Starting a business of your own, whether it’s small or medium-sized, with your savings is something many women are doing nowadays. With so many methods of marketing via social media now available, women are increasingly starting small, one-woman businesses that are based not only on their talents but also their passions—and then making successful careers out of the same. Often, these businesses start out as a means of earning some extra money, a side hustle that’s enjoyable and rewarding too. But in the case of others, these businesses are full-time ventures that provide a sole source of income to a household that needs it.
Whatever the reason may be, starting a new business, especially one that doesn’t require too much capital, can be conducted from the comfort of home, and has the prospect of bringing rewarding returns in future, is not easy. Those who are trying to start just such a venture on their own have to master a lot of skills and take many crucial decisions to be able to make it. Wondering how to start out as a business owner yourself? Read on to find out.
Why Women Should Start A Side Hustle
Many women think of starting a side business or a side hustle, and this is critical as many researchers and studies also point out. A BBC report by Renuka Rayasam explains how the changing landscape of jobs today do not provide much security in full-time jobs, and having a side hustle can remedy that by opening up more earning avenues for women. This is also important because women often have to leave the formal workforce to care for children and elders, and this career break can be difficult to make a comeback from.
Despite many returnship programmes started by companies across India, the fact remains that rejoining the workforce still has many obstacles, including upskilling and reskilling that women may find difficult to overcome. At the same time, having a side hustle can improve more than a woman’s financial stability. Running the nitty-gritties of a business can help women become more self-reliant, masters of their own jobs, and provide the confidence they can utilise well into their golden years. So, the benefits of starting a side hustle are plenty for women.
How Women Can Choose A Business Idea
Once you do decide to start a business or side hustle of your own, it’s time to evaluate your strengths and weaknesses to decide which business you want to start. Give this part of the process plenty of time and thought, and gather all the information you could possibly need—because this is indeed the most crucial question. Here are a few tips you could use to make the choice.
Decide on something that actually pays: Not every passion or hobby pays, and what you need from a side hustle is a somewhat stable income. So, don’t pick a business that isn’t based on a good selling point and has a good demand among people, especially in your region or nation.
Find a gig you enjoy: At the same time, don’t pick a business idea that pays well but doesn’t give you any joy at all. This is the basic reason why people look away from jobs and invest in side hustles in the first place. So, find a business idea that pays well and is enjoyable too.
Ensure flexibility: A side hustle is just that, a business you do on the side. It has to have flexible timings so that you can juggle another job, perhaps a full-time one, while setting up this one. Many women also pick small business ideas because they offer more time for the family, so consider that too.
Pick a hustle with room for growth: Every business needs to evolve, often at least once a year, to keep up with the swiftly changing times and trends. So, pick a business idea that offers you that chance to explore and carry on for years to come.
Technological Business Ideas For Women
With so many women enrolling in engineering courses every year, there are plenty of training opportunities for technological jobs. However, there might not be plenty of full-time job opportunities available, especially if you have taken a career break for maternity or family health. So, if you are a trained woman in technology fields, the following side hustles can be the right choices for you:
1. Website designing and development – This can be picked up as a freelancing job as there is usually a steady stream of demand from people to create, maintain and upgrade websites.
2. Freelance coding and app development – App developers usually have a high demand for freelancers who can meet their coding demands. App development itself is a great side hustle.
3. SEO consulting – Search engine optimisation is a skill you can learn pretty easily, and because it is so in demand, you can get a steady stream of gigs based around it.
4. Tech support – With tech developments moving swiftly, tech support is certainly a job profile you can look at as a side hustle.
5. Web security specialist – With digital vulnerabilities and cybercrimes rising, web security is a growing field.
Influencer Business Ideas For Women
There are now plenty of businesses that can be set up with the help of social media platforms. The following are some influencer business ideas you can give a try:
1. Food blogging, reviewing and writing
2. Small baking or food businesses
3. Tailoring or fashion styling boutique
4. Festive or gifting craft ideas
5. Art and written content creation
6. Digital or social media marketing
7. Event photography
8. Public relations consulting
9. Social media consulting
10. Event planning
Educational Service Business Ideas For Women
If you are proficient at any subject under the sky, you can probably try your hand at teaching it too. Here are a few educational services you can offer to students and others:
1. Tutoring
2. Essay/paper/book editing
3. College application counselling
4. UPSC prep
5. Music teaching
6. Teaching resource creation
7. Online research and writing
8. Grading test papers
9. Virtual assistance to teachers
10. Transcribing and translating
Skincare And Beauty Business Ideas For Women
Many women have a natural knack and experience with skincare and beauty, which makes side hustles related to this field a viable option. The following are some you can give a try:
1. Open a small salon at home
2. Freelance makeup/hair artist for events
3. Beauty blog writing
4. Sell homemade natural skincare products
5. Freelance aesthetician
Other Business Ideas For Women
Apart from the above-mentioned business ideas, there are quite a few others you could try out. The following are some examples:
1. Pet grooming and walking
2. Pet training
3. Yoga instructor
4. Gardening
5. Daycare centre for children or pets
6. Bookkeeping and accounting
Tips On How To Start A Business
The following are some tips that will help you start your own business, no matter what it is:
1. Do your research. This will help you understand the pros and cons of your job.
2. Be patient. The early days at your side hustle can be very gruelling with low returns, but keep at it.
3. Understand your financial situation and the capital you will need to make your side hustle work.
4. Focus on maintaining flexibility through your business, especially if you are doing the bulk of the work yourself.
5. Allow yourself to make mistakes, but learn from them.
6. Maintain clean records of your work. This will not only help with bookkeeping and taxation, but also help you analyse your growth better.
7. Acknowledge the risks involved and make sure you have a safety net in case things go south.
8. Utilise your networks, whether it is family, friends, or communities.
9. Ask for expert advice from mentors in the same or related fields.
10. Stay on top of trends. Follow developments in your field from around the world to ensure you stay relevant.
Conclusion
With job securities going for a toss, many people are now taking to creating side hustles or small businesses to better support themselves financially. For many, wanting to create a business that follows their passion is also a driving force. But while picking a side business, it’s important to go for one that is based on both for talents and passions. It is equally important to create a side hustle that pays well and has plenty of room for growth as the years go by. In case you do want to start a business of your own, talking to an expert or a mentor can be of ggreat benefit. At the same time, creating a good business plan for financial soundness is also vital.