Entrepreneurial Opportunities You Might Not Have Heard About

Entrepreneurial Opportunities You Might Not Have Heard About

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One of the key things about being an entrepreneur is always having to keep your eyes open for new opportunities, especially if you want to grow and build your empire. While being an entrepreneur has many rewards, not least of which getting to work for yourself, and often get involved with some really cool projects, it can be tricky if you are just getting started. The following entrepreneurial opportunities might be best suited for people who are just starting on their journey and might stimulate thought in even well-aged entrepreneurs.

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Franchise Networks

There are many franchise networks you can choose to get involved with, from food franchises to home care franchise opportunities. Depending on what area you feel more comfortable with, or feel a connection to, you can get involved with many different franchises. Community service based care might suit someone who believes in putting the individual first and believes in giving back to the community while having a background in retail might lead others to pursue a retail franchise. Some of the things to look out for before you get onboard include making sure the franchise has a proven business model, you can see a potential for growth in this sector, and that the franchise provides you with the support you need.

Crowdfunding

Crowdfunding is a source of crowdsourcing in which a project is funded by many individuals. This is a form of funding that allows people to fund a project that might otherwise not get investment. Crowdfunding provides an alternative to the traditional way of sourcing investment, usually from businesses or in the form of a loan, and is a way to get a community of people behind your project. The great thing about crowdfunding is it encourages new and exciting ideas from a wide range of individuals,  and while they might not always get the full amount of investment they need, it can be combined with other sources of funding that can help you get to the investment you need.

Startup Incubators

A startup incubator is a company or organization that helps new and start-up companies to become successful by providing a variety of useful tools such as office space, training, and even financial support. Academic institutions and venture capital firms are some of the most common organizations to find start-up incubators. The higher rate of success with startup incubators, usually as a result of the hands on support and aid, means that they are a good opportunity for everyone involved.

Investment In Foreign Markets

Foreign markets are seeing exponential growth in recent years, and this is becoming an area of interest for many entrepreneurs. The Chinese market, for example, is one of the largest markets in the world, and will no doubt take over as the most lucrative market in the not too distant future. Educating yourself about the best ways to get involved as an entrepreneur is key when deciding to invest overseas. Many people fail or make bad financial decisions because they simply do not understand a particular market well enough, or are simply too afraid to take a risk in the first place. However, diversifying your portfolio by investing in foreign markets will give you an edge over people who only invest in their home market.

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Network Marketing

This form of distribution is great for individuals who want to take advantage of a business opportunity and have the support of working for a parent company. Some of the most well-known companies that offer network marketing schemes include Avon and Herbalife which have seen continuous growth. This form of entrepreneurship offers the individual the opportunity to be their own boss while also providing them with the flexibility to undertake other projects. Quite often you are able to work as much or as little as you like, making this an excellent choice for people who want to combine working with other responsibilities, or even work for other distributors.

Social Ventures

The increase in popularity of social ventures is something that reflects the current state of affairs, and the way in which more people than ever are becoming invested in social change. These ventures base themselves on contributing to the amelioration of society in some form and are popular with the public and with entrepreneurs looking to get involved as well. There are many ways to get involved with social ventures, on a micro or macro level. Looking within your community and the issues it may have may well be the best place to start. As a result of it being a social project, you can sometimes find government funding for your social venture. In any case, it is worth seeing the funding options available to you.

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