Thread by @SimonHoiberg

Want to start a business?

Keep it simple!
Become a solopreneur and start on your own.

🔸 You can get started almost for free.
🔸 You don't need to quit your regular job.

Here are 5 ideas + strategies you can use to get started 🚀

🧵👇

⚠️ Disclaimer:
You're not gonna be rich overnight.
Building up a business requires hard work.

The good news is - it's probably easier than you think 😉

Keep reading 👇

If you're interested in this topic, be sure to check the video version of this thread as well. I go into much more details here 👇

🔸 Number 1:
Selling stock items.

There are marketplaces like Shutterstock, Envato, Artlist, Etsy, where you can sell photos, graphics, music, themes, templates, excel sheets, and so on.

All from the comfort of your own home.

🚀 Strategy:

First, locate your skill. What do you like to do?
What are you good at?

Then set up your account, and start creating.

Most people that make good money in this space, do so on the same 3-5 items. So you need to keep pushing until you find something that works.

It can take a while, so you need patience and perseverance.

Here's the trick: You need to find a way to create items fast, without compromising quality.

Every time you try to make a new piece, make it a competition with yourself to bring down the total turnaround time.

⚠️ Caution:

These marketplaces offer great opportunities but are also criticized for a number of reasons.

They do take a substantial cut of your profit, and they do have the right to change their terms at any point, which may significantly hurt your business.

Here's a list of well-known marketplaces you can check out:

envato.com

artlist.io

etsy.com

premiumbeat.com

shutterstock.com

stock.adobe.com

🔸 Number 2:
Dropshipping.

When you do dropshipping, you sell items directly to consumers from a webshop, but without stocking any inventory.

🚀 Strategy:

Set up a webshop using something like Shopify.
Then you find a supplier to partner with, that owns the stock of the items you'll be selling.

Start looking into Dropship Direct or AliExpress.
They have millions of products ready to sell.

Now, whenever a customer places an order on your webshop you forward the order to the supplier.

As an owner of a dropshipping business, you are responsible for creating a website and a webshop, building a brand, and establishing prices that result in a good profit margin.

You'll need to run ads.

Head over to Artlist or Envato, find some great graphics or video elements you can use to create an ad quickly.

A/B test your ads using a small initial budget to see which colors, phrasing, call-to-action, and combination of them all work the best.

⚠️ Caution:

Services and retailers like Shopify, Alibaba, AliExpress, Amazon, have made the barrier of entry almost non-existing.

It's really cheap and really easy to get going, which also means that this market is extremely competitive.

Check out these 4 guides on dropshipping from the Shopify blog.
They are really useful 🔥

shopify.com/blog/best-drop…

shopify.com/blog/dropshipp…

shopify.com/blog/how-to-st…

shopify.com/blog/117607173…

🔸 Number 3:
Become a Social Media Manager.

If you're good with words and understand how Social Media works, you may start a small business where you take on the responsibility of branding other businesses on social media.

🚀 Strategy:

You will need:
- A Social Media Management tool.
- Access to graphics and videos.
- Clients.

I recommend using FeedHive to manage, draft and schedule, keep a tight overview of all your content, and help you come up with new ideas at a fast pace.

⭐ BONUS ⭐
Use this promo-code to get 25% off on the most popular plan:

BRAND25OFF

https://twitter.com/FeedHive_io/status/1388739276637196290

Social Media is very visually oriented, so you will need sharp graphics and video bits to support the message that you're sharing on the behalf of your clients.

Again, Artlist and Envato to your rescue here!

Lastly, you'll need clients.

The best way to get started is to list yourself somewhere.
I suggest creating a profile on Upwork or Fiverr, and start reaching out to potential clients.

🔸 Number 4:
Day Trading.

Trading stocks, options, bonds, and crypto, in a way that will make you a profit on a day-to-day basis.

Of all these ideas, this one is the approach that makes you the most independent.

🚀 Strategy:

Set up a trading account on an online broker.

To get started, I recommend these 3 books:

- The Single Best Investment
amazon.com/Single-Best-In...

- How to Day Trade for a Living
amazon.com/How-Day-Trade-...

- Too Much Money
dividend.gumroad.com/l/CSdwG

⚠️ Caution:

The stock market is a living thing, and it's incredibly hard to predict.

Even the most experienced traders struggle here, and the best way to make money consistently is to build a strategy around the fact that you'll miss - a lot.

It can be tremendously stressful!

🔸 Number 5:
Flipping.

Buy an item and sell it for more elsewhere.

Typically, this involves picking up used items that you find in garage sales, thrift stores, auctions, Facebook groups, and so on - and then reselling them on online marketplaces.

There's a related technique known as retail arbitrage, which includes buying larger amounts of items on sale from local retail stores and then reselling them on Amazon.

There are people that have built 7-figure businesses based on this idea.

🚀 Strategy:

It's really simple to get started flipping:
Join 5-10 Facebook groups with the purpose of selling/buying used items.

Spot which kind of items are commonly requested or very popular when they get listed.

Now, hunt down local garage sales and auctions, and see if you can fit the demand.

List them in the groups and make a profit.

If you want to get started with retail arbitrage, follow these steps:

Register for an Amazon Seller Account and wait for approval.
Find local retail stores and start hunting down products.

List them for sale on Amazon.

You can download the Amazing Seller App and use it to scan the items you are considering buying.

This app will give you an estimated selling price which you can use to determine if you can make a profit that is significant enough to make it worth the effort.

🔥 There you go 🔥

5 ideas that you can use to become a solopreneur, doing business online.

If you want to learn about these 5 approaches in more details, be sure to check out my new YouTube video 👇

I hope you enjoyed reading.

Please, go back to the first tweet and give it a like 🧡 and retweet 🔁.

Do you have other great ideas that you can use to start a business online?

Please, let me know 👇