Entering the fast-paced world of business is the dream of many enthusiastic self-starters, with the dream of self-employment and autonomy seen as the holy grail of employment status.
Starting your own business from scratch can be time-consuming, daunting, and not always the best or most proven way to provide you with a return on your investment. The following 7 strategies are ways you can get your foot in the door of the business world, without throwing money into the wind.
A wonderful way to enter the business landscape (which often carries a smaller associated risk) is through the purchase of a franchise.
Franchising offers you the ability to run your own business, while providing you with a recognisable brand and marketing collateral. A franchise also offers the ability to guide you towards success with tested strategies, brand messages and sales techniques aimed at growing your business.
If you’ve got your eyes set on a quick entry into a particular career, existing business or industry, another entrance pathway is through an internship or mentorship.
An internship is the exchange of your service or labour for experience and knowledge. Many of these exchanges also have the ability to transform into paid positions. Those that don’t can leave you with contacts, experience and a taste for what is required to succeed and build a successful career in that industry.
Part Time To Full Time
Sometimes, it’s hard to commit to a new direction full-time, whether that’s due to family commitments, financial commitments, or for health reasons. This shouldn’t be a barrier to achieving success in the business world, and there are a growing number of part-time opportunities which can be completed from home.
Sales-plan based businesses offer you the flexibility you need so that you can commit only to the hours you’re able to work. Companies such as Avon, Tupperware and more use this model of business, and offer you the ability to create your own customers and market.
The shared economy encompasses a range of start-ups such as AirBnb, Uber and Airtasker. These start-ups utilise their App-based system to arrange for individual contractors to complete work on their behalf.
Getting involved in the shared economy can be great for people with time-management concerns, or those with tight schedules; you can pick your hours, set your location and keep your remaining time for yourself.
These types of jobs can also help you to transition into self-employment or business ownership, by giving you autonomy over your workload and finances.
Another great way to enter the business landscape is through online enterprise. Starting an online business requires less potential overheads and can be managed from your home – a benefit to those who may have young children or other commitments which require their presence at home.
An online store can be as simple as setting up an eBay account and configuring and curating your content. Once you’ve established what you’re selling and your price point, it can be handy to draw up some marketing goals and attempt to grow your audience through different channels.
A successful eBay or online business has the potential to grow into a brick and mortar store, or a mobile business. The room for growth and expansion is huge.
(Not So) Hostile Takeover
If you are keen to immerse yourself fully in a business from day one, consider buying an existing business. The benefit of buying an existing business is that you often receive the legal and practical tools enabling you to conduct business instantly, without the need to wrangle the necessary permits and purchase the expensive equipment.
Existing businesses will also often have a customer base, which will enable you to research and grow your market from day one. The key to succeeding in this type of business is to do your research before making a commitment to buy.
Kickstart Your Idea
You may have big business ideas and lack funds, or you may only have enough startup capital for a prototype. In any case, there’s a wealth of online platforms aimed at helping you crowdsource your idea.
Platforms like Kickstarter offer entrepreneurs with new ideas the chance to pitch their ideas in exchange for a variety of rewards (such as copies of the prototyped item or other related paraphernalia).
Another benefit to utilising a platform such as Kickstarter (or Go Fund Me) is that it’s highly shareable, and can be disseminated around the world. A well-run and funded campaign can also attract huge media attention, enabling you to build the audience for your new business exponentially.
Taking charge of your future through business ownership or investment is a big decision, but there are now more options than ever. Consider your time, resources and financial obligations and make the choice that best navigates all three.