Money Magazine knows what they’re talking about. This article (Money-Best Small Businesses to Start) written in 2008, talks about the economic trends that will affect small businesses in the years to come and how entrepreneurs can get ahead of the curve. They predicted that the following fields would be ripe for new business creation:
Career Counselor or Coach
Freelance Web Writer
Going Global Firm
Higher Education Services
Online Art Dealer
Online Farmers’ Market
Are you seeing what I’m seeing? All but three of these are in the service industry; that’s a whopping 75% of then-budding opportunities. The best part? With a little creativity and some expertise, these jobs can be done online.
“Many of the Best Small Businesses to Start can be run from a home office, cutting start-up costs. Alex Chamandy of Arlington, Va., runs a computer repair business from his basement.”
Excellent. Especially with people out of work (especially in 2008), there’s no better solution to joblessness than to generate your own jobs, your own opportunity.
“Modern communication tools also make it easier for start-ups to get off the ground. Social networking sites and blogs help entrepreneurs, like career counselors and financial advisers, establish their expertise and credibility. And customers can find you today with a mouse click.”
Wow, they make it sound like it’s really easy to start an online business and wrangle yourself a fulfilling career-from-home. But let’s take a look at the gritty behind the scenes stuff it takes to start one of these home-grown gold mines.
Click of a mouse? That mouse click could cost entrepreneurs more than $12,000 in web development, hosting, and search engine optimization. If your site isn’t engaging and easy to find, your customers won’t be moved from click to buy. Career counselors and financial advisors can definitely help you establish your credibility in the field, but how do you establish credibility with consumers? By having satisfied customers who are willing to talk you up to their friends. Word of mouth is a powerful tool, but it usually means a long period of low returns before you generate enough to sustain a budding venture.
There’s a whole host of start-up issues that make the tenants of this article little more than a pipe-dream. Especially in 2008.
In 2012, Earnest.com wants to smash these barriers to starting successful ventures into smithereens. Tiny shreds of a time passed. We want to enable people to start new ventures in an affordable, low-risk way so we can accelerate our slow climb out of the recession. Job creation, financial independence, community enrichment, commerce expansion, all of these things are critical to our national health and in order to achieve them, entrepreneurship needs to be accessible. Simple as that. Simple as Earnest.com.
Now that we have the benefit of hindsight, do you think these really were the hot emerging fields? Are they still? What would you say we need now? Leave your answers in the comments!