As part of developing your business plan, you can validate the concept for a business that you’ve come up with by doing market research. Check out the local area. Is there a market for what you will offer?
At the same time, you will learn how to price your products or services and position them in the marketplace.
The SBA says a good business plan will guide you through each stage of starting a business and managing it. Adding, it is a way for you to think through the key elements of your business. With your plan in hand, you will have a roadmap to structure, run, and grow your new business.
The Business Plan
The SBA recommends for a business plan to have the following:
- Executive summary
- Company description
- Market analysis
- Organization and management
- Service or product line
- Marketing and sales
- Funding request
- Financial projections
Even though there are only nine topics, you don’t have to use all of them and you can expand on each one to address the specific needs of your business.
No matter how many of them you choose, before you get started you will have to research, research, research. The more information you have, the better your plan will be; even if it is a small business plan. Once you have a full understanding of your company, product, competition, and market, you can write and speak about it to anyone.
With all this information on hand, briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company’s leadership team, employees, and location.
If you plan to ask for financing to start a business, you should also include financial information and high-level growth plans.
Planning your exit strategy when you first start your business is one way to keep you honest when it comes to keeping your goal. While every entrepreneur will have their own end goals when they start a business, consider the following when you are creating your exit strategy.
How long you plan to run or be part of the business along with financial goals? Beyond that, you should also plan on liquidation, compensating investors or creditors and taking care of your employees. The goal is to be ready for when the time comes by continuously adjusting your exit strategy based on the growth of your business.
5. Establish Your Offerings
Whether it is a product or service, when you start a business you want to establish your offerings in the best way possible. And if you start out offering what you do best, it will be much easier to deliver consistently while you grow.
Offering what you do best lets you build a solid marketing message, define your target market, and establish your brand as a leader in the field.
This however doesn’t mean you have to be an expert in any given field. If you don’t have the expertise, you can hire consultants to find the right products, vendors, suppliers, and service providers.
When you do, take the time to think about what you will be offering your customers. You have to be clear on exactly what you are offering and what it will cost you.
The product mix width, depth, length, and consistency your business provides will determine your overall offerings.
- Width – This is the total number of product lines your business will offer to sell.
- Depth – The number of versions offered of each product in the line
- Length – This is the total number of products within your company’s product line.
- Consistency – The close relationship between the different product lines.
Analyzing the Viability
When you choose your offering, make sure to analyze its viability. Is it practical to sell it? Look at the challenges such as support services. Is it fragile (breaks easily)? Does the product have a lifespan (spoil)?
Similarly, take the seasons into consideration. Whether it is food, clothes, or decorations, look into how winter and/or summer and the rest of the year will play a role.
Beyond the items and services you sell, you also have to offer intangibles your customers will appreciate:
- Great customer service – Memorable customer service is one of the biggest differentiators for businesses.
- A guarantee – This is especially important when you first start a business. A quick way your customers will know you is by guaranteeing your work.
- Samples – You may not always be able to offer samples, but if you can by all means do it. It will show the confidence you have in your product.
- Free shipping/return – With eCommerce now part of most businesses, try to offer free or low-cost shipping/return.
Be Honest About Your Offering
Whether you make or buy the products you sell, if it has a shortcoming in a particular use case, let the customer know about it. Let them know it might not be right for them.
This simple act will be enough for them to remember you when they need something you have in the future.
6. Secure a Business Name
Check the name for availability in the Secretary of State database for your state. Make sure to also check the Federal trademark site. Do a simple Google search to see whether your proposed business name is in use. And search for the associated domain name. If the domain name is taken, it’s going to be a lot harder to brand and promote your business.
It’s a good idea to also check for and reserve key social media profiles at this point. Even if you are not ready to start a social media push, at least you have the name available.
Think of any major brand name and you know what they do. That is why they relentlessly protect their name. And when you come up with the name of your business, you should do the same.
Choose the Name
There are many different factors that go into picking a great business name. From the kind of business you do to something completely off the beaten path, the choice is yours. However, you should take some things into consideration.
Try to distinguish yourself from your competition by being distinctive and memorable. If the name can suggest the products and services you provide, it is a plus.
The next thing is to avoid making it too hard to spell. This is especially important today because you don’t want customers getting confused when they try to find your name online.
Last but not least, test the name around and see how people respond to it. From the way it is spelled to how it sounds, all these factors play a big role in how customers respond to a brand.
Check for Availability
With the name in hand, you can start a preliminary search on Google, the Secretary of State database for your state, and the U.S. Patent and Trademark Office (USPTO) site. A no-conflict, free trademark search will let you see if the name is available in all 50 states.
If you don’t find the name, you can go to your local county clerk’s office and file a “Doing Business As” (DBA) or a “Fictitious Business Name” (FBN). The DBA and FBN protect against name theft and it lets people know who actually owns the business.
Depending on the county regulations, you might have to publish the DBA and FBN announcements in the local classified section of the newspaper.
If you are using your own legal name (John Doe) for your business, you don’t have to register a business name.
In addition to the actual business name, make sure to check for the domain name. If it is available, buy it right away. This includes other web address extensions in addition to “.com” such as “.co,” “.net,” “.biz,” “.info” and others.
This also goes for any social media handles. Even if you are not ready to start a social media push, at least have the name available.
Register Your Business Name as a Trademark
When you first start a business, there is no telling how much your business will grow. But even if it doesn’t, registering your business name as a trademark will protect it from any future misunderstanding.
Filing state and federal trademark protection makes it that much easier to defend your name against any potential infringers. Because eCommerce can make even the smallest of business a global enterprise, a trademark offers protection.
Once you apply for a trademark and it is accepted, add the “TM” (trademark) notification in your business communications. When your business name appears in print or website add the “TM” in superscript type. After your trademark application is approved, change the “TM” to a capital R in a circle.
Continue to Protect Your Name
Intellectual theft and copyright infringement are huge global problems. Once you have gone through the process of protecting your brand, you have to stay vigilant.
Keep track of all expiration dates on all registrations. If you don’t renew them, another entrepreneur can use your business name.
7. Pick a Business Structure
What is the right business structure for you? The structure you choose will have a great bearing on taxes, financing, compensation, and insurance. Not to mention the risk and liabilities of your personal assets. Therefore, choosing the right structure is critically important before you start a business.
Another point to remember when choosing your structure is the variations from state to state. Make sure to find out how the different structures are applied in your state to protect yourself from legal and tax liabilities.
Based on your startup business, you need to find out:
- Your financing needs and options.
- How you want to pay taxes.
- The kind of liability protection you need.
- What kind of administrative complexity can you handle?
This is the simplest business structure. The profits and debts of a sole proprietorship company are the responsibility of one person. As such, the owner is personally liable for any debts.
This means creditors can come after your personal property and savings and you are personally liable for any lawsuits brought against the business.
A sole proprietorship is easy to set up, low cost and has an easy exit. When it comes to taxes, all you need to do is to keep track of all the business’ income and expenses. At tax time, just report it on a Schedule C with your personal tax return.
“Doing Business As” (DBA) or a “Fictitious Business Name” (FBN) registration is not technically a legal structure. It allows you to conduct business under a name other than your own.
The DBA or FBN is different from your name as the business owner, or your business’s legal, registered name. A DBA for FBN is a public record showing the people behind a business.
Although a DBA is more common among sole proprietors, LLCs, corporations, and partnerships can all file to get a DBA.
States have different DBA requirements, so make sure you comply.
Limited Liability Company (LLC)
An LLC is a cross structure combining the best features of partnerships and S Corps. It provides owners, called members, with the liability protection of corporations while allowing earnings and losses to pass through to the owners as income on their personal tax returns.
Single or multiple members can be part of an LLC and the profits and losses don’t have to be divided among members equally. A single-member LLC can be taxed as a corporation or an individual using the Schedule C form. A multi-member LLC on the other hand is taxed as a partnership with the K-1 form.
A corporation is an entity that is separate from its owners with its own legal rights. A corporation can sue, be sued, own and sell property, and sell the rights of ownership in the form of stocks. It is independent of its owners.
There are several types of corporations:
- C corporations – Owned by shareholders, they allow an unlimited number of investors and are taxed as separate entities.
- S corporations – Are designed for small businesses to avoid double taxation. It doesn’t file its own taxes and profits are passed through and reported on the personal income tax return of the shareholders.
- An S corporation has employment and profit taxation rules as well as strict ownership laws.
- B corporations – Are for-profit entities structured to make a positive impact on society. They are also known as benefit corporations.
- Closed corporations – These are not publicly traded companies and they benefit from limited liability protection. Compared to publicly traded companies, they have more flexibility.
- Open corporations – Are traded on a public market by allowing anyone to invest in them.
- Nonprofit corporations – Are formed to serve the public good and they have tax exemptions to help with that goal.
A partnership is an unincorporated business owned by multiple people or other businesses. The profits in partnerships are divided among owners and it is reported on their tax returns.
Some of the different types of partnerships are general partnerships, limited partnerships, limited liability partnerships (LLPs), and limited liability limited partnerships (LLLPs).
If your business goes beyond a sole proprietorship, make sure you are fully aware of your liabilities. Find qualified experts to guide you while you are on your way to start a perfect business.
Want to learn more? Take our business structure quiz to learn what kind of business organization is right for you.
8. Get Legal!
The legal requirements of running a business can seem a bit daunting, but with proper planning and the right legal guidance, they don’t have to be. Getting all of the legalese out of the way before you open will ensure restrictions won’t be placed on your business operations.
When it comes to starting a business, there are a number of legal issues you have to address. The industry and state you are in will determine the legal implications of your business. So, get in touch with the proper authorities to find out what they are.
Financial regulations, tax obligations, and employment laws are some of the requirements you will have to address.
Small Business Requirements
1. The first matter you have to address is the business structure of your business. By identifying the structure, you can then tackle the issues of that business model. Whether you choose sole proprietorship or form an LLC, they have their advantages and disadvantages.
2. Choose a name for your business and make sure it is available for you to use legally.
3. Register a fictitious business name or DBA and file for trademark protection.
4. If you have partners (even if they are family members), create a detailed agreement in writing and have all interested parties sign it. There is potential for things to go wrong, but a business agreement lets everyone know where they stand.
5. Check the Secretary of State office for requirements specific to your state along with any regulatory compliances. This includes local, state, and federal regulations.
6. Find out the necessary business licenses and permits for your business type. Operation license, health department permits, occupational or professional licenses, zoning, and land use permits, and sales tax licenses are just some of the requirements.
There are also industries that require additional licenses and permissions from local, state, and federal governments. This can include liquor and firearm licenses, permits from the fire department, environmental licenses and permits, seller’s licenses, and others. These permits and licenses are a must, so make sure you are certified before your open your doors.
7. Get a Federal Tax Identification Number, also referred to as an Employer Identification Number (EIN). This is a number the IRS uses for the transactions of your business.
8. Open a business bank account and start building your business credit. If you show the account has a sufficient cash flow capable of taking on a business loan, your business credit will grow.
With a business bank account, you can simplify your tax preparation and bookkeeping, make incorporation easier, and separate business and personal expenses. At the end of the day, a business bank account makes your business more professional. This will put investors, customers, vendors, and partners more at ease when they do business with you.
9. Classify your workers properly because the tax liabilities are decidedly different. This is especially important in today’s gig economy where independent contractors make up an increasingly larger percentage of the workforce.
10. Buy worker’s compensation insurance. State laws vary, so make sure to check what your state requires.
Another point worth mentioning is the deductions the IRS offers if you work from home. There are home office tax deductions such as $5 per square foot of your home if the workspace is 300-square-feet or less. And you can claim the deduction whether you are a homeowner or renter. The Standard and Simplified options offer different methods of taking a deduction.
These days you can find out virtually everything there is to know about your legal requirement for starting a business online. And you can take care of some of these items yourself. However, there might be issues only an expert can answer.
This is why it is a great idea to consult a professional for advice. A lawyer and an accountant can make sure your legal and financial obligations are covered before opening for business.
Having competent legal counsel and an accountant is invaluable.
9. Set Up a Location – Virtual or In Person
A business location can now be established in the digital or physical world. And while you don’t have to have a physical location if you start out with a digital presence, having a digital presence is extremely important if you start a business with a brick and mortar (in-person) location.
When it comes to a physical location, there is a lot riding on your decision. This is because the location will give your business the best chance to succeed when you start out.
Take your time and research the location thoroughly. This includes visiting the site on different days and times to check out foot and vehicle traffic, parking, lighting, delivery access, handicap access, neighboring businesses, and other requirements your business might need.
The Brick and Mortar Location
It all starts by deciding whether you want to lease or buy your commercial property. There are tax implications for the decision you make, so consult your legal and financial advisors to make the best decision.
If you plan on leasing, go through the agreement thoroughly and make sure you understand it fully before you sign the contract. There are many clauses in lease agreements. If you don’t have the expertise, seek legal advice before you sign. You can avoid expensive mistakes that can cost you and your business.
Choose the Right Space
The location you choose should address some, most, or even all the needs of your business.
- Is the price affordable?
- Is the location known for the products and services you offer and does it complement your business?
- Are there suppliers and distributors for your industry close by?
- Is the area a business hub the city is pushing with future growth opportunities?
- Is there any future development planned in the area or region?
- Does the location have a good reputation?
- Is it secure? What is the crime rate?
- What is the skill base in the area?
The infrastructure of a space is just as important for your business as the location. The communication, electricity, air conditioning, plumbing, parking, and how modular the space is will determine the day-to-day operation of your business.
If your business consumes a lot of power, find out from the landlord about the loads the circuits can handle. A business with sensitive equipment (servers) and perishable items (medication and food) will need generators in the event of a power outage.
Ask how many hours of power/air conditioning are included in the lease in the event of a power outage. If you need more hours, negotiate for more time.
The zoning laws of the city you plan to open your business in will determine if you can open in a particular location.
Is it legally acceptable to do what you plan on doing? If the zoning board doesn’t give you permission, you will have to find another location.
There are many regulations, so make sure to know what you must abide by. As an example, not having enough parking space could be enough to deny you a permit by the city planning and zoning board.
Once you have your space and it is approved for your business, it is time to assemble the necessary furniture, equipment, lighting, signage, and more. You can either lease, lease to buy, or outright buy the equipment.
By the way, they don’t have to be new either. There are many used options available in the marketplace
Consider a Virtual Location
While it is much easier to establish a virtual location, there are many more options when it comes to choosing platforms.
After you create your website and social media channels, you can look into other outposts for your online presence.
You can operate from your website alone or a marketplace such as Amazon, Etsy, Upwork, Fiverr, or many others. Each company has its own rules so find out what they are and read the fine print before you agree to the terms.
10. Plan Your Marketing
The amount of data available in today’s digital ecosystem makes it easier to develop a strong marketing strategy. However, challenges remain. For example, during your marketing planning stage, you will have access to a lot of information. This is the easy part. The hard part is using this information to create a marketing plan for engaging with your customers, competing with your rivals, and at the same time growing your business.
Initially, when you start a business, the marketing will include branding. This includes logo, colors, packaging, store signage, even business cards — though the digital business card is becoming more of a standard. Although they will continue to play a role, once you make up your mind about them, they will stay the same for some time.
When choosing your brand’s logo, fonts, and colors, take the time to identify how they communicate your brand. The psychology of colors plays an important role in brands. Whether it is on your permanent packaging or ads, choose them wisely.
Don’t forget, rebranding is part of a good marketing strategy. Keep track of the colors, fonts, logos, and other media that worked for you because they are all part of learning how to make a business work.
Beyond the branding of your business, the marketing strategy now moves to the research and advertising phase. The research will cover a wide range of information, but it is key to fully optimizing your marketing efforts. And again, this will require asking some good questions and getting honest answers.
You will need to ask questions about your market situation regarding your products or services, the value of your market size, the geographic area you cover, audience (such as demographics, income levels, population, etc.), and competitors in your market.
The answers to these questions will in turn lead you to create a marketing plan capable of addressing these very points for a more targeted reach.
In today’s digital world, your marketing efforts will include websites, social media, blogs, vlogs, SEO, PPC, and additional tools and solutions. These technologies help a startup business owner with limited resources to compete.
You can also use emails, eBooks, case studies, testimonials, white papers, infographics, and newsletters to market the product or service provided by your business or brand.
Don’t know where to start? Try our one-page marketing plan.
11. Establish Operational Readiness
You have a great concept, and by now you have done everything to lay the groundwork for your company. The legal structure, physical location, and regulations have all been handled. Now it’s time to establish operational readiness and start running the company.
The operation of your business is the process in which you buy, build and prepare the products or services you intend to sell. So, establishing operational readiness means sourcing materials, hiring, acquiring equipment, and selling the finished goods. And depending on your business (manufacturer, retailer, or service firm) your needs will differ.
The key is to establish a basic operation process for your company. Whether it is a product or service-based business, it will have to deal with the production process, sales, fulfillment, inventory management, and billing. Even if you buy the product or service you sell, these processes apply.
Pay particular attention to having a sales structure in place. Depending on the type of business and your resources, this might mean hiring one or more salespeople or ensuring that you will have time to sell.
No matter what your business does, it has to produce the end product. A business operations checklist will ensure you meet your production goals. A simple production process looks at the availability of raw materials, equipment, and production quality monitoring.
You can add more steps to address the needs of your production.
Having industry standards to produce your product or deliver your service will ensure high quality. High production standards can give you a competitive edge. An optimized production standard can also improve production, efficiency, and better use of raw materials and inventory.
Once the product is in hand, create a process to deliver quality to your customers. This includes:
- Establishing a process for taking, processing, and delivering the product,
- Designating a person responsible for processing the order,
- Making sure orders are being processed properly to the right customer,
- Gauging the time it takes to deliver the product,
- Having a process to monitor customer satisfaction.
Inventory management is key to ensure production doesn’t stop and you don’t run out of your end product. This demands an inventory control procedure with a designated person to physically take inventory on a regular basis.
At the same time, you should establish a minimum level of inventory and a process to monitor inventory management quality.
Billing and Collection Process
With production and inventory fully developed, the next step is to have a billing and collection process to keep your business running smoothly.
In today’s digital ecosystem, you can implement solutions to monitor all of the above processes under one umbrella. Finding a single platform will help you avoid compatibility issues and bring all of your operations together seamlessly.
Zoho One is an all-inclusive suite of products requiring only one monthly fee for over 40 apps. Every app is available when you need it, but you don’t have to spend the time deploying everything and risk getting distracted from the launch of your business.
It’s easy to go on a buying spree. Everyone wants to sell something to startups. However, this is not the time to be spending. Set up the bare minimum you need at this point to generate sales and keep track of expenses. Get business done. The rest can wait until you actually need it.
The vast majority of small businesses in the United States and in many other countries are single-person businesses. In the U.S., sole proprietorships represent around 23 million people and 73% of the 30+ million small businesses in the country. This means there is a big chance you might be going at it alone.
If you are not, finding the right employees is critical to run and grow your business. Establishing a strong hiring practice for employees with comprehensive checks will protect your business.
When looking for employees, find people who are looking for second chances. They are eager to work and they want to grow. If salary cost is an issue, make use of freelancers and consultants to minimize expenses during your startup phase.
12. Launch Your Business, Promote and Sell!
After all the diligent work, it is time for the big day, the launch and grand opening of your business. This is the culmination of weeks, months, or even years of dreams and effort. You can have a grand opening with a ceremony, an open house, a sale, or something uniquely original related to your business.
There are several ways you can introduce your business to the world and this will greatly depend on whether it is a brick and mortar outlet or online. But before the big day, you have to promote your business.
The promotion of your business has to start the moment you begin your journey. Today this means getting your website and social media channels up with “Coming Soon” listings and progress information. The very process of starting your business can be a promotional tool on a vlog as well as other channels.
The goal is to create brand awareness, customer buzz and establish relationships early.
Continue to update your audience to build interest in your progress. Create an email campaign and include an opt-in with “keep me up to date” prompts.
When you finally have a date for an opening, make sure to put it on your site with additional contact information. This includes business hours, location, phone number, email, chat, and any other point of contact. Go over the information on Google Maps, Yelp, and other listings to make sure there are no mistakes.
When you are ready, you can have a soft or a grand opening. While a soft opening is a great idea for restaurants, you can do it for any business.
A soft opening is an invite-only event designed to create a buzz in the community with a trial run of your operation. This is a good time to support and partner with your favorite charity or neighboring businesses, invite local press, and iron out any kinks before the grand opening.
Post images and videos of the soft opening on your site and social media channels to create more buzz with your followers.
By the time the grand opening rolls around (usually a week after the soft opening), you are ready to run your business. Use any promotion from the soft opening to invite local radio stations and other media for the grand opening.
You can celebrate with entertainment, giveaways, special promotions, and discounted prices.
If you are going to start your business online, you can implement many of the same steps until your launch. The key is to stay engaged with your audience through social media and have promotional events for the big day.
Promote your site with ads on related social media channels along with the pages of vloggers and influencers in your niche. Another way you can attract more people is by offering free membership, free shipping, and discounted items.
Congratulations, you are open for business. Now, get out there and sell some things!
How to Start a Small Business: Are the Steps the Same?
Starting a small business has many of the same steps and processes as starting other types of businesses. The difference is the size, which presents some benefits and challenges to entrepreneurs.
When it comes to the most important aspect of starting a small business, it has to be funding. This might not be the case for everyone. However, for those looking for funding, the process can be more difficult. The good news is the SBA has grants and loans and other lenders also provide many options to give first-time entrepreneurs the opportunity they need.
As far as differences, business structure (DBA, LLC, Corporations, and Partnerships) can be different for small businesses. The legal, tax, insurance, and employment laws and regulatory requirements can also differ greatly when you have fewer workers, income, and property.
Is there a way I can test run the business to see how it does?
Before you start a business, you can always test it to see how it does. This process can be cheap or expensive. A side business is a cost-effective alternative so you can properly gauge the viability of your business.
Before you go ahead full time, you should consider the pros and cons of a side hustle or full time business. This includes everything from the budget, time, skill sets, and much more.
Should I get a business partner?
The right business partner can grow your company beyond your expectations. Conversely, the wrong one can have the opposite effect. The key is identifying what they bring to the table and how they complement your talents.
The reasons you need a partner vary. Whether you need a partner to fund your business or they have a particular set of skills, make sure you think about how to pick a business partner — and make sure you make the right choice.
Should I hire friends and family?
Most people say no, but there are great examples of family-owned businesses with everyone from grandparents to kids working together. The rule to live by is, only consider hiring your family members if they are fully qualified, especially when you first start a business.
When deciding whether to hire a family member, consider this. Don’t jeopardize your small business by hiring someone who is not qualified.
How do I price my products and services?
The quick answer is to look at your competitor’s price, calculate the total cost, and the perceived value. However, it is much more complicated. The key is to fully research the market you are going to serve and provide a competitive price point while staying profitable.
Finding the right product and service pricing strategy is stressful, so get some advice on how to do it right.
Where can I go for help, where are the online resources for starting a new business?
The good news is there is a treasure trove of information available online to help you start a business. The downside is the sheer volume can be overwhelming when it comes to startup statistics.
See our small business resource center for a comprehensive set of resources with information for small businesses. You will find categories from getting funding to business structure, competitive research, advertising, tax compliance and much more.
What is the easiest business to start?
The easiest business to start will require little capital, but more of your time to make it work. And not surprisingly, most of them are in the digital ecosystem. They include:
- Blog publishing
- Graphic and web design
- Online courses and coaching
- Business consulting
- Becoming a virtual assistant
Basically, you can take any skillsets you have and transfer them to a digital format to start your business with greater ease. You can use this skill set to run a business or teach what you already know.
Can I start a business with 1,000 dollars?
The answer is yes, you can start a business with $1,000.
So, what kind of business can you start?
If you want a digital business, you can start a virtual assistant business, design websites, create a blog or vlog, do eCommerce, provide online courses, and more.
In the physical world, you can start events planning, cleaning, errands, or personal chef businesses to name some of your options.
How can I start my own business with no money?
You can start a small business without any money, but you must bring other equity into the equation. This means you have to bring the skill sets you already have along with other resources to start your business without any money. And if you already happen to have a computer and an internet connection, your options are even broader.
In the physical world, you can start a dog walking or pet sitting business without any money. And in the digital world, starting a blog or providing fact-checking and research are as free as they come.
See our free checklist for more on how to start a business with no money.
What are angel investors?
These investors are individuals with high net worth providing funding for startups. In exchange for the investment, they get shares in the company. They are different from venture capitalists because they use their own money to make the investment. And unlike venture capitalists, they enter the business when it is relatively young, while VCs come on the scene when the business is already up and running.
How Much will Your Business Idea Cost?
Want to calculate how much your small business idea will cost? See our startup calculator to get started.
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*Dammit, Sha’Carri Richardson won’t be running in the Olympic 100-meter race. That’s because she tested after testing positive for a chemical found in marijuana.
On June 19, Richardson, who won the 100 at Olympic trials in 10.86 seconds, but was informed of of her ban Friday on the “Today Show” (watch below). At the Olympic trials her drug test came back positive which means her race win/result will be erased. Jenna Prandini, who came in fourth, is expected to get Richardson’s spot in the 100.
However, the Olympics won’t be a complete wash for Richardson, who accepted a 30-day suspension that ends July 27, which would be in time to run in the women’s relays.
Richardson, 21, was expected to compete with Jamaica’s Shelly-Ann Fraser-Pryce in one of the most highly anticipated races of the Olympic track meet.
On Thursday, as reports swirled about her possible marijuana use, Richardson put out a tweet that said, simply: “I am human.” On Friday, she went on TV and said she smoked marijuana as a way of coping with her mother’s recent death.
“I was definitely triggered and blinded by emotions, blinded by badness, and hurting, and hiding hurt,” she said on “Today.” “I know I can’t hide myself, so in some type of way, I was trying to hide my pain.”
Richardson had what could have been a three-month sanction reduced to one month because she participated in a counseling program.
As PBS News Hour notes, Richardson’s case is the latest in a number of doping-related embarrassments for U.S. track team. Among those banned for the Olympics are the reigning world champion at 100 meters, Christian Coleman, who is serving a suspension for missing tests, and the American record holder at 1,500 and 5,000 meters, Shelby Houlihan, who tested positive for a performance enhancer she blamed on tainted meat in a burrito. Also on Friday, defending Olympic 100-meter hurdles champion Brianna McNeal had a five-year ban for tampering or attempted tampering with the doping-control process upheld by the Court of Arbitration for Sport.
Now, Richardson is out as well, denying the Olympics of a much-hyped race and an electric personality. She ran at the trials with flowing orange hair and long fingernails.
“To put on a face and go out in front of the world and hide my pain, who am I to tell you how to cope when you’re dealing with pain and struggles you’ve never had to experience before?” Richardson said.
You don’t need a fancy college degree to make great money if you happen to have tech skills. If you can code, provide help with websites or test software, you may be able to earn a six-figure income. Experience and references are helpful, but no degree is required. Even if you don’t have the relevant skills today, if you’re willing to learn tech, you could earn plenty.
“Tech provides a comfortable living and can have huge upsides depending on career choices,” says Chris Kolmar, co-founder of Zippia and editor of its career advice blog.
If you don’t already have mad tech skills, you may need training to get into this field. Those training opportunities increasingly involve certificate programs that you can do online.
Coursera, for instance, offers classes on user experience, web design, cybersecurity and data analytics. Most of these programs can be completed in six months of independent study that demands less than 10 hours a week. Coursera charges $39 a month for unlimited access to these classes, and Google offers some scholarships for those who can’t afford the cost.
Google estimates that annual earnings of people who complete its certificate programs start at $50,000. Zippia estimates that information systems managers earn a median salary of $131,000, while information security directors pull in a median of $173,000. And those at the top of their craft earn considerably more.
Google says that there are hundreds of thousands more tech jobs than workers to fill them and that more than 100 big companies are committed to finding full-time jobs for graduates of its certificate training programs.
One of the benefits of tech careers is that demand is so great, people can work remotely, part time and freelance while earning five- and six-figure incomes. There are dozens of freelance sites vying for seasoned tech experts.
When it comes to finding tech work in the freelance world, choose your agent carefully. Several big sites that promise to connect tech experts with work, such as Freelancer and Upwork, expect workers to bid against one another for jobs. That can push rates way, way down.
But plenty of freelance sites offer reasonable to excellent pay. Here are some of the best:
Working Not Working and Creatively are both geared toward artists and designers. The positions these sites advertise are increasingly digital, so if you’re a designer of beautiful websites or a user-experience expert who can make websites and apps both intuitive and attractive, these are great places to post a portfolio and look for work. Neither site takes a commission from creatives who find work here.
If you have at least five years of experience, you can apply to join Braintrust. All freelancer members of the tech cooperative get a piece of the network, so your acceptance to Braintrust hinges on being interviewed and accepted by the freelancers already there. Your Braintrust shares don’t pay dividends, but they give you a vote in how the network operates. If you find a job through Braintrust, you’ll get 100% of your rate. The site adds a 10% fee to the client’s bill to pay network expenses.
SMA enlists freelancers for software development, systems engineering, computer graphics and presentation, management analytics and other projects. The site asks freelancers to sign up with a detailed resume explaining not only what jobs they’ve done in the past but also which systems they’ve used, how they measured their success and what roles they played in completing various projects. Those who make it through the screening process are invited to work on jobs that pay $28 to $80 an hour.
Freelancers on the FreeUp marketplace are also heavily screened. Those who clear this hurdle say that they find plenty of work and that it’s well-paid. You view open projects from employers. If you want to take a project, you contact the client for a 10- to 15-minute chat, during which the client decides whether to hire you. Freelancers are paid based on their skill level. The site doesn’t nick freelancers for fees, but it adds a 15% commission to the client’s bill.
Toptal likes to brag that it hires only the creme de la creme of tech talent. It then markets that talent to corporate clients needing project work. In theory, freelancers set their own hourly rates and simply make their services available through the platform. However, a Toptal spokesperson says the site lets freelancers know when their expected hourly rates make them “uncompetitive.” The site is secretive about its markup, which is rumored to be substantial. But freelancers say they’re still well-compensated.
You don’t necessarily need mad coding skills to build a simple website with Wix or WordPress, and if you can do it, you can find plenty of work on Fiverr. This broad-based marketplace enables freelancers to set the prices and parameters of the job they’re proposing. Clients come to you.
GoLance is also a broad-based freelance platform that connects tech specialists with clients. You set up a profile that says what you do and what you charge. Companies contact you when they’re interested. If you get hired, you pay an 8% fee to GoLance for making the connection.
Kristof is the editor of SideHusl.com, an independent site that reviews hundreds of money-making opportunities in the gig economy.
An essential part of a user-centered design process is assessing a product or service’s ease of use. It helps an organization understand how well a solution fits user needs and highlights areas for improvement. Empirical studies like usability testing yield insights directly derived from user behavior and feedback.
During a usability test, users engage with a solution and solve test tasks while a facilitator observes them and gathers their feedback. While oftentimes considered a purely qualitative exercise, it is possible to record, analyze and synthesize quantitative measures as well. Here are some of the most widely used usability metrics.
Usability Metric #1: Task Success
Task success measures effectiveness: to what degree can users successfully complete a given task? Users struggling to understand how a solution works, what actions to take, and how to advance from start to finish are clear signs the usability of the tested solution is not optimal.
Task success can be measured in more than one way. Binary task success only measures if the task was completed or not. We can show the results per user in a chart, or display the completion percentage of all tested users for each task, as seen below.
The above visualization shows that the only tasks every user successfully completed was one and five. Only half of the users could finish task four. These results lead to the conclusion that the solution doesn’t support its users in completing their objectives in an optimal way. Task four should be given particular attention, analyzing what users were doing, what they said and what blocked their path to success.
For more nuanced results and insights, a test can define levels of task success. For example, use a four-level scale to rate task completion such as: no problems faced; minor problems faced; major problems faced; failed. Note: reach an agreement on what user behavior constitutes each of the levels, especially if several people analyze the test results. The outcome of a level-based task success metric will look like this:
Related Article: User Testing Belongs in the UX Process: Here’s Why
Usability Metric #2: Number of Errors
This effectiveness metric reports the volume of observable incorrect user actions, i.e. any action which moves the user off-track from their task completion. Defining what an error is can be challenging. Typically, we talk about mistakes like choosing a wrong menu or accidentally clicking on the wrong link that is located near the right one. While all humans make errors, if we identify spikes in certain tasks, we can investigate how to improve the design to eliminate these error-prone conditions. To display the results of an error report, we can show the number of errors or the error rates per user, per task or as averages across users and tasks.
Usability Metric #3: Number of Help Requests
Number of help requests is very similar to the number of errors metric. In this case, the metric represents users’ uncertainty when carrying out tasks. Whenever a user asks a question like: “I guess I should click here now, right?” or “What should I do now?” they are stuck on their journey. The conclusion is the solution is not self-descriptive enough in that moment to indicate the next action and therefore needs to be re-worked. We can chart this metric the same way we did for number of errors.
Related Article: Why User Testing Isn’t a Nice-to-Have, It’s a Must-Have
Usability Metric #4: Number of User Actions
This metric expresses efficiency. What effort do users have to put forth to accomplish their goals, i.e. complete their test tasks? As a rule of thumb, the lower the effort, the higher the usability, and the better the user experience. We can gauge the effort by counting the number of observable actions that users take during their task completion journey. We know how many steps are needed from start to finish. If we now see that users require many more steps than what is necessary, or we see that some users utilize significantly more steps than others, it means that our solution does not support these users as well as it should. We can report the results per task or across tasks, per user or across users.
Usability Metric #5: Time on Task
Task execution time is another indicator of the effort it takes to carry out a tasks. By noting the time a task is started and then completed, we can compare the time spent between tasks and between users. If some users carry out their tasks slower than others, we can explore what aspects of the solution didn’t support them properly during their journey. Remember not to interpret the time as representative of the actual time a user in the real world would take for the task, because in the test situation we want the users to tell us what they are doing and thinking — which takes time. A visualization of the results may look like this:
Usability Metric #6: Learnability
Learnability is a special flavor of “Time on Task.” When we ask the same test users to carry out the same tasks repeatedly, we can trace how much faster they can complete them in each trial. The time between trials can vary — from minutes to days or even weeks — depending on our focus. We can visualize the results in charts like this one:
Here we see the task execution times generally going down over three trials. This is to be expected. Yet the decrease — the learnability — was higher for some tasks than others. Why is that? What aspects of the solution make it hard for users to understand and remember how to proceed? As mentioned above, because test users are asked to narrate their actions and thoughts during the test, which increases their task execution times, the relative difference between the trials is what’s important, not the actual time in seconds.
Following the same approach, we can express learnability by any of the other metrics above, as long as we gather their values over several trials. If the learning effect is high, task success should increase, errors should decrease, help requests should decrease, and number of user actions should decrease.
Usability Metric #7: Satisfaction
So far, all metrics have been based on observations. In addition, we can ask users to self-report their satisfaction with the way the solution allowed them to complete a task. After each task we can use a Customer Satisfaction (CSAT) survey which is typically based on a single item: “Rate your satisfaction with <product/service name>” alongside a Likert scale for answering.
We can then show the results per task, across tasks, per user or across users in a chart like this:
If satisfaction with the solution is low for one task, then any part of the solution used during the completion of that task is ripe for improvement.
Taking Action on Usability Testing Results
Now that we have a set of metrics, what do we do with them? We can use them to succinctly communicate different aspects of usability and UX to stakeholders. Keep in mind, however, that user experience is more than the sum of these measures. We can also use them to pinpoint areas of the solution that need improvement. We can also use our test results to track the performance of our solution over time: Are we improving between releases or do these numbers stay the same or even decrease? We can use them to compare against targets that we set and to compare our solution against competitor solutions.
As Lord Kelvin said, “To measure is to know.”
Tobias Komischke, PhD, is a UX Fellow at Infragistics, where he serves as head of the company’s Innovation Lab. He leads data analytics, artificial intelligence and machine learning initiatives for its emerging software applications, including Indigo.Design and Slingshot.
The Canadian Press
OAKVILLE, Ont. — Canada’s Jennifer Jones avoided elimination at the Masters on Friday morning with an 8-3 victory over Japan’s Tori Koana at the Sixteen Mile Sports Centre. It was the second straight win for the Winnipeg native, who fell into the C bracket at the triple-knockout Grand Slam event after dropping her first two games. In the other early women’s game, Russia’s Alina Kovaleva knocked out Japan’s Satsuki Fujisawa with a 7-4 win. In men’s play, Switzerland’s Peter de Cruz outscored Matt
Looking for work-at-home jobs? Businesses adapting to a post-COVID world are pushing demand for some remote jobs into the stratosphere.
If you can draw potential buyers to Shopify stores, handle paid advertising on Amazon or Google, or design restaurant menus, for example, you don’t need to go into an office to find work. Demand for these hot work-at-home jobs is growing at double- and triple-digit rates. That’s according to new research by Fiverr, an international freelance platform, on millions of customer searches conducted over the past six months.
For the record:
1:29 p.m. Oct. 19, 2021An earlier version of this article misspelled the last name of Natasha Shine-Zirkel as Shine-Zirket.
“At the beginning of COVID, a lot of businesses had to reinvent themselves by going from offline to online,” says Natasha Shine-Zirkel, business verticals group manager for Fiverr. “Now we are seeing all of these businesses trying to grow their online presence, while also gearing up their offline operations for the holidays.”
Hot work-at-home jobs
As a result, advertising, sales and marketing jobs are sizzling hot, says Shine-Zirkel. There’s been a 247% increase in companies looking for Shopify promotion experts, for example. Searches for people who can launch Facebook promotions have soared 174%.
There’s also continued demand for freelancers who can help companies go online and promote themselves there. Searches for front-end web developers, YouTube editors, social media experts and smartphone app developers have also soared.
The fastest-growing remote work categories for U.S. freelancers involve trademarks, customer service and making real estate videos.
There’s almost always a hike in demand for customer service representatives prior to the holidays, says Kim Garstein, senior vice president of international staffing company Robert Half.
However, COVID plays an important role. Many home buyers are still uncomfortable touring homes in person, for example. Thus, real estate brokers increasingly offer “virtual” home tours.
And, while restaurants are largely open for in-person dining again, many have shifted to digital menus. Of course, it’s tough to view a poster-sized menu on a 6-inch smartphone screen. So many restaurants are redesigning their bills of fare to improve the digital experience.
Meanwhile, demand for remote accountants, administrators, tech experts, writers, human resource managers and experts in healthcare, project management and education is also strong, according to FlexJobs, a curated job board for remote work. Demographic trends explain part of this. After all, the massive baby boom generation has largely hit retirement age, resulting in a shortage of experienced workers across the labor force.
But the pandemic, which closed schools and left parents scrambling for child care, made the labor shortage worse. And many schools still regularly test children for COVID and shut down at the first sign of infection. As a result, some families with young children have opted to at least temporarily forgo two full-time incomes. One parent scales back to part-time or contract work to address the still unsettled nature of public education.
Where to find jobs
As always, the best places to find work depends on what you want to do.
If you’re looking for remote project work, Fiverr is a good choice. The site supports 500 job categories, such as social media management, website development and digital marketing. Freelancers set their own rates here. But prices are generally calculated by the project, not the hour. As a result, it’s imperative to be specific about what is and is not included in the listed package.
If you’re doing website development, for example, you might offer a three-page site for $150; a five-page site for $250 and a 10-page site for $500. You can — and should — specify whether animations and interactive elements are included or extra.
Hourly work-at-home jobs
Kristof is the editor of SideHusl.com, an independent website that reviews moneymaking opportunities in the gig economy.
When it comes to the digital world, many professional service firms are still working to get caught up — especially the smaller players.
Today, B12, a startup that is focused on helping those smaller professional service organizations such as law and accounting firms or mortgage brokerages more easily accept online payments and build a digital presence in general, announced it has raised $15.7 million in funding led by Tola Capital.
Breyer Capital, General Catalyst, Naval Ravikant and others also put money in the round, which brings B12’s total funding to $28.1 million.
B12 co-founder and CEO Nitesh Banta is a former investor at General Catalyst — having worked at the firm from 2010 to 2015. He teamed up with MIT grad Adam Marcus in 2015 to found B12 with the mission of helping small professional service firms “own their digital identity and customer relationships” and give people a way to buy services online. It does things like help these firms with building a website, effective SEO, email marketing/automation, online scheduling and, of course, online payments and invoicing.
Banta said he was inspired to start the company because his own father was a small business owner.
New York-based B12 markets itself as an “all-in-one solution that helps professional services firms establish, run, and grow their business online.” It claims to get customers set up within 30 days and help them compete against larger online platforms such as LegalZoom, Better and Fiverr. Banta likens B12 to Shopify and Toast helping stores and restaurants, respectively, compete with the likes of Amazon and DoorDash.
“We believe small firms deserve to succeed online,” the executive told TechCrunch. “It’s a trend I’ve seen more broadly and we think professional services is the next category that needs an SMB enabler, and that’s really what we’re trying to do.”
Image Credits: B12
So far more than 150,000 companies have signed up for B12 and the startup has “thousands” of paying customers. Revenue has grown “over 50x” since the company’s 2016 funding. From January to August 2021, monthly payment volume on B12 has increased “15.2x,” according to Banta.
As a SaaS company, B12 makes money by selling its software via a subscription — starting at $29 a month and up to $599, depending on what a customer signs up for.
Over time, B12’s model has evolved as the pandemic accelerated digital everything, including payments.
“For a long time, we’ve really focused on this web presence space and we’re super excited to share with the world this payments feature as being a really unique way for this segment to work with their customers online,” Banta told TechCrunch.
General Catalyst Managing Director Larry Bohn has been a believer in B12 since its early days. The firm first invested in the company in 2016, leading its $12.4 million funding round. He said his firm had a long history with the founding team of B12 (particularly Banta) and believed they “have proven to be effective operators.”
“We also have a lot of experience in this industry, having led investments in Big Commerce and more, and believe that B12 is uniquely positioned to help professional service businesses with their digital transformation,” he wrote via email.
In his view, the company’s model is unique in that it helps professional service businesses grow online by using artificial intelligence “to power their go-to-market model of service,” which Bohn said gives companies “the latest technology, but with a radically easy approach to implementation.”
Aaron Fleishman, partner at Tola Capital, agrees that B12 sets up and activates firms to give their clients “a seamless experience” — from signing contracts with eSignatures to paying online for services.
B12 plans to use the new financing to accelerate growth, do some hiring and continue building out its product suite. In conjunction with announcing its latest raise, the startup is also revealing today a new “Client Engagement” product designed to help professional services firms connect with clients, offer services and automate administrative tasks “so they can sell online from a centralized platform.”
Ruby Lane is an online marketplace specifically for vintage and antique items like old jewelry, dolls, furniture, and art—like a fancy eBay!
While Ruby Lane may not have the brand recognition of that legacy site, it scores highly in surveys for its customer service and communication, so it will probably be less of a headache. There are standard listing options and on-site chat with buyers, and the site encourages shoppers to buy from new sellers to ensure they meet Ruby Lane’s high standards.
Making a Ruby Lane account is free, but there’s a monthly $25 maintenance fee, and a 9.9% service fee on transactions, meaning its more for people looking to unload a bunch of stuff at once or sustain a serious side gig or their own business. Maintenance fees are for waived your first month, though, so you can test the waters and set up your shop.
Here is When Fiverr (NYSE:FVRR) may Become Profitable, and how it Compares with Upwork (NASDAQ:UPWK)
This article was originally published on Simply Wall St News
When looking at Fiverr International Ltd.’s (NYSE:FVRR) future, there are a few points to consider. Their platform, how many people will convert to freelancers during the pandemic, how many people will stay on after the pandemic, what will growth look like on the long term, and how do they fare against their main competitor Upwork (NASDAQ:UPWRK). After taking these factors into account, we will evaluate when the company may break profit.
Anyone that has visited the Fiverr platform has had the experience of quickly finding what they are looking for. The range of freelance services is quite wide and expanding. Buyers are able to find something for every budget, and small to medium-sized companies have an efficient alternative for outsourcing tasks. The platform has expanded for longer-term commitments and services, widening their possible reach and serviceable market. Creators and freelancers are also flocking to Fiverr, as the platform gives them an easier way to reach customers and receive a secure payment that makes both the buyer and seller more confident in doing business.
Considering the possible growth, we will see how much the platform has grown in the previous period and what analysts estimate it will accomplish moving forward.
The chart above shows us that Fiverr did experience an increase during 2020 and the first half of 2021, but the interesting thing is that this trend should continue in the future, with analysts estimating revenue growth of 22.1% next year. It is apparent that both freelancers and buyers are coming back to Fiverr, which inspires confidence that the company is doing some things right and achieving organic growth.
Many investors also consider how will Fiverr compete against their main competitor – Upwork. When looking at the two companies, we can see that even though they started off with separate business models, both of them converged on the ways in which they provide their services. When one company innovates, the other often launches a similar future in the near future. The main difference between the two competitors used to be that Upwork offered freelancers an hourly rate, while Fiverr paid on task completion. These lines are now quite blurred as both of them now offer these options.
Estimated Revenue Growth Next Year
As we can see, Investors are more hopeful for Fiverr, and give them more credit for future cash-flows. Considering revenue, Fiverr is clearly lacking Upwork and both companies are estimated to grow by about the same rate. Fiverr does have more capital available to deploy to the business, but this is backed by debt which must be paid out later on, making the business riskier for investors – it is generally not recommended for new growth companies to fund their operations via debt financing.
So what might be the reason investors are valuing Fiverr higher than Upwork?
One of the reasons might be a qualitative aspect, such as trust in management. The other one is much more concrete, Fiverr has cash flows from operations at US$31.6m, while Upwork has US$18.1m. This is not significant while a company is investing in growth, but implies wider margins for Fiverr in the future when cash flows turn into profits.
Now let’s turn to Fiverr’s path to profitability.
The US$6.7b market-cap company posted a loss in its most recent financial year of US$15m and the latest trailing-twelve-month loss of US$40m leading to an even wider gap between loss and breakeven.
Many investors are wondering about the rate at which Fiverr International will turn a profit, with the big question being when will the company breakeven?
Consensus from 9 of the American Online Retail analysts is that Fiverr International is on the verge of breakeven.
They expect the company to post a final loss in 2022, before turning a profit of US$146k in 2023. So, the company is predicted to breakeven approximately 2 years from now.
How fast will the company have to grow each year in order to reach the breakeven point by 2023?
Working backwards from analyst estimates, it turns out that they expect the company to grow 69% year-on-year, on average, which signals high confidence from analysts.
Should the business grow at a slower rate, it will become profitable at a later date than expected.
Before we wrap up, there’s one issue worth mentioning. Fiverr International currently has a debt-to-equity ratio of 106%. A higher level of debt requires more stringent capital management, which increases the risk of prolonging the loss-making period.
Fiverr is pioneering freelancing gig services that seem to be in demand by businesses that want to optimize their operations and outsource various tasks.
Fiverr’s growth is expected to stick around in the coming years, as both buyers and sellers keep using the platform. The company has also increased the scope of offered services, widening its addressable market.
Fiverr and Upwork are the main competitors with similar business models and offered services. Currently, investors seem to ascribe Fiverr a higher valuation, possibly because of the larger cash flows which have the potential to turn to higher margins in the future.
Fiverr is expected to break into profitability 2 years from now – in 2023. The company will probably develop quite a bit in the meantime and be an established force in the freelance economy.
This article is not intended to be a comprehensive analysis on Fiverr International, so if you are interested in understanding the company at a deeper level, take a look at Fiverr International’s company page on Simply Wall St. We’ve also compiled a list of important aspects you should further examine:
Management Team: An experienced management team on the helm increases our confidence in the business take a look at who sits on Fiverr International’s board and the CEO’s background.
Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.
Simply Wall St analyst Goran Damchevski and Simply Wall St have no position in any of the companies mentioned. This article is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
If you scroll through TikTok or Instagram, you’ll definitely see get-rich schemes and how to hustle in order to make money online. Much as you may want to shrug them off, you really shouldn’t. The COVID19 virus is here to stay and it has hugely impacted the way that we live and ultimately, work. With most of the workforce migrating online, here are a few jobs that can help you get back on your feet or find them, if you’re a fresh graduate looking for a way to kick-start your remote career.
SEO is never going out of style
As much as businesses would like to make it on their own without the help of an SEO agency, the fact is that the internet is dominated by rules and algorithms which can help make or break a company. The sooner you understand that, the sooner you will be able to get in on the game and profit from the booming industry of SEO. Working for an SEO agency could mean anything from coming up with a digital marketing campaign to writing quality articles for a client. Depending on your skills and interest, it is definitely something worth looking into. Furthermore, all you would need is a computer, an internet connection, and a creative mind in order to get you started.
Freelancing for the free spirit
While some people thrive in a 9-to-5 environment, others will bloom when given the opportunity to self-govern. Freelancing online is a rewarding experience, especially if you already possess the skills and knowledge that clients are willing to pay for. Voice acting, content writing, coding, website developing, or graphic design are all common and popular jobs that dominate the market. There’s also the option of teaching a language or skill, such as photography or drawing. Of course, there are also data entry and administrative jobs that you can also look into – if that’s something that’s more up your alley. Plus, if you’re not sure where to begin, you can first build your base and experience on platforms such as Fiverr, or Upwork.
Starting your own business
The pandemic crisis has created deficiencies in our community, from not being able to dine out to being locked up in our homes. Humans need interaction, entertainment, and most of all, sustenance. If you have an idea on how to ease new challenges that we have to face in our day to day lives, it might be the time to put it into action and build something that can potentially turn into a cash cow. Logistics and cleaning companies have become rather big in the current landscape, along with digital games and other activities that people can do remotely together and in the comfort of their own home.
Making money is one thing, but growing your wealth is another thing entirely. Put your savings in a bond or invest it so you don’t spend it and it can continue to grow passively. Just make sure you do your research and don’t lose your hard earned money to a crypto-scam or volatile market.
Disclaimer: Brand desk content