Business

Best Business Ideas to Make Money: 5 Startups You Can Do.

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It may take some time and effort, But here are five ideas for business that could earn you money and which you could run yourself.

  • Create a Software or Mobile App Development Company
  • Start Your Own Small Business Accounting Firm
  • Build a Graphic Design Business
  • Open a Law Practice
  • Run Your Own Real Estate Agency
  • Other Considerations for Business Ideas to Make Money

1. Create a Software or Mobile App Development Company

It requires skills in both design and programming languages. However, creating an app or software can be an investment that pays off. Contrary to product development times, producing thousands of copies of your product is approximately the same as making only one.

How you begin and what to create are common concerns for entrepreneurs interested in developing software. Suppose you’re serious about the idea and have observed a gap in the market that current software or apps don’t offer their customers. This is something you can profit from.

Also, you’ll need to ensure that your application is compatible with multiple operating systems. You’ll require some business knowledge as well as marketing expertise. If you cannot master this skill, you can hire experts after you’ve gotten further into development and will begin to see your program or app developer.

The initial costs for starting a business can be minimal, dependent on the business idea. It’s hard to estimate the amount of money you’ll earn; however, if you succeed (if you can tap into that market that was previously mentioned),

2. Start Your Own Small Business Accounting Firm

Being an accountant is very rewarding in both a personal and financial sense.

Typically, accountants supervise and are employed within the areas of:

  • Data Management
  • Financial Analysis and Consultation
  • Financial Reports
  • Regulatory Compliance

There’s no list of prerequisites for those looking to enter or move into the accounting field. However, a bachelor’s degree in accounting is highly recommended (liking math can help immensely). Accounting software knowledge is essential.

It is also essential to determine whether you’d like to go to the next step in becoming a CPA called “Certified Public Accountant.”

CPA is a CPA who has a higher degree than an accountant. The CPA certification is gained after completing specific educational and work requirements and passing a lengthy four-part exam. The criteria for being a CPA differ in each state, but after acquiring the certification, one can carry out specific tasks that accountants in regular practice cannot perform.

Many CPAs have specializations in various fields in which they can specialize. Here are some examples:

  • Forensic Accounting
  • IT Auditing
  • Taxation specialization
  • Non-profit
  • Personal Financial Planning
  • Managerial Accounting

While it takes more time to become CPA CPAs rather than an accountant seen as specialists in their area and have more in annual salaries than regular accountants.

Based on the Bureau of Labor Statistics, a federal organization that is charged with tracking the labor market activity, The 2017 median salary for accountants is $69,350 annually. These figures are based on the annual salary of all employees in the accounting industry.

In the Journal of Accountancy, the median salary of CPAs CPA working in the United States in 2017 was $119,000.

3. Build a Graphic Design Business

Graphic designers are a creative professional who designs or blends type, images, and visual motion elements into a design, usually for use in advertisements. Graphic Designers generally collaborate with producers and marketers who write the content and give the direction to the project.

With the increasing number of commercial and blog sites currently being developed, there is a huge demand for graphic artists. Therefore, you don’t need any degree, only the right level of creative skills and experience using design software that can meet clients’ needs. Like many other fields nowadays, you can complete this work at home, provided you’re equipped with the right tools. Many graphic designers work in this way and will only accept clients if they need the need to “go to work.”

You should create your portfolio before contacting potential clients, even if it’s pieces of work you’ve done but didn’t sell. Portfolios are a great way to show prospective clients what you have to offer.

For income, usually graphic designers who freelance get paid per job, according to Indeed.com, which is the country’s most popular job site, The average hourly wage for a graphic designer average $17.63 in the United States.

4. Open a Law Practice

It takes on average 7 to 8 months in the United States to become a lawyer. Of course, you’ll need to pass the bar exam (the bar exam differs in each state). Once you have passed the bar, you’ll be able to establish your law firm, be your boss, and choose the clients you want to work with.

Earning money in the law profession Once it’s established isn’t tricky. Lawyers make one of the highest incomes in the U.S. and many other nations. There are many specialization areas in law, which include:

  • Corporate Law
  • Tax Law
  • Criminal Law
  • Environmental Law
  • Real Estate Law
  • Health and Safety Law
  • Estate Planning Law
  • Intellectual Property Law
  • Family Law
  • Maritime Law
  • Personal Injury Law
  • Employment Law
  • Immigration Law

The median salary for lawyers in 2017, as per BLS, the Bureau of Labor Statistics, was close to $120,000 annually. According to BLS, the profession is predicted to grow by up to 8% between 2016 and 2026.

5. Run Your Own Real Estate Agency

Real Estate is a lucrative but challenging business. Agents, you’re always available. Weekends and evenings are hectic times. In the absence of selling, agents are looking for new clients.

To become an estate agent, You must get a license from the state where you intend to work. The requirements differ based on where you reside. For instance, in New York, you must complete the course, which is 75 hours long, while in California, there are 135 hours.

Other Considerations for Business Ideas to Make Money

Be aware that no matter what type of business you choose, you have no reason to do it all on your own. You can enter the company with a partner or partner when you’ve completed the appropriate education or certifications. This way, you’ll split the costs of starting and overhead, making your financial budget more straightforward.

Brian Santiago

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