Launching your own venture can be a great way to take control of your destiny and boost your income. Whether you’re planning to give up your day job to focus on a new business or you want to start a side hustle to generate a little extra revenue, there are endless possibilities out there. To get started, take a look at these five business ideas you can start right now:

1. Become a Consultant

Use your professional expertise and experience to branch out and set up your own consultancy business. From teaching other firms how to manage their finances, make digital transitions or improve customer experiences, there are no limits to what you can specialize in. As well as working with clients on a one-to-one basis, you can generate passive income by creating online tutorials, webinars, and eBooks.

2. Start Investing

Always wanted to play the markets and make your own fortune? Now’s your chance. From FOREX and stocks and shares to property, P2P lending, and XRP trading and investing, there are endless opportunities to grow your capital. Now that you can use online brokers and platforms, commissions are typically a lot lower, which means trading can be a viable option for everyone, even if you only have a relatively small amount of capital to invest.

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3. Establish Yourself as an Influencer

When you build up a sizeable following online, you can generate a significant amount of revenue as an influencer. People often associate influencers with young demographics, but this isn’t the only audience that responds to this type of marketing. 

With internet usage growing across all demographics, you can set yourself as any type of influencer. Use your experience, expertise, and interests to publish high-quality content on any subject and you’ll gradually acquire followers. Then, you can implement affiliate marketing strategies to maximize your income. 

4. Be a User Tester

Companies and entrepreneurs are consistently developing new software, platforms, and apps, and they need users to test their innovations. This can be a great way to increase your income, particularly as you can pick and choose what projects to work on and incorporate your role as a user tester alongside any other work you want to do. What’s more – testing online products, such as software or apps, means you can operate as a user tester from any location in the world. 

5. Tutor Students

Another way of using your skills and knowledge to set up your own business is to start tutoring students online. You can work with kids or adults, depending on what it is you’re going to teach. From core subjects, like math and science, to professional skills, like business management, there’s high demand for online tutors, so why not make the most of the opportunity?

Becoming an Entrepreneur

Starting a business can be challenging but it can offer high rewards too. With the potential to create your own schedule and focus on something you enjoy, finding the right business idea and launching your own startup can be one of the best decisions you’ll ever make.