10. Start a Consulting Business
- Estimated income: around $18-$30/hour, depending on the industry and skillset
- Requirements: skills and experience in a particular field
Consulting is the best business idea for people with advanced knowledge in a specific area. It helps companies across industries solve problems, including marketing, operations, and human resources.
One example of a successful consulting business is by Neil Patel. The SEO expert offers consulting services in content marketing, paid advertising, and social media. They have worked with 5,000+ companies.
Unfortunately, new small business owners offering consulting services may struggle to find clients. To start, focus on generating leads through LinkedIn and cold email pitches during the first six months to grow your pool of prospective clients.
Also, make sure you have a dedicated email for business. Sending letters from a professional email address will increase your chances of success.