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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
4 Ways to Become Your Own Boss
If you hate taking orders from others, are tired of making money for companies, and want to embark on an exciting business venture, it might be time to say goodbye to the 9 to 5 career and become an entrepreneur.
However, if you haven’t spotted a gap in the market, you might be unsure how to launch your own venture. If so, here are four ways to become your own boss.
- Network Marketing
Network marketing allows you to determine your profit margin and focuses on person-to-person sales. After investing in a product line, you’ll be able to sell exceptional products to your friends, family, and contacts to make a considerable income each month.
With the right network marketing training, you could enjoy long-lasting, sustainable wealth, as you’ll develop the sales capabilities you need to grow your business.
- Freelancing
If you have a sought-after skillset business owners are commonly looking for, consider launching your own freelance service. For example, if you are a web designer, writer, or graphic designer, you could sell your professional services to multiple companies.
Plus, as a freelancer, you’ll be able to set your own rate and working hours, so your career can work around your personal life. It’s an ideal option for those who want to ditch a 9 to 5 career and/or spend more time at home with their family.
- An E-commerce Business
Online retail is growing from strength to strength, which is why more people are starting their own e-commerce companies to capitalize on its success. If you want to launch your own company in 2019, it could be a perfect avenue for you.
However, various factors can determine your site’s success, as you will need to choose the right:
- Brand name
- Domain name
- Website design
- Logo
However, your product range and price point will also impact your site’s revenue, so you’ll need to select items your target customers need and pick the best pricing to enjoy a superb profit margin month after month. You also have the option to manufacture your products or to invest in either wholesale or drop shipping inventory.
- A Consulting Business
If you have exceptional knowledge and experience in a specific industry, you could start a consulting business. Companies might be more than happy to pay good money for your industry expertise, so they can improve their brand, products and services, which could help them to become a leader in their chosen field.
You will be responsible for providing a company with informative advice, planning or resources to help them improve their operations and internal efficiency. For example, they might hire you to find a solution to a problem or to help them reach their annual goals.
While some consultants can specialize in improving every aspect of a business, others might specialize in various departments, such as:
- Marketing
- Business management
- Public relations
- Product development
- Human resources
- Accounting
It is, therefore, important to play to your strengths to develop a reputable consulting firm, as it can help you to create a positive reputation in the industry.
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