10 Business Ideas for Young Entrepreneurs In Their Spare Time
These jobs that have low startup costs and are part-time are perfect for the young business person getting started.
Entrepreneurship is about finding cost-efficient solutions to problems that may get in the way of your success. Rather than being a career, those who call themselves entrepreneurs follow a certain lifestyle that revolves around finding new business ventures. As a young, eager entrepreneur, it's no surprise you're often motivated to make more money and put in extra work.
There are numerous low-cost side jobs you can do with your current skill set that can help you reel in more cash as long as you put in the work. To help you out, I've put together a list of 10 business ideas that young entrepreneurs could pursue in their free time.
As an entrepreneur, you probably have a lot of knowledge about a particular field or sector. You can become a freelance consultant and advise companies that can benefit from your expertise. From marketing to human resources, sales, and even resource management, all of these skills can help you make good money by consulting.
You should be careful and make sure there aren't any license requirements in your area, and if you're working online, make sure you maintain a professional tone and good grammar throughout your communications.
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In a nutshell, companies of all sizes are turning to apps because they can help to ensure efficient and effective communication with customers. Apps can also help consumers carry out different tasks, such as updating information on their profile, processing orders, and receiving information about products without the need for assistance from another human.
Similarly to building apps, the stock exchange has always been regarded as a specialized field that was only accessible by invitation. Thanks to the development of mobile devices and widespread of technology, you can become a stock trader from the comforts of your home.
Unless you're an expert in finances, you'll have to read and learn about the ins-and-outs of the stock market. You can always start trading in low-stakes markets to get familiarized with the industry and build a name for yourself, eventually moving into high-stake markets that generate more profits.
Simple Graphic Design
There is a wide spectrum of graphic design, ranging from putting together a simple banner to logo creation. A number of companies need experienced designers to help them build complex graphics, but you can teach yourself the basics and offer simple graphic design. You can specialize in providing banners and low-cost social media elements that companies often require quickly.
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Customer Service Agent
If you have a fast internet connection and you enjoy providing assistance, you can always opt for a customer service gig from your home. If you have some experience in telecommunications, you can even look at opportunities to become a sales representative or collector, which often pay better.
These are great alternatives because you'll be provided with all the tools you need, some training, and you can almost always start immediately. However, always keep your client's time zone in mind or you may end up working late evenings or early mornings!
We live in a globalized society, so entrepreneurs that are fluent in more than one language have a significant advantage when it comes to business opportunities. Likewise, you can start offering translation services on the side, which can earn you a significant amount of money without having to learn a new skill.
Translation jobs vary greatly, and the bigger the company you work with, the bigger the payout. Just remember that they will also have higher quality standards, so tread carefully and only accept assignments if you feel you're fluent enough to handle them. Once you earn a reputation, you can expand and set up your own translation services agency.
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One of the most basic jobs you can do is data entry. Filling out forms and other documents one by one does not require a high level of dexterity, and the work usually comes in bulk. You can earn a good amount of money and all you need is a computer and internet connection.
The only downside to data entry is that it has a relatively low payout and it can become extremely tedious after a while. You have to be really motivated and find ways to keep yourself engaged while you're on the clock.
If you love the outdoors, meeting new people, and know your city like the back of your hand, you could offer walking city tours. Moreover, if you live in a developed metropolis with public bike rentals and bike lanes, you can provide cycling tours for tips or a set a flat rate per trip.
There are many companies that provide local delivery opportunities, a perfect side gig if you know your way around town. You can even opt for a bicycle delivery position and stay fit while earning money.
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Rideshares are some of the fastest-growing jobs in Europe, Asia, and North America. You can now share your vehicle, drive people around your city, and get paid for it in your free time. There are numerous platforms that help connect drivers to people in need of rides, and the best part is the majority of them provide the insurance needed to cover you in case of emergencies. You don't have to live in a big city, as sharing your vehicle can be extremely profitable in smaller towns and areas with slow public transport.
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There's nothing wrong with having a side hustle that helps you gain more financial flexibility. The jobs above should provide a great alternative if you want to invest your spare time into money-producing activities. Just make sure you provide quality work and you'll attain a status of success that can spread to your entrepreneurial ventures.
Marsha Hunt is a Growth Marketing Expert business advisor and speaker with specialism in international marketing.