9 Small Startup Ideas to Make More Money in 2020

No matter how rewarding your job is, exploring the best small startup business ideas and eventually becoming an owner of any venture is more advantageous than great pay and number of benefits from the full-time job. 

Advantages of being your own boss and hustling your way into making more money than a 9-5 job is way better; the hard work will have all been worth it. Therefore, let’s talk about several business ideas that can help make more money than your full-time job.

Take a read through my top picks for the best business ideas that you can start right now to make more money in 2020.

1. Start Selling on Etsy  

Just in case you have a talent of creating something with the help of art and craft, then this is the right place to start selling your talent and making more money than a full-time job. Etsy is one of the world’s largest marketplaces where anyone can open his shop and start selling. Etsy is also helpful in building a brand and growing your audience that is fond of your products and services. Starting a shop on Etsy is free of cost but requires a proper authentication of the products and services.

2. Wedding Photography & Videography 

According to the recent survey conducted by the Forbes, wedding photography and videography demand premium rates. After all, you are capturing one of the most blissful moments of a couple’s life. Starting a new startup in this field has a huge scope as professional wedding photographers charge $2000 - $5000 or sometimes more to shoot the whole wedding. 

3. Catering Business

If you know how to cook or have a keen interest in cooking and inventing new dishes, then trust me, starting a catering business would be beneficial for you. Starting a catering business requires a lot of network and less investment. When you enter this business, you will see that the market for this business has a wide scope. With the help of networking, you can easily capture the market share and create the brand in no time. 

4. Online News Reporting

You do not need to have a degree in mass communication to become a journalist or to provide online news reporting. HuffPost is the company that welcomes every new person who can provide the local coverage as news reporting. In return, they usually compensate for contributors based on ad revenue generated per article written. This field has the most widen scope as it is less explored until this date. One can easily establish the startup of online news reporting with a minimum investment of $150 - $230, acquiring all the required certificates and licensing to run the startup.

5. Fashion & Lifestyle Blog

You must have seen some top fashion bloggers and influencers on Instagram and Facebook these days. You will be amazed to know how much they earn from their travel, fashion & lifestyle blogs online. Usually, the renowned bloggers earn around $8000 - $10000 or even more in a month. So, if you are passionate about fashion and lifestyle and thinking to earn through blogging, then you can surely think of starting your won blog. It usually requires uniqueness in blogging which makes you blog stand out from the others.

6. Accounting Business

If you have the basic knowledge of the software called Tally, then you can start your accounting business from scratch. Starting this business requires you to have a base of networks through the mouth of words, referrals, etc. Making money in accounting business is limitless; it is just that you have to manage your time according to work with different businesses at the same time.

7. Public Speaker

If you have an expertise in a niche but never had your own business in it, then you can start a business by offering public speaking services at events or conferences. There are various events and functions which need a public speaker to speak on the given topic without any hesitation and offer handsome money in return. When you create the client base, you can easily deliver speeches at least twice a day. Usually, a public speaker earns between $5000 - $7500 per month.

8. Translator

As long as you know multiple languages, you can build a start-up business by offering translating services to individuals or businesses in need of assistance converting conversations or documents from one language to another. This small start-up has a wide scope. You can easily make more money than a 9-5 full-time job and become your own boss.

9. Security Consultant

If you possess the technical skills, then you can easily start an online security consultancy services and charge handsome money in return. These days, hacking, scamming, and viruses are just some of the security threats on the web. If you know your stuff, you could make very good money in consulting businesses. Especially those who can handle sensitive customer information and want to keep it as safe as possible. You need to get documentation and licensing done to launch the startup online and to create a customer base. Usually, an online security consultancy service provider earns more than $10000 in a month easily.

"Good things happen to those who hustle.” – Anais Nin

https://www.goodreads.com/quotes/348099-good-things-happen-to-those-who-hustle 

 Starting a new venture is no easy task. It comes with several road bumps and difficulties. Every small business has to face some hurdles like lack of funding, lack of recognition, beating the existing competition, etc. However, these hurdles do not mean it’s the end of the dream. 

Road bumps that all business owners face when they start small startup are:

Ø Existing Competition

New small startup business is often considered as the newborn baby in a very large playground. The business of a similar nature in the market always has an upper hand. They can capture the whole market share and make the new startup business difficult to sustain because of their less market share. To make your business stand out in the market, every business owner has to invest a huge amount in the area of advertisements and promotion. This investment will help them in sustaining in the market. But not every business owner has the required money to invest and sustain for a long time in front of the competitors. Hence, it results in winding up of the business.

Ø Lack of Funding

We all know that every business owner starts his business with the aim of making tons of money, but it is a fact that starting a new startup or business from scratch requires a lot of investment at the beginning. Because of the realization of the costs and the lack of funding availability, most of the businesses die even before they get started, .

Conclusion:

Starting your startup is a hard task, all you have to do is to dedicate yourself in building your brand and developing networking with the help of interactions with several business associates. This best benefit one can avail by starting his own venture is that he can become his own boss and enjoy the decision-making part. With the hard work and continuous effort, one can easily turn a small startup into a million-dollar business in no time.

Summary: 

The growing trends show that the small startup business can help you make more money than your 9-5 full-time job in 2020. But making money is no easy task, one has to devote his soul in continuous hustling to achieve the desired goals and set objectives in life. Hard work and focus is the key to success in any business.