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Solo's blog provides the resources that microbusinesses, solopreneurs, freelancers, and other super-small businesses need to start, operate, and grow.

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In this article:\nStart brainstorming\nSolve a problem\nDon’t look for a completely unique business idea\nStart doing something\nTalk to professionals\nDo market research\nDetermine the costs\nDetermine the time commitment\nTalk to your personal network\nStarting a business is a big decision and a great step toward independence in your career. Before you can start a business though, you need to have a solid idea to get off the ground. \nComing up with a business idea and deciding the type of business you want to run is the most important part of starting a business. We’ll walk you through some important steps in determining what kind of business you should start. \nStart brainstorming about small business ideas\nWhen you start your own business, you should make sure it’s something that you’re passionate about and enjoy. This will help you find the motivation to keep it going when times get tough. \nSo, to find your passion, start brainstorming. \nGet a sheet of paper or jump onto a Google doc and make a list about yourself. List the things that you really enjoy doing and things that you’re good at. These can be things like “I’m really good with kids,” “I enjoy talking to people,” “I’m organized,” “I’m great at strategic planning,” etc. \nOn another page, make a list of things that you really don’t prefer to do or aren’t particularly good at. Maybe you’re great at talking to people one-on-one but you don’t like talking to large groups or making big presentations. Write those things down. \nLet the creative juices start flowing and keep writing until you have an expansive list of things about you that can help you to determine the perfect type of business for you to run. \nman brainstorming for small business startup ideas\n\nYour idea for small business should solve a problem\nUltimately, your business idea should solve a problem for someone—and it doesn’t have to be a problem that no one’s ever solved before. \nIf you’re good at landscaping and lawn care, look at what it takes to start a lawn-care business. It’s been done before, but it’s perfectly fine to enter into a market that has some competition. \nThink about a common problem that people have and will have for many years to come. Then, come up with an idea that solves that problem, whether it’s a new way of fixing an old problem or the same way that other businesses are already solving the problem (just better). \nDon’t look for a completely unique small business idea\nThis may seem like an odd suggestion, but most ideas that you come up with aren’t going to be totally unique. You might think of some grand idea only to go look it up on Google and someone is already doing it. That’s OK!\nBusiness ideas that are already in use are proven to be successful, and competition is a necessary aspect of the free market. If you think you can excel with a business idea that someone else has already started, then give it a try and look for ways that you can make it better. \nOn the other side of this coin, if you start a business that is \ntoo\n unique, consumers probably won’t know that it’s even a service or product that they need and won’t think to look for it. \nIn this online world, coming up with a business that people already need and are searching for is going to help you immensely. \nWe aren’t trying to discourage you from being unique, we just want to bring up these points for your awareness in your search for the perfect business idea. \nA unique business idea can succeed if you’ve done the research on the need/desire for it and know how to market it well. For example, an existing \nsmall business idea can work in a small town.\n The people in that town would probably appreciate a regular laundromat if they don’t already have one!\nStart doing something\nDon’t just wait around for an idea to fall into your lap. Start doing something. Maybe you don’t have your business idea totally figured out, but you know what you’re good at doing, so do it.\nStart freelancing and taking on side jobs that relate to specific skills that you enjoy using. Use those side gigs to determine if you’d be interested in starting something like that full-time. \nYou might find that you don’t enjoy doing those things as much as you thought you did, or you may decide that you’ve hit on a great idea and have a great place to start from. \nTalk to small business professionals\nWe cannot stress this one enough. Talk to a lot of professionals who have started their own businesses or who help run businesses in the industry that you’re interested in. \nYou don’t have to do this all on your own, nor should you. Plenty of people have started successful businesses before you, so take advantage of their experience and ask questions to help guide you in the right direction. \nUpon talking to people in your desired field, you may decide that this is the perfect route for you, or you might find out that it’s not at all what you thought it would be. \nYour local chamber of commerce or SBA association can be a big help in networking with local businesses and getting you talking with the right people.\nDo market research\nAs you start to really narrow down the ideas for your new business, do a lot of market research. You need to determine if your business idea is even a viable solution for the demographics you would serve in your specific location. \nHere are some questions to look into during this process:\nWho would benefit from this business idea? \nIs there enough demand in your target location to provide profits?\nHow would your business solve your target customer’s problem?\nWhat would motivate consumers to choose you over competitors?\nWho would your competitors be?\nHow does your audience view your competitors?\nWhat are your competitors doing to get customers?\nHow would people purchase from you (online, in-store, through affiliates)?\nHow would you reach your target audience (marketing strategies)?\nDetermine the costs of starting a small business\nIf there seems to be a good demand for your business idea and it makes sense from a market research perspective, then it’s time to determine if it makes sense for you personally from a financial perspective. \nWhat will the costs be for you to start up this business? Will you be financing everything yourself, or will you be seeking out investors or loans?\nDepending on the type of business you are starting, there could be a decent amount of capital that you need to get off the ground. So make sure you know what your costs will be before diving all in. \nDetermine the time commitment of your small business idea\nAlong with costs, starting a business also requires a huge time commitment. Maybe you’re starting small as a side gig, so it only takes a small amount of your time at first. But as you get more clients, that could change quickly. \nDetermine what kind of time will be necessary for the business idea you’ve come up with and plan accordingly. \nIf you don’t have the time to devote to getting this business idea into action, then it might not be the idea for you, or it may not be the right time to start a new business. \nRun your small business idea by your network\nWhen you have thought through your new business idea or even before this point, you should run your idea by your personal network of people that you trust. Talk to friends, family members, mentors, and get their thoughts on your idea. \nSometimes when we get a new idea, we get so emotionally invested in it that we haven’t thought through all of the risks that could come with it. \nTalking to people you trust and letting them give their feedback can help bring up points that you didn’t think about. 

How to decide what kind of small business you should start

In this article:\nSole proprietorship vs. incorporation\nTypes of incorporations\nHow to incorporate your small business\nWhen you first start your business, a sole proprietorship makes sense, especially if you are your only employee. But at what point should you take the next step to incorporate your business?\n \nAs your business starts to grow, there are several advantages that incorporating can offer you. There’s definitely a lot to think about as you’re considering taking that next step with your business, so we’ve provided a great starting point for your research with this article. \nSole proprietorship vs. corporation\nFirst, let’s define sole proprietorship versus corporation. \nA sole proprietorship is a business that is owned and run by one person. In this type of enterprise, the business and the owner have no legal distinction and are essentially the same entity. \nAn incorporated business (a corporation) is a company that is formally recognized as a separate entity in the eyes of the law. Once incorporated, the business is its own legal structure separate from the individual/s who started it.\nAdvantages of a sole proprietorship\nAs you are starting your business, keeping it simple as a sole proprietorship can make a lot of sense. Some of the advantages of this include:\nYou don’t have to file separate business taxes\nYou have less paperwork because you aren’t required to separate financial statements for your business and yourself\nYou get to keep all of your profits because you are the sole owner\nAdvantages of incorporating your small business\nWhen you decide to incorporate your business, you are turning it into a legally separate entity. The business and the owner are no longer one and the same. \nBecause of this, some things may become a little more complicated, like taxes and financial records. But it provides several advantages that being a sole proprietor doesn’t offer. \nYou can protect your personal assets from lawsuits and bankruptcies because your business and you are separate entities\nEstablishing your business as a corporation gives your business more credibility with customers, vendors, and employees\nAn incorporated business has the potential for better longevity. If you pass away as a sole proprietor, the business goes away with you, but an incorporated business can be passed along to another owner and the business can continue\nBetter chance of securing a business loan \nTypes of corporations\nAs you are considering incorporating your business, it’s important to learn the types of corporations, the advantages of each, and the purposes they serve. \nIn simple terms, the main differences between each type of corporation are the ways that taxes are handled.\nfile tabs with LLC S corp C corp for how to incorporate small business\n\nLLC\nLLC is a \nlimited liability company. \nLimited liability means that the owners of the company are not personally responsible for any debts or lawsuits that the business may incur. LLC members (another term for the owners) don’t have to put their personal assets on the line to cover lawsuit settlements. \nThat being said, there are some similarities between an LLC and a sole proprietorship to keep in mind. An LLC is kind of a stage in between a sole proprietorship and a full corporation. It combines some elements of both types of business structures.\nTaxes are one such thing in an LLC that are more similar to the structure of a sole proprietorship. The LLC doesn’t pay its own income taxes; the owners list their business profits and losses on their personal tax returns. \nWith an LLC, you can choose to tax your business as a corporation, but there are some additional tax laws and filing requirements to consider (learn more under the S corporation section below). \nThere are some distinct differences between an LLC and a corporation that you should consider before deciding which direction to take:\nIt only takes one business owner to form an LLC; you don’t need to have multiple members to get started\nIf you run a business in the banking, trust, or insurance industry, you can’t form an LLC\nSome states prohibit additional types of businesses from forming an LLC, so learn what your state requirements are before pursuing this option\nC corporation\nA C corporation is owned by shareholders of the company and, as such, its profits are taxed differently from any other type of corporation. A C corporation is required to elect a board of directors to oversee policies and make business decisions for the company.\nMajor advantages that a C corporation has over other types of corporations:\nC corporations usually have a lower risk of being audited\nYou can deduct the cost of benefits as a business expense (for example, you can write off the costs of health plans for your employees)\nThe corporation’s profits are taxed, and then the profits can be split among the owners (usually saving money on taxes for the individual owners)\nC corporations can have an unlimited number of stockholders\nForeign nationals can invest in C corporations\nS corporation\nAn S corporation is not a type of business entity like an LLC or C corp. Rather, it is a way to designate how your business will be handling its taxes. The IRS only classifies businesses as one of the following when it comes to taxes:\nSole proprietorship\nPartnership\nC corporation\nS corporation\n“LLC” is not an option when determining how to handle your business taxes because in an LLC you have to choose whether to file taxes as a sole proprietorship, partnership, or corporation. \nThat’s where S corporation comes in. This is the designation you can choose on your taxes for your LLC business if you want to be taxed as a corporation. \nThe main difference between taxing your business as a sole proprietor and an S corp is the way Medicare and Social Security taxes are handled. Sometimes, LLC owners can save money here by choosing to file as an S corp. \nAdvantages to taxing your business as an S corp:\nThe owner reports an individual salary which counts as an expense for the business on tax returns\nMedicare and social security taxes are only paid from each individual’s salary, not all business profits\nincome tax documents return for S corp for how to incorporate small business\n\nHow to incorporate your small business\nYou might already have a pretty good idea of which type of corporation will work best for your business. But no matter which way you choose to file, the following steps are important as you start the process of incorporating your business. \nConsult an attorney\nFirst, find a good attorney. Unless you are an expert business lawyer yourself, it’s likely that you’ll miss some things along the way, so protect yourself by consulting an attorney to help you hit all the right steps. \nAn attorney will be familiar with compliance, local licensing and zoning laws, and the proper paperwork for filing your incorporation. \nDetermine which type of corporation is right for you\nDo your research on the purposes and advantages of each type of corporation. Which is the best for your business?\nAre you a solo business owner and just want to keep your business and personal assets separate? Then an LLC could be a good route for you to take to protect yourself as an individual from any lawsuits that may come up related to your business. \nOr, maybe you have multiple owners, several employees, and/or a number of people interested in becoming shareholders. Then a C corporation might make more sense for you. \nTalk to your attorney about the tax implications of each type of corporation that you are considering and use that to help you decide which way to file your business. \nFind a business name\nWhen you file your business as a corporation, you need to have a unique business name. You won’t be allowed to choose a name that is already in use in your area because that will confuse consumers.\nSo, come up with several different options for a business name. Most secretary of state offices even have an online business name search where you can see which names are already registered. Use these resources to help you come up with something unique. \nName a registered agent\nA registered agent is someone that can accept mail on behalf of your company. When your business becomes a corporation, you are required to have a registered agent. This can be the owner of the company, your business attorney, or another director or employee within your company so long as they reside in the same state as your business. \nThere are even online services that you can pay to act as your registered agent. \nWrite articles of incorporation\nEvery corporation has to write their “articles of incorporation.” This is typically a one to two-page document that includes the following information:\nExplanation of your corporation’s purpose\nYour business’s name and address\nNames and addresses of each member of your board of directors\nNames and addresses of each officer of the corporation\nThe duration of your corporation (usually forever)\nYour attorney should be familiar with this process and can help you draft up your articles of incorporation. There are also online legal sites that offer assistance with this for a small fee. \nFile articles of incorporation with your state\nOnce you have your articles of incorporation written, you need to file them with your state. There is a fee associated with this—usually anywhere between $100 and $500 depending on your state—so be prepared for that. \nThis document should be filed with your secretary of state, and you can usually do this through their website. Find your secretary of state’s website and follow their instructions for filling your articles of incorporation. \nObtain business permits and licenses\nAfter your business is registered with the state, you need to obtain any and all business licenses and permits that are required for your particular business type (if you don’t already have these). Your attorney can help you determine what you need here. \nOpen a bank account for your business\nNow that your business is a separate entity for you as an individual, you need to open a separate business bank account. This will help you keep accurate records of your business’s finances. \nAll of the steps leading up to this point should be sufficient for an LLC. If you are choosing to establish a C corporation, continue with the next three steps. \nWrite your corporate bylaws\nCorporate bylaws lay out how your corporation is to be structured. They should have information about your shares, voting rights, how to replace board members, and other such details. \nTypes of information that you might include in your bylaws:\nTypes of shares that can be issued by the corporation\nInformation about shareholder and board meetings\nHow loans, contracts, and other transactions will be approved by the corporation\nProcedures for financial audits and how often they should occur\nInformation about the fiscal year\nProcedures for amending corporate bylaws\nYour corporate bylaws help keep structure within the business and are typically much more detailed than your articles of incorporation. These will help board members and shareholders stay accountable to the business. \nKeep a book of corporate records\nAs you incorporate your business, you should start keeping a “book” of corporate records. This is a record of all relevant documents for your corporation. This doesn’t need to be a physical book, but can (and probably should) be kept in your digital records for ease of access. \nItems to keep in your corporate records:\nArticles of incorporation\nCorporate bylaws\nMinutes of shareholder and board meetings\nAll stock transactions\nAnnual reports\nBusiness loan documents\nAny contracts the business enters into\nCommercial real estate transactions\nHold a board meeting\nOnce you have all of your records in place and have registered your corporation with your state, you are almost there! The last step is to hold your first board meeting to make everything official. \nAgenda for this first board meeting should include the following:\nBoard member formally adopt the bylaws and articles of incorporation\nA corporate seal is decided on\nIssue shares of stocks to initial shareholders\nElect your CEO, CFO, and other officers\nKeep a record of the minutes of this board meeting and all future board meetings. \nComplete any other state and federal requirements\nNo matter which type of corporation you are filing as, be sure you complete all state and federal requirements that apply to your business. Discuss these with your attorney. \nOnce this is done, your business is officially incorporated! This whole process can be completed within weeks if you enlist the right attorney and do your initial research to understand how everything works. 

How and when to incorporate your small business

In this article:\nAdvantages of starting a home-based business\nDisadvantages and caveats to having a business in your home\nThinking of leaving the rat race? Sick of hearing Taylor Swift on your office sound system? Want to spend more time at home with your family or significant other? You may be ready to start a home-based business.\nHowever, it’s not all beer and skittles, as our grandpappy used to say. There are significant and unique benefits, but there are a lot of potential downsides also.\nLets go over some things you should be aware of before you start a home-based business.\nWe’ll give you the bad news first:\nDisadvantages and caveats to starting a home-based business\nRestrictive local and federal laws and zoning regulations\nDepending on where you live and what type of business you’re thinking of starting, you may be subject to local or federal statutes.\nBe sure to consult your local zoning laws, chamber of commerce, city business organizations, federal regulations, and HOA bylaws to make sure it’s even legal to run a business out of your home.\nDifficulty separating work time from family time\nPeople who create home-based businesses may have a hard time keeping “home” and “work” time and resources separated.\nMany times, everything at home becomes subsumed in “the business” and this can cause a lot of friction with family or significant others.\nwife angry with busy husband working from home\nWork hard to maintain dedicated “work hours” and “work space” at home, and try to leave it all behind at the end of your workday.\nMore interruptions\nDepending on how “hands on” you are expected to be with your significant other, spouse, or kids, you may experience more interruptions to your workday when you have a home-based business. \nOf course, a brick-and-mortar shop can have a lot of interruptions as well, but an owner might consider them part of the cost of doing business.\nIt may help to take a similar approach at home and look at these interruptions to your concentration or tasks as part of the price you pay to receive all the benefits of working from home (and there are some great ones! See below).\nDifficulty getting funding \nInvestors, banks, and other purveyors of business capital may view home-based businesses as “less serious” than brick-and-mortar shops, and you might have a harder time justifying loans, cash flow advances, or other needed funding.\nbusiness loan form denied for home-based business\nThis is likely not a serious concern if you have a solid business plan and take your home-based business as seriously as you would a “real shop,” but it could potentially be a concern for some investors and you should be aware of it.\nKeeping accurate records is vital\nAre you organized? Can you maintain very accurate transactional, financial, and tax records? If not, don’t start a home-based business.\nExcellent financial records are essential for \nany\n business, but smaller businesses, particularly sole proprietors who work from home, face a higher risk of getting audited by the IRS, so it is crucial to keep impeccable records and all your receipts in an organized way. \nBusiness and personal expenses can be difficult to separate\nSince your business space and your domicile are now the same, this can create a headache when you face the need to keep your business and home expenses separate and distinct.\nBe ready to accurately estimate and record any use of personal space, vehicles, resources, utilities, etc. if you want to get the tax benefits of starting a home-based business (see the “tax deductions” section below).\nWarehousing or shipping concerns \nIf you sell products and have to worry about maintaining inventory and warehousing/shipping products, a home-based business can make things more difficult. \nIt is sometimes possible to find enough warehouse space at home, but this comes with a host of potential gotchas (local laws, pests, appropriate climate control and security, and angry spouses are just a few). \nGo deeper: Read our \ncomplete guide to fulfilling and shipping orders\n to learn more about some of these concerns and issues.\nPayment processing or accepting alternative payment methods\nSimilar to what you’d need for a brick-and-mortar business, you’ll need some way to take customers’ payments if you start a home-based business. \nSome holdouts still transact mostly by check, but for businesses that sell goods and services it’s pretty much table stakes to take credit and debit cards, which can add significant expense.\nBe sure to talk to your friendly processor representative or merchant service provider and see what kind of a deal they can cut you. Don’t pay for features you won’t need as a home-based business.\nNow that we’ve touched upon some of the potential downsides of starting a home-based business, let’s get to the good stuff.\nThinking about finding commercial space instead of starting a home-based business? Read our article on the \ntop things to consider before renting your first business space\n.\nAdvantages and benefits to a home-based business\nReduced business overhead\nIf you don’t have to pay for business premises, upkeep, or a commercial lease, you can drastically reduce your cost of doing business. \nSince you can share the utilities, maintenance, supplies, and mortgage expense with your primary domicile, and aren’t under any revenue-sharing obligations from a commercial lease, you can save huge… and don’t forget about your tax deductions. \nTax deductions for home-based businesses\nYou might be surprised to learn the tax benefits of having a home-based business.\nWhen you run your business out of your home, you can “write off”—or deduct from your taxable income—an amazing array of expenses, including all or part of your advertising costs, gifts for customers, business banking fees, business loan amortization and interest, “office expenses” and supplies, phone and internet lines, subscriptions to trade publications or newspapers, even a portion of your mortgage, mortgage insurance, homeowner’s insurance, maintenance, utilities, and HOA fees! \nHere’s a great article about all the various \nhome business tax deductions\n available to you.\nMore control of your business and personal environment\nBrick-and-mortar store owners have some say in how their store looks, feels, sells, and operates, but make no mistake, the commercial landlord and lease owner can be quite annoying and forceful in their demands regarding your facilities and finances. \nRead our article on \nhow much it costs to rent space for a small business\n to learn more.\nIn addition, retail customers have expectations about when you should be open, how your store should operate, what music you play (or don’t), what holidays you take off, etc.\nWhen your business operates out of your home, you make the call. \nAnd, you can structure your home workspace however you want. No more Backstreet Boys blasting from the office speakers (unless that’s your bag. You do you).\n\nWhen you’re free from the corporate nightmare of the open plan office or cube farms, when you’re free from noisy environments, smelly co-workers, annoying salesmen, and other distractions… you can make your home business work space a nirvana of creativity and productivity.\nWear what you want\nThis may not seem like a big deal to some people, but for others it can be incredibly freeing to not have to put on the restrictive, button-down corporate costume, strangling tie, powerskirt, or other stuffy, uncomfortable business attire.\nIf you find you work effectively rolling out of bed and working in your jammies and bunny slippers, go right ahead. (We suggest at least combing your hair and putting on a shirt for business video conference calls, though… don’t ask.)\nWork when you want\nHome-based businesses typically don’t have a string of customers stopping by who expect you to be “open” 12 hours a day, six days a week.\nIf you find you’re most productive late at night and prefer getting into a “groove” and working a marathon 14-hour stretch, there’s nothing to stop you (depending on family/relationship needs).\n3 a.m. brainstorm sessions? No prob. Want to dial it back or take some time off? If it’s financially feasible, go ahead. You make the call.\nIf you prefer to keep regular “business hours,” you can do that while still maintaining more flexibility for personal relationships. \nEasy commute!\nPeople who have worked in locales where the typical commute can average an hour (or two!) each way have expressed to us that they almost don’t know what to do with all the time they have when they start a home-based business.\nMore accessibility to family or significant others\nWhen you don’t have to commute or be at work at a certain time, you can be more flexible in your schedule and be there when your spouse, kids, or significant other need your attention.\n\nLive wherever you want \nThere may be some limitation to this depending on what type of business you run, but if you’re a one-person shop that produces products or services delivered via remote warehousing, drop shipping, or digital transmission, you can likely run your business from any location with a reliable internet connection or cell-phone signal.\nWant to live in a treehouse in Borneo? Make it happen, captain! Looking to \nstart your business in a small town\n? Go for it!\nMore time at home for what’s important… and for yourself\nWhen you don’t have to be “at work” to keep up appearances or conform to others’ expectations, you can take the time you need to meditate, cook, exercise, read, listen to music, or whatever else fills up your personal batteries. \nThis can mean you do better work and be more productive in addition to being happier and more personally fulfilled. And isn’t that why we work in the first place?

Advantages and disadvantages of starting a home-based business

In this article:\nMarket research questions to ask before starting your business\nQuestions to ask your target audience\nWhat questions to ask your current customers\nMarket research questions to ask about your competitors\nWhether you’ve been in the game for a while or you are just starting up, market research is an important part of any successful business. It helps you identify the best opportunities for gaining new customers and growing your business. \nBut where do you start? It can be difficult to know which questions are important to ask and what the answers to those questions might mean for your business. \nWe’ll guide you through the most important market research questions you should ask before starting your small business. \nWe’re going to break these questions up into four categories: \nGeneral\nTarget audience\nCurrent customers\nCompetitors\nLet’s get started! \nMarket research questions to ask yourself before starting your business\nIt’s always a good idea to narrow down your market before diving too deep into the nitty-gritty details. Asking general market research questions will help you do that. Ask these questions of your market to determine the potential reach that your business could have in your current market. \nHow big is our potential market?\nYou’ll want to know the potential that your business has for growth. A larger market generally means more opportunity. A market that is too small or narrow may not provide much room for growth. \nHowever, a narrow market doesn’t mean to avoid it altogether. You may just need to expand into multiple markets for better growth potential.  \nIs this market going to grow or shrink? How much?\nDetermine what the growth trends are for your market. A growing market, again, provides more opportunity. Research the trends and learn whether your market is growing or declining. \nTrends can change, so don’t get discouraged if things aren’t looking up. But be realistic about your income if you choose to enter a declining market. \nimage of people holding up a market growth arrow for small business research\n\nAre there other products/services similar to ours? What are they?\nIt’s good to know what else is out there. Look for products or services that are similar to your offerings and learn more about them so you can do it better. You don’t want consumers to think that you are simply ripping off something that already exists. \nWho are our primary competitors? What is their market share?\nYou need to know who your competitors will be and what share of the market they already own. If they completely dominate the market for your business offerings, it’s going to be much more difficult to enter as a newbie. \nLearn everything you can about your competitors (we’ll have some more questions on this below). \nIs there any significant market share available for us?\nFind out what the demand is for your prospective business offerings. Is there a growing demand and are consumers looking for other options? What share of the market could you potentially grab hold of?\nMarket research questions to ask your target audience\nLearning more about your target audience will help you determine who your ideal customers are and how you can best market to them. You need to learn what makes them tick and how you can solve their problems with your offerings. \nThese questions are a little more straightforward and don’t require additional explanation:\nHow old are they?\nWhere are they located?\nWhat is their income?\nWhat is their profession?\nWhat is their household size?\nWhat is their gender, age, race?\nWhat interests do they have?\nWhat do they need?\nWhat problems do they face each day?\nWhat objections will they have to your business?\nWhat does a typical day look like for them?\nWhat do they enjoy doing?\nWhere do they currently shop?\nHow do they like to make purchases?\nWhere do they spend most of their time?\nWhat media outlets are they using?\nattractive woman average customer for market research\n\nMarket research questions to ask your current customers\nIf you are in the research phase of a new potential business, you likely don’t have customers yet. But you’ll need to test out your offerings, so use those people to determine how your customers would respond to the following questions. \nDo you like the product/service?\nDid our offering solve a need for you?\nWhat did you like most about this product/service?\nWhat did you like least about it?\nHow does this offering fit into your daily workflow?\nHow would you rate your experience with our company?\nWould you recommend us to a friend?\nIf you don’t have existing customers or haven’t tested out your offerings yet, ask these questions to people who use similar products/services. \nwoman pressing virtual emojis during market customer research survey\n\nMarket research questions to ask about your competitors\nYou are going to want to know what you’re up against as you start your new venture. Get to know your competitors on a personal level and through the eyes of their customers. \nWho are your main competitors?\nWhere are they located?\nWhat are they doing well?\nWhat could they do better?\nWhat offerings do they have? Is it more or less than what you plan on offering?\nAre their offerings different from yours?\nWhat are their prices like? Can you compete with that?\nWhat benefits/value do they provide to their customers?\nWhat do their customers like about them?\nWhat potential companies could become competitors in the future?\nHow are they marketing to their customers?\nDo they have good or bad online reviews?\nWhat is their online visibility like?\nThese last couple of questions are key. Online marketing, reviews, and overall visibility in the search engines is something you need to think about as you start your new business. You don’t just have to compete to get customers to visit your physical storefront (if you have one) but also to get them to visit your digital storefront. 


Important market research questions to ask before starting a new business

In this article:\nWhat is freelancing or freelance work?\nBest freelance jobs for highest pay\nTop freelance jobs that anyone can do\nHow to get started in a freelance career\nFreelancing is growing in popularity, and the era of the “gig worker” has definitely begun. Whether this has been the result of the COVID-19 pandemic and the related adjustments to the workforce, freelancing has been around since before the local “handyman” became a thing. Freelancing and it generally gives those who do it extra money on the side of their full-time job or even is there full-time job and allows them the chance to manage their own schedule. \nOver the course of the coronavirus pandemic, the freelance industry shifted, and it now makes up about 36% of the U.S. workforce. Beyond that, 75% of freelancers who left an employer to do their freelance work full-time say they make the same or more than they did with their previous job. \nSeems compelling, right? Well, if you’re interested in getting into the freelance game, check out some of the best freelance work that you can do as you read on. \nWhat is freelancing or freelance work?\nFreelancing is when someone works for themselves instead of for another company. You’re basically self-employed and offering your services to others who need it. \nFreelancers can be categorized as independent contractors, temp workers with staffing agencies, gig workers, project-based workers, and even self-employed business owners. \nThe beauty of freelancing is that it’s very flexible too. It doesn’t have to be a full-time job (although it certainly can be). You could freelance to supplement your income from your full-time job, do multiple freelance jobs, or find enough customers that you can do your main freelancing job full-time. \nIf you just want to try freelance work for a little bit, find a job that you can do for a few hours a week and see how you like it. \nBest freelance jobs to earn the highest pay\nSome of the highest paying freelance jobs you can find are based on specific skillsets. If you have a specialized skill that you can offer to customers, then you may be set to start making good money for freelance work. \nCheck out these top high-paying freelance jobs. \nContract and corporate law\nIt’s no secret that attorneys and law clerks can make a lot of money. If you decide to take this on your own, you could work in corporate law or help companies develop contracts and work completely for yourself rather than through a firm. \nAverage pay: $75-85/hour\nBest places to find freelance lawyer jobs:\n\nhttps://www.lawclerk.legal/\n\n\nhttps://www.upwork.com/freelance-jobs/corporate-law/\n\n\nhttps://www.lawyerexchange.com/\n \nDigital marketing consultant\nMarketing is another industry that is very specialized and takes a lot of experience and knowledge to get the job done right. As a digital marketing consultant, you could take your industry knowledge of marketing and previous experience and translate that into helping companies better manage their digital marketing strategies. Consult on the areas you are strongest and provide best practices and methods for your clients to move forward with. \nAverage pay: $50/hour\nBest places to find digital marketing consultant jobs:\nJoin a digital marketing jobs group on Facebook\n\nhttps://www.upwork.com/freelance-jobs/digital-marketing/\n\nSearch engine marketer\nSEO (search engine optimization) is necessary for any business that wants to get found online. If you’re familiar with the ins and outs of Google and how to raise a website’s visibility, then you might try your hand at freelancing as a search engine marketer. \nAverage pay: $50/hour\nBest places to find freelance SEO jobs: \n\nhttps://www.freelancer.com/jobs/seo/\n\n\nhttps://www.upwork.com/freelance-jobs/seo/\n \nWeb designer or developer\nEvery business needs a website and new businesses are popping up every day. Put your web design and development skills to use to create beautiful websites for your customers. You could even seek out local businesses that need a little website help and pitch some low-cost websites to get started and build your portfolio. \nAverage pay: $45/hour\nBest places to find freelance web design jobs:\n\nhttps://dribbble.com/web-design-jobs\n\n\nhttps://www.fiverr.com/categories/graphics-design/website-design\n \nProgramming and software development\nIf you have great programming skills, you could start freelancing and develop mobile apps and software for businesses. This might be one of the highest paying freelance jobs because it requires such a specialized skill set and a lot of experience to do it well. Because the industry and needs for programming varies so greatly, so does the average pay. But great programmers can make upwards of $150-$200 per hour. \nBest places to find freelance programming jobs:\n\nhttps://www.freelancer.com/jobs/programming/\n\n\nhttps://www.upwork.com/freelance-jobs/application-programming/\n\nCareer coach\nAre you good at job interviews, writing resumes, and connecting others with job opportunities? You may have what it takes to make it as a freelance career coach. This is a job you could do one-on-one with individuals who are seeking career advice and trying to get a good job. You could also provide workshops, online courses, and partner with staffing agencies for seminars. \nAverage pay: $45/hour\nResources for becoming and marketing yourself as a career coach:\n\nhttps://www.readyresetgo.com/the-career-coach-accelerator\n\n\nhttps://www.linkedin.com/pulse/so-you-want-become-career-coach-heres-some-tips-help-harris-ms-cprw\n \nFinancial advisor\nA freelance job in finances could range from being a financial modeling expert, to a CPA, to a financial estate planning attorney. Focus on your area of expertise and find the customers that would value those skills. \nAverage pay: $62.50/hour\nBest places to find freelance finance jobs:\n\nhttps://paro.ai/experts/\n\n\nhttps://www.upwork.com/freelance-jobs/finance/\n  \nBusiness consultant\nBusiness consultants help businesses improve their performance and efficiency. Have you run your own businesses before or worked in auditing capacities that allow you to create solutions for businesses? Then this could be the right freelance job for you. \nAverage page: $60/hour\nBest places to find business consultant jobs:\n\nhttps://www.upwork.com/freelance-jobs/consulting/\n\n\nhttps://www.fiverr.com/categories/business/business-tips\n \nSpecialized writer, copywriter, technical writer\nTechnically this could have been placed in the number-one spot. If you are knowledgeable in just about any given topic, or know how to research and write well, then you could become a freelance writer and make good money doing it. Have you been working in a specialized industry for a while? Find businesses in that industry and write content for them. The pay range varies a lot depending on your experience and the industry you’re writing for, but experienced writers can make well over $100/hour. \nBest places to find freelance writing jobs:\nFind digital marketing groups on Facebook (digital marketing teams are always looking for skilled writers to help their marketing efforts for clients across various industries)\n\nhttps://www.upwork.com/freelance-jobs/writing/\n \nNote: The pay for any of these jobs can vary a lot. You may make well over the average or might not be able to get companies to pay you the average. It’s all in how you market yourself, what the market is like locally for your services, and what your customers’ needs are. \nBest freelance jobs that anyone can do\nYou don’t have to have years of experience, a degree, or even any special skills to make it as a freelancer. There are tons of jobs out there that anyone can do while providing the benefits of being your own boss and managing your own schedule. \nCheck out these freelance jobs:\nApp-based driver\nHave you ever wondered what it would be like to work for Uber or Doordash? As a driver for any of these app-based driving companies, you would be an independent contractor, setting your own hours and only working when you want to. It’s a great side gig to earn some extra cash, and if you really enjoy it you could even make it work full time. \nJust visit the website for the delivery/driving service that you want to work with in your and get started today. \nA few important tips:\nYou will need a working vehicle (in some cities you can even ride a bike) and a driver’s license\nYou must be 18 years or older\nYou’ll need to consent to a background check for most services\nVirtual assistant\nAs a virtual assistant, your job could vary between several different responsibilities, from data entry to customer support. Many business owners opt to hire freelancers for the simpler tasks that are difficult to keep up with on a daily basis. That’s where you come in. And if you do it well, you could be looking at a long-time career in the virtual assisting game, particularly if you get good experience and can land some larger clients. \nCheck out \nUpwork\n for some good beginner freelance jobs for virtual assistants. \nTranscribing services, transcription\nCan you type 60+ words a minute? Do you enjoy typing? Then you might be the perfect candidate for a freelance transcriber. There are tons of transcription services out there that are always hiring freelancers to help with their workload. A good freelance transcriber could make anywhere between $15 and $30 per hour. \nCheck out these sites that hire freelance transcribers:\n\nhttps://www.rev.com/freelancers\n\n\nhttps://www.transcribeme.com/jobs/\n \nWriting, editing, proofreading\nIf you know how to write and research well, then you could easily become a freelance writer. The more specialized and experienced you are, the more money you can make here, but anyone can become a freelance writer if they are good with grammar and putting sentences together. And the beauty of this is that businesses in all industries need writers. You can find a topic that interests you and start applying for jobs. \nResources for starting a freelance writing career:\n\nhttps://www.upwork.com/freelance-jobs/writing/\n \nHow to get started in a freelance career\nIf you are ready to dive into the world of freelance work, congratulations! We hope you enjoy it! Here are some helpful tips as you get started that will help you better define your services as a freelancer and start getting clients. \nChoose a niche. You can explore different areas of expertise in the beginning, but really nail down the industries that you enjoy working in and get a ton of experience to build up your repertoire in that area. Becoming the expert will make you a much more desirable candidate for new clients. \nDefine your services. As you can see, there are a ton of things you can do as a freelancer. But similarly to choosing a niche, you’ll want to define your services to those that you can really excel at. This is how you’ll make more money in the long run and get really good at what you do. \nKnow your ideal client. Become familiar with your ideal client. What problems do they need solved? What will your ideal client be willing/able to pay? Can they afford to hire you? Are there specific demographics that your ideal client meets? Knowing this will help you market yourself as a freelancer. \nStart marketing yourself as a freelancer. Use as many outlets as you can to start marketing yourself. Create a portfolio website that you can send to potential clients. Update your LinkedIn profile to show your experience as a freelancer and describe yourself in such a way that appeals to businesses that are hiring freelancers. Create profiles on freelancing sites like Upwork, Fiverr, and more. \nStart freelancing before quitting your day job. This is important so that you can really test out freelancing before diving all in. Find out if you like it and get some good gigs started before dropping your main source of income. Once you get more experience freelancing and can supplement your main income with it, then you’re ready to go all in. \nContinuing growing your skills and acquiring new clients. Keep up on your skills and the changes in your industry. Staying sharp will help you become the best in your field so that you can continue to grow your client base. \nSources:\n
\nhttps://www.upwork.com/i/freelance-forward\n
\nhttps://www.cnbc.com/2019/12/14/highest-paying-freelance-jobs-of-2020-where-you-earn-90000-or-more.html\n
\nhttps://freelancinghacks.com/highest-paying-freelance-jobs-earning-steady-income/\n
\nhttps://www.transcriptioncertificationinstitute.org/blog/transcriptionist-salary\n


13 best freelance jobs for 2022 (and tips to get started)

In this article:\nTest your idea\nUnderstand your market\nGet to know your customer\nEstablish funding\nStructure your business\nStart marketing\nAs you are getting ready to start your own business you’re going to have to wear a lot of different hats, and it’s not always going to be easy. But you’ve got this!\nJust to help you along the way, we’ve put together a list of six best practices to successfully launch your new small business. Keep these things in mind as you go about preparing your new business to give yourself the best chance at success. \nTest your idea\nBefore you ever start your business, you should test your business idea out on a smaller scale. What is the product or service that you want people to purchase?\nTest your idea out. See if people show interest in what you have to offer and if it even makes sense to move forward with it. Here are a few ideas to start testing your business idea:\nBuild a minimum viable product\nA minimum viable product (MVP) is the simplest form of your business idea that you can sell. During the testing process keeping it simple is critical in order to test, modify, and repeat. Show your target audience this MVP and get feedback to help you improve your idea before the real launch of your business. \nGet critiques\nTalk to other people in the industry, your family members, your friends, and potential customers about your idea. Get their honest opinions and show appreciation for any criticisms. \nYour idea is supposed to solve a real problem that people have. Find out if your target audience identifies with the problem that you think your idea will solve. \nYou can gain valuable feedback by presenting your idea to a potential customer in a real-world application. \nAdjust\nUse the critiques you get to adjust your idea and run it by even more people. Try to run your idea by at least 50 people (or more) and continue to adjust it until you and your harshest critics see a product or service that is ready to go to market. \nTry selling it \nBefore you launch your business in earnest, try selling your offerings on a limited basis. Are people even willing to pay the price that you want for your idea?\nIf things don’t go well during the testing process, that doesn’t mean you should give up. It just means you need to make changes and test it again. \nIsn’t it much better to figure those things out now than before you put all of your hard-earned money into it?\nUnderstand your market\nMarket research is important for any type of business that you may be launching. If you don’t understand the market that you are entering, you aren’t likely to succeed. \nSpend time talking to and researching others in the industry in your specific area. What are they doing well? What can you learn from their successes and failures?\nImportant questions to ask and understand during the market research process:\nHow large is your potential market?\nWill the market grow or shrink?\nHow can you expand your business as the market grows?\nCan you handle a growing market?\nWhat competition already exists in your target location and what share of the market do they own?\nWhat is the general public’s perception of your competitors?\nWhat sets you apart from competitors?\nWho is your ideal customer, and what do they want?\nWhat are the pain points of your ideal customer?\nWhy would people buy from you?\nWhat prices should you charge? What are competitors charging?\nWhat are your business goals and how will you reach them in this current market?\nGet to know your customer\nIn order to sell anything to anyone you have to know and understand who you are selling to. You need to know how to appeal to your target demographic. \nDuring the market research phase, you should uncover some important information about your target customer. \nInformation you should know about your target audience:\nAge\nGender\nEducation level\nProfession\nLocation of residence\nIncome level\nInterests\nWhat they do during free time\nMotivations\nBiggest challenges\nSpending/purchasing habits\nResearch habits (where do they go for information?)\nLearning these things about your customers will give you a better success rate of marketing and selling to those customers. You can’t just blast information about your business and expect to get qualified customers running to your store. \nhandwritten note profile of ideal customer for market research small business\nYou need to strategically plan for the type of customer you want and then appeal to the things that you know about them. \nEstablish funding\nYou can’t start a business without the proper funding. Even if you are able to work out of your home doing a service with equipment that you already own, you will need funding for marketing at the very least. \nThe more likely scenario is that you’ll need funding for a commercial space, capital to manufacturer a product or purchase equipment, and of course the money to start a good marketing campaign (including getting a website up). \nBeyond simply saving up the money you need to start your venture (also known as bootstrapping), here are a few ways to can acquire the necessary funding:\nBorrow from trusted friends and family. It’s not always ideal to be in debt to people you are close with, but if you are confident in your plan and are confident that you can pay them back quickly, then this isn’t a bad way to go. \nYou could always try crowdfunding. Crowdfunding is a way to let friends and friends of friends and all of their friends (and complete strangers) make their own contribution to your business. You’ve probably heard of GoFundMe, which is primarily meant for raising money for special life events and challenging circumstances. There are tons of platforms like this devoted to specifically helping small business owners like you get started.  \nTaking out a business loan is always an option if you have the credit score and collateral to back up the loan. \nGo deeper: \nGuide to small business loans: How to apply, best types, and tips\nStructure your business\nIt’s important to choose the right corporate structure for your small business. Do your research to find out if you should incorporate or if you should stick with a sole proprietorship until you see some significant growth. \nWe have a great guide that can help you learn more about sole proprietorship versus a corporation and what type of corporation is the best for your business. \nCheck it out here: \nHow and when to incorporate your small business\n\nStart marketing\nOnce you are satisfied with your business idea, you understand the market and your audience, and you’ve got the funding and structure in place, it’s time to get your name out there. \nIn this world of constant change and growing markets, it is imperative that you start a marketing campaign to help your business get found. \nThere are tons of ways that you can start your marketing, but the best place to start is the search engines and the places where your target audience spends most of their time. Are they big social media nuts or are they constantly on the road listening to the radio?\nCheck out these guides to get a good start to your marketing campaign:\n25 free local advertising ideas for small businesses\nLocal SEO: 15 free tips for better search rankings\n5 best DIY websites for small businesses on a budget\nLearn more: \n4 crucial steps to an effective small business marketing plan\n

15 articles found in “Incorporation”

How to decide what kind of small business you should start

How and when to incorporate your small business

Advantages and disadvantages of starting a home-based business

Important market research questions to ask before starting a new business

13 best freelance jobs for 2022 (and tips to get started)

6 best practices for successfully launching a small business

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