You may have been surprised by the title of this article. Although it sounds like an economic report, if you think about it, you may find some interesting ideas for services that you can provide to many companies in the area and thereby grow your own business.
To start: the definition of services and goods
Let's start with the basics to make it easier to understand the further course of thought. Both goods and services are sold and are the basis of the economic system.
Goods are primarily objects. Examples are: cars, motorcycles, computers, apples, yachts, windows or wine. As it is not difficult to see, goods are tangible and can be bought. We can also divide them into consumer and business goods.
Services: are not tangible, although you can see their effects. After all, legal advice, accounting services, interior design or medical care of people have a purpose, right?
The difference between goods and services is noticeable, because the first ones are the result of work, and the second ones are work.
Typical business goods and services examples
Consider first what are the biggest companies in the world. Surely you will list Apple, Microsoft, Google, Meta and Amazon, but do they really make the top 5? Not really.
There are many companies that work exclusively with other companies, operating on a B2B (business to business) model. Leases, audits, legal advice and insurance are just some of the typical business to business services. Below you will find some examples of goods and services provided to businesses.
Accounting and tax consulting
This is a very strong sector of the economy. A lot of small companies don't have their own accounting department and choose to outsource these tasks. That's why we think it's a really good business, especially if you're interested in regulations, learn quickly and have the ability to be accurate.
Due to the characteristics of most tax systems around the world, leases are usually much more cost-effective than buying machinery and vehicles with cash. This is why there are many companies that deal in leasing. Unfortunately, you probably won't be able to set up a leasing company, because huge amounts of money are required to start this business. However, you can become an intermediary, operating with local companies. It's a good business idea if many of your friends run their own businesses, and you'll have at least a few customers from the start.
Just like with leases and accounting, every business needs insurance. While it's doubtful you'll start an insurance company, there's nothing stopping you from becoming an insurance agent! It's a good job for people who like to sell, and the earnings have the potential to be quite high indeed.
Since companies need accountants, they also need people who deal with recruiting and other typical HR tasks. There is already an article on HR jobs on our blog, so instead of writing about it, we encourage you to read it.
Consulting and other IT services
There is no other sector growing as dynamically as IT. A number of companies need people to develop applications and programs, others need to operate servers and other internal systems and still other companies are looking for digital security people. As you can see, there are many ways to make money as an IT specialist, working both as a freelancer and building an entire team of programmers and IT specialists. If technology is familiar to you, why not give it a try?
Services in marketing
Last but not least, marketing! In the era of the Internet, companies that don't exist on Google make practically no money. If you are interested in marketing, you have plenty of options. You can do content marketing, graphic advertising, shoot commercial spots, handle social media or do analytics in advertising. Doesn't it sound great? It does! Services in marketing are actually a very prominent business.
Computers and other electronic devices
If we're being honest, this subsection mixes goods and services a bit. Companies like Apple and Microsoft make a lot of money producing devices like phones and computers, but equally important are the services sold bundled together. While it requires a lot of investment to produce electronic devices and computers, assembling computers from over-the-counter components is already as affordable and quite profitable as possible.
Large companies have large fleets, small companies have small fleets, and each has to buy cars somewhere. Although it seems strange, brokering and reselling cars does not require millions of dollars at all. If you're into automotive, this job might be perfect for you!
Food for employeess
This is quite an interesting business concept. Many companies provide free or very inexpensive meals for their employees. If you offer affordable and tasty food, you will surely gain customers among local factories, schools, prisons or other institutions. If you have a background in dietetics, cooking, or you just know it, be sure to consider starting a cooking business.
In the case of real estate, we see both goods and services examples. Buildings can be rented, built or sold. If you choose to be a developer, you sell goods, but if you rent the apartments, you make money from services. As you can see, the possibilities are pretty vast.
Do you know the Airbnb platform? Of course you do, everyone knows it. Airbnb is the largest accommodation network without its own hotels, because it rents out apartments not owned by them. You can take advantage of this if you rent an apartment and then start renting it out.
You can also buy apartments and offices and then sell them, although this type of business requires a good credit rating or a lot of cash. The potential profits are enormous.
Now that we've mentioned office space, it's time for office equipment. You will have difficulty with starting to supply the offices of large corporations, but why not start with smaller businesses, such as local insurance brokers, accounting offices, law firms or offices? Many will be happy to get rid of the thought of supplying paper for printers or pens.
What is better to sell, goods or services?
We've already explained to you the difference between goods and services, but we haven't mentioned much about income. It's not easy to determine what brings in more profit, but there are many indications that services are a better choice, especially since they usually don't require a lot of money to get started.
What should I know when I start a business?
There are several things you should know about if you plan to open your own business. This article will only give you a few tips, as there is actually an article on this topic on our blog.
- Create a business plan.
- Think about whether you really want to do something you are thinking about now.
- Check all the legal requirements you need to fulfill.
- Consult a good lawyer and accountant
- Get an idea of how insurances work and what the Business owners policy is.
We hope this information is enough to get you started. We sincerely hope that your business will be a success, and in the meantime we invite you to our blog, where you will find a lot of interesting articles on finance, economics and business.