Great Business Opportunities For The Budding Entrepreneur

The world is full of entrepreneurs looking for gaps in the market. These entrepreneurs are all hoping to find a niche that could see their idea be the next big hit. The trouble with this is finding an experimental niche in today's market can be a dangerous move, especially as a budding entrepreneur. 

Something entrepreneurs often ignore is the current gaps in existing trends. These trends tend to go ignored because there is an illusion of saturation. Today we are going to be looking at some of the best business opportunities for the budding entrepreneur and why they could be so beneficial.



Support Services

Support services could be one of the most profitable business ideas in this entire article. Now although the title is quite broad, the service that support is offered in would obviously be that of your skillset.

Nowadays, more companies are outsourcing than ever before. It is far easier for a company to entrust service to an external source now, rather than hiring and managing the position in-house. Some of the most popular services companies outsource are:

  • Accounting
  • IT
  • Call Handling
  • Marketing

There are, of course, countless opportunities, but of the above, IT skills are the most required by businesses. The hiring of an IT specialist is generally one of the most expensive hires a business can make. As an entrepreneur, if you have a skill set that could fit this need, maybe outsourcing your skills in IT could be the answer you are looking for.

Property

Now, when a property comes up in a conversation about business, the thoughts generally turn to investment. Property investment can, of course, be a great business for the budding entrepreneur. Property investment does involve a cash injection of quite a large proportion, so may not be for the aspiring entrepreneur, there are, however, other options.

Property management could be the way forward for any businessman. Property management itself has many different layers, and also presents many opportunities. One of the critical areas of interest today is direct property management (DPM). DPM is probably not what most people think it is, so first let's look at property management on its own.

Property management itself is generally quite simple, you the property manager would find appropriate tenants for the property, take care of the tenants need, collect rent and offer property maintenance, all of the time whilst taking 12% of the rental income.

Direct property management, on the other hand, is far more complex and can be far more profitable, if not a little more complicated. The first step is finding a larger property for rent and contacting the landlord. The key here is obtaining the property on a long term rental agreement with the landlord. You agree on a rental some with the property owner and also arrange a house of multiple occupation (HMO) agreement. You now manage the property and house multiple occupants, such as students. The ROI you generally get from this business is vast, and there are always gaps in the market for entrepreneurs.

Marketing Services

Marketing services as a business idea can be one of the most satisfying and flexible choices when it comes to starting your new business. When starting a marketing business, the number one skill you need is the ability to think outside the box.

Many businesses are reaching out to marketing companies nowadays, as they are desperately in need of a real marketing strategy. Unfortunately, gone are the days when a business could just place an advertisement and hope for the best.

Nowadays, a business must have a strict marketing strategy, and most companies lack the time or the manpower to take on such a task. This is why marketing could be a gap for your new business. The idea behind a bespoke a marketing service requires savvy and smarts.

As an entrepreneur taking on advertising, you would know how to build a complicated strategy and use all digital mediums to your advantage. Nowadays, looking at and targeting specific groups of people is the only way to make a marketing campaign successful. This campaign is usually run and then passed to the sales department for follow-up. The most fantastic thing about considering an option like this, you will some days be able to work from the comfort of your sofa.

So there you have just a few opportunities for the budding entrepreneur. Whether you like the freedom of being a contractor, investing or working from the comfort of your own home, there is something here for you.

*Collaborative post

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