Almost everyone wants the freedom to do the things they love while earning money. And that’s why people resort to starting their businesses to kickstart a career that might give them the freedom they’ve longed for. However, many factors are put into consideration when starting a business. Some could be a lack of capital, lack of time, and lack of confidence. But you can’t argue that your skills are the most powerful driving force that will finally turn on that engine. So by relying on skills alone, here’s how to start a business without trying.
Assess your competence levels
We’ll let you in on six easy steps to starting a business without lifting a finger. However, assessing your competence levels first before brainstorming new business ideas is imperative.
Jot down your employment history as if you’re writing your resume. Include all the tasks you did for each role or position. Then break down those tasks into four levels of competence. These should be:
- Level 1 – You suck at these tasks
- Level 2 – You’re good at these tasks, but you don’t enjoy doing them
- Level 3 – You’re extremely good at these tasks, but they might bore you to death
- Level 4 – You love doing these tasks, and you’re excellent at doing these
Next is to decide which tasks from levels 3 and 4 you want to offer to a particular target audience.
Once you’ve decided this, you can now brainstorm for business ideas using this A.C.T.I.O.N. method from an Entrepreneur article.
A.C.T.I.O.N. means:
- Audits
- Consulting
- Training
- Implementation
- Ongoing Retainers
- New Opportunities
Audits
Depending on what tasks you offer as services, offering audits relevant to those tasks is an excellent business idea. Companies would undoubtedly gain benefits from someone experienced who will go through their company’s structure, processes, and opportunities that can improve productivity and increase the bottom line.
You can offer to create workflows or systems that will serve as guidelines for the entire organization.
Consulting
Offering consultation services is also a money-making business idea because new entrepreneurs need as much guidance when starting. And entrepreneurs look up to experienced people who provide these services.
Set up a consultation schedule with clients and communicate with them regularly.
Training
Training teaches people to hone their skills and develop their mastery of specific tasks. For instance, if you’re an experienced accountant, you can offer accounting training to the in-house accountants in an organization.
You may write a guide on which the training is based, or you may also create video tutorials for them to follow.
Implementation
This might somehow be related to audit services. Implementation means you can assess what a company needs, such as tools and other resources, to streamline processes and reach business goals.
Jot down the needed tools and resources and earn money by working with these third-party providers. Better yet, you may also offer your expertise.
Ongoing Retainers
You can provide any of your services and earn money through ongoing retainers. For instance, if you’re offering your services as an accountant, you can check the company’s books regularly.
Suggest some ongoing tasks that the companies might need to improve the organization’s workflow.
New Opportunities
The last business idea on how to start a business without trying is by thinking of new opportunities that the business can leverage to improve revenue. You will only achieve this once you’ve worked with the company for quite some time.
If you see a gap in their workflows, process, and human resource, you can think of new ideas that can improve these aspects drastically.
