owner. She writes a column for Smallbiztechnology.com and many more major media outlets.