Business ideas to start during Covid-19 Pandemic 2020/2021/2022

Business ideas to start during Covid-19 Pandemic 2020/2021/2022

Business ideas to start during Covid-19 Pandemic 2020/2021/2022 – Covid-19 pandemic became a big issue in the year of 2020.

The business climate of the world has slowed down so much and have been stalling for quite a bit ever since.

Many people have lost their jobs and this is something of a concern. Especially those with families to feed, it becomes very tough if you do not seek some form of income to tide through tough times.

For those who have thought of doing something during the lockdown periods, they may have found a new business avenue.

There are definitely more staying at home and also for those who are more into entrepreneurship, the launch of brand new businesses.

So what are some of the ideas that we think will be great for a covid-19 startup.

Let us start on our article on “Business ideas to start during Covid-19 Pandemic 2020/2021”.


1. Home Baking & Cooking

home baking

Many people started baking and cooking at home.

Baking is something that can help you to sell some cakes and pastries so that you can share them with the world.

Pastries are not too difficult to prepare so starting up something like this is not too tough.

You will still need the influence to push them out to the market though, so it will most likely still need some form of marketing dollars.

This is also something you can just kick start with just an instagram account!

Or you could take the option of Halal Fish and Chips & Wester Food Delivery Singapore.


2. Digital Marketing

digital marketing

Digital Marketing is the future.

The future of getting businesses to grow and have outreach to other people.

Digital marketing is part of the digitization process that the Singapore Government is strongly encouraging.

Are you someone who is good at getting people known, then this is one of the best ways to get it done.

Learn your digital marketing online from courses or YouTube and start offering businesses the means to reach their customers.

Facebook, Google, Instagram and even LinkedIn, there are so many ways to get your business going!


3. E-Commerce

ecommerce

E-Commerce will only get bigger and bigger in the years to come.

Retail is sunset and with E-Commerce, you can sell anything from anywhere.

All you need is a way to market your product and you will be able to sell.

E-Commerce stores need a lot of branding and marketing and this is something you should pay good attention to so that you can do something about it.

Definitely a good idea to start during the Covid-19 pandemic.


4. Dropshipping

dropshipping

Similar to E-Commerce, but instead of building a brand, get something more generic that you can just drop ship.

Dropshipping has become very popular with most business owners who are just starting out because they cost next to zero to run.

You need to really build up a good marketing machine to push out the sales.

Be prepared to spend some money on Facebook to push out your products!


5. Live Streaming Influencer

Live Streaming

Photo by Jesus Loves Austin on Unsplash

Live streaming became a very popular job during the Covid-19 pandemic. During lockdowns, people have nothing much to do but they need to be entertained.

This is something that most people will look forward to.

When you are home and wanting to get entertained and buy something, you look towards a live streaming influencer and you end up buying either really useful or useless things.

Live streaming has become a great thing for people who use this features on Facebook and Instagram to engage their crowds.


6. Education Technology

Education Technology

When the Covid-19 pandemic hit, one of the worst hit are the education sector people.

Education has been badly hit because the best forms of education is when you can interact with the teacher and learn from them.

With zoom classes, it is just not as effective.

But with the covid-19 pandemic going on, one of the best business ideas you can work on is actually education technology.

Education technology helps people to learn even when at home and making things more interactive makes it easier for your child or yourself to learn.

Though it is tough, Singapore businesses are also use Education Technology to assist Courses for 2 Years old and Courses for 3 years old.

Childhood is a good time to Learn To Read Singapore.


7. Cloud Kitchens

cloud kitchen

Covid is the time when many people start to work from home.

Working from home and not having much time to actually cook or not even feeling like cooking will mean a lot of take outs.

For businesses that are trying to expand their online outreach and also their E-Commerce outreach for their food business, they could take on Cloud Kitchen options.

Cloud Kitchen allow you to expand to say a sector of Singapore without having a big presence.

Long story short, with a cloud kitchen operator, many businesses can rent a small space and let delivery people push your product to the area around that cloud kitchen.

This solves high rental problems and is a great way for this covid induced food delivery boom!


8. Consulting Services

consulting

Consulting on how to digitalize your business is boom time now.

There are so many businesses that do not have online presence and they do not know how to do it.

You as a consultant can come in to help them with setting up a website and social media presence.

You could also assist them with rebranding to keep them up to date when it comes to the new way of doing business.


9. Fitness and Wellness Programs and Apps

Fitness App

Quarantine means staying at home.

For those who need to exercise to keep themselves healthy and also to keep themselves mentally sane, they will choose to work out in the comfort of their homes.

You may have some equipment but not sure what to do with them.

Having a fitness app will definitely help those who want to learn and to work out with a fixed regime and help to achieve work out goals.


10. Commercial Cleaning Services

commercial cleaning

Retail shops and Food & Beverages businesses are making sure their venue are safe.

They do not want their venue to become marked as a Covid-19 hotspot.

For those who want to keep clean, they hire professional Cleaning Companies to help them to get things done the right way.

Sanitizing teams come in every other day to ensure everything is safe and clean.


 

11. Pet Products and Services

Pet Products and Services

Working from home and also staying home for quarantine lock downs means more people have a harder time emotionally.

With that, the number of pets being sold and adopted have risen quite a bit.

This is something that will definitely help many emotionally.

With that, expect pet grooming or other products and services to spike and move up because of the increase in number of pets this 1-2 years of covid pandemic.


12. Culinary Classes

Culinary Classes

Work from home, means eat from home.

Everyone who cannot really cook have pretty much learn how to do it to cut cost on deliveries and going out to buy takeaways.

Culinary online classes has been boom town and will likely keep growing as more people take up classes to learn new things.

If you are someone who knows how to cook and cook well, take advantage of that to teach cooking or you could even have a YouTube class on how to do it and make some advertising dollar!


13. Delivery Services

delivery services

Delivery is something that has strongly picked up.

No one wants to leave their home because of covid, even when it comes to getting food or groceries.

Opting to get someone to deliver it to their doorsteps means that you have much more opportunity if you are ready to do the hard work.

Delivery services for food or products are definitely going to build up with the push for more E-Commerce.


14. Online Classes or Tutorials

Online Course

Physical classes are hard to come by, when you have to social distance and constantly having the fear of getting Covid.

Online Classes became the staple for many people. When it comes to classes, you can teach anything.

Things such as an online marketing skill or you might want to teach something to do with home cleaning.

You can run through many different forms of lessons that you can do online.

Great things is, your students are not limited by boundaries and you will also be able to reach out to many many more students than your physical classes can ever reach out to!


Do you have any other ideas for what you can do when you are under lockdown or when you have nothing much to do at home and want to start up a new business.

The fact that Covid-19 is likely here to stay, you should get ready for a new normal.

It might take awhile more for things to be restored to normal but humans as a race will require a lot hard work together to pull through.

K Cloud Accounting is a Singapore leading accounting firm.

Speak to us if you require accounting services or corporate secretarial services.

Thank you for reading this article on “Business ideas to start during Covid-19 Pandemic 2020/2021”.

 

Business ideas to start during Covid-19 Pandemic 2020/2021

26 Business Ideas to Start in Singapore

26 Business Ideas to Start in Singapore

26 Business Ideas to Start in Singapore – Singapore is a very interesting country, also a great place to be an Entrepreneur.

Many years ago, when it was trying to declare it’s own independence, many countries did not expect it to survive more than a few years.

But fast forward 56 years, we have a thriving and respectable economy and nation.

As the years passed, many businesses set up show in Singapore and also many different trades thrived in this small economy.

Many Entrepreneurs have set up bases in Singapore and also young Singaporeans have learnt many skills to start businesses on their own.

Taking advantage of the funding and also the presence of highly skilled individuals, Singapore has lead many fields in the past couple of years and looks to grow to become a startup and business location for many years to come.


What has gotten Singapore to this position are dependent on a few key points:

  • Clear policies set for by the government
  • Hardworking and daring populace
  • Funds flowing in from around the world
  • Strong Financial Hub
  • Position as a trade hub and also Financial HQ for South East Asia

This points and not limited to them are a strong reason why many businesses are still using Singapore as their Regional or Asian Headquarters and for some their Global Headquarters.

Just to name a few:


This really shows that Singapore is a great place to run your businesses and also to set up your company.

Either as a new startup business or as a regional HQ for your growing business.

So let us start now by sharing with you what are some of the business ideas that we believe you can start in Singapore.

We shall start our article on “Business Ideas to Start in Singapore”.


1. Crypto Currency

Hot Business Ideas to Start in Singapore

Photo by Dmitry Demidko on Unsplash

 

Cryptocurrency is something really new to the finance industry and also to Singapore.

Singapore, being one of the leading financial hub is still observing them and trying to figure if we should write them into law.

There are many popular cryptocurrencies in the market and the most popular one is definitely Bitcoin.

Bitcoin makes up the biggest chunk of the crypto market and there are many new currencies also founded and started in recent years.

The cool thing is, Singapore is the top location for businesses to launch their crypto currencies in the world.

For a period of time in the late 2010s, Singapore became the top location for ICO launches.

We still believe Singapore is one of the top places for you to launch your Crypto Currency.

We also believe Singapore will remain and thrive as one of the best financial hubs in the world.


2. Crypto Currency Exchanges

Best Business Ideas to Start in Singapore

Photo by Chris Liverani on Unsplash

 

When there are many ICOs, there are many exchanges.

The fact is Singapore will also be a great place to start an exchange because of the friendly laws here.

Singapore enjoys being the leader in financial industries.

There are many reasons to be at the forefront of new things because we can take this advantage to take a lead.

An exchange will also means that some people who want to have their crypto changed into fiat to be stored somewhere can do so in Singapore.

Singapore has a strong banking industry to support this.

Singapore has been coming up with new laws to govern crypto currencies and we look forward to see how this will allow the industry to thrive in Singapore.


3. Micro Loans / Business Loans

Top Business Ideas to Start in Singapore

 

There are many businesses and there are definitely financing needs.

Not everyone is keen on getting new investors in exchange of shares.

The fact is if they can get some small loan to keep going they will make it.

Business Micro loan startups are extremely popular now because they fill a gap where the banks don’t.

Banks do not want to lend to startups that are not proven to make money or they are too young.

Banks like to have the best businesses that come to them to take loans and this leaves many small startups starving for funds.

For businesses that do need help with planning and acquiring loans and do not know or want to go through the hassle, they could go through Singapore Loan Brokers to get that done as well.


4. Food & Beverages

Popular Business Ideas to Start in Singapore

Photo by Elevate on Unsplash

Singaporeans love to eat.

Many say Singapore is a foodies heaven and i will believe so.

Many Singaporeans or Foreigners are willing to pay top dollar for good food.

There are also many places in Singapore to get yourself some booze.

Food and Beverages such as alcohol are a great way for you to make a good buck if you have a good theme to it!

Find out some of the weirdest ideas and test it out on an audience!


5. Self Driving Vehicles

 

For the new technology of self driving cars, Singapore is definitely a good place to do localised testing.

Singapore also has a very strong sector for such developments.

With many engineering graduates to tap from the local universities, Singapore is a preferred choice for many.

If you are into building the next generation of technology, you can consider going into this side of tech in Singapore.

Definitely a fast growing industry in the years to come and something that can make you good move in the long term.

 


6. Digital Marketing

Great Business Ideas to Start in Singapore

Photo by Merakist on Unsplash

There are many businesses based in Singapore.

The fact that we are a finance industry leader and also a low tax regime, we attract many businesses.

For most businesses, there is still an intense need for marketing.

Marketing is also out of the traditional and into the Digital.

If you are someone who is able to do very good SEO, SEM or Facebook/Instagram Marketing, you will definitely have an edge.

Digital Marketing is still the way to go for many businesses going forward.

But what we do suggest is to have a automation or system to help businesses improve their digital marketing and also for them to do it themselves.

Because even though good digital marketing is a good start up idea, you can still do something that helps the digital marketers!

 


7. Funds Management for High Networth

 

Photo by Chronis Yan on Unsplash

 

There is no coincidence when this news just came on recently: Google co-founder Sergey Brin’s family office to open in Singapore

The fact that Singapore has one of the best tax regimes and also is a very politically stable place in this region of the world makes it a great spot for wealth.

Most of the rich in the region will place their cash right here in Singapore.

Either to keep them away from their own government or to ensure that deflation of their home currency will not affect their wealth.

Singapore also has one of the highest concentration of highly qualified financial personnel, attracted to Singapore for this very purpose.

Fund Management is up and coming and will continue to grow as Singapore becomes one of the biggest hubs for wealth in the world.


8. Education Technology (EdTech)

Photo by Robo Wunderkind on Unsplash

 

Singaporeans spend a ton of money on their children’s education.

Education technology is definitely a good new direction for anyone who wants to get into the game of education in Singapore.

With Covid-19 causing more difficulties for face to face classes, Edtech is the way to go right now.

If you are able to come up with a good Mobile Application for your business to run anywhere and any time, you will gain that extra edge over your competitors.

We are partners with Originally Us, Singapore’s best Mobile Application Developers, let us know if you need an introduction.

There are also businesses in education that are meant for the young especially in Phonics Singapore and Singapore Playgroups.


9. Live Streaming

Photo by Jesus Loves Austin on Unsplash

 

In the generation of Social Media Marketing, Live Streaming on YouTube and Facebook has become so popular.

The live streaming industry has created many great sales people online.

You can sell virtually anything if you are entertaining and fun.

Most end up selling products of basically E-Commerce items.

Live Streaming for sales has become a very popular means of making money especially during the lockdowns in Singapore and around the world.


10. New Age Food Sources

Photo by Dan Gold on Unsplash

 

Why do i say new age, because there are so many ways that you can produce food now.

There are new technology that are coming up from 3D printing food sources such as meats and vegetables.

In Singapore there is a lot of funding going around to secure Singapore’s food sources.

So as a country, we are sure to be keen to work on ensuring that Singapore is able to get some form of food independence.


11. Cleaning Services

11. Great Business Ideas to Start in Singapore: Cleaning Services

Weird choice to have cleaning services listed right?

But cleaning is an industry in Singapore that has been very reliant on manpower and something that needs to be updated.

Most cleaning industry players use elderly staff or foreigners to do the work but there are still many methods for you to save up on manpower cost.

Innovations in cleaning and also more efficient cleaning methods can still help you to grow this industry.

Our friends at Cleaning Hero can help you in Singapore.


12. Regional Business Coordination

Best Business Ideas to Start in Singapore: Regional Business Coordination

Singapore is currently housed in the middle of the next engine of economic growth of the world.

South East Asia, home to Indonesia, the 4th largest population in the world is likely take off in this coming decades. Together with economies such as Vietnam and Malaysia.

Singapore is the core player for South East Asian economic growth and this is one of the best things that you can do in Singapore.

By being present in Singapore and having contacts in the region, you can help to do some production work or even some form of manufacturing work before they are shipped to the world from Singapore.

Coordinating for all forms of business and taking advantage of the regional growth is one of the best ideas you can think of!


13. Air Conditioning Servicing

Brilliant Business Ideas to Start in Singapore: Air Conditioning Servicing

Surprised to see this on the list?

This work needs some skill sets but not crazy amounts of it.

But guess what is crazy, there are SO MANY Air Conditioners working in Singapore at this very moment because of the high daily temperatures of Singapore.

With that many Air conditioners turned on, comes the need for servicing.

Servicing also has to occur every 3-6 months which is great recurring income for the business owners!


14. Mobile App Development

mobile app development

Almost every other thing is purchased or transacted over mobile right now.

The mobile phone has become ubiquitous and there are many applications that take advantage of.

This is one of the best things to work on and also to have for your business.

Businesses can grow with a good well developed mobile application.

There are many good mobile application developers like Originally Us, they are able to do IOS App Development and Android App Development.

Pick up the skills from online platforms or even YouTube to become a developer today!


15. Graphic Design

graphic design

Singapore is heavy on marketing.

With many businesses around Singapore and needing their work to be placed in front of eye balls, Graphic design has become very important.

To have good graphics means to have good attention and good attention means good marketing and more leads and more income.

Good graphic designers are not easy to come by and people are willing to pay top dollar for such good work.


16. Interior Design

interior design

There are many HDB apartments and condominiums in Singapore a small island that fits more than 5 million people.

The demand for interior designers is always high and the need for such services will only grow as the young and affluent spend more on design interior styles and looks.

If you are someone who can design well, this is a good option to start off on.

Get yourself trained in drawing interior design work and get someone to do the contracting work, you will be rolling in dough very soon!


17. Internet Cyber Security Consulting

cyber security

Singapore is heavy on IT infrastructure, with this comes the risk of getting cyber attacked.

Cyber attacks are more rampant and can cause serious damage to your business.

Running a business means you need to ensure good running operations and if you are high by cyber attacks, things can get nasty.

Cyber security is currently very hot and good business with much demands for the protection work for many businesses.


18. Grant Consulting

grant consultancy

Singapore government likes to incentivize businesses to take on new technology to improve productivity and the likes.

But grants can be quite difficult to get right. With most business owners not having the time or for some the level of education to get the proper documentations done, it can mean missed opportunities.

This gives rise to grant consultants that can help with drafting grant contracts and getting things done for the business owners.

 


19. Debt Collection

debt collection

Where there are many businesses, there are definitely those that do not pay up for their goods and services.

When you do not pay up, there is a need for debt collection.

Debt Collection has become a very popular field this couple of years with many business owners defaulting on payment.

This is something that can bring the debt collector good money but it is very hard work.

One needs to be careful when doing debt collection though, because the law does have anti harassment clauses and debt collectors need to be careful of their methods.


20. Pet Grooming

pet grooming

Singaporeans love their pets!

This is one thing that we see very common in Singapore.

With so many different beautiful breeds of dogs and cats in Singapore, the pet grooming business is bustling.

For someone who loves pets, you could also set up a home based or if not a neighbourhood based pet grooming business to help this owner keep their pets in tip top condition.

This will need some training and also a steady pair of hands. You wont want to hurt this cute little furry animals.


21. Bookkeeping Services

bookkeeping services

With many business, comes the need for accounting and bookkeeping services.

Bookkeeping is something that is not too difficult to pick up but very time consuming.

For those with accounting background, one could pick it up quite fast and for most businesses in this field, this is done freelance before becoming a more solid business.

One needs to ensure that their work is done according to the laws of Singapore and also not to miss out any important components when doing the Singapore Bookkeeping Services work.


22. Valet Services

valet services

 

Love driving? Love driving nice cars?

Singapore is a capital of nice sports car with many investment bankers and successful Entrepreneurs around.

Valet services for driving home someone who is drunk is probably one of the fun things you can do.

Get your hands on a Lamborghini or a Ferrari and you will enjoy this job so much!


23. Courier Services

 

courier services

Last mile services are something that has picked up so much with the rise of E-Commerce.

If you are someone who is in the courier line, you will definitely see a bigger boom going forward, as more and more people only shop online right now.

Retail is slowly becoming something of the past and if you are doing E-Commerce, you will need someone to courier your products to the customer.

Courier Services in Singapore definitely still has space for growth.


24. Translation Services

translation services

Translation services is something that is popular in Singapore.

The reason they are popular is also because there are many people who come to Singapore to take advantage of the laws here and will need translation of official documents.

For the Japanese or Korean businessmen to go around meeting clients, the translator will also be a very useful person to make sure everything was discussed properly.

Translation services will definitely be a boom sector going forward with more activity coming to South East Asia and Singapore.


25. Video Editing

video editing

With every marketing video put out, comes the need of someone who is good at doing up video editing.

Editing video is not something that is easy. You may have shot something good but if you do not edit it well, you will have wasted your efforts.

Video Editing is something that takes time and also talent and there are very few with such good talents.

If you are good at it you should set up shop and do video editing for businesses that wish to market their products or services.


26. Electronics Repair

Electronic Repair

Singapore is the land of electronics.

Most people here own a smart phone and also laptops.

When they drop it or something goes wrong from usage, they will need to seek your services out for electronics repair, you could do this at home even.

A good idea for someone who loves handy work and has time to spare to troubleshoot the problems for your customer.


 

Singapore is one of the top locations in the world to start up businesses that are innovative and also with financial inclinations.

We at K Cloud Accounting work closely with our customers to deliver high quality accounting and corporate secretarial services.

If you require assistance in other help such as Singapore Corporate Gifts or Business Loan Brokering.

Speak to us now so that we can assist you with any help you need for your business.

26 Business Ideas to Start in Singapore

7 Strategies and methods to grow your business in Singapore

7 Strategies and methods to grow your business in Singapore

7 Strategies and methods to grow your business in Singapore – Everyone business owner face the same problems. How do they grow their business so that they will be able to improve their revenue and end up with more profits.

Business in Singapore is tough, very tough. For such a small population of people, there are many highly talented people competing for the limited pie of business.

There are many persons who are highly educated and able to produce good work at affordable prices.

Lets start on our article of “Strategies and methods to grow your business in Singapore”.

  • Grow your marketing (especially digitally)

Marketing is something that everyone thinks they know but not everyone does it well or efficiently. It is not just doing Facebook or Instagram post and then leaving it there. Neither is it doing a boosted campaign and expect everyone to see your post and come to your business.

You will need to motivate people to come to your place and also to show them there is social proof that you are doing well and a lot of customer enjoy your services or products.

This is where influencer marketing came about. The new age marketing methods uses a lot of social proof to get things moving along.

Online marketing such as Singapore SEO Services are definitely something that can help you to stand out amongst the crowd.

  • Grow your outreach

There are various ways to build an outreach. Outreaching to customers and potentials is how you keep your business growing.Social media is one of the main ways to drive outreach and to engage your customers.

Having post that will help them to understand what you are doing. The post also needs to be interactive.

Blogging is another way to do just that. Blogging helps you to educate your customers, especially if they are not sure of what is going on.

Outreach growth builds a funnel of potential customers that will convert to sales eventually.

 

  • Grow your public relations (PR)

Will you trust someone who has been on the newspaper or on the radio before or will you work with someone that has not?

Everyone likes to work and talk to someone who has some fame. Fame for a business also helps it to grow.

Did you know Public Relations or PR can be done by a PR professional who is able to assist you to gain more attention from the media.

This helps you to grow your business and builds up a stronger base for you to jump off from.

 

  • Take loans to speed up growth

Most businesses try to avoid doing this. Because they see loans as a risk to their future. But most business owners do not understand that if they have a plan and the plan needs funds. Taking a loan is probably the fastest way to get there.

With the pandemic causing havoc in the economy, most corporate loans are at record low interest rates right now.

With close to zero interest rates, most business owners should take advantage of such loans to grow their business outreach or to speed up their internal transformation plans to keep up to the times.

Getting a business loan consultant in Singapore can be a great way for you to gain access to loan much faster and also to maximize the amount you can go for while also reducing the interest rates and fees.

  • Network with more business people

Nothing beats having a personal relationship with the potential clients of yours. There are definitely people who are out there that you will like hanging out with and doing things that are exactly what you need.

Will you prefer working with someone you know personally versus finding them on Google?

Networking is one of the best ways to meet people, everyone wants to know more people and to build a strong network of contacts for business or even personal purposes.

Joining groups that have a business slant or even for those that have common interest in say cars or community work will help you to meet more people!

Popular ways of networking is also to join trade or cultural associations. Associations gather people of the same walk of life together.

They will be able to share some ideas and also their personal network with you so that you can improve your outreach for your busines.

  • Find a trusted and proven mentor

Running a business yourself when you are new to this world is very daunting. You may not know what is going on or you might just have the basics and within a year get stuck at where you are.

Having someone who can guide you will be great for your business and personal future.

A proven mentor is definitely someone who is much more experienced than you and also someone who has success in growing their business.

 

  • Be known for something

The fact for most businesses in Singapore is that they do not care much about how others see them.

If you are known to be the cheapest, be that.

If you are known to be the fastest, be that.

Work on differentiation and you will be outstanding!

 


K Cloud Accounting is a Singapore based Accounting firm and Bookkeeping Services Provider.

We use Xero Accounting Software to assist our clients in their accounting needs.

If you require help in your business management, speak to us.

We work closely with our customers to provide Bus Rental Services Singapore as well.

We also work closely with many business consultants to assist businesses in growing and also improving their businesses to reach greater heights, speak to us for a recommendation!

Thank you for reading our article on “Strategies and methods to grow your business in Singapore”.

7 Strategies and methods to grow your business in Singapore

5 Ways to Starting a Successful Business in Your 20s and Young

5 Ways to Starting a Successful Business in Your 20s and Young

5 Ways to Starting a Successful Business in Your 20s and Young – Your 20s are definitely the best time of your life. This is the point in life when you are regarded as an adult and therefore no more or far lesser adult supervision to do exactly what you want in life.

The 20s is also the point where you move out of your parents place to live in the college halls or your own apartment with some friends.

This is also the age where you start to explore many things in life such as your career, sexuality and also many other parts of life that will form the foundation of who you will be in the coming years.

Some of the most successful businesses in the world are also founded by business owners and founder in their 20s.

Take for example, Bill Gates and Mark Zuckerburg, two of the richest people in the world currently. They started their respective businesses Microsoft and Facebook in their colleage dorm rooms and they made them in multi-billion dollar businesses that dominate their industires.

But the question that most people will like to ask is, how do you actually get something going on in your 20s when you have other things that are important such as schooling or making a living with little to none of life experiences

Let us now start sharing on “Ways to Starting a Successful Business in Your 20s and Young”.


1. Start building it as a side hustle

Many people think that when they found a business, they have to treat it like a baby and spend all their time on it and spend all their money on it. Further from the truth, there are certain products or services that will take time to grow and if you do not have the luxury to spend all your time and effort on it, why not just start it as a side hustle.

Side hustles are not just a great way of making some side income, it is also a great way to start a business.

You have no idea if this idea will work out at all and you do not want to drop your school or drop your work just to do something that is not verified to work.

Starting a side hustle also ensures you do not have the financial stress of not having something to eat.

Work on it at night or on the weekends and when you see that it is working out, drop out or quit your job to work on it!

 

2. Stop the drinking, the smoking and the partying

Fact is, most of the successful people do not do any of this in their 20s or even if they do, they cut it down to the minimum.

How many times have you woke up the next day after drinking and boozing to feel tired out and needing a day to recharge before you are 100% operational again.

This is something that a successful entrepreneur will not do.

The successful business person will be grinding and getting more things done and solving more problems while the rest of getting hung up the next day.

So cut this bad habit off before you even consider working on your business.

But that being said, it doesn’t mean that you cannot party and drink a little to keep yourself emotional sane!

 

3. Learn Digital Marketing and Social Media Marketing

You do not need to be the best in it but you need to be good in it.

The point is to have an idea how it works and how you can strategize to take advantage of the new form of marketing to grow your business.

Traditional methods do not work anymore. Brute force marketing through dumping marketing dollars are also crowded out by others that have more budget than you do!

The most important skills being Facebook, Instagram and maybe a little bit of SEO.

Read more or watch more YouTube videos on such topics.

 

4. Being cheaper or better 

The fact of being young is that you do not have much of an overhead, if you do not have much overheads, you can charge lesser.

Charging lesser gives you a good start so that you can get a place in this crowded market place.

For someone who has no portfolio or background to speak of, being cheaper is one of the best way to kick start your business.

But don’t forget to up your price as you get better at doing what you do. You deserve to be paid your money’s worth.

And as you get more popular in your market and better at what you do, you will end up having a good customer base to make good profits from.

 

5. Find and meet a proven mentor

You are new to business, other than the gurus on Facebook and YouTube, you likely won’t learn much about regular business problems.

This is where a proven mentor is great for your business growth and also personal growth.

Finding a mentor is not easy because it is just not you find a good mentor to begin with, the mentor must also choose you.

A proven mentor is someone who has achieved success themselves and have something to share that will improve your knowledge or decision making skills.

You do not necessary beg them to be your mentor, head out there and network more, you will eventually get to meet that special someone that will set you apart in your business journey.

 


K Cloud Accounting is a Singapore based Accounting Services firm that is able to assist you with your business needs in Singapore and the South East Asia region.

We work closely with our media partners as well as loan partners to provide value added services.

Our loan consulting partner, Avant Consulting works closely with SME firms in Singapore to provide loan consultancy.

We also collaborate with our partners at Originally Us, Singapore Top Mobile Application Development Firm, to help our customer get access to the best mobile app development work in Singapore.

If you need help to set up a business in Singapore, speak to our consultant at +65 98638665 today!

Thank you for reading our article on “Ways to Starting a Successful Business in Your 20s and Young”.

 

5 Ways to Starting a Successful Business in Your 20s and Young

15 Reasons to start a business in your 20s & Young

15 Reasons to start a business in your 20s & Young

15 Reasons to start a business in your 20s & Young – Aspiring to be an entrepreneur? Haven’t found the brilliant bright idea yet? A friend came by with a simple idea to sell something, should you take it up? Or maybe you should sit around and wait till you find the “Perfect” idea that can take over the world only to find out that someone in the UK, China or Japan has already started something similar.

My take on this topic is your should take up opportunity that comes you way and evaluate it on the way.

One of the best times to start your business is in your 20s (young in terms of human age but old enough to make good decisions) and we will like to share on this topic below base on some personal experience and also based off the experience of many who have became successful business man and entrepreneurs.

There are definitely many benefits and possibilities when you start your business young and in your 20s.

Waiting did not make the world greatest Entrepreneurs, starting early did. If you are someone who has a dream to be a successful business person, read on.

Let us now share on the article on “Reasons to start a business in your 20s & Young”.


1. University College degrees aren’t worth as much as in the past

In the 21st Century, the use of a degree has fell so much it doesn’t really matter anymore if you have a degree. Unless you are trying to get a job role that will require specialized skills such as those of a lawyer or a doctor, you will still see the value in a College education.

But for those that do not require a certificate, for example those in the business related niche, marketing or business degrees do not hold that much weight anymore.

Fact is someone who has self taught yourself marketing skill sets online and practice them as an intern or taking on freelance jobs might end up a better marketer than someone who has studied the 4 Ps and had not had a chance to actually put them into real world usage.

College degrees have basically became an entry ticket into your first job and the job experience and also what roles you have covered in your first job places much more importance than the actual degree or grades you achieved.

For those with degrees from very common schools such as accounting or business or marketing, you might find your degree not worth as much as those that require more hands on experiences that are harder to come by.

Gone are the days when you will definitely make it big with a degree.


2. Risk Levels are much lower in your 20s

This is definitely one of the key things that i as a 31 year old will share with you that i do not regret starting in my 20s. As you age and as your start a family and elderly parents get on with age, comes responsibilities.

The fact is that some people may have had the idea of starting a business when they are young but they put it off for safety and the comfort of employment. When they realize that this is something they don’t want to do forever, it might be hard for them to leave employment.

The first few things that will stop you is probably the bills you have to pay. For those in their 30s or their 40s, the likelihood of owning a house on mortgage or a car on loan is high. For those with children and many mouths to feed, it makes it even tougher than before to even think of trying anything new at all.

This means that you will have to make enough income every month before you could even consider quitting a full time job.

This stops 90% of people in their 30s or 40s from ever starting a new business and embarking on entrepreneurship at all.


3. Energy Level is much higher 

No one ever shares with you how tiring entrepreneurship can be.

There are many things that you have to take care of, such as the marketing, the accounting, the sales and also the hiring.

Someone who has no experience will have to learn on the job and learn everything from scratch.

When you reach the age of say 30 or 40s and you have children. Do you think you will have the same energy level of a 20 years old to pick up all this skills and at the same time caring for your 5 year old child?

Energy level also decline as you age and the older you are, the easier you will get tired from working long hours or having to socialize more to get more leads for your business.

Energy level also affects how long you can last in getting your business up to track.

If you are tired and wear out by the constant working and entertaining, you will end up giving up much earlier than you should.

To keep yourself going on and on for your business, your youth is extremely important and this is something that we will take close attention to.

For someone in their 50s or 60s, your body may not be able to handle the long hours and the outdoor time anymore.


4. Motivation Level is much higher

Almost every other day an entrepreneur gives up the fight and heads back to employment.

The fact is entrepreneurship is not for everyone. And for those who do not have the means of staying long enough in something, you will want to give up real soon.

Motivation to keep going can separate a failure from a success.

Sometimes, certain products or services just need to take time to hit the volume where it will actually work out.

Motivations to keep going on will fall as more responsibilities pile up and people have higher expectations for you as you age.

Also when you are young, more people around you will try to keep your going and motivate you. But when everyone is settled down, your friends may tell you to quit and stop trying!


5. More time to bounce back to employment

Everyone likes a good back up plan. Not all businesses succeed and not everyone is meant to be a business person.

If you start your new business young and you fail young, you still have time to head back to find a job with your college degree.

For some businesses, they might look at your resume as more of a gap year where you figure yourself out and will not treat it as much.

But if you are starting late in your age and try to find a job after, you might find it hard to get back.

Also, you know that when all else fails, you will not have problems finding a job as a young person.

Also going back to employment, after getting more experience and funds, you could even try again!

One of the few good reasons why you should be starting your new business when you are young in your 20s.


6. Safety nets are still somewhat in place

Safety nets are really what will allow you to even start a business in the first place. Starting your own business when you are young gives you an extra safety.

If your parents or elder siblings are still around and making good income, they might be able to still keep you in their house and paying for your utilities while you try to figure your way around your new business.

For those who have rent to pay and car payments to look after, they might not have this safety net to let them start their businesses in peace.

When you are older, your parents are also much older and more concerned about retirement and may dissuade you on pursuing your business dreams.

Even The Rock Dwayne Johnson moved back home when he was younger because he failed. Right now he is the leading actor and also a Serial Entrepreneur.


7. Timing to start a business will never be perfect

“I want to wait till i think up the most awesome idea”. Sound familiar? I’ve heard this line at least a hundred times. Trust me, they all end up not starting something.

There will never be a perfect time to start a business and never a perfect idea. You jump into it and start putting out fire from day one.

After multiple weeks or years of putting out fire, you might find yourself at the top of the game or pressing the restart button.

Fact is you might change your ideas or start new ideas along the way as you learn more about your industry or learn more about new ideas out there in the highly innovative world.

Pivoting like what many founders will like to call it is better than never founding.

Procrastination will be your biggest regret in life if you do not take the leap early.

If you want to start something on your own and have always dreamed of being a boss.

Its now or never, never wait and never ever go for second best.


8. Being young and new is great for innovation

Being new to the game is a great thing. You can challenge the norm and start new things and try new things that your older counterparts have not tried.

The young are usually more likely to push new barriers and get into newer way of doing things and this is great for business.

Innovation that improves your processing time and cuts cost will always give you the advantage over others in this entrepreneurship game in the long term.

For those who have done things in a certain way and see its benefit might find it hard to change.

Change is the only constant and we should always look towards making chances in life where we will improve either the productivity or a better standard of living.


9. Failing forward and Failing better

Most people seem to think that familiar is the most sinister thing one can experience.

Most do not understand that with each failure, the founder learns something (unless of course you are someone who likes to commit mistakes over and over again.

Failing can be a very sobering thing and a great learning opportunity. Especially if you are someone who will sit down and analyze why you failed in the first place.

For those who fail forward, they will not make the same mistake the next round.

Starting your business in your 20s gives you more time to fail forward and fail better.

This leads to a more successful business venture later in your life and better success in your entrepreneurship.


10. Older entrepreneurs like to support young entrepreneurs

Ask any business owner in their 50s and they will say they will love to support you as a young chap trying to get on your feet.

They have been there and done the same thing and they know how tough it is to be running a business when you are young.

For someone who is running a business in their 20s, you have no contacts and no experience, things are really tough and the older business owners will actually be very supportive of your plight.

They will prefer to work closely with you to give you this chance.

But do not squander it for yourself or others, they might end up not trusting you people if you fail them.


11. Momentum, Momentum, Momentum

Nothing stops people from getting things done than the very heavy I word, Inertia.

The fact is that someone who starts young have a much bigger momentum in place to keep going and to keep going upwards.

For someone who has not founded anything when they are young, the inertia to start will be so great that taking a nap might seem more appealing than being the next potential Billionaire!

When you think about momentum, when it comes to even stock trading, it takes compounding to get more money.

Same for you, your experiences, your contacts and your funds will compound with time as it builds up momentum!

Momentum keeps things going and it makes it hard to stop. This is one of the good reasons to keep going and start moving!


12. Easier to find mentors to guide and help you

Back to point 10, older entrepreneurs are more likely to want to work with a young person who doesn’t really have a fixed mindset yet.

The problem with many people as they age is not that they are not willing to learn but how hard it is to unlearn something they have already been doing for many years.

Habits are hard to break and this is something mentors will look out for, this is not the key to getting a mentor but youthfulness helps!

Mentors can make or break someone who is doing well. If you have someone who can teach you what to look out for and what to avoid, you can get there much faster than others.

One of the definite best reasons to start your business young in your 20s


13. There’s no “perfect” idea

The fact is that almost all different form of problems and ideas to solve it has come up once or twice or ready.

You cannot exactly rework the wheel and say that you solved an age old problem unless you are someone who is sitting in labs and testing new ways of cracking the Covid-19 virus.

But as someone who is based at home and trying to think up of great new ideas for a start-up business, i can assure you, you are not the first to think up of an app that is use SOLELY for this particular purpose and think that it’s going to make you a millionaire or the next Mark Zuckerberg.

Don’t wait, if you think the idea makes some sense, or you are offered an opportunity on a brick and mortar business, take it up!

Make your first pot of gold first then maybe looking into something that might revolutionize things.

Those who are always waiting for the perfect idea, just move on from them, it will never happen!


14. You figure out what you are good at and what you are not 

The fact that you are young. You think you are good at everything.

The pride and the ego of youth makes you feel like you are a great person at marketing, you are great at leading a team.

You also think you are great at sales.

But the fact is you will eventually find out that you are only good at just that one or two things.

Others will have to step in to assist you where you have weaknesses and this is how it works!


15. You figure out what type of Business & Life Partner you need

Starting alone means you can move fast.

But if you really want to move far, you need to have good business partners to cover your weaknesses.

Along the way, you find out who is your perfect business partner and will do better with them.

Along the way as you date more people, you will also figure out, as an entrepreneur, who is suitable for you.

Understanding and kind is what an entrepreneur needs.

For you will have to burn many nights to bring your business to where it deserves to be.


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Thank you for reading our article on “Reasons to start a business in your 20s & Young”.

We will strongly encourage you to start your business young and in your 20s.

15 Reasons to start a business in your 20s & Young