Are you interested in starting an online business but not sure what to start a business in? Even the most dedicated and strong willed women entrepreneurs can find it difficult to find the right business idea. Sometimes, women entrepreneurs have too many ideas, and they are unable to execute them. Sometimes, the ideas are too vague that many don’t have the opportunity to explore them.
Are you an ambitious and career oriented woman who is ready to become your own boss? Are you ready to finally become a female entrepreneur in 2021 and launch your business? If so, then it’s time for you to find your perfect idea before investing time and money. This will ensure that you can properly execute and reap profits in the long run.
How to Hatch the Right Business Ideas for Women Entrepreneurs
Here are a few questions to help you think about what business idea is right for you.
1) What is your business goal?
Why do you want to be an entrepreneur? Are you thinking about quitting your job and setting up a business to earn your bread and butter? Maybe you want to help your family and think that in the long run this is a great option. You are ready to stop worrying about your finances and know that your family expenses will be taken care of.
2) Is there something that you are exceptionally good at?
Setting up a business is not an easy task. It requires time, money, knowledge, dedication, and should be your true passion. Having a business that you are passionate about means that the good days will outweigh the bad. Plus, if you are passionate about something it means you are more likely to be knowledgable on that subject, something that makes running your own business a bit easier.
3) Do you consider yourself to be a savvy businesswoman?
Having a strong desire to be an entrepreneur and being a savvy businesswoman will help you on the road to becoming a successful entrepreneur. You might have a great skill, but unless you know how to promote it, sell it, and advocate for it, your business will be slow on the path of success. Remember, anyone has the ability to become a savvy businesswoman. You just need to put your mind to it.
4) How much money are you able to invest when setting up and running your business?
Thinking about what kind of business you want to run can help you determine how you are going to invest in it. If you want to have little to no investment, then an online business venture might be a good option. Not only does it have other great benefits such as being able to work remotely, but it allows for you to save money on overhead costs such as office space. Of course, this isn’t the case if you are looking at manufacturing a product or needing space to run your business.
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Here are 9 Lucrative Online Business Ideas for Women in 2021
1) Blogging
Blogging is a great way to increase your online business sales, credibility, and leads. There are tons of easy to use websites which allow people to publish articles. Some current popular blogs are on topics such as; food, budgeting, traveling, home school, minimalistic living, child care, beauty, and so on. As you increase your traffic on your website, the more companies like Google will start to notice you. This means, you can start making a profit through Google Ads, affiliate marketing, sponsored posts, etc.
2) Freelancing
If you want to still work with clients yet still be your own boss, freelancing is a great way to accomplish that! By Utilizing freelancing websites, you can have access to hundreds of thousands of clients requesting similar services.
3) Financial Coaching
If you are good at saving money or living a debt free life, you could think about becoming a financial coach and sharing simple tips to managing your credit cards wisely. You can also think about selling e-books or have coaching sessions online.
4) Becoming an Amazon Seller
One great thing about Amazon is that it seems to continue to be an online sellers dream. Even during a pandemic, Amazon sellers continued to generate income as people continued to relay on their products and services. It is easy to open an online store on Amazon and they have made selling on their platform a breeze. But Amazon isn’t the only option. There is also Shopify and Etsy just to name a few more.
5) Become an Online Tutor
Online tutoring is a great way to earn money while sharing your knowledge. You can join any online tutoring website and start helping students on subjects you are comfortable with.
The more students you acquire, the greater your earning potential is. Another option is to sell study materials. By developing online courses, you can spread these to anyone anywhere!
6) Be a Virtual Assistant
VAs are the lifeline of many business owners. They can be specialized people based around Marketing, Finance, Law, etc or can help with administrative tasks. By becoming one, you not only get to help someone in need, but also can earn a living doing something you are specialized in.
7) Bookkeeping
If you are highly skilled at math, then you should consider bookkeeping. It is a great way to increase your skill set while being online. You can get the same workload from a regular 9 to 5 job but still get to be your own boss.
8) Develop Apps
Developing apps is a great way to learn more about coding and develop helpful applications. You will have the ability to think and create apps that help other entrepreneurs, or that become daily habits for others.
9) Graphic Design
If you currently do a lot with graphic designing, have you considered creating your own business? There are so many people looking for skilled logo creators, social media graphics, website designers, and so on. It is also an ever changing field and could be a great jumping off point!
These are just a few of the many options for women entrepreneurs to do online. I know there are probably many areas I have missed so please feel free to share your ideas! It’s time for you to become your own boss!
Linda Richardson
Financial Writer
Linda Richardson is a New Jersey-based financial writer and a perennial student with an ongoing interest in learning new things. She uses her curiosity, connected with her knowledge as a financial expert, to write about a valuable lesson for small businesses.
