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The Best Small Business to Start

The Best Small Business to Start

Many people are deciding to go into business for themselves.  The grind of working in an office and taking orders from a boss is not appealing, so people are deciding to start their own small business. When people make this decision, they often don't know what to do.  What is the best small business to start? With so many to choose from, this decision can often be overwhelming.  Obviously, you will want to choose something that you are good at and you have a passion for.  Here are some of the small businesses that have seen the most growth over the past decade:

1. Day care

This is one of the best small business ideas because the demand for it will always be there.  However, it is not the type of business that you can instantly get up and running.  You will need the proper licensing and training.  Running a professional daycare business is not like babysitting for your neighbor. However, the earning potential for a daycare business is very solid.  Because of the tough economy, many couples have full-time jobs.  Since both the mother and father are working all day, they need someone to watch their child.  Since there is not always a relative available, day care services will always be needed.

2. Photography

Even though every smartphone has a camera in it, people will always need experienced photographers to take photos at weddings, company functions or staff photos that will be included on website profiles of various employees.  It does not take a huge investment to get started in this business.  All you need is a few thousand dollars to by a top of the line camera and you can begin.

3. Computer and smartphone training

Are you experienced at using all of the latest apps and features of Macs, PCs and smartphones?  If you are, why not put your knowledge to use and make some money off of it?  We are living in a world of technology.  This is widely considered to be the best small business to start because of the explosion in popularity of smartphones in recent years.  Many older people are who are not familiar with technology are getting smartphones for the first time.  They need someone to show them how to operate their new gadget.  Why can't that person be you?

4. Moving company

This is another one of those businesses that there will always be a demand for.  This is one of the best small business ideas because there will always be people moving into new houses or apartments.  There will always be students moving into dorms.  These people will need help lifting their heavy items, so that is where you come in.  When you start this type of business, you need to make sure you are properly licensed and that you have liability insurance in case you break some valuable items during the moving process.  Needless to say, you or the people you hire will need to be in great physical shape with no back problems for this type of work.

If you are looking for the best small business to start, these are all great examples.  You can duplicate other business plans or if you have an idea to add a new twist to these businesses, I'm sure you will achieve success.  Most important part is that you are not afraid to try.

Business Management Fundamentals

Business management fundamentals

Businesses may be of any size. They may deal in any kind of commodity, and they may have one of at least three structures (sole proprietorship, partnership or corporation). But business management is built on certain principles which are the same regardless of the type of organization in which it is done. Every action and decision has to be coordinated properly so that a carefully chosen goal may be achieved.

Some history

The modern discipline of business management developed with the rise of the modern stock exchange during the 16th century, when the discovery of the New World opened up ocean trade routes, on which trade required more money than the simple proprietorship or partnership could make. Prior to that time, there was no distinction between owning a business and managing it; and those who managed small shops or farms did not plan the exact way in which they would do so. With stock companies, those who brought in their money often knew little about the businesses they were financing, so they hired managers who did possess such knowledge.

What does the business manager do?

Management of a business is as much an art as it is a science since the primary function of the manager is to get people to work more efficiently than they otherwise would. There are four main skills that form part of management:
  1. Planning — What is the desired final product? What resources, human and nonhuman, should be used to achieve that goal? If they are not available at the present time, how will they be obtained? What could go wrong, and how will that be prepared for?
  2. Organization — How are you going to make things happen? How ready is everyone to do what he or she has been assigned to do? How well trained and motivated are the employees?
  3. Directing — Here is the part where you tell each employee what he or she is to do, when to do it and what to use. In this function, the manager may play a role similar to that of the conductor of an orchestra.
  4. Monitoring — The manager is focused on making sure that everything is going along smoothly, fixing anything that is not, and in general remaining on top of things.

Small business management

The management of a small business is in many ways a separate discipline from business management in general. The processes described in the previous section do, of course, apply here as well, though they take place on a smaller scale. There are books on the subject, and at some colleges and universities (such as Penn Foster and Flathead Valley Community College), you can even choose specifically to major in small business management. For an example of a college program in that discipline, go here. Software and apps (including those for mobile phones) are also marketed.

When it comes to managing a small business, you need to start with the fundamentals of business management.

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