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Businesses ideas to pursue in 2024

5
minute read
Updated on:
February 8, 2023
February 9, 2023
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Are you searching for business ideas to start in 2024? With the rise of technology and the increasing popularity of flexible work options, the opportunities for small side businesses are abundant. From coaching to online tutoring, there's a variety of options to choose from. In this article, we'll highlight some of the best small-side business ideas for 2024, covering a range of options to suit different skills and interests.

Whether you're after a creative outlet, a source of passive income, or a path to entrepreneurship, this guide will help you explore your options and turn your passions into a thriving business. So, get ready to find the perfect side business idea for you.

What Is The Top Business Idea?

Coaching is a lucrative and fulfilling side business idea that has gained immense popularity in recent years. With the rise of remote work and the need for personal development, individuals and businesses alike are turning to coaches for support and guidance.

Coaching: A Rewarding Career Choice

Coaching is a dynamic and growing industry that offers flexible career opportunities for those passionate about helping others. Whether you're interested in life, business, or health coaching, this section will explore the exciting world of coaching and its potential for personal and professional growth.

Life Coaching

Provides a unique opportunity to help people reach their full potential and live the life they desire. If you're passionate about personal growth and development, learn more about the rewarding career of life coaching in this section.

What does it entail?

  • Aiding people in their personal growth and development
  • Supporting clients in identifying strengths and setting achievable goals
  • Guiding clients through obstacles that hold them back
  • Helping with a range of issues, from career changes to relationship challenges
  • Utilizing various tools, like goal-setting, visualization, and positive reinforcement, to help clients reach their goals
  • A fulfilling career option for those passionate about helping others and willing to learn.

How to become a life coach?

  • Research the different approaches to life coaching and find one that resonates with you
  • Get certified by an accredited life coach training program
  • Build your skills and knowledge through workshops, webinars, and additional training
  • Develop a niche or area of specialization to better serve your clients
  • Create a professional website and establish an online presence
  • Network with other life coaches and industry professionals
  • Offer pro bono sessions to build your client base and gain experience.

Business Coaching

Provides entrepreneurs and business owners with the tools and support they need to succeed. If you're passionate about helping businesses grow and thrive, discover the exciting world of business coaching and how it can become a profitable side business idea.

What does it entail?

  • Helping businesses identify areas for improvement and develop a plan for growth
  • Guiding business owners and executives through challenges and decision-making processes
  • Utilizing a range of tools and techniques, like goal-setting and problem-solving, to help businesses reach their goals
  • Supporting businesses in developing effective strategies for sales, marketing, and customer relations
  • Assisting businesses in navigating changes and adapting to new markets and technologies
  • A unique opportunity to make a difference in the success of businesses and entrepreneurs.

How to become a business coach?

  • Study the principles and practices of business coaching
  • Get certified from an accredited business coaching program
  • Gain practical experience by working with business clients and entrepreneurs
  • Develop a niche or area of specialization to better serve your clients
  • Network with other business coaches and industry professionals
  • Create a professional website and establish an online presence
  • Offer introductory coaching sessions to build your client base and get feedback.

Health Coaching

Is a growing field that offers a unique opportunity to help individuals improve their health and well-being. This section will explore the basics of health coaching and provide insights into what it entails and how to become a health coach.

What does it entail?

  • Assessing clients' health and wellness needs
  • Developing personalized nutrition and lifestyle plans
  • Motivating clients to set and achieve their health goals
  • Providing guidance and support to help clients make positive changes
  • Staying up-to-date on the latest health information and trends
  • Building relationships and working closely with clients to help them maintain healthy habits
  • Offering healthy cooking demonstrations and other hands-on activities.

How to become a health coach?

  • Acquire a solid understanding of health, wellness, and nutrition principles
  • Obtain certification in health coaching from a reputable institution
  • Build hands-on experience through internships, volunteering, or working with clients
  • Develop a unique area of expertise to better serve your clients
  • Network with other health coaches, nutritionists, and healthcare professionals
  • Establish a professional online presence through a website and social media
  • Offer introductory coaching sessions and workshops to grow your client base.

What Are The Other Top Side Business Ideas?

Dropshipping

Discover the world of dropshipping and how it could become your side business success story! This low-cost and low-maintenance model of online retail is perfect for those looking for flexible and scalable side business ideas.

What does it entail?

  • No need to stock inventory - partner with a supplier who ships directly to customers
  • No upfront investment - start small and grow as you make sales
  • Easy to set up - can be done from the comfort of your own home
  • Flexibility - can run your business from anywhere with internet connection
  • Potential to scale - expand product offerings as your business grows
  • Lower risk compared to traditional retail - no need to invest in inventory upfront.

How to start?

  • Research products to sell - find a niche and source products from suppliers
  • Choose a platform - Shopify, WooCommerce, etc.
  • Set up an e-commerce store - create a website, select payment methods and shipping options
  • Market your store - use social media, influencer marketing, paid ads, etc.
  • Monitor your business - track sales, expenses, customer feedback, etc.
  • Stay up-to-date with industry trends and adjust your strategy accordingly.

Remote Development Services

As a developer, you possess technical skills that are in high demand right now. From developing websites for small businesses to providing technical support, your expertise can make a huge impact and can be a great business to start from home.

What does it entail?

  • Technical skills and soft skills
  • Ability to distill your knowledge and expertise into easily understandable terms
  • Self-motivated to complete tasks and projects on your own
  • Responsibility and hard work

How to start?

  • Decide what type of remote development business you want to start. Do you want to specialize in website development, mobile application development, NET development, or game development?
  • Establish a professional online presence. Create a website, a portfolio of your work, and social media accounts to promote your services and attract customers
  • Develop a business plan and marketing strategy to attract clients
  • Start networking with other developers and potential clients.

Social Media Management

Tap into the power of social media to build brands and grow businesses. This in-demand side business idea lets you help companies thrive online, by crafting and executing effective social media strategies.

What does it entail?

  • Understanding of different social media platforms and their algorithms
  • Knowledge of creating, managing, and scheduling social media posts
  • Ability to develop engaging content and monitor audience engagement
  • Knowledge of digital advertising and marketing strategies
  • Collaborating with clients to achieve their online presence goals
  • Analyzing and reporting on social media performance to clients
  • Keeping up with social media trends and making recommendations for improvement.

How to start?

  • Research the various social media platforms and choose the ones you are most proficient in
  • Determine your niche or target audience
  • Develop a strong personal brand to attract potential clients
  • Build a portfolio of your previous work and case studies
  • Offer your services to friends, family, and local businesses as a way to gain experience and build your portfolio
  • Network with other social media professionals to learn best practices and stay updated on industry trends
  • Set your rates and create a pricing structure
  • Create a website and an online presence to showcase your services and attract new clients
  • Offer promotional deals and discounts to attract new clients
  • Continuously improve your skills and stay up-to-date with the latest social media trends and algorithms.

Affiliate Marketing

As a side business, affiliate marketing involves promoting products and earning a commission for each sale made through your unique referral link. It's a simple way to earn while sharing products you love.

What does it entail?

  • Affiliate marketing is a commission-based business model
  • Partner with companies to promote their products/services
  • Share unique affiliate links to track sales and earn a percentage of the profits
  • Research and choose products/services that align with your audience's interests
  • Utilize various marketing tactics such as email marketing, social media, and content creation
  • Continuously analyze and optimize your strategies to increase earnings.

How to start?

  • Research and select a niche to focus on
  • Identify products that align with your niche and audience
  • Join an affiliate program for the chosen product/s
  • Create content (blog posts, social media posts, email campaigns, etc) that showcases the product/s and includes your unique affiliate link
  • Drive traffic to your content and track your affiliate sales
  • Continuously evaluate and optimize your approach for better results.

Virtual Event Planning

Make your love for event planning into a profitable side hustle! With virtual events on the rise, now is the perfect time to start your own virtual event planning business. Impress clients with your organizational skills and attention to detail from the comfort of your own home.

What does it entail?

  • Virtual event planning involves organizing and executing events online instead of in person
  • This can include weddings, corporate events, conferences, and more
  • The role of a virtual event planner includes communicating with clients, booking virtual venues, and coordinating vendors and speakers
  • Virtual event planners need to be tech-savvy and understand how to effectively use virtual platforms for events
  • Staying on top of trends in the virtual event space and finding creative solutions to challenges is key for success as a virtual event planner

How to start?

  • Research and understand the basics of event planning
  • Identify your niche and specialize in it (e.g. weddings, corporate events, etc.)
  • Network with vendors and clients in your target market
  • Develop a portfolio of successful virtual events
  • Offer competitive prices and excellent customer service
  • Advertise your services through social media and other platforms
  • Continuously upgrade your skills and knowledge in virtual event planning.

Online Tutoring

Offers a flexible opportunity to share your expertise and make extra income. As a tutor, you can help students with their academics or specific subjects from the comfort of your own home. With the rise of online learning, now is a great time to consider online tutoring as a side business idea.

What does it entail?

  • Online tutoring involves providing academic or skill-based instruction to students over the internet
  • Utilize platforms or software to conduct lessons, assignments and tests
  • Offer personalized attention and support to help students reach their learning goals
  • Tutor a variety of subjects, from primary school to higher education level
  • Flexibility in terms of work schedule, subject and student choice.

How to start?

  • Assess your expertise and areas of interest to specialize in tutoring
  • Develop a comprehensive lesson plan that includes the curriculum and goals of each session
  • Decide on the type of tutoring platform you want to use, e.g. video conferencing or chat-based
  • Research and compare pricing and features of different platforms to select the one that best suits your needs
  • Market your services through social media, tutoring websites, or other online channels
  • Set a fair and competitive rate for your services based on industry standards and your own expertise
  • Build a positive reputation by delivering high-quality tutoring sessions and seeking customer feedback
  • Stay up-to-date with the latest teaching methods and technologies to provide the best service possible.

Get started

Starting a small side business in 2024 can be a great way to supplement your income and pursue your passions. With the right skills and knowledge, you can become a life coach, business coach, or health coach, or explore other options like dropshipping, social media management, affiliate marketing, virtual event planning, and online tutoring. The possibilities are endless. Bonsai can help you get there. Sign up for a free 7-day trial to handle all of your business admin work

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