In 1943, Warren Buffet at the age of 13 declared to his friends and family that he will be a millionaire by the age of 30, or jump off from the tallest building in Omaha. Inspired enough to make millions? Then, lets go back to the basics of business.
Business is a simple mechanism of give and take. But, this definition of business is plausible when it is based on a great idea. Many times, the ideas lack solidity. In such cases, business should be based on up-to-date knowledge and unmitigated skills. A common misconception in every aspiring mind is “capital is necessary before starting a business”. This misconception simply arises from mulling over the failure of starting up. Well, money is not going to make any difference if you still don’t know the way to utilize your skills. Starting up without any initial liquidity requires a breakthrough idea. If ideas don’t work, all you need to do is sharpen your basic capabilities and establish a lucrative business out of it!
Business Idea no. 1: Teaching / Educating / Coaching
A teacher’s job is given utmost respect, especially in India. For being capable to impart knowledge, skills and understanding regarding anything, it first requires discovery of interest. Your interest may lie in music, sports, mathematics or even sales; and so you can think about educating the aspirants. Secondly, regular update of knowledge must be sought after. And thirdly, the speaking skills, because nobody would pay attention to your inattentive speaking.
Business Idea no. 2: Consulting / Advising
Consulting and advising goes hand in hand. These are similar to educating the party in need. The only difference between educating and consulting is the life of service. In many cases, consulting may be done once but teaching can go on till the audience understands fully. Interest, knowledge and skills remain as basics. Consulting services can be given on fitness and diets, holiday advising, travel advising and so on, with a good return in terms of consulting / advising fees.
Business Idea no. 3: Counselling
Talking it out, understanding the problem, analysing and then comes counselling. There is an audience who are smart and can sail in their lives seamlessly and there is an audience of people who at some point in life become helpless, handicapped or unprivileged. Target this audience, motivate them, resolve their confusions and problems and charge some fees. Counselling is exonerating someone in need but nothing comes for free.
P S :
1. These business ideas are not just the means to earn hard cash from needy, but also connect with them. Having a connection with people as a part of your routine will develop the intelligence in you of dealing with people, understanding their psychologies and stay away from the sorts of blunders they crash into.
2. An everyday business based on your own interest won’t give you the feeling of slogging. Icing on the cake is nothing but to gain much deeper knowledge in the area of your own interests and passions.
3. Expansion is always possible. But remember, it solely depends on your interests, knowledge and skills; and not just on the mere urge of earning some quick bucks!