In the age of the Internet and social media, starting a business is way easier than you think. Gone are the days when you needed to invest in business cards, a fancy office, inventory or even a website to get started. In today’s sharing economy, your business can be a “side hustle” for extra income, or a full-time venture that brings in enough income for you to live while also providing you enough time to pursue your other passions.
There are three things that every aspiring entrepreneur needs to start a business. The first and most important thing you need is CUSTOMERS. Your business doesn’t have to be innovative, or unique or even differentiated. Second, these customers must be willing to PAY for your product or service. Lastly, you must be able to deliver your product/service at a price where you can make a PROFIT. Once you have those three things, guess what? You have a business! If you’re missing even one item from that list, what you have is a hobby, at best.
If you have paying customers, you can start your business with the funding source that is most often overlooked–REVENUE! If you fund your business with revenue, there is no need to hit-up your family and friends for loans or equity capital. You can be your own investor!
Now that we have established the groundwork, let’s get into some of these six figure business ideas:
- Eyelash Extension Technician
Have you ever seen women with a fake lash on each individual eyelash? This service costs between $100 and $200 and the costs of buying the materials is less than $10 per client. Each client can be served in an hour or less. According to our math, an eyelash tech who sees eight clients a day, five days a week can make more than $200,000 per year! And the class to learn this skill is only one day and costs between $600-$800.
This is a business that you can market via social media and you can perform the service in your client’s homes. No need for a salon, website or even business cards!