An Entrepreneur Journey Guide.

Top List Of Businesses To Start And Make High Profit From!

·     What exactly is entrepreneurship?

·       Entrepreneurship can be defined in different ways but in simple words, entrepreneurship is an act to create and own a business.

To get started, first have a deep understanding of what it is in details and it challenges.

What are common challenges for most businesses?

*Fierce competition. Competition is going to be high for any type of business, you have to be prepared for it and have realistic solutions.

·      Hiring suitable candidate. it is really difficult to find the right candidate for any position in your company.

·      Funds To obtain capital for your start up proves to be difficult and it can be an obstacle. It is a lot of work as you going to be pitching to different investors who won’t invest in you just like that but demand a guarantee.

·      Hard work. Expect that you going to work extra hours and you going to be up and down. It is always hard in the beginning but as time goes, it gets better.

There are a lot of challenges to expect and I give you the home work to go and research more on it.

Now let us start with our top list, before anything just know this is a list based on my research and experience.

Top list of most profitable businesses to start!

·      Affiliate marketing

Affiliate marketing is probably a business you have heard of and may have tried before, but for those of you who are not familiar with affiliate marketing, it is basically an online business where you sign up to affiliate programs and  start promoting their product.

Affiliate marketing sounds easy but is not easy at all, if you don’t have the skills to make sales and trust easy to people online who claim to be good to services you may need , you going to have a problem and will not make any sales, without sales you will probably quit the business.

Most required skills to start and run this business successfully

*Marketing skills, you must have some of these skills, eg. Email marketing, content marketing, PPC marketing, paid ads and SEO marketing. You don’t have to know all these methods but you must at least master one or two of it, this will be an advantage.

*Customer service skill this is not necessary, most people will say but it is a necessary skill especially if you going to make sales yourself. You have to know how to approach people and every sales man will tell you this is some skill required because if you lack in it ,chances are you won’t close any sale

These are the skills I believe will be most useful to help you make a success in affiliate marketing business.

·      Food truck business

This is a kind of business that real won’t limit you in terms of profit. Just like any business it has it own pros and cons but before we dwell on that, let us first take a look at it in a successful level

Once you have concurred it. It is a very profiting business, you may start with one truck and do most of the work yourself but there comes a time where you afford to have triple of it and afford highly experienced employees who are dedicated and loyal. There will be other opportunities which going to come and benefits your business such as wealthy clients who will invite you to their big events and you can also host events that will give your business opportunity to make more profits.

·      Cons of food truck business

*Very small place to work with

* High competition

*Rude customers

*Legal restrictions

*Hectic days

* Maintenance cost

·      Pros of food truck business

*Flexible

* In demand and reliable

* Lower staffing costs

* Lower start up cost

It is important that you do a thorough research on this business and make sure you understand the pros and cons of the business. It is important to do specific and realistic calculations on all costs and make sure you are skilled. To make sure you are prepared for this business you have to make a research on things to prepare before starting a food truck business.

Property Business

Property business in America is well known as real estate business and is one of the most profitable businesses to start.

Real estate is property consisting of land and the buildings along with its natural resources such as crops, minerals or water, immovable property etc. It is leveraging your existing home for financing,  A profession of buying, selling or renting real estate. When think of it, it is trading

Advantages and Disadvantages of Property Investment

Buying a property and then converting it into an income-generating investment is a popular practice in Australia. Many see it as an easy way to get additional income since all you need to do is execute the ‘buy and hold’ strategy. That’s not necessarily the case, though. There are several factors you have to consider in buying a property.

Advantages of investing in a property

1)      Sole management

You can do whatever you want with the property. Designs, plants, styles, colours – all these can be configured according to your preference. You also choose who to rent or sell your property to.

2)      Reduced volatility

People see stocks as high-risk investments and it can bankrupt you if you’re not careful. This is one reason why people invest instead on properties as they’re less volatile compared to shares and similar options.

3)      Added income

Renting your property is one of the best ways to earn from your investment. Subtracting the tax and maintenance costs, you’ll still get a decent amount of income without doing anything much.

Even if your mortgage costs $500 and maintenance will cost you another $200, you still have money to pocket if you rent your property for a thousand dollars.

4)      Capital growth

Purchasing property in a developing location is a decision that can make you rich. Areas with high business traffic will surely generate more profit than a property in a rural area.

Newcastle, New Farm, Hobart, and Canberra are the hot places to invest in. Huge developments in the Sunshine Coast and the Gold Coast also signal a good time to buy properties in the area.

5)      Tax deductions

Expenses on maintenance, counselling fees, and cost of hiring a managing agent can all be filed for tax deductions at the end of the year. Property value depreciation can also be considered in filing for tax write-offs.

6)      Tangible asset

Having an asset that you can see and touch creates a comforting feeling that you’ve bought something solid and stable. Besides, there’s a limited supply of land while the demand for it continues to increase, so it’s advisable to grab a piece of it.

Disadvantages of property investments

1)      Liquidity

Properties are not as liquid as stocks or other investments where you can pull out your money anytime you want. If an emergency happens and you need cash, you may not be able to immediately convert your property into cash.

2)      High cost

You can’t buy a land for a $100. Unlike stocks where you can buy only a few shares as the board lot allows, properties are all-or-nothing. You can’t buy only a small parcel that will fit your $1,000 budget. A huge capital is needed in order to get into this kind of business.

3)      Maintenance

It’s also not a one-time thing where you only need to spend money upon purchase. There are cumulative costs and monthly fees you have to worry about. Moreover, maintenance of the property – plumbing, paint, roof, electricity, and telephony – is nowhere near cheap.

4)      Possible liability

If you bought property in a poor location, you’ll have a non-performing asset in your hands. It’ll be hard to look for buyers and it may take years before returns are realized (if there’ll be any).

5)      Interest rates

Mortgaged properties may experience trouble when interest rates start to hike. The monthly repayments for the loan may become higher than what you earn from renting the property.

6)      Problematic tenants

Even if you screen tenants applying to rent your property, you can’t really gauge how they’ll behave once they get accepted. Although it’s rare to have rude tenants that will cause havoc to your property, it’s best to prepare for the worst by having additional funds for your maintenance costs.

Conclusion

Property investment is a relatively easy market to learn about. You can learn how things work without having to specialize in property brokerage, land taxation, or other complicated stuff.

Property investment has its own pros and cons. Our advice is to invest in other vehicles other than property. Supplementing your portfolio with ETFs, stocks, bonds, and other investment options will give you diversification and an added layer of security in case one sector falls behind the others

Finance Business

Finance is defined as the management of money and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting.
 To understand this one first understand finance

What is Finance?

Finance is defined as the management of money and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting. There are three main types of finance: (1) personal, (2) corporate, and (3) public/government. This guide will unpack the question: what is finance?

Examples

The easiest way to define finance is by providing examples of the activities it includes. There are many different career paths and jobs that perform a wide range of finance activities. Below is a list of the most common examples:

• Investing personal money Stocks, bonds, or guaranteed investment certificates (GICs)
• Borrowing money from institutional investors by issuing bonds on behalf of Public company  
• Lending money to people by providing them a mortgage to buy a house with
• Using excel spreadsheets to build a budget and financial model for a corporation
• Saving personal money in a high-interest savings account
• Developing a forecast for government spending and revenue collection

Finance Topics

There is a wide range of topics that people in the financial industry are concerned with. Below is a list of some of the most common topics you should expect to encounter in the industry.

• Interest rates and spreads
• Yield (coupon payments, dividends)
• Financial statements (balance sheet, income statement, cash flow statement)
• Cash flow (free cash flow, other types of cash flow)
• Profit (net income)
• Cost of capital
• Rates of return  
• Dividends and return of capital
• Shareholders
• Creating value
• Risk and return
• Behavioral finance

Sources of Financial Information

To learn more about the industry, here are some of the most popular and helpful resources:

• Google Finance (market data, stock prices, news, etc.)
• The SEC website (company filings)
• Bloomberg News (company and industry news)

Finance Careers

A definition of finance would not be complete without exploring the career options associated with the industry. Below are some of the most popular career paths:

• Commercial banking
• Personal banking (or private banking)
• Investment banking
• Wealth management
• Corporate finance

·        Mortgages / lending

Advantages of financial business.

·        Improves cash flow

·        Quick and convenient

·        Flexible

·        Potential tax advantages

·        Financial ratio enhancement

·        Enable business growth

·        Builds your credit score

·        Fixed monthly repayment

·        Avoids price inflation.

Fashion Business

This is my favorite of them all because it is easy to understand and start. It is one of the most popular profiting businesses to start and there are so many guides for it.

Just like any other business it not something you can just start and succeed in but will require some skills and knowledge, first you must search for a niche in fashion industry that you feel more good and connected to, second have some guide and realistic plan that is accurate, know step by step what to do.

AA few tips do you!

·        Find  your niche

·        Have a vision of your brand identity

·        Develop a clear business plan

·        Research you target market

·        Budget smart

·         Partner with professional manufacturers

·        Don’t be afraid to start small

·        Promote your brand on society media

·         Have good communication skills

·        Listen to your audience or customers.

Now let us take a look at the challenges most common to face when starting a fashion business.

·         Capital

As you know already, starting a business requires some capital. depending on the size of business you want to start, I can not tell you how much capital you need for it.

·        Rising production costs

This is one of the unpredictable challenges you Most likely to face and it will affect your pricing and profit as well. This is one of the things to research more to be prepared for the future.

·        Distribution challenges

I need not say more on this obvious challenge as distribution won’t fully be in your control and which can be costly.

·        Competition

This is probably the most famous one for most businesses out there, competition has got to be something that comes to your mind when considering challenges in this industry. I won’t much but it going to be hard to position your brand on the forefront.

One final thing in your entrepreneur guide never start a business because you want a glamour lifestyle because it won’t  live up to your expectations. Business is hard working, you must have passion and a drive for entrepreneurship. You must have a vision and be willing to face some difficulties and disappointments as there is going to be rejects, failure, ups and downs and many more.

Have a clear understanding of how it like being an entrepreneur and decide on it with a full understanding of what to expect.

In conclusion this is my top list and it your job to research more and take action.

I live you with this famous quote.

“ If you like the rainbow you, have to put up with the rain”

By Boniswa Ndlovu