Today about 70 % of the workforce is in the service sector. Since your first business will likely be a service business (you already know how to do it and it’s cheap and easy to start), look through your resume for a job skill that you can turn into a business.
In the beginning you’ll probably be the one doing most of the work. But since you’ll be running a business from a skill you already know, it’s just like working for an employer only all of the money goes into your pocket instead of making someone else rich.
The good thing is that you learn every aspect of running a business from the ground up. Once you start hiring people you will know exactly how to train them to do their jobs.
You’ll want to start matching your job skills with other factors to generate unique ideas for your business. Do you have any hidden talents that you could get paid for? Do you have any expert knowledge?
Start combing these elements to create niche markets within your service business. In a sea of competition you want to stand out as being unique and different. Find what makes your business different.
Also, think about your working style. Do you like working in the morning or late at night? Do you like working indoors or outdoors? Do you like to travel or be at home? Do you like to work alone or with someone else?
Your service business should be something you enjoy which also uses your strengths, skills and talents.
The one skill you are going to need above all others is the ability to sell. In the beginning there will only be you and you’ll have to do all of the selling. Get used to it. Get good at it. You’ll need to know how to train others to do it once you have grown your business beyond your capacity.
Have enthusiasm for your business and it will show when you approach customers. Be persistent in your selling. In the beginning you will need to hustle for business.
The best way to start a service business is to bootstrap it. When you don’t have a lot of money to spend you have to get more creative.
Your service business should be something that will generate cash flow quickly and has long-term potential to grow into something bigger.
Use inexpensive marketing methods like flyers and business cards to get started. Offer discounts for trying you out.
And above all else give excellent customer service. It’s free and it will keep your customers coming back to you.