Best Small Business Ideas Of 2021
With so many business ideas in 2021, it can be hard to figure out which are worth pursuing. The business landscape is changing rapidly. This implies there is a need to adjust in order to stay afloat in these trying times.
While jumping on a new trend can sometimes be risky – it can also be highly rewarding. You may notice that a lot of the ideas on this list have been growing in popularity recently. Others have been popular for a long time making them more competitive but less risky. The best business ideas are born at the intersection of passion, skills, strategic thinking – and timing. So we bring you the best business ideas to consider for 2021.
Here is a list of the best small business ideas to start in 2021.
Online Courses and Coaching.
It has become easier to share your knowledge or expertise via online course platforms. If you are a subject matter expert or passionate about something, then you can convert it into a substantial income.
Offer online coaching classes to students, build a community to help while building your online coaching business. You can set up a Facebook page or even a podcast where you can reach out to people looking for online coaching classes.
Start an Ecommerce Business.
With COVID accelerating ecommerce 4-6 years, retailers are moving online faster than ever before. With ecommerce, there are multiple routes you can go – Amazon FBA, dropshipping, or full-fledged manufacturing your own products and selling them on your own website. Dropshipping is a good option for beginners since you don’t have to fulfill orders or ship them yourself.
Dropshipping is a process where online retailers post products from wholesalers, but the dropshipping suppliers manage all of the shipping. The retailer just has to generate online orders and send the shipping information to the wholesaler.
Selling products online is also a simple process:
- Choose your ecommerce platform.
- Upload or add product information to your store.
- Choose a theme and design your web pages.
- Set up settings for taxes and shipping.
- Test your shopping cart functionality and do final QA checks.
- Launch your ecommerce site.
Start a Podcast.
Podcasting is witnessing a meteoric rise. Back in 2006, only 22% of adults in the U.S. listened to podcasts. Now that number is over 75%. You can make big money too. Just take Joe Rogan for example, who was paid $100 million to move his podcast exclusively to Spotify.
So how do you get started?
The first step is to plan your podcast episodes and get your software and equipment.
Next, you need to sign up for podcast hosting. A podcast host is a service that stores your audio files and distributes them to the major podcast networks like iTunes, Stitcher, TuneIn, Spotify, etc.
Companies are always on a lookout for graphic designers to help them with their brand image.
From designing marketing collateral like banners, posters, and logos to designing landing pages and websites, the opportunities are vast.
You can pitch your design skills to small business owners or individuals to start your own business. Graphic designers can also join freelance websites like Flexjobs to find relevant work.
If you have prior knowledge in this field, getting new clients should be relatively easy. However, learning the basics of graphic design from scratch is also simple, with a lot of online courses and tutorials available.
First, you leverage graphic design software like Adobe InDesign or Photoshop to learn the foundation of graphic design.
There are over 4 billion internet users in the world and 6 out of 10 small businesses have a website. Front-end web development is a valuable skill to cater to the surging demand for launching new websites.
You can start by developing websites for your friends and family to polish your skills. While there are a lot of website builders that can help small businesses create their own websites, developers are needed for more custom jobs (and new businesses are always looking for efficient coders at cost-effective prices).
You can kickstart your career by offering competitive prices for your services and then slowly transform it into a more lucrative business plan by solidifying your portfolio.
Affiliate marketing – it’s been a buzzword in the marketing arena for quite some time.
When someone asks how to make passive money online, a lot of people automatically envision affiliate marketing. Brands that want to sell products online create new affiliate programs and allow affiliates (publishers and bloggers) to promote their products and earn commissions.
According to one blog income report study, bloggers making between $7,500 — $25k per month make 38% of their income from affiliate marketing.
In simple terms, affiliate marketing is a business model where bloggers and influencers recommend services or products they like or find useful and earn a percentage of profit for each sale that follows. It is a great form of passive income and the perfect business model for bloggers.
Here’s a rundown of how affiliate marketing works:
To get started, register with networks like ShareASale, Awin, Rakuten, Clickbank, or Skimlinks to start making money from the type of content being published on the website. The income will gradually grow along with the growth of your website – Sky’s the limit here.
You can use your excellent organizational skills to create an extra stream of income as a virtual assistant. Virtual assistants (VAs) are in high demand by corporations, freelancers, and every kind of business.
It is also an excellent opportunity to know successful and influential people from different fields of work to build your professional network and learn from experts. At the same time, it also provides you the opportunity to work from anywhere in the world while developing your professional skills.
While it’s typically a lower-paying online job, it can hone your digital skills and be the first step in starting a more lucrative freelance career.
People are always looking for virtual assistants on freelance job websites like Flexjobs.
Social Media Manager.
Billions of people are on social media – it’s natural that there are jobs and businesses to be sprung from Facebook, Instagram, and Twitter. If you have experience with social media marketing and know how the ad network operates, you can start a consulting business on social media.
Everyone from small businesses to large corporations need help getting their message out there on social media.
There are a ton of different responsiblities as a social media manager:
- Create content for brands.
- Integrate content with other email marketing and PPC strategies.
- Analyze results, A/B test, and tweak campaigns.
You have to stay ahead of trends in this constantly-changing landscape too. For example, TikTok is currently a huge opportunity for major brands, and many don’t even have an account or post regularly
Once you have the necessary skillset, you can start your own consulting business and charge either a performance fee or monthly retainer for your work.
Freelance Content Writing.
Content writers are in huge demand. If you have a knack for crafting engaging stories and writing articles, then you can turn your skills into a lucrative freelance writing business.
From website copy and sales pages to blog posts and email newsletters, you can write content for a variety of purposes. Experienced freelancers earn anywhere between $1,000 to $5,000 per week. You can also take up editing and proofreading work and use the latest grammar tools to help clients publish and upload error-free work.
Freelance copywriting gives you the opportunity to earn money from any location. Check out my article on freelance writing jobs to polish your skills further.
Once you build your portfolio, you can even launch your own website and generate inbound leads. Other than this, you can connect with potential clients on social media platforms like LinkedIn and offer anything from content writing to SEO writing.
Over the years, people have become more tasteful about how every little detail of their home’s design. There is always the need for interior designers who can create visually-pleasing and functional living spaces.
Plus, people that hire interior designers are usually on the upper end of the income bracket. And there are plenty of opportunities to get into corporate interior design, where large businesses pay you to design hotel lobbies, corporate offices, resorts, and more.
To start, check out some ideas on Pinterest, which offers plenty of interior design ideas to take inspiration from. Then use your own personal and professional network to build a business around your design skills. A portfolio is huge here, so you may also consider taking free work and working with home developers and realtors to stage homes before making the leap into full-time entrepreneurship.
Online businesses need to be data-driven to make more informed decisions. Talented data analysts, who can make sense of big data and develop actionable insights, are in high demand. If you’re great at crunching numbers and have sufficient digital marketing knowledge, then this business is for you.
Get comfortable with analytics tools like Google Analytics and data visualization tools like Tableau to improve your resume.
The data analyst industry offers good pay for full-time jobs as well. An average data analyst earns around $60,000 per year.
You can learn more about data analysis by taking online courses from edX and Coursera. Once you build your data analytics expertise, you can find remote data analysis jobs on platforms like Flexjobs. Develop your skills and you can then build a profitable data consulting business.
Personal Trainer or Wellness Coach.
Personal fitness trainers are always in high demand. If you’re into fitness and know the technicalities of workouts and diet plans, then you can make some extra money by helping people become physically fit.
Once you find the right clients and build a stellar reputation, the job is both physically and financially beneficial. With a lot of temporary gym closures and social distancing in place, it may be beneficial to start an at-home fitness business, where you travel to the client’s locations or workout outside.
There’s also the option of starting your own fitness blog to share your fitness tips with a wider audience and position yourself as an authority in your niche.
Strive to learn more about fitness training and earn certifications to add more credibility to your profession. You can also opt to become a wellness or mental health coach land offer continuing education credits like Core Wellness.
Create a YouTube Channel.
With the rise of live streaming and video-on-demand, YouTube has matured from just a video platform to a content-on-demand powerhouse.
While the market has become saturated, there are still plenty of opportunities to make money on YouTube.
First, pick a niche you’re passionate about to create engaging and unique videos. And of course, the more entertaining content you post, the more views and subscribers you’ll gain over time.
Many wildly-popular YouTubers earn millions by posting videos. However, an average YouTuber earns around $3 to $5 per 1,000 views.
Before starting your YouTube channel, learn about YouTube guidelines so that you can monetize your content. Also, invest in a good camera and microphone to make quality videos for greater earning potential.
Baking can make you a lot of money. However, you should have a knack to make scrumptious delicacies, then only you will be able to sell them at premium prices. People always give more value and preference to hand-made and gourmet baked products.
To get started, you also need to stock up some essential cooking equipment.
You can start by cooking something as simple as your mom’s perfect recipe for cookies to perfect your skills. Later, you can master a bunch of niche recipes to create your own USP and command premium rates on your products.
You can find free baking classes on Skillshare to master your baking skills further.
Invest your Money.
If your money is lying unused in banks and earning you minimal interest, then you might consider investing in more lucrative schemes. Warren Buffet is the most prominent example of being a smart investor who has made a fortune out of his intelligent investing habit.
You can start small with short term trading while learning the ropes of the stock market. Invest smartly in value stocks to grow your wealth steadily.
You can also take online stock market courses to get a better understanding of other financial investment options like cryptocurrencies and blockchain.
There are more than 1 billion computers in use right now. No wonder the market for credible computer repair services is huge. According to statistics, the computer repair industry earned a total revenue of $19 billion in 2018.
Given the high repair costs at authorized service stations, you have a great opportunity to earn money by offering cost-effective repair services. If you’re a handyman, You can start by approaching small businesses and neighboring homes to get computer repair projects. Gradually you can expand your team to take bigger orders from medium or larger enterprises.
From learning to fix networking issues to replace the crashed hard drive, opportunities are immense in this field.
Ghostwriters might not get the credit for what they write, but they sure make a lot of money. Jeff Hadden has made millions just by writing for famous and successful people. He started writing as a side gig and ended up making a lucrative career out of it.
You can secure ghostwriting gigs on FlexJobs. Beginners can expect to earn anything between $15 to $30 per hour depending upon their quality of work. Once you gain experience and develop a portfolio, your remuneration can increase exponentially.
Learn the ethics and rules of ghostwriting before entering the arena.
As with education, technology allows many bookkeeping services to be performed online. If you are an accountant or bookkeeper who wants the freedom and autonomy of running your own business, you can take advantage of modern technology to start your own online bookkeeping service, taking on other companies as clients.
Contract Customer Service
Many organizations cut down their costs by outsourcing customer service to freelancers. If you are good at communicating and have sufficient management skills, then you can easily take customer service jobs.
Freelancing websites, including UpWork and Fiverr, offer a lot of contract-based customer service. If you already have the relevant experience, then you can also build a virtual team and start your own customer service agency.
T-Shirt Printing Business.
T-shirts with exciting graphics and funky logos are in high demand. T-shirt retailing business is worth millions of dollars and relies on efficient t-shirt printers to meet the supply.
Several suppliers are already in the business, but there is enough room for new players. You can take the orders from multinational brands or local businesses or even launch your own line. Moreover, this industry allows you to work on your terms, i.e., you can either choose to work from a small room or start off with a big factory-based production.
There you have it, a list of 20+ small business ideas that’ll make you money in 2021. To give yourself the best chance of success, focus on one idea at a time until you find one that aligns with your abilities. Thousands of entrepreneurs have implemented these business ideas to make money, so you can be sure that you’re putting your time and effort into something viable and proven. Whether you’re a college student, a work-at-home parent, or anyone else looking to start a business, remember that there are plenty of opportunities to earn a sizable income.