If you aspire to build wealth, there’s no reason why you can’t achieve that goal. For example, consider Snowday, a company started by teach-turned-entrepreneur Jordyn Lexton. It’s a food truck, but it’s doing more than just filling the hungry bellies of passersby. Snowday employs young people that have been incarcerated (which makes it harder for them to find work) and helps them gain valuable skills and experience on the job.

They require initial investments, and those investments won’t return immediate results. Therefore, a startup probably won’t be profitable in its first, second, or even third year (and some startups never even reach profitability). But when you break it down to these basics, it’s easy to assume that a startup is really just a small version of a soon-to-be large corporation.

If you have a flair for interior design, a staging service might serve as your creative outlet and professional calling. You can build a portfolio with little initial investment by staging homes using the owner’s existing furnishings and decor. Most stagers eventually build up an inventory of furniture as they become more established and network with area realtors. Consider offering packing services only, which have a much lower financial barrier to entry.

It’s not enough to know that there’s demand for your products—you need to figure out ways to reach the people that are most likely to buy them, i.e., figure out your target market. The small business ideas we’ve covered might be easier to run when it comes to logistics, but that doesn’t make them easy. There are at least three things you should keep in mind as you consider your options, no matter what business you decide to start.

We made two initial changes based on our experiences with small companies. Yet on closer scrutiny, it becomes apparent that they experience common problems arising at similar stages in their development. Operating as an LLC means that your personal assets are separate from your business assets. If your business goes bankrupt, your personal holdings won’t be affected.

Your business needs a unique selling point (USP) to differentiate itself from the crowd. discover here can be as simple as targeting a specific niche, demographic or location in a well-established market, or be something more game changing. The beauty of online business is that you have the option to leverage multiple channels.