The most successful small business ideas

the most successful small business ideas The 26 Best Small Business Ideas to Start in 2023

successful small business

Contrary to popular belief, there are actually many ways to focus less on logistics and upfront costs and more on getting your idea off the ground. We will help you overcome the biggest psychological barrier of “wanting to start a business but having no idea”.

These 26 small business ideas provide a great entry point for beginners, entrepreneurs, or anyone with a busy schedule, allowing you to pursue a side hustle without giving up everything else .

Free: Big Checklist of Business Ideas

To help you find inspiration to get started, we’ve compiled a list of over 100 popular business ideas grouped into categories like fitness, apparel, and games.

• The Best Small Business Ideas to Start in 2023
• Start a dropshipping business
• Design and sell print-on-demand t-shirts
• launch your own book
• Create digital products or online courses
• Sell ​​print-on-demand posters, greeting cards and printed matter
• Start a charity
• Selling services
• Create an online fashion boutique
• Handicrafts and homemade goods for sale
• Build an audience you can monetize
• Start a pet business
• Create an affiliate program
• Join an affiliate marketing program
• Become a virtual event planner
• Start a landscaping business
• Test application development
• Provide childcare services
• Open an online coffee shop
• become a handyman
• sell your photography
• Become a Social Media Management Consultant
• Start a beauty business
• Housekeeping and pet services
• mobile phone accessories
• Sell ​​Subscription Boxes
• Invest in vending machines

1. Start a direct selling business
2. 
   Purchase inventory, store, pick, pack, ship. When you run a business, managing inventory is a major commitment.

Click here to start selling online with Shopify today

Dropshipping is a simple, low-cost business idea and the first of our good business ideas. Dropshipping is a fulfillment model where a third-party vendor stores inventory on your behalf and ships it to customers. It’s one of the best businesses to start because it’s low overhead, hands-off, and scalable.

You don’t need to handle any products yourself – you just make sales and pass orders to your suppliers. In fact, it’s one of the fastest and cheapest businesses to start.

You can curate products from one or more vendors into your own online store based on themes that focus on a specific niche, such as gear for yoga enthusiasts or water bowls for dog owners. When a customer purchases a product from you, the order is sent to your supplier, who fulfills the order on your behalf. However, you are still responsible for your own marketing and customer service.

You can work with local and overseas suppliers as long as you can build relationships with them that are built on trust – unreliable suppliers will reflect poorly on your brand.

Dropshipping is a great way to test product-market fit and build a business before you invest in your own original product. Be sure to always order samples for yourself to ensure your supplier is reliable and the product is of the right quality to sell to your customers.

Free Guide: How to Find Profitable Products to Sell Online

Excited about starting a business but not sure where to start? This free, comprehensive guide will teach you how to find quality new trending products with high sales potential.

2. Design and sell print-on-demand T-shirts
   Another direct selling model, print on demand, leaves inventory, shipping, and fulfillment to be handled by a third-party vendor. But unlike the dropshipping business idea above, the focus here is on customizing the product with your own design to create something original.

T-shirts, hats, phone cases, hoodies, skirts, tote bags and more become the canvas for your creativity. You could come up with a witty slogan for developers or a reference that resonates with cat owners—and if there’s enthusiasm and pride in the community, you could start a potential T-shirt business.

Even if you’re not a designer, you can use freelancing sites like Fiverr , Upwork , Dribbble , or 99Designs to find designers to work with.

With many print-on-demand services, you pay per product, so the base price per item will be more expensive than ordering in bulk. But the good thing is that if a certain t-shirt design doesn’t sell, you haven’t actually paid for the item (if you outsource, you only have the design fee).

You can even use T-shirt mockup templates so you don’t have to spend extra money on a complete photoshoot for each new design.

There are several print-on-demand platforms available to you, many of which can be integrated with your Shopify store for seamless order fulfillment. However, be sure to always order samples of your product (often available at a discount) to ensure your custom product looks good.

How to Start an Online T-Shirt Business: Everything You Need to Know

3. Publish your own book
   When you think of a book, it’s just another type of product. Therefore, you can create one to meet the specific needs of your market.

Cookbooks, picture books, comic books, poetry books, photo books, coffee table books and novels – if you have the knowledge or creativity, there are all kinds of original books you can bring to market. The options are endless – which is why it’s one of the best small business ideas out there.

Print on demand is a relatively safe way to test the waters and start self-publishing. It also gives you control over the quality and appearance of your book.

Lulu xPress and Blurb are popular platforms for creating, ordering and distributing your own books as physical and digital products. You can also sell on third-party marketplaces like Amazon or Powell’s .

While you can order one book at a time, costs naturally decrease when buying in bulk. Consider pre-selling or crowdfunding your book idea to ensure there is demand and guarantee a certain number of sales so you can order in bulk with confidence.

• If you already have or are looking to write your own book, publishing your own can be a great way to monetize your blog.
• How to Self-Publish Your Book in 8 Steps
  How to Sell Books Online: Page-turning Advice from the Pros
  The 10 Best Suppliers of Print-On-Demand Books
  How to Start Dropshipping Books in 2023 (+ Top Suppliers)

4. Create digital products or online courses
   Digital products like music, courses, podcasts, and templates are unique in this list of low-investment small business ideas. Unlike others, they are not tangible. There are no recurring manufacturing or shipping costs to worry about, so your profit margins can stay high, making it another smart choice to become one of the best startups.

The trick is figuring out what makes a good digital product. What’s so useful that people are willing to pay to download it?

Answers range from original instrumental beats, to stock photos that can be licensed to other creators, to information products and templates that help people improve their skills in a specific field.

If you have a talent that can be turned into a digital product, consider packaging it into a new revenue stream.

Shopify has a free digital download app that makes it as easy to offer digital products in your store as physical products.

How to Sell Music: 6 Ways to Make Money as a Musician

Selling Photos Online: 18 Websites to Sell Your Photography

5. Sell print-on-demand posters, greeting cards and printed materials
   If you’re artistically inclined or comfortable with a camera, you can use a print-on-demand business model to do dropshipping, allowing others to actually own your work. Just make sure you own the rights to what you want to print, or are using a public domain asset that you can freely monetize.

If you already have a loyal following online (say you’re a cartoonist or urban photographer), you’re in a particularly good position to try out this small business idea.

Depending on the printer you use, you can turn your artwork into a product, such as a poster or framed wall art, or even a greeting card. There are many low-cost digital template and mockup generators, such as Placeit , that you can use to showcase your products without having to print out each item and do your own photo shoots.

Example of a postcard store from the Baltic Club product range
via Baltic Club

Learn more: How to Sell Art Online: The Ultimate Guide

How to Start a Profitable Print-on-Demand Shop Quickly

In our free 40-minute video workshop, we’ll guide you from product idea to building an online store to making your first print-on-demand sale.

6. Carry out charity
   Starting a nonprofit isn’t the only way you can raise money for a better world.

Taking on the mission of being a business partner and setting aside some profits for a cause gives social entrepreneurs a unique way to position their company in the market while solving the problems they care about most.

While many social enterprises offer original products of their own, you can also adopt any of the low-cost small business ideas above, partner with a nonprofit or execute the social good initiative yourself, as long as you’re transparent about how it works.

As part of your marketing, you can share the impact your customers are having by supporting your business, such as a blog post covering your work in the community or a real-time impact calculator on your website.

The Give & Grow Shopify app makes it easy to partner with charitable organizations and integrate your mission into your business. You can set it up to donate a specific amount or percentage of sales, or ask your customers to add a donation at checkout.

What is social entrepreneurship? Types and examples

How this social entrepreneur is building a better Detroit by empowering students

7. Sales and services
   Providing services is not passive, but it can certainly be a profitable way to become self-employed. When it comes to service-based small business ideas, “time” is your inventory and largest investment. You only have a limited amount of time in the day. However, it’s easier to get up and running if you have the required skills.

Writers, graphic designers, virtual assistants, SEO practitioners, cleaning service providers, dog walkers, real estate professionals, and more can build a business around their skills. You could offer these skills as an ongoing service, or start a consulting firm that advises on projects.

This is one of the best business opportunities as it can be scaled with any of the other ideas mentioned above to create additional revenue streams by “productizing” services through physical or digital goods.

For example, a photographer can offer his services to local events while selling prints online through his Instagram account . Freelance writers can sell copywriting swipe files for high-converting sales copy. Combining a service-based business with physical products can provide you with another source of income that isn’t directly tied to your time.

You can use BookThatApp or Acerill Appointment Booking for Shopify to make it easy for customers to schedule meetings or consultations or purchase class tickets through your store.

bookthatapp

You can also offer your services through freelance marketplaces like Upwork to increase your chances of being discovered by people who need your skills.

12 Things to Sell on Shopify (Except Physical Products)

Diversify your offerings: 5 takeaways from service businesses to retailers

8. Create an online fashion boutique
   If you love fashion and share your sense of style online, you might consider creating your own online fashion boutique. You don’t need to be a fashion designer – you can simply curate items from other suppliers into your own online store (using the dropshipping model we discussed earlier).

Dresses, Shoes, Swimwear, Accessories and More – You can build your own fashion brand using one of several product sourcing apps , model yourself with product photos and social media posts, and build an online following as a trendsetter. Apps like MyOnlineFashionStore allow you to import a variety of styles into your Shopify store.

How to Start a Clothing Line: Secrets from a Project Runway Designer

Branding tips from 14 fashion industry experts

9. Sell handicrafts and homemade goods
   If you’re a maker—whether you DIY soaps, candles, sauces, or pottery—you’re in a unique position to find small business ideas because product development and sourcing are entirely in your hands .

Unlike many of the other ideas on this list, you’ll need to consider shipping and inventory management , but you can start simply with make-to-order or small batches until you start generating consistent sales.

In fact, many makers on Shopify started as a mom-and-pop idea , selling on Etsy or eBay, or to friends and family through word of mouth , and grew into full-time small business owners after identifying demand for their products .

Be aware of any regulations in your product category, especially for anything customers will eat, inhale, or put on their skin.

Brooklyn Candle Studio is one of many maker-owned businesses on Shopify that started on Etsy.

Store example

And Arounna Khounnoraj and John Booth are a couple who have been running bookhou , an online and brick-and-mortar store selling handmade goods and functional bags.

small business example

How to start an online food business
How to Start a Jewelry Making Business
16 Things to Make and Sell Online
12 Creative Ways to Make Money

10. Build an audience that can be monetized
    In today’s connected world, the ability to attract and hold the attention of others is an asset. Many businesses are even willing to pay for it, and many creators are able to turn it into a business with multiple revenue streams.

Whether you choose to grow your following on YouTube , Instagram, or a blog (ideally a combination of different channels), there are many ways you can monetize your audience:

• Sponsored posts on behalf of brands
• Become an influencer
• Sell ​​physical or digital products (via any of the ideas on this list)
• Patron
• Combinations of the above (they are not mutually exclusive)
• Taking an audience-first approach to your small business idea means you’re playing the long game (it might take you months to figure it out). But you don’t need millions of followers to do this — for example, Instagram user Kat Gaskin launched a $10,000 product and her brand The Content Planner only attracted 3,000 followers.

How to make money on Instagram
How to get more followers on Instagram
How to Build an Email List to Build an E-Commerce Business
What exactly does it take to become a full-time YouTuber?
The Right Way to Monetize Your Audience (Lessons from Wait But Why)

11. Start a pet business
    The pet industry has matured, providing opportunities for all kinds of small business ideas. It’s an industry worth over $100 billion , so it’s in high demand. Your pet business can be based on a product or service – selling accessories, food or toys, or providing grooming, dog walking or training expertise.

In terms of services, Let the Dog Out provides customers with dog walking and “toilet use” services.

LTDO-Website screenshot

12. Create an affiliate program
    Online membership is ideal for entrepreneurs with an established active and engaged community . They work much like subscription-based businesses—customers make periodic payments in exchange for a virtual product or service.

Memberships are great for managing content on members-only sites, or even for brick-and-mortar businesses offering online coaching courses. Yoga studios, gyms, clubs, and art schools are some examples of businesses that can easily leverage this business model.

Since this content is behind a door accessible only to paying subscribers, you can host exclusive live streams in addition to (or in lieu of) the downloadable content.

Whichever route you take, be sure to record in a quiet place so the audio is clear and not distracting.

It’s also a good idea to use email marketing to keep your members informed of new content . Emails, video trailers, and customer testimonials are great ways to build excitement for a new product launch.

Starting your membership business is easy with Shopify. Set up your new product like you would a physical product, but create a name and description that let people know about your membership service.

Make sure to deselect “This is a physical product” to remove the shipping option during checkout. (Note: Depending on the application you choose to use later in this process, some of the settings required may change.)

If you want to offer different options for your membership, create variations. You can set different prices for each option and limit the number of times available by editing each option if needed.

13. Join an affiliate marketing program
    Affiliate marketing refers to a performance-based marketing strategy in which businesses pay people, also known as affiliates, to promote and sell products for them. Every time an affiliate brings in a new customer, they earn a commission from the business.

Affiliates can promote products on their blogs, social media accounts, websites, or communities. For many people, affiliate marketing is a low-cost side hustle that turns into a profitable business over time

To join the affiliate program, follow these steps:

• Look for affiliate programs on sites like ShareASale , CJ , or LinkShare .
  Select the offer you want to promote.
  Get affiliate links.
  Promote this connection across your properties.
  Every time someone signs up or purchases through your link, you earn a commission.
  Commission rates vary by company and offer. You can earn as little as 5% on each sale, while some commissions can be as high as 50% if you’re promoting a course or event. Some affiliate programs also offer a flat rate instead of a percentage.
• Join Shopify’s Affiliate Marketing Program
  What is affiliate marketing? Examples and how to get started
  29 Best Affiliate Programs and Websites

14. Become a virtual event planner
    If you enjoy organizing and connecting people, virtual event planning is a profitable business idea. Growing at an annual rate of 23% , the significant increase in business activities and the adoption of virtual tools for meetings will keep this market growing at a high rate. As a Virtual Event Planner, you will be responsible for creating virtual meetings, networking opportunities, and educational sessions for companies around the world.

Facebook’s foray into the Metaverse will open up new opportunities for event planners in the near future. For example, Party.Space has raised funds to expand its Metaverse-themed virtual events business. If you want future job security, virtual event planning is a great option.

15. Start a landscaping business
    Love nature and outdoor design? A landscaping business can be a great option for you. Landscaping, also known as lawn care, refers to modifying and maintaining the visible features of a piece of land. It is your responsibility to create beauty with natural, living elements such as flowers, grass, and trees.

The U.S. landscaping market is expected to grow at a compound annual growth rate (CAGR) of 4.5% by 2025 . Young families across the country have a growing need for residential outdoor landscape maintenance. Market competition is moderate. You’ll be dealing with some of the leading landscaping companies, such as TruGreen, as well as smaller, local service providers.

16. Test application development
    Creating a million-dollar app or your own business isn’t easy. In fact, 99.5% of consumer applications fail. Most applications are not product-market fit. They require a lot of marketing and are expensive to produce.

So why is it on our list of small business ideas? Because consumer app development isn’t the only path for entrepreneurs. New apps appear on the Shopify App Store every day, with motivated businesses in the market eager to find the tools they need.

Sounds interesting? Check out How to Build a Shopify App: The Complete Guide on our partner blog to learn more.

17. Provide childcare services
    There is a child care crisis happening right now . Coronavirus exposure, daycare closures and rising costs have left parents no choice but to care for their children at home.

An increase in demand and a decrease in supply of childcare services is a perfect combination for starting a new business. President Joe Biden’s infrastructure bill promises federal spending that will also help repair the child care market. If you enjoy taking care of children and can obtain the appropriate licenses, a new child care business may be a good business idea for you.

Explore: 24 Achievable Business Ideas for Kids

18. Open an online coffee shop
    With a strong brand and the right marketing plan, selling coffee can be profitable. Of course, coffee has a lot of competition. But that shouldn’t scare you away from this multi-billion dollar industry . There are many benefits to selling a high-priced commodity like coffee:

There are a large number of customers.
Customers often perceive smaller brands to be of higher quality than corporate brands.
There are many niche opportunities.
Because coffee is available everywhere, it’s easier to sell. People already want coffee, you just need to make them want your coffee.

Learn more: Selling Coffee from Home: What Does It Take to Start an Online Cafe? .

19. Become a handyman
    I grew up with a handyman dad who was always fixing things around the house: plumbing problems, installing tile, cleaning gutters, putting up fences. He was always the person friends and family would turn to for odd jobs. If the Internet had become popular in that era, he could have established his own business website locally and provided services!

The home repair and renovation industry is worth approximately $500 billion . Whether it’s repairing your boiler or building a patio, if you’re a handyman who likes to fix things, this could be a profitable business for you.

20. Sell your photography
    Do you have a passion for taking photos? Turn your hobby into a full-time photography business. Today, you don’t have to only sell services for weddings and corporate advertising campaigns. You can easily set up a store and sell prints, posters, NFTs, and more. Or you can sell your photos on a stock photo website.
21. Become a social media management consultant
    As of October 2022, there are more than 4.74 billion active social media users worldwide . That’s almost 60% of the world’s population. Between YouTube, Instagram, Facebook Messenger, TikTok , and every other social network available⁠—brands need help managing their accounts.

A social media manager is responsible for creating and analyzing content for a brand’s social accounts. Clients will pay you to create engaging content, write an attractive resume, respond to reviews, run ads, and more. You can charge an hourly or project rate.

22. Start a beauty business
    The beauty industry has certainly survived the pandemic and continues to gain momentum. Our research shows that 55% of health and beauty business founders report being satisfied with their business performance throughout the pandemic and beyond. Businesses that sell online and offer different delivery services will continue to win.

Some high-demand product ideas are:

Personal care products such as hand sanitizer and disinfectant
Home spa rituals like facial masks
Massage guns, smart mirrors, makeup refrigerators and other beauty technologies
Learn more: How to Launch a Cosmetics Brand and Sell Online: The Ultimate Guide .

23. House and pet sitting
    As travel increases, so does the need for home and pet care when people are away from home. With the increase in remote working, long-term vacations are becoming more common – so while you can live unoccupied for the weekend, a month-long trip may require a little more caution.

Housesitting and pet sitting are great business ideas if you’re willing to care for and live in strangers’ homes (perhaps with their pets).

You can create your own website on Shopify to market and sell your services, and you can also use specialized home and pet care websites and apps. Here are some examples:

HouseSitter.com :

This website offers both house-sitting and pet-sitting services. You can create a profile and apply it to posts. People who need house/pet sitting can also browse sitters and contact them.
Rover : Rover is a website and app dedicated to pet sitting. On it, you can create a profile and apply for gigs. These arrangements include drop-in visits but do not include overnight visits or viewings.

Care.com :

Care.com is a listing place where pet sitters can create profiles and list their experiences. You can also apply for jobs posted by people looking for pet sitters. Care.com is also a great site if you offer senior care, tutoring, housekeeping, and child care services.

TrustedHousesitters :

If you need experiences or recommendations, TrustedHousesitters is a great place to start. The platform explicitly prohibits paid gigs, so these arrangements are seen more as an exchange – you get a free place to stay, they get free seats.
Note that some pet sitters provide on-site services, while others care for pets in their own homes. You can even add a dog walking business element to appeal to a wider crowd. Whatever your choice, it’s important to communicate up front.

If you want to try these successful business ideas, it’s always important to take the time to create a great image. Choose photos that show you are happy and smiling—preferably with an animal (be sure to get the pet owner’s permission first). Fill in each section of your profile to make it complete. Be specific about your history of caring for homes and pets, and remember to include any specific qualifications or certifications that might give you an advantage over other potential sitters.

Ultimately, the best plan of attack for these new business ideas is to use a combination of your own Shopify website and a third-party platform.

24.Mobile phone accessories

Because many people now own mobile phones, the market for mobile phone accessories is huge. You can pair these accessories in many different ways – print on demand, handmade, sorted by product type, dropshipping, and more.

Some ideas for selling cell phone accessories include:

• phone case
• car and desk holder
• tripod
• amulet
• Earplugs/Headphones
• Bluetooth Speaker
• portable charger
• Wireless charger
• When listing cell phone accessories for sale, remember to include the devices they are compatible with. You don’t want to create a negative but avoidable experience for customers who receive items they can’t even use.

Learn more: How to start a phone case business from home step by step

25. Sell Subscription Boxes
    If you’re not interested in creating your own products to sell, you can curate them. One of the best small business ideas is to sell subscription boxes that contain curated products that follow a specific theme.

One of the great things about subscription boxes is that you can create them for almost any niche. For example, showcasing merchants and manufacturers in your community is one of the best local business ideas for a subscription box. You can also choose themes like yoga, beer brewing, or pets—the possibilities are nearly endless.

Like memberships, subscriptions are a great starting point for business ideas because they create a recurring revenue stream. If people don’t want to continue paying, they have to proactively cancel their subscription.

Subscriptions also help with collaboration. When you curate products from different merchants, you get in front of their audience – a pool of potential new subscribers.

Learn more: How to Start a Subscription Business: A Brief Guide

26. Invest in vending machines
    Here’s a unique business idea : vending machines. Yes, vending machines can make money. Although the industry has taken a hit during the COVID-19 pandemic, forecasts suggest vending machines will rebound.

Some reasons for the decline include less foot traffic — fewer people shopping, traveling and going to work — and hygiene-related hesitancy about touching surfaces. So if you choose to go this route, you may want to take a proactive approach and look for vending machines that offer contactless options.

The key to making this a successful business idea is having the right product in the right place. Conduct research to find high-traffic areas and find out exactly who is passing by and what they might need at that moment. With a strategic approach, vending machines can become a profitable business idea with only a small investment and an overall great business idea.

Three tips for choosing the best business idea

When it comes to logistics, the small business ideas we’ve covered may be easier to implement, but it’s not easy. No matter what business you decide to start, there are at least three things you should keep in mind when considering your options.

1. Focusing on a niche makes marketing easier
   As with any business, marketing is key to your success. It’s not enough to know that there is a demand for your products – you need to find ways to reach the people who are most likely to buy them, i.e., find out your target market. You need to attract the right visitors to discover your products.

Fortunately, marketing is much easier when you cater to a specific target audience or identity (e.g., vegetarians, board game enthusiasts, photographers in your city). You can create social media content that resonates with these people or run ads targeted to their interests. Taking this approach can also help you create a consistent brand because you can be more specific about who you’re talking to.

Think about how you can zero in on the specific audience for your product and how the business you build can serve them. If you already have a large audience (blog, YouTube channel, or Instagram account), maybe you can even find a way to build your business on that existing audience.

Learn more:

The 17 Best Places for E-Commerce Entrepreneurs to Find Product Ideas
Opportunity Knocks: 9 Examples of Niche Markets with Untapped Business Potential
Calculating Market Demand: How to Find Product Ideas Customers Want

2. Pricing is more than just profit
   Price your products too low and shoppers may think they are of low quality. Price them too high and you might scare away some customers. Regardless, you need to find a sweet spot that also allows you to factor in the costs of acquiring customers and offering discounts, especially if you plan to pay for advertising . Getting pricing right is something most business owners struggle with.

With many of the small business ideas explored in this article, you may not be shipping the product, but you’ll still need to pay for shipping. Consider your shipping costs and how they vary across the different countries you want to serve.

Many online sellers try to build shipping costs into the retail price so they can offer free shipping or at least a reasonable flat shipping rate. Others focus on encouraging shoppers to add more items to their carts and offer conditional free shipping (e.g., free shipping on orders over $50) to maximize their profits.

At the end of the day, your prices can be adjusted and you can try various pricing strategies until you find one that works for you.

The Price Is Right: 14 Strategies for Finding the Ideal Price for Your Products
Forecasting Profitability: How to Conduct a Break-Even Analysis [+ Free Template]
Five Ways to Increase Average Order Value in Your Online Store

3. Test, learn and grow as you go
   Striving for perfection can be one of the biggest obstacles to getting a business up and running. Remember, nothing is set in stone.

Products can be easily swapped in and out (especially if you don’t have inventory). Your store can be redesigned. Your price can be adjusted. You can switch to a better provider. You can validate all of these decisions based on dozens of signals at your disposal (traffic, time people spend on your site, reviews, abandoned carts, etc.).

If your idea doesn’t go the way you planned, think about how to adjust before quitting.

You can always save some aspect of your business if you try a different product or approach. The brand you invest time in creating and the following you build on social media or your email list can be assets you repurpose for your next business idea.

What are the basic e-commerce metrics I need to focus on first?
The Complete Guide to A/B Testing: Expert Tips from Google, HubSpot, and More
How to start a small business
Starting a business requires more than just a dream. To get the wheels started, you need:

Use the time you have available: It’s good to balance ambition and realism with your business ambitions.

Identify a new business idea: This could come from your personal interests, market opportunities, experiences—anywhere, really.
Validate your business idea: This is where you find out if your idea is viable. Are people willing to pay for it?

Find a business name: A strong name should be short, memorable, and original. If you need help, check out our tips for generating business name ideas .
Have a plan: Your business plan is critical to keeping your business on track and protecting partners, investors, lenders, and more.

Learn about business finances: Open your business bank account, keep your money safe, and establish strong bookkeeping and accounting processes.
Developing your product or service: the fun part! This is where you can turn your product or service idea into reality.

Choose a business structure: Your business structure affects taxes, operations, personal liability, and more. Choosing the right business structure is all about balancing the legal and financial protection you need with the flexibility that different options offer.

Research Permits and Regulations: Your business is subject to the laws governing businesses in your region, as well as the specific laws and regulations for your industry. It’s important to know this to avoid bigger problems down the road.

Choose your software system: Accounting, email, advertising, project management – ​​you need an entire technology stack to run your business.
Find a location: Determine where you can open a store based on space, retail needs, and fulfillment needs.

Plan for workload and team size: If you plan to do it all yourself, you will be limited by the time you have available to invest. If you plan to hire help, you’ll want to factor in these costs—as well as the time it takes to find and onboard freelancers or employees.
Launch your business: Leverage your network, create buzz with promotions, and test paid advertising to promote your newly launched business.

Come up with great business ideas

There are many ways to come up with your own great business ideas . You or someone you know may have had a bad personal experience with a company—and you know you could do better. Or there may be a complete gap in the market: for example, there is a demand for a particular product but no one is filling it. Other ideas come from everyday life, in the shower or before falling asleep.

Brainstorming business ideas
If you’re stumped for good business ideas or want to come up with more ideas, there are a few ways you can brainstorm further. Write down all your thoughts. Keep a brainstorming board, whether tactile or digital, and stick your ideas there whenever they come to you. Then revisit it with new eyes.

Numbers also have power. Get help from colleagues or friends and family to brainstorm ideas. Survey your existing customer base or audience and find out what they think. See what people are saying on social media or searching online. Start with a large number of ideas, then refine your list to the most important ones to explore further.

Protecting good small business ideas
Entrepreneurs have several options when it comes to legally protecting their small business ideas, both now and in the future. The right one depends a lot on the type of business you’re talking about.

Copyright: Copyright protects your intellectual property, meaning others cannot use it without your permission. This applies to text, art, photography, music, graphic design and similar media.

Trademark:

A trademark is another type of intellectual property protection. Essentially, you “own” a word, phrase, logo, symbol or design – preventing others from using it.
Patents: Patents apply to inventions – A patent prohibits anyone else from making, selling, or using your invention in their business for a period of time.
Nondisclosure and Nondisclosure Agreements (NDA): As stated in an NDA, these are legal documents that prohibit people from sharing information.

Non-Compete Agreement: If you hire employees or contractors, you can have them sign this document to prevent them from working with direct competitors.
Work for Employment Agreement: Another document – ​​this one applies only to the employee – meaning any work they do while employed belongs to the employer, not the individual.

Get funding for your business idea
One of the hardest but most important parts of starting a business is finding the funding to make your idea a reality. There are several ways to raise funds for your business idea :

Small Business Loans: Shopify Capital provides funding to eligible merchants, who can apply to receive between $2 million and $2 million in funding to grow their business.
Investors: Many investors are looking for the next big thing – the type of business that goes viral. Create promotional materials for your business idea to present to investors.
Crowdfunding: Crowdfunding is similar to attracting investors, except you need many investors, each willing to make a small financial commitment.

Fund yourself: This isn’t realistic for everyone, but lower-cost business ideas can make it easier to raise money yourself . Please be aware of the risks involved.
Go start a business now

Thanks to a combination of technology, third-party vendors, and the ability to quickly test ideas online, it’s easier than ever to build a successful business and start selling without the hassle of sourcing products, leasing space, and managing inventory.

This way you can test your ideas before investing in them, or start making money on the side without all the inventory-related commitments that might hold you back.

The small business ideas featured above can even be combined in a variety of ways to start a business that’s unique to you. If the idea of ​​sourcing, storing, and shipping inventory has made starting a business prohibitive for you before, start with an inventory-free, low-cost business model and grow from there. Get your creative juices flowing with this online list of business ideas.

The world of self-employment can be challenging, but with hard work and some knowledge, you can work towards building your own business.

• Ready to create your first business? Start your free trial of Shopify—no credit card required.
  email address
  Enter your email address
  read more
  How to Source Products to Sell Online – Top Apps + Tips
  13 Best Dropshipping Suppliers of 2022
  The Ultimate Guide to Shopify Dropshipping
  The Best Selling Direct Selling Products of 2022
  Amazon Dropshipping Guide – How to Dropship on Amazon (2022)
  What is Shopify and how does it work?
  9 Best Dropshipping Websites for Your Online Store
  Keep the spirit bright – a workshop for 7 Christmas shop owners
  Popular online shopping categories in the United States
  Business Philosophy FAQs
  What is the most successful small business idea?
  E-commerce store owner
  dining car
  personal trainer
  pet business
  Online courses
  Online tutoring
  personal health
  Bookkeeping and Accounting
  What are the 10 best companies to start a business?
  direct selling business
  Sell ​​print-on-demand shirts
  Selling digital products
  Become a blogger
  Selling Freelance Services
  Create homemade products to sell online
  Media (podcast, YouTube channel, etc.)
  affiliate marketing
  Pet sitting and products
  online fashion store
  What business is easiest to start?
  The easiest business to start is any online business: a dropshipping store, an online course, coaching, a boutique, or a sales service. Online businesses require minimal start-up costs and can be easily scaled, so you can make more profit and work less over time.
• Which business services are in high demand?
  Freelance writing
  translate
  Accounting and tax advice
  Consulting (content marketing, search engine marketing, etc.)
  Web development
  house cleaning
  pet grooming
  Uber driver