“We can’t all be heroes, because somebody has to sit on the curb and clap as they go by.”
This famous quote from U.S. showman and social commentator Will Rogers can be applied to the business of starting a business. Because such a large percentage of startup investment dollars are channeled into the more “glamorous” areas such as technology and healthcare, many more “boring” bread-and-butter ideas fail to attract the investment they need. And yet studies show that it is often these businesses that are the most profitable.
Financial information company Sageworks, for example, recently surveyed the financial statements of over 1,000 private companies with annual revenue of less than $10 million, and discovered that “boring” accounting firms were making the most profit.
These types of service-related companies are quite often at the top of the profit margin list. Virtual assistants, for example, are becoming very popular as many small online and brick and mortar companies, who are unable to afford a full-time employee, make use of a virtual assistant.
Master the Mundane
There are literally millions of business owners who make a lot of money by selling unglamorous products or offering routine, everyday services. The secret of mastering the mundane is to offer something that your customers can’t or won’t do themselves, and can’t get done anywhere else.
Love What You Do
The success of any business really relies on what you can personally bring to the table. If you do something you love and are therefore passionate about what you do, it follows that you will also be knowledgeable, committed and tenacious. If, on the other hand, you’re unsure, or half-hearted about your business, this will undoubtedly show in your results.
Embrace the Everyday
So if you want to start a business, don’t overlook the unglamorous areas. If you look around, you’ll see that good business ideas are everywhere – from your garage to your car to your friends and neighbors. Identifying a viable business opportunity is often as simple as finding out what common problems are out there affecting large numbers of people, and finding a way to provide solutions to those problems.
Are you looking for investment for your business, no matter how unglamorous it may seem? Or do you want to become an accredited investor in order to offer funding to a startup business? If the answer is yes to either, go to VerifyInvestor.com.