What Do Top 100 Small Business Ideas Have in Common?
A lot of media companies and other third parties make their own annual lists of top 100 small business ideas.
With Fortune magazine, readers can check out the "fastest growing small public companies".
Websites also often make such lists.
Whatever the list's source is, many of the companies they've selected are sure to have three key characteristics in common.
First, majority of them are cost-efficient.
Compared to other start-ups in the same field, those that make it to the list have lower or easier capital requirements.
In most cases, this is because the business is home-based or Internet-based.
With this type of business set up, the company owner wouldn't have to worry about acquiring expensive office space, which could require a hefty deposit and advance.
Because the company can also be managed from home, owners are usually able to devote more time to the business, which then makes hiring a lot of employees unnecessary.
Second, many of the top 100 small business ideas feature start-ups that have to do with technology.
This makes sense since technology, by its very definition, is something that will and has to continuously evolve.
Because of its dynamic quality, there's always a new opportunity for business owners to level up and turn into a money-making venture.
Contrary to popular belief, technological start-ups don't always have to do something with the Internet or Silicon Valley.
It can concern something else - like an innovative technological system used in the field of medicine - and located elsewhere as well.
Last, a good number of top 100 small business ideas are green and humane.
They're eco-friendly from start to finish.
Nowadays, consumers have become more environmentally and socially conscious.
People are actively looking for companies that can readily prove their materials have been organically produced or that their workers are compensated fairly, if not amply.
Compared to the other two factors, this one can be more difficult to achieve at the start.
It will also frequently involve large sums of money at the start since you'll have to adapt new systems or make your own in order to ensure that your company's entire operations are completely green and ethical.
You also have to make sure that your methods are sustainable and will, in time, contribute to your company's sales and performance.
Majority of people behind the top 100 small business ideas are creative and hardworking.
If you have both traits as well, then you're off to a good start.
With Fortune magazine, readers can check out the "fastest growing small public companies".
Websites also often make such lists.
Whatever the list's source is, many of the companies they've selected are sure to have three key characteristics in common.
First, majority of them are cost-efficient.
Compared to other start-ups in the same field, those that make it to the list have lower or easier capital requirements.
In most cases, this is because the business is home-based or Internet-based.
With this type of business set up, the company owner wouldn't have to worry about acquiring expensive office space, which could require a hefty deposit and advance.
Because the company can also be managed from home, owners are usually able to devote more time to the business, which then makes hiring a lot of employees unnecessary.
Second, many of the top 100 small business ideas feature start-ups that have to do with technology.
This makes sense since technology, by its very definition, is something that will and has to continuously evolve.
Because of its dynamic quality, there's always a new opportunity for business owners to level up and turn into a money-making venture.
Contrary to popular belief, technological start-ups don't always have to do something with the Internet or Silicon Valley.
It can concern something else - like an innovative technological system used in the field of medicine - and located elsewhere as well.
Last, a good number of top 100 small business ideas are green and humane.
They're eco-friendly from start to finish.
Nowadays, consumers have become more environmentally and socially conscious.
People are actively looking for companies that can readily prove their materials have been organically produced or that their workers are compensated fairly, if not amply.
Compared to the other two factors, this one can be more difficult to achieve at the start.
It will also frequently involve large sums of money at the start since you'll have to adapt new systems or make your own in order to ensure that your company's entire operations are completely green and ethical.
You also have to make sure that your methods are sustainable and will, in time, contribute to your company's sales and performance.
Majority of people behind the top 100 small business ideas are creative and hardworking.
If you have both traits as well, then you're off to a good start.
Source...