What small business startup idea should you invest in?
That is the very first question you have to deal with when you decide to venture into entrepreneurship.
The truth is . . . there are tens of entrepreneur ideas you can review before settling for a particular one to invest in.
This retirement planning guide recommends that you invest in ideas for small business that fits with your passion or your dreams.
The reason is because when you invest in a retirement business idea that is within a sector you're passionate about, you will not easily give up on the business if the business does not turn profit as fast as you expected.
Let's take a moment to review some of the common small business startup ideas to give you a range of entrepreneur ideas you can choose to invest in.
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Below are top 5 small business ideas you can invest in while still in paid employment.
You can then grow your chosen business idea over time into a business that can help you retire early and achieve financial freedom even after retirement.
Production business involves developing a product or service idea based on the needs of a target market and then designing and manufacturing the products for sale to that target market.
Examples of production business activities include:
. . . and countless other production opportunities.
Yes, if you can dream it, you can produce it.
In view of the above, how do we define manufacturing or production?
Production (or manufacturing) essentially involves taking a set of
input materials, passing them through a transformation (or manufacturing
process) and then delivering outputs (or products) that customers are
willing to pay for.
One of the major challenge with production business as a small business startup idea is the size of the startup capital required.
Starting a production business is usually capital intensive because of the . . .
Nevertheless, production business can still be considered a small business startup idea because some types of production activities can be started on a small scale.
This kind of small scale manufacturing businesses can be started within a small facility (e.g. within a room in your apartment building or your basement) and expanded over time into a massive corporation.
Of course, the possibility of having a small scale production facility depends largely on the type of products you intend to manufacture and how strict the government regulations in your country are.
It is true that production or manufacturing business is often a capital intensive business.
However, it is also a very profitable business if you design your production process with efficiency in mind and if you optimise your business costs.
Just how profitable can a production business be?
There are "rumours" that many manufacturing businesses have profit margin as high as 20 to 50 percent.
Yes, production business that can quickly take you from being a struggling employee in a big corporation to a multi-millionaire (or even a billionaire) self made founder and CEO within a period of 6 to 15years.
Pause and think about that.
Why work in the 8-5 rat race for 35 to 40years only to end up retired and broke when you could toil in your own self-created production business and become a multi-millionaire (or even a billionaire) in just 6 to 15years?
If you're a proactive and creative employee, the choice is clear.
Invest in a manufacturing small business startup idea!
Other entrepreneur ideas include:
1. Distributor business opportunity
2. Service business
3. Affiliate marketing business
4. Self made online teaching jobs also called online teaching business
The extra income ideas section discusses these additional entrepreneur business opportunities proactive employees can invest in to generate long-term income even after retirement.
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