Theory of Self-Employment
There is a lengthy list of potential business ideas. Some people are better than others at certain ones. You want to do something you’re good at. In economic terms, perform roles that you hold a comparative advantage in (i.e. you can perform at lower cost than your competitors, due to your experience, connections, and resources).
Most start in something they’ve worked in in the past due to experience and connections. That is how I started- I started a trucking and operating (oilfield, road construction, pipeline) business, beginning as a service provider- as that is where much of my experience is in, aside from a financial education, fitness, and personal investment experience. The latter is where my next business idea will likely stem from- to provide accounting, financial advisory, personal training, and fitness consulting services.
When my old man was still alive, he told me to do two main things:
When you have a good idea, whether it be a funny one, or just a business idea- write it down. You’d be surprised at how long the list will grow overtime, and one day you just might need it.
When you have spare money, put it in stocks. If you make money, great. If you lose money, then you would have learned something. You’ll also learn a lot about the businesses you buy parts of- as that’s what investing is in theory- you’re buying a part of a business. Now if you bought a piece of shit business, then you know not to make the same mistake(s), or not to get into it.
Personally to date, these are the following ideas I’ve come with. My rationale at the time was just to make extra pocket money, not big money. It was also just for shits and giggles when I got tired of dealing with idiots with my primary lines of work.
– Auto detailing
– Camera/photography equipment rentals
– Product and water drop and other “weird” unconventional photography
– Personal training/fitness consulting
– Resume and other writing services
– Financial consulting (i.e. tell you what to do with your life and money, and draft you a plan)
– Snow removal
– Hairdresser (not cut hair myself, but hire women Ive met over the years)
– Some sort of online store