And I say this as someone who runs his own business. Not to say several.
Running and growing your own business is like a roller coaster ride – intense, emotional, with many highs and lows that you can rarely plan for and expect. And at the same time bewitching and addictive.
Running a business is a responsible endeavor and requires a lot of advance preparation and planning, though I believe it is the ability to improvise and be flexible that differentiates the businessman from the entrepreneur. What differentiates the businessman from the entrepreneur is the mindset – the businessman is analytical and numbers-oriented, while the entrepreneur is visionary and creates trends.
The businessman thinks in efficiency, while the entrepreneur in opportunities.Honestly at the end of the day it doesn’t really matter if you’re a businessman or an entrepreneur as long as you’re happy with what you’re doing. I don’t believe in the only right solutions and for me either one is perfectly OK and perfectly understandable as an approach. But anyone who is about to start their own business is important to be aware of their own management style and dynamics, because they are relevant to the development and growth of the business in the future.
Businessmen are balanced, bet on the safe and develop their company step. They usually finance everything themselves, which is why they handle smaller budgets and a more balanced market approach. They test and validate every idea before putting energy and passion into its development and pay great attention to detail.
The risk with businessmen is to miss the moment. Sometimes they tend to get so carried away with their own charisma, products and successes that they are apt to forget how the world keeps turning and change is a necessary part of the cycle. If you miss the moment, the moment the numbers show that things are not right, it may already be too late.
Entrepreneurs are risky players. For them, it’s all or nothing. Speed, scale and innovation are key, which is why they often seek venture funding and scale using debt and equity.
The risk with entrepreneurs is not to “over-salt the dish” as my grandmother used to say. Getting carried away with their vision and ideas and forgetting to look at their numbers and sales. After all, that’s the only metric their future investor and partner will care about. because it suits different worldviews and personalities. The reason I tell you about the difference between the “businessman” and the “entrepreneur” is the management style, financing and business development,
Here are some ideas for business
… that you haven’t read about on the web yet.
Accounting and tax consultant
With an increasing volume of people freelancing, more and more of them need accounting advice and help in preparing their annual tax return. Few accounting houses are keen on such one-off activities and advice, so they don’t advertise it as a service. To me it sounds like a business opportunity and a “unique competitive advantage”.
And another prism – more and more people in Bulgaria are retiring and most of them can neither manage the paperwork around this process nor have they paid regular contributions over the years, but are looking for a way to get a “more decent pension”. They would certainly appreciate the opportunity to get advice and personal attention.
Consultant in principle …. in all its variations
The service industry is one of the best if you want to start a business without a budget. The truth is that the competition is also brutal, but if you are good at what you do, you have nothing to worry about. Here are some ideas on what kind of consulting business you could start:
- Aromatherapy consultant;
- Consultant on healthy nutrition and diets;
- Lactation consultant;
- Sleep Consultant;
- (hypno)bird consultant;
- A consultant who designs fitness programs and healthy regimens… I would expand this to include individual yoga programs, weight training or self-propulsion workouts, as well as gender and age oriented. More and more people at older ages are interested in the opportunity to exercise and more and more people are suffering from “I don’t have time for sports”. Consider home workout programs and I believe you will be able to differentiate yourself in the marketplace.
- Business Consultant;
- Image consultant;
- Social media and communication consultant – more and more people understand the power and potential of social media but have neither the time nor the desire to maintain it, especially if they are in a leadership position (they don’t have the time) and it’s about their personal profile (they know it’s important);
- Marketing Consultant;
- Career Consultant;
- WordPress Consultant. Do you know how many thousands of times I’ve had to hire someone with technical expertise by the hour to help me fix some minor things on the site. Each time has been a hugeooooooo disappointment – so if you decide to throw yourself into this endeavor, email me directly.
- IT Support…. consultant I am writing this because again it is about consulting on the choice of hosting, on software that interact with each other and digitalize the business. All those technical things that remain hidden at first glance but can cost a lot of money. Very valuable people .. also n’t have found many who offer her this service.
- Family counselor and therapist;
- Financial Consultant. And I’m not just talking about the one who will give you savvy advice on what to do and what not to do with your money, but who will help you organize and optimize all your already open loans, prepare a recovery plan to improve your financial situation, stand by your side and give you a personalized solution.
If you haven’t watched the reality format How To Get Rich on Netflix – I recommend it, for inspiration.
Ghost-writer
If you love and can write, or have a degree in journalism, then you’ve certainly thought about the possibility of offering your services as a copywriter. The opportunity continues to be on the table as one option to start a business without any upfront investment, but let me suggest something else. Ghostwriting.
More and more people want to write a book. Electronic or physical, and ghostwriting service is still not popular in Bulgaria. Apart from the handful of enthusiasts who offer it on specialized Facebook groups for freelancers, I haven’t seen much competition on the market. So I recommend you consider it.
Photography and everything related …
For me, photography is one of the most meaningful hobbies one can have. It develops creativity, helps us see the details, teaches discipline.
Besides, with the mobile phones we carry in our pockets today, it doesn’t take any great investment to become a photographer. Forgive me all those who shoot with cameras for tens of thousands of leva, I do not put all photographers under one denominator. But I firmly believe that if you do product photography or landscape photography, there is no problem shooting that with your phone.
You’ll find dozens of penny courses on the web that will teach you how to get the most out of your phone. A few orders from Aliexpress, for 50lv. you will collect a wonderful decor, lighting and reflectors to start with.
Sale of stock photos and videos
The best thing about photography is that once you start shooting, you can’t stop. If that’s the case for you, you can consider upgrading your equipment and start making money from stock photography and video as well.
When my son turned 15 and decided he wanted to earn his own money, this was his first choice. To this day, he has no regrets because photography continues to bring him a passive income, although he has now replaced stock photography as a source of passes with 3D printing, but more on that later.
Take a look at Shutterstock, Adobe Stock Photos and anything else you can find with the keyword “stock images” and see what they have to offer. If you think you can do it – act.
To be successful in the business venture of stock photography and video, you have to have quantities. Don’t imagine that with two or three quality photos you will become a millionaire. You need to dedicate time and energy. But on the other hand, if you’re already shooting and loving it, you’d better find an extra use for all those shots that would otherwise sit anonymous in your computer folders.
If you haven’t read Chris Anderson’ s book “The Long Tail” – I recommend it. In it he talks about the Long Tail Theory, no wonder given the title. In general, his concept describes a strategy for selling a large number of unique products in relatively small quantities – usually in addition to selling less popular products in large quantities (product promotion).
My application of his theory is a little different – I’m always looking for a series of complementary income streams to the core business without it costing much or any extra effort, like if you’ve already chosen to start your own business as a photographer, why not make some extra money from stock photography.
(sort of) Influencer in social networks
If you’ve learned to use your phone well and have an eye for photos – whether you sell them online as stock photos or not, it might not be a bad idea to consider a career as an influencer.
Now you’re going to tell me “I’m not up for this job” or “neither am I”, however I’m going to stop you for a moment and ask you to consider the opportunity from a different perspective.
Influencers create content. Beautiful, quality, useful content. You can photograph yourself or your surroundings. Because I know there are few people who like to stand in front of and behind a camera at the same time.
One of my favourite influencers is called Dan Tom – he has a course at Domestika and does travel photography, he doesn’t shoot hair shampoos or what he eats for breakfast.
And if you say to me, yes, but the trip is expensive, I will counter you again. All over Europe there are very good offers and discounts for student train tickets, for young people between 16 and 25. If you fall in that range, don’t hesitate to use it at all. Personally, I’ve decided this will be my own son’s coming of age present – a summer where he gets to travel all over Europe by train to take photos, meet new people, experience the world in a completely new and different way before thinking about university and what he wants to do next with his life.
BONUS tip – if you love taking photos, you’ll probably do well with videos too, and they’re becoming more and more in demand and useful for indexing social media profiles and online sites, so don’t miss out on the opportunity to shoot video too. You’ll easily sell them afterwards.
Designer of showcases .. and not only
Design inspires, excites and makes one dream. I believe that the more dependent on technology we become as a society, the more attention we will pay to the experience we offer through design.. in stores and offices.
If offices and stores were until yesterday a space where we gather people and display goods for sale, today they are becoming a natural extension of brand identity and their organization, the scents, the colors, the light, the overall feeling they bring can raise or lower the cost of the brand.
In Bulgaria, unfortunately, not much attention is still paid to window displays and the aesthetic side of merchandising, which is definitely a market opportunity. It’s no coincidence that all the global brands are investing millions in their window displays and turning them into a “temptation” that entices you to take a peek inside the store.
Reseller – Popupco-selling domains
GoDaddy have turned this into an extremely lucrative business. We all know how annoying it is when you start a new business and it turns out that the domain is taken. How much would you pay to make it yours? You’d certainly think about it if you had the chance, wouldn’t you?
Domain traders tell them and promise to assist you, for the appropriate fee, to get the domain you dream of.
An irritating, very irritating business because it feels like arm twisting, but.. the truth is it requires no investment and will certainly find supporters.
[For SEO experts only] – Optimize websites to sell them
We both know the domain thing is a cool idea, but if you don’t work for a domain reseller, the likelihood of your business bringing in millions is slim to none, so here’s another idea.
If you understand SEO and you don’t mind writing, you can optimize so-called working websites on a competitive keyword and sell them ready to clients who are interested.
Trust me, real estate developers will kill themselves to buy a ready and optimized website and start selling. NOW.
No, don’t thank me, I know the idea is very very good. Stay tuned when you need to market your own business, this with the ideas is just the beginning of all I can do for your success.Virtual assistant
My favorite. Again inspired by my own search and again accompanied by great disappointments and dramas. It turns out that finding a virtual assistant is not an easy job.
Of particular importance for the success of this business and of any virtual assistant are proactivity, planning and problem solving skills, good language and spelling, the ability to work in a virtual environment and to make decisions.
Observing the trend of team virtualization, I believe virtual assistants will be a “must have” for every manager and busier small to medium business owner. So if you’re not intimidated by spelling and punctuation, consider trading in your Facebook posts for pennies and taking it to the next level by starting a business as a “virtual assistant.”
Business Developer a.ka Salesperson (for hire)
Good sales skills have been and will always be valued, so I won’t lie to you, if you know how to sell, you really can become rich.
I personally would never “tie myself down” to work for a company. There are some businesses where the time to think and decide is so long that one can close at least five more deals in the meantime. Especially if working in a virtual environment.
This is the time to remind you that the list contains “business ideas that you probably haven’t read about already on the internet”, so the approach I’m suggesting is a bit unconventional.
Out2Bound is the successful Bulgarian example that validates this idea. For many years, the company replaced the sales departments of IT companies in the field of software development, web development, mobile application development and SaaS, helping them to find customers. Today it operates under the American brand MarketStar, after the American company bought Out2Bound for several million (!).
MarketStar operates in over 60 countries across markets on several continents – North America (US and Canada), Latin America, Asia Pacific (APAC), Europe, Middle East and Africa (EMEA). There are over 1,600 MarketStar employees worldwide with offices in the U.S., Ireland, Philippines, Australia, Spain and Mexico. In 2019, MarketStar became part of the Wasatch Group.
So … Business Developer for Hire. Consider.
Fundraiser (for rent)
Fundraising is a profession that is also in high demand by both startups and nonprofits. To be good at it, you need three skills – to be able to speak/present in front of an audience, to have a wide network of contacts and to have no problems talking to/contacting someone who might be interested in your product and service.
I’ve rarely seen people who can do all three, unless they’re the CEO of a company or the president of a foundation. Either way, these people are terribly, terribly busy and they miss thousands of opportunities simply because they can’t be everywhere and they’re finding it harder and harder to find someone to take over the fundraising entirely.
Here’s a business opportunity for you. Aries gives you the opportunity to work with multiple clients, there is no geographical limit, there is a subscription option and if you work on a so called sucess fee, the money you can make is very, very good!
Paid parking
Another one of my favorite business opportunities, because I suspect that if a person somehow settled on a piece of land in the center of a major city and just fenced it off and put up a “Paid Parking” sign, they would probably make a lot more money on an annual basis than I could ever imagine.
Consider.
Car wash
Car washing may not seem like one of the most inspiring business activities at first glance, but the truth is that the service is in demand, offers a subscription option and requires low maintenance costs.
Private chauffeur
With the price of taxi services rising and given the abysmal quality of the service on offer, the option of hiring a private chauffeur – either hourly (subscription included) or on a monthly basis is an option worth considering.
I have a license, but I don’t like driving a car, despite having my own. For a very long time I only got around by taxi because it was easier not to think about car maintenance, paying for a zone, looking for a parking space. And all those inconveniences that one encounters if one lives in the centre of Sofia.
I’ve tried a million times to find a person to drive my car or even drive his own, but to work as my personal driver – I couldn’t find.
On the other hand, I absolutely refuse to get into a car that smells like a toilet, the driver is talking on the phone or even worse, texting on Viber while driving and the music that is playing in the car gives me a headache.
So today I travel by metro and complain that no one has thought to start this business.
Steering instructor .. but not exactly
Thematically, I’m continuing with cars, but anyone who has gotten a license recently knows how numbingly awful it can be to get in a car and have to drive it yourself.
The problem with extra hours and driving instructors is the car. No matter how many extra hours you take, if you keep driving your instructor’s car and not your own, you can’t relax and start to feel comfortable behind the wheel of your own car.
The second disadvantage is the route you ride. When you’re with an instructor, in the traditional case, you ride a route that is convenient for your instructor and that fits his or her hours for the day. This doesn’t help a novice driver who needs to get used to their route and feel confident that they know the road … especially given the lack of any signage on our roads, where you are expected to know and be able to do everything once you get behind the wheel.
If you like driving, become a driving instructor … but not exactly. You’ll ride in the seat next to the driver, it’s not necessary to inveterate in a car, and your role will be to help the young driver gain that confidence and experience they’re lacking.
Dog trainer
Aside from not requiring any initial investment, this business offers tremendous additional revenue streams from the sale of cosmetics, accessories and even pet food treats.
Pet owners are willing to invest impressive sums on their pets if they can provide them with peace of mind and comfort. Furthermore, rarely does the “normal person” devote enough time and attention to train their pet. At the same time, we all watch and click our tongues at videos in which the cat flushes the toilet and the dog wears its owner’s slippers.
The niche is free and very interesting, so it deserves attention.
Coach or psychotherapist .. of people
The approach of coaching and psychotherapy are diametrically opposed, but at their core they both aim at the same thing – improving a person’s mental health. The topic is becoming increasingly relevant given our busy lives, the effects of the digitalization of society and the rising divorce rate and the trauma that a divorce leaves on both the child of divorced parents and the two individuals in the couple.
The niche is highly competitive and saturated, but demand is also increasing.
Nanny and Babysitter
More and more people are unable to care for their elderly parents because they live in another city or outside the country. People are not necessarily ill or unable to care for themselves. Sometimes what they lack is just company. Someone to talk to about days gone by and the memories that keep them alive.
My grandmother shares with great sorrow that the scariest thing about old age is loneliness. And no, she doesn’t just mean her deceased husband, but all those friends she has lost because they are now deceased. When I ask her how she’s doing, she always tells me that she’s happiest when her phone rings because it will take her out of the monotony of everyday life.
Although nannies are a business that is already known and has some presence on the market, in an aging nation like Bulgaria and Europe in general, nannies are no less needed and in demand.
Business like “I’m gone, water my flowers”
What I love most about marketing and strategic business goal setting is the ability to be market led.
I have come up with some really cool and great stuff, but very often what I create as a product comes from market demand.
The easier and more affordable it is to travel the world, the more complicated home care becomes. This includes watering the flowers, walking the pets and general housekeeping.
As someone who spends at least ten days outside Bulgaria every month, let me describe how the preparation for each trip goes:
- I stock the fridge for the kid – may they be alive and well eBags that lug bags and bargain for me;
- I water the flowers – then ring every two days to remind him to water them and cross my fingers he hasn’t forgotten. In the summer these same flowers, in my case five pots with the fly, are dragged around to grandmas, aunts, neighbors and generally whoever tells me they won’t be traveling to watch them die;
- The dog is taken to a hotel – if there are places, which is a good scenario, but it takes about two hours to go drop him off and then pick him up. Apart from that it costs a decent amount each month.
Every time I go through this stress I dream of a person or company I can pay to take the dog out, water the flowers, confirm the child is okay, and know that I can focus on the work I set out to do with peace of mind and impunity.
I don’t believe it’s a business that can support you, but it does sound like a cool idea for an extra service or extra business if you live in one of the so-called wealthier areas of town and can do it among your other tasks.
Walk the dogs
Continuing the theme, but if you have a big dog that needs long walks twice a day and your head is buzzing from work, you would certainly pay someone to help.
Yeah, I know what you’re going to say – people with big dogs have thought of these things. Yeah but no. You can’t always plan long term how life will turn around for you in the prospect of five years after you buy a Retriever, for example.
Van for rent
Imagine you go to IKEA because you’ve decided to renovate, but you can’t get all the stuff you bought into the car. The cabs are small, and delivery will be in a few days.
The solution is to rent a van. Yes, but it won’t. Not in Bulgaria, not in Sofia. When my husband, who had lived in Belgium for many years, found this out, he was stunned. For him it was a super good but missed business opportunity.
Window cleaner
Shops are happy to pay for such a service. And most importantly, it offers a subscription service that enables revenue and occupancy forecasting.
“Travelling” chef
If you dream of owning your own restaurant, but don’t have the necessary investment to make it happen – why not consider the possibility of being a “travelling” chef and visiting people’s homes to organise private parties and events?
With the same effect, you can visit other restaurants. The secret to success –you need to invest serious time and energy in building your personal brand and your own menu that people know and associate you with.
The movie I can recommend for inspiration is on Netflix again and it’s called HUNGER 👇
Teacher or Instructor
Whether you choose to teach foreign languages, folk dancing, yoga or painting, if you take advantage of all the opportunities that modern online platforms give you, you’ll be able to travel the world and earn good enough money to support yourself.
My son’s German teacher has made it and says he would never go back to his old way of life. In the eight months we have known each other – virtually, he has swapped Bali, for India and is now in Vietnam. When I ask him “for how long”, he always replies “until the rains start”.
How to choose a business niche to start in?
Looking at all the ideas above just as ideas, at first glance they seem super and the truth is if I had the opportunity and time I would invest in all of them. But I don’t.
I used to believe that there was some secret to being able to clone myself and do anything I found interesting. Trust me, it doesn’t lead to anything good. So focus. Stop. Suck it up and think about what would make you happy?
Focus on your hobbies and talents
When you start a business, it’s important to think about those downfalls I mentioned to you at the beginning of this article. You’ll have a lot of successes, but.you’ll also have a lot of downfalls, so it’s important that before you choose how to spend 8 to 10 hours of your day, you choose an area that interests and excites you.
Choose a business that reflects you and your talents, not one that sounds good and others already do.
Think about work-life balance
Although in our youth we tend to neglect ourselves, our health, our developers and our family for the sake of work and success – in the long run, these are the resources that give us the drive to forge ahead and keep going despite the challenges.
Don’t ignore them and don’t underestimate them.
Test and train your idea
Remember that on paper they sometimes look super, but in real life there can be a mismatch.
In addition, in business there is cyclicality, seasonality, big players emerge that change the rules of the game or something exclusive happens – like war, the COVID pandemic, in recent years we have seen force majeure circumstances that distort the way we study the market.
Before you dive head first into doing business – try your approach, try your channels, try your prices. See if people want to buy your service and at what price? Is the revenue you’ll get what you expect and need?
If you ask me – try including if you like it.
For this – make a sepla ad on Facebook, put a price for the service and advertise it sq next two weeks. Imagine that you already have the business and the service you are selling, even though you haven’t invested a single buck in it yet and you won’t have done anything.
Don’t worry, this is your lead generation campaign. As long as you haven’t taken any (potential) customer’s money, you won’t have actually lied to anyone.
I’m even offering you something even better – call me. My mission is to help people fulfill their dreams and businesses and make their ideas a reality. If you book an appointment with me, you’ll get 30 minutes completely free consultation about your business and your business idea.I recommend that you prepare questions in advance for us to comment on and make an appointment right away – my offer is time-limited.
Ivelina Atanasova – Genchev
Marketing Director for Hire
Business strategy
Strategic targeting for business development, both for the local market and for external markets.
External and new markets
Developing an operational marketing strategy, product portfolio and communication approach when entering new and external markets for the business.
Growth Marketing
Build sales funnels and operational management procedures for the company’s marketing team.
Training and coaching
Individual and online training of leadership teams based on the author’s methodology of “Business Clinic”®️ and the program “Successful Business for 108 Days”.
