Would entrepreneurs be as urgent about finding the best small business start up strategy in 2010 if the economic times were at an even keel? I’d say probably not. There are many advantages smart business owners can harvest from an economic time of turbulent change, and really that’s all we’re really talking about with current economic down turn in my opinion.
OK, I guess it’s actually a recession. And I’m won’t pretend that millions of people have been adversely affected during the last 3 years or so, it is what it is. Successful small business ideas will still be successful and successful entrepreneurs will still be cashing in, the question is, are you going to be one of them?
I think it bears mentioning that when the Government steps in to solve a problem, maybe it’s because its a problem to them. It seems to me that is about what it boils down to. Do you have any problems today you didn’t have 3 years ago in your business? If you’ve built a solid business that’s scalable, lower sales shouldn’t be a problem, at least not a critical one, right?
If I’ve learned one thing about the last three years it is to own more than one business. Owning several business is the best small business strategy in 2010 for a few simple reasons. The best small businesses to start will vary each year and having more options to work with makes a ton of sense. Many online business start ups are easily changed to pick up differnt income streams based on performance during the year.
First of all, I’ve learned that one business can feed another and a problem in one business can inspire a new product or service in another business. My online business is largely dependent on one or two revenue streams, this bugs me.
I think I’ve been complacent the last few months especially. If your like me you likely have about a dozen business ideas for every business start up you have actually launched, even the best small business entrepreneurs get complacent from time to time, so don’t fret, but ask, “what am I doing about it now”?
One of the best small biz strategies has always been multiple streams of income, but owning entirely different businesses in different industries will be hot in 2010. The fortune 500 companies went down this track years ago, but small business owners have lagged.
One advantage we have as small business entrepreneurs is that we can take small yet concentrated niche markets that are being under-served by these large companies and capitalize on our efforts.
Even to a new entrepreneur, starting a business for the first time, I’d say start a couple.
My 2010 Best Business Ideas
Here is list of things I plan on doing with my online business in 2010.
Starting a Business in 2010
Start 2010 with an overall plan including current businesses that are earning money, new business ideas to implement in 2010, and a couple new projects I haven’t tried. Obviously this business plan will be flexible, but it gives me a framework for productivity. Eventually even I get sick of trying to convince myself that a business idea I have is great and will make big cash. This year I’m gonna pull the trigger on these ideas and let the marketplace decide, after all its the only way to get paid. Starting a blog this year is one of the best investment for 2010.
Another idea I will be implementing in 2010 is to start an online business that has a tangible product. I’ve never really done this as a separate business entity. I’ve done some direct sales and some affiliate marketing, but never an actual product. I’m thinking private label, or drop ship, something of that sort. If you have any advice in this area, let me know via the comments.
Another 2010 business goal I have is to sell a website or domain name for over 10k. I’m not sure how I’m gonna pull this off, but I’m working toward it.
Lastly, I’d like to create a user generated content site. I have a site in mind that I already own, it just takes the leg work putting it all together. I’m planning on using word press to pull this off. Again if you have any suggestions or experience in this let us know in the comments! I started a forum that is connected to one of my websites, actually I started it and forgot about it for the most part, ever done that? About 8 months later I logged back in for the second time ever to find some people had asked questions and actually had some good activity. I thinks its probably important to manage a forum if I intend to make money with one.
What is you pick for the best small business start up strategy in 2010?
Are you pulling the plug on any business ideas?
Are you transitioning to a home based business?
Are you expanding a brick and mortar business online?