You did your best, worked long, hard hours, and lived frugally. And yet you still didn’t prosper because it’s hard to make a living from a minimum wage job. You then decided to redouble your effort, but that didn’t work out too well because you only made marginal improvements to your income. Next, you decided that you weren’t getting paid what you were worth because you were working for the wrong company. Unfortunately, after getting hired in another company, you found yourself in a similar situation. Finally, you decided that it was the industry, so you went back to school and juggled your class and work schedule for a few years. Unfortunately, after you graduated, you were overqualified for most jobs and the intense competition in your line of work made it almost impossible to find any good job openings.
Well, if you’ve taken this route, or one similar to it, there is one option—work for yourself.
Here are four ways of earning a handsome income if you love to work hard but have not yet found a company or an industry that will reward you for your initiative and persistence:
- Sell a proven line of products.
If you don’t have a brilliant concept idea, then the next best thing is to sell a proven line of products. However, you need a more than a great product to be successful in the retail business; you also need a brand name and a verified business process that has stood the test of time. A franchise will give you all these benefits. Some of the best franchises to own are retail businesses. They are not only highly profitable, but provide a steady workflow, and you’ll also get plenty of assistance from the franchisor on how to operate a successful store.
- Sell your own unique line of products.
Building your own store can work if you have something unique to offer the world. You need to have a niche business. For instance, if you have a knack for making lovely candles or exquisite soap or gorgeous baskets, then you have an unusual product that will eliminate the competition. In 1976, when environmental activist Anita Roddick started her store in Brighton, she only sold 25 natural beauty products. Now there are more than 2,500 Body Shop stores worldwide.
- Sell via the Internet.
If you have a knack for techie stuff, then you can build an online store. You will have to do a lot of research to figure out what products to sell, what payment processor to use, and how to attract buyers to your e-commerce store, but the good news is that when it comes to setting up your website, you don’t have to hire a computer programmer. You can build a store using an ecommerce platform for a set monthly fee. Some reputable eCommerce platforms are Shopify, Wix , Weebly, and Squarespace.
- Sell a personal service that makes life easier for customers.
When people need a service, they usually go to a place that provides that service. However, what if the service came to them? That’s the idea behind a mobile service. As an example of how this works, let’s suppose you’re good at fixing cars. You could go into business for yourself as a mobile car mechanic. Going to an auto shop involves a lot of inconvenience for a car owner. They have to take time out of their busy week to do it, wait to get an appointment, and rent a car to get around while their car is under repair. Often, if they know nothing about car repair labor and parts costs, they later find out that they were overcharged. Moreover, they have to go through this inconvenience even if their car only needs minor repairs. As a mobile auto repair service person, you would go to someone’s home or office and work on their car in their garage or a parking lot. Sometimes, they just need a diagnosis of the problem; and you can tell them if it’s something that needs to be taken into an auto shop. At other times, it might be something minor that you could repair with the right set of hand tools. You could also offer basic maintenance services like oil change and fluid repair, swapping out a battery, or replacing a broken light.
We live in a consumer society. If you position yourself as an independent business owner rather than an employee, there is no cap on how much you can make. Instead of struggling to get recognized for your hard work, everything changes and you discover that you can make your hard work ethic pay off in spades. All you have to do is follow a simple philosophy: sell products at a higher price than you buy or provide a service that exceeds what people could expect elsewhere.