You all must have heard of the cliché statement, “Women are not recessive to men”. Well! What strikes your mind after hearing this, confused?

No matter what everyone else says, the statement holds value and with the emerging women entrepreneurs who have shown great strength and skills in the world of business, you are bound to get inspired and become the next Oprah Winfrey, Lynn Perkins, Heidi Ganahl, Gwyneth Paltrow etc.

However, you need to be proactive and willing to invest yourself into your business idea before you move towards action. As with all businesses, the whole process starts with a business idea that is processed into a detailed plan, and then comes the most important aspect i.e. capital to finance the venture.

Getting finance today is easier than it was ever before with project analysts advising you on your business plan; however, it also depends on what business is in demand today. While prospects of every business might sound promising, you need to match your skills and abilities with your business idea to arrive at a winning solution.

Here are a few business ideas that turn out to be less risky as highlighted by IBISWorld (world’s largest publisher of industry research):

  • Providing Services for Seniors
  • Career Counseling & Job Training
  • Local Freight Hauling
  • Translation Services
  • Paint Wholesaling

As highlighted by the research, business ideas like DVD & Video Games Rental Stores, Coin Operated Laundry, Apiculture, and Photofinishing can be risky and costly to set up.

Other than the business ideas mentioned above, if you have a deep urge and the driving passion to fulfill your dreams, you can certainly make anything work for you; however, you need to be careful of the seven pitfalls to business failure.

  1. Starting a business for the wrong reasons
  2. Insufficient capital
  3. Poor management
  4. Lack of planning
  5. Location
  6. No website
  7. Unplanned expansion

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