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Business Ideas In Beauty Industry
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How To Come Up With A Business Name
The promise of a startup lifestyle includes trading the 9-to-5 for a flexible schedule, creating a calendar under your control, and focusing on the personal over the professional. But behind the laptop setup on the beach, what does real-life business have to do with it?
The main condition of the life business is that it allows flexibility and profit to live according to your terms – whether you share the world, if you have more time to spend with loved ones, or both. Therefore, what business life looks like in practice can vary from person to person.
However, there are some great lifestyle business ideas to explore, including creating digital products, selling services as a freelancer or consultant, launching an e-commerce dropshipping business, becoming an influencer or creator, and developing apps as an indie hacker.
Digital products are intangible goods that can be sold online in infinite quantities, unlike physical products that run out and require inventory to be replenished. From online courses to ebooks, you can earn money from digital products if you find the right channel to sell and validate your idea. Digital products have many advantages, including low overhead costs, high profit margins, and hands-free response through automation.
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Watch the How to Sell Digital Products video for a deeper understanding of how to validate your digital products, start selling, and bring in passive income.
Another lifestyle business idea is freelancing or consulting for clients. While freelancing and consulting both involve providing services to clients, they are slightly different.
Clients pay freelancers on contract for their skills and experience, whether you’re a freelance product designer who can create prototypes for a digital app or a freelance writer who can write articles for publication. Start freelancing by creating a portfolio of work and advertising or posting your work directly to potential clients.
If you are creating a portfolio for the first time, look for jobs on freelancing marketing such as Fiveer and Upwork. While these marketplaces generally do not offer competitive pricing and still cut each transaction, you can increase your rates and eventually move away from these platforms after you have worked to index.
Beauty Industry Growth
Clients pay consultants on a contractual basis for their expertise in a particular field or industry. This can be anything from knowledge of process improvement engineering to expertise in increasing employee retention within the company. A client who hires a consultant has a business or personal problem and wants someone with expertise in this area to provide targeted advice to help solve it. Consulting work is harder to find than freelance work. However, if you have deep expertise in a particular area, you can create an online presence – website, social media, podcast – that showcases your expertise and brings in clients. Many consultants work on networking and finding clients through referrals and word of mouth.
Freelancing and consulting in general allow you to work from anywhere, while working with multiple clients. This provides a valuable level of flexibility when building a lifestyle business.
In 2019, Daniel Vassallo left his six-figure job at Amazon after eight years there. Despite a large salary, repeated promotions, and high praise, his motivation has declined over the years. Instead, he turned to things that could bring internal motivation: “I write code, sell my creations, plan my route.”
Since then, David has been completely independent. Instead of earning from just one job, he is building a “portfolio of small bets”, generating income from various sources.
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You will not find Daniel jet set around the world with his life freedom that he can afford. Instead, he stayed in one place – woodworking, building cabins, and spending time with his family while exploring his many passions through work.
From posting videos on YouTube to writing for audiences on Substack, we live in the age of creators. A career as an online content creator is now in high demand – according to a 2019 survey, 54% of young Americans, given the opportunity, would become an influencer.
Stereotypical images of influencers include young creatives dancing on TikTok or teasing YouTube. But there are countless original creators, from artists and cameramen on Spotify and Snapchat to virtuosos who use their expertise to win over audiences on blogs and podcasts. To begin your quest as a creator, consider your passions and interests and the best way for you to share them with the world. This could be hosting a podcast, starting a YouTube series, or writing a blog.
Top creators make millions through platform fees, brand deals, affiliate marketing, and sponsorships. This is often unattainable for the average creator and there is increasing talk of middle class creators. However, small creators can still make money through creator funds on platforms like TikTok, YouTube, Substack and Snapchat. Additionally, as influencer marketing becomes more expensive, brands are turning to sponsoring and partnering with micro-influencers instead of Internet megastars.
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By continuously creating content and growing your audience, you can increase your income over time as a content creator. Becoming an online creator or internet influencer can be done on the go, providing the flexibility to generate income that supports a flexible lifestyle.
Rethinking your 9 to 5? Do you have a life business idea? Read our resources on how to start a lifestyle business in 10 steps – from defining lifestyle and business goals to validating your idea.
E-commerce business is an opportunity to create and sell something that makes life better for buyers. However, between packing orders and shipping packages, standard e-commerce businesses often do not provide the degree of freedom that allows for a flexible lifestyle. That’s where dropshipping e-commerce can provide an advantage.
Dropshipping is a way of fulfilling orders where the online store does not keep the inventory it sells. Instead, e-commerce stores place orders with third-party suppliers who later ship them to customers.
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Watch our How to Start Dropshipping video to learn how to start a dropshipping business with an internet connection, a small investment, and some marketing know-how.
If you search online for dropshipping, you will find paid resources that claim that dropshipping is the way to make money for millions of people. This is not the case. While dropshipping has its advantages, it will take time, effort, and some investment to find winning products, meet the right suppliers, and advertise your business to prospective customers.
Read this free dropshipping blog series for information and tips on how to start your own dropshipping e-commerce business.
However, many of the advantages mentioned about dropshipping are mostly true. Starting a dropshipping e-commerce business eliminates the need for a physical location to maintain inventory, fulfill orders, and earn returns. In addition, the dropshipping business takes the upfront cost of acquiring the inventory. By removing these barriers, your daily life can involve the non-physical aspects of running an e-commerce business – marketing, sales, customer support, and creative work. These benefits make dropshipping a viable option for a lifestyle business that allows you to live and work from anywhere in the world.
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When you think of technology applications, your mind probably thinks of the likes of your phone—Instagram, Strava, Headspace, and other applications that are worth billions and employ hundreds or thousands of people. Many of the companies behind the household name applications grew by raising funds from venture capital firms that helped them find product-market fit and motivated them to grow hockey-stick.
All over the internet there are thousands of apps that are closed by small businesses or teams with a small but large number of paying customers. The creators behind these apps are independent software developers known as “Indie Hackers”. For example, the most beloved online game of 2022—Wordle—was created by one person and later fetched seven figures by The New York Times.
While a company-backed app may need millions or tens of millions of users to be considered successful, an indie app may need dozens of monthly paying customers for the entrepreneur to fund their lifestyle. If you are a software developer or have technical skills, you can uncover problems, validate your ideas and create apps for people to pay for. Once you’ve created an app as an indie hacker, you can continue to improve the app by fixing bugs and adding features, as well as working on marketing and stories to grow your audience. Oftentimes, a passion project like this can require less than 40 hours a week to work, making it the perfect lifestyle business.
At the end of 2019, Marie Martens and her partner, Filip Minev, decided to chase their dreams. After experimenting with a few ideas and getting interested in the idea of starting their journey, Marie quit her job in January 2020. Marie and Filip left their home in Belgium.
