8 Best Business Ideas To Start In 2020

Since I was a kid, I always wanted to become rich.  Not in the sense that I live a fulfilled and contented life, but in the financially independent kind of way.  I didn’t grow up poor by any means but I do know people who are rich and to my young impressionable mind, I associated being rich with being able to do whatever you want.

Ten years after completing my degree and entering the workforce, I’ve started several side businesses; some have closed while others continue to be profitable.  Here are a few of them.

• eCommerce store

Because I work in tech, it’s pretty obvious that I would dabble with online entrepreneurship, which I did.  I started a company selling Japanese made watches. I didn’t have to raise a big capital since I mainly sold my products on shopping platforms like Shopify, 3dcart and Volusion.  I also offered my products on social media. It was a success for a while until the competition started saturating the market and I had to cease operations three years ago.

• Real Estate Agent

As soon as I completed my degree and got hired at a company, I set about becoming a real estate agent.  Depending on the country you reside in, the requirement may vary. In my case, I had to take a short program and then pass an examination to become licensed.  The industry is very competitive but if networking and sales talk is your forte, you’re bound to succeed.

• Content Writer

I also did my fair share of writing content.  I mainly did this in college during my free periods to earn extra cash.  What is great about content writing is you can work virtually anywhere– you set your hours and learn about varied topics, like how to start a spy shop.  The downside, the pay isn’t that great, you will be forced to write on topics you do not really care about, and you will need to do a lot of research and write fast.

• Catering Business

Now, this is one business I haven’t really started but soon will.  I did my research already and many caterers experience huge profits when done right.  Catering is a great side business for people who love to cook. I’m not a great cook myself but my husband is.  Therefore we both agreed l we will try running a catering business, first starting small and slowly growing it.

• Affiliate Marketing

This is another side business that I ventured into, a couple of years ago when I was a new hire in my company and had a lot of free time.  After work, I would work on being an affiliate marketer concentrating on blogging since I had a background in writing back when I used to be a content writer.  The job is not too demanding and there is no need for you to be tech savvy. It is also a very low risk and you can work from home or anywhere else.

• Web Development

I saved my longest side business for last.  I work in tech and have therefore extensive knowledge about computers and their processes.  What I like about this field is its growth opportunities which are still high. For my side business, I freelance as a web developer and designer for small businesses who want to transition online.  Most of my customers are friends and family and although I could make a lot more money out of it, I maintain a lower price since I enjoy the process so much and I get to help the people I know.

Other side businesses you can start includes:

• Phone Case Business

Everyone needs a phone case to protect their very expensive smartphones from damage.  This is one reason why phone cases are the top selling phone accessories in the market.  Go for catchy designs or the ones with interesting artworks and funny quotes.

• Virtual Assistant

If you have strong organizational skills, you can succeed as a virtual assistant.  They are in high demand for big corporations and freelancers. It is also a great way to meet influential people from various fields.  You can work anywhere in the world while building your professional career.

So those are the top 6 side business ideas I’ve done in my life which you should also consider starting.  Most, if not all of those listed above are relatively low risk and don’t require a huge capital which makes them perfect as another income stream for you.

Guest Post Author Bio:

Lily Brooks is an ardent blogger and frequent traveler who writes about home improvement, travel, and the latest trends in emerging technologies. She is currently working with EyeSpySupply, the leading spy shop, which offers a wide range of surveillance equipment and vehicle tracking devices.