I love the beginning of the year as a Coach. It’s this magical time of year where everyone is pumped and ready to make ginormous changes in their lives. With that also comes goals to change professional lives, too. Entrepreneurship is one of the ideas that gets entertained the most. But how do you know what to sell when you begin a new business (especially when you want to hit the ground running)?
First, let me start with: The easiest thing for you to sell will be something you’re passionate about. If you’re really really into skincare, starting a skincare business would be a natural fit for you. You’ll be able to stand behind the products and talk endlessly about the value behind your business.
That doesn’t mean, though, that sales will be quick. Usually, far from it unless you really have a dedicated fanbase ahead of the launch. For the rest of us who are starting at 0 and just want to feel empowered as a business owner, there are some things that can be created quickly with a short turnaround.
Things to Sell When You Want to Start a Business Quickly
This usually enters the world of MLM. Jumping into an already-established product line means less R&D for you and the ability to tap into a pre-existing customer base. The downside, though, is that you don’t get a lot of customization opportunities. Plus you will often bump up against other sellers, so it becomes hard to stand out.
Creating a dropshipping business requires a low startup investment and the ability to source from a variety of vendors and products. The downside is that you can become overwhelmed quickly if you don’t stick to a niche. You’ll need to understand how to maximize the platform you’re selling on (like if you’re using Amazon Merch) so that your products actually get conversions.
Similar to dropshipping, except you can customize products with your own design. Thereby adding a uniqueness factor that will help you stand out amongst the competition. The downside to this is that you’ll need to develop a customer base on your own. So it won’t be as fast as others and you’ll need to keep on top of customer service issues (POD items usually have a longer lead time since they have to be printed) and create an expectation of a longer wait for products.
E-books, courses, and printables are great ways to enter the world of entrepreneurship, especially if you have any expertise in a topic. No printing or production times mean that you can create an automated business that can sell when you’re not around. The downside to this is that you’ll need to establish yourself in a niche and create value-based lead magnets and sales funnels to get street cred. So there’s a lot of front-loading to this.
Coaching, app development, coding, these are all potential avenues for a new entrepreneur to set up shop. Keep an eye on the latest trends and digital nomad-style jobs. Then develop the skill-set that will allow you to enter the industry. The downside is that a lot of these marketplaces are pretty saturated. So you’ll need to niche down to stand out, and there may be a learning curve you’ll have to overcome if you aren’t already familiar with the industry.