The young generation no longer wish to work under a company or a boss for the rest of their lives. Rather, there has been a massive boost in the form of start-ups in the business world in the recent past. More and more young people are quitting their jobs to start off new companies with hopefully, a million dollar idea to push it across. While some have been immensely successful, others have failed miserably, leaving youngsters with nothing but the clothes on their backs. However, if you too are an unsatisfied employee looking to start off something new, here are a few tips of a few companies we found to not require a significant amount of initial investment and won’t leave you penny less should it by any chance fail.
Unlike selling goods or producing them, a service based start-up requires less initial investment. This can range from being a driving instructor giving cheapest driving lessons, to a dance teacher to a cleaning business. This form of business only requires a very small initial investment and as the client base builds up and the business starts to boom, the other additional necessities such as an office space and fancy equipment can be thought about. A manufacturing plant on the other hand will require you to have the necessary equipment from day one and will cost a significant amount of money in setting up, let alone the purchase of raw materials and labor to handle the machines.
A consultancy firm
Consultancy come in all shapes and sizes. It can be done in any field and in almost any industry, a consultant is necessary for one thing or the other. Therefore, if you are qualified in a certain field, push forward in that same field and strive to become a consultant who works to his own hours. Consultants have a tricky job of managing multiple projects and also the uncertainty should a project fail, however, they have the freedom of using their knowledge in multiple places at once rather than the single company one is working for. However, the only hitch with starting a consultancy firm when you are young is that you will not have the experience the older generation has and thus, your knowledge may not be of sufficient use to be of any value on the market as a consultant. Thus, if you starting a consultancy firm and does not have much experience on the field, partner up with someone who has been working in the business for years and knows the tricks of the trade. While you help with the new technology, they can help implement them in the actual field.