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Want to start a business but don't know what sector

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  • 20-01-2020 7:28pm
    #1
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭


    I'd really like to own my own business, I'm from the finance sector and aged 30

    Problem is I can't think of any business that I could be successful in

    Does anyone have any ideas eg. Stable businesses or new trends?

    It'd really help my brainstorming!

    Thanks so much


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    #2
    Die Hard 2019
    Closed Accounts Posts: 362 ✭✭Die Hard 2019


    One More Toy wrote: »
    I'd really like to own my own business, I'm from the finance sector and aged 30

    Problem is I can't think of any business that I could be successful in

    Does anyone have any ideas eg. Stable businesses or new trends?

    It'd really help my brainstorming!

    Thanks so much

    Ryan from Ryan's world is only 8 and has 35,000,000,000 YouTube views and 25 million subs probably made 35 million dollars off that so if he can do it you should be able to do better.


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    #3
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    Die Hard 2019 wrote: »
    Ryan from Ryan's world is only 8 and has 35,000,000,000 YouTube views and 25 million subs probably made 35 million dollars off that so if he can do it you should be able to do better.

    The 30,000,000 other YouTube channels probably think the same too!

    OP: Having said that its definitely a viable option these days. With some good content, a little bit of investment and some serious graft you can probably grow a channel to the level to produce a reasonable income inside about a year. Until you're hitting 50k views/day you aren't really making anything so you need to stick at it.


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    #4
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    One More Toy wrote: »
    I'd really like to own my own business, I'm from the finance sector and aged 30

    Problem is I can't think of any business that I could be successful in

    Does anyone have any ideas eg. Stable businesses or new trends?

    It'd really help my brainstorming!

    Thanks so much

    Do you want customer facing with a physical location or be sat at home on the computer?

    What interests do you have that you see others making money from these days?


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    #5
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    jimmii wrote: »
    Do you want customer facing with a physical location or be sat at home on the computer?

    What interests do you have that you see others making money from these days?

    I'm a pretty good investor when it comes to stocks {yes we're in a bull market and everything is up but I've made 100+ percent gains on several stocks)

    But I'm not fond of day trading or the like - I'm more buy and hold

    I like green energy for some reason? Maybe I should invest in an eii fund instead


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    #6
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    jimmii wrote: »
    The 30,000,000 other YouTube channels probably think the same too!

    OP: Having said that its definitely a viable option these days. With some good content, a little bit of investment and some serious graft you can probably grow a channel to the level to produce a reasonable income inside about a year. Until you're hitting 50k views/day you aren't really making anything so you need to stick at it.

    A good friend of mine makes 20euro a month on his YouTube passively, beer money I suppose!


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    #7
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    One More Toy wrote: »
    A good friend of mine makes 20euro a month on his YouTube passively, beer money I suppose!

    I would imagine 90% of monetized accounts are doing that. So long as it's something fun its money for nothing!


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    #8
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    One More Toy wrote: »
    I'm a pretty good investor when it comes to stocks {yes we're in a bull market and everything is up but I've made 100+ percent gains on several stocks)

    But I'm not fond of day trading or the like - I'm more buy and hold

    I like green energy for some reason? Maybe I should invest in an eii fund instead

    I'm the same day trading doesn't appeal to me at all much rather long term stuff.

    It's good to have something in stocks but you need that day to day too.

    Was thinking more general stuff that you aren't currently making money from whether it be sports, books, film, languages anything like that.


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    #9
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    jimmii wrote: »
    I'm the same day trading doesn't appeal to me at all much rather long term stuff.

    It's good to have something in stocks but you need that day to day too.

    Was thinking more general stuff that you aren't currently making money from whether it be sports, books, film, languages anything like that.

    Nothing like that I'm afraid I'm pretty boring!


  • Options
    #10
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Bumping this for more ideas


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    #11
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Bumping again!


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    #12
    Forge83
    Registered Users Posts: 738 ✭✭✭Forge83


    One More Toy wrote: »
    Bumping again!

    What do you enjoy doing in life?
    What are you good at?
    What businesses relate to either of these.


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    #13
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Forge83 wrote: »
    What do you enjoy doing in life?
    What are you good at?
    What businesses relate to either of these.

    I'm not sure I'm good at anything except excel sheets!

    I like dealing with people


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    #14
    Forge83
    Registered Users Posts: 738 ✭✭✭Forge83


    One More Toy wrote: »
    I'm not sure I'm good at anything except excel sheets!

    I like dealing with people

    An Excel training business.


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    #15
    Springfields
    Registered Users Posts: 258 ✭✭Springfields


    Lots of people struggle with budgeting / daily / weekly / monthly finances....build excel templates and see them at a reasonable price..build in the formula and design in such a.way anyone can use them.
    Could have different scenarios: single income no dependants saving for a mortgage, family with 1 income, couple with 2 income and mortgage...loads of different variations ..you can consult with people and made bespoke templates..

    Advertise on social media...


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    #16
    neris
    Registered Users Posts: 20,043 ✭✭✭✭neris


    One More Toy wrote: »
    A good friend of mine makes 20euro a month on his YouTube passively, beer money I suppose!

    must be a light drinker


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    #17
    BailMeOut
    Registered Users Posts: 2,969 ✭✭✭BailMeOut


    Become an Independent Financial Adviser. There is a shortage of people who offer these services in Ireland and the fact that less that 1/3 of our workforce have any plans for retirement clearly shows that there is a need.

    If you do this sell hours and not products and you'd help people put plans together to secure future spending (example playing for kids college) or securing retirement (example pension). Pensions rules in Ireland are very generous there are not enough people helping to take advance of them.


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    #18
    easypazz
    Closed Accounts Posts: 2,346 ✭✭✭easypazz


    One More Toy wrote: »
    Bumping this for more ideas
    One More Toy wrote: »
    Bumping again!

    Do you honestly think somebody is going to say, here you go, here is a business model that will make you successful?

    The fact you even think that this is how to start your own business shows this ain't gonna happen for you.


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    #19
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    easypazz wrote: »
    Do you honestly think somebody is going to say, here you go, here is a business model that will make you successful?

    The fact you even think that this is how to start your own business shows this ain't gonna happen for you.

    No I wasn't, I was just looking for ideas to assist in my brainstorming


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    #20
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    There is a company here in Toronto and all they do is advise Millenials (Myself included) as to how to plan for the future financially. They look at your income, give you a plan and then schedule some follow up meetings. I think the initial consultation is about $250 and a 15 min phone call a few months after is $60.

    They started as a single person and I think they now have a team of 6+. If you offered the service remotely and after hours (6pm to 10pm, and weekends) you would likely make a mint. It's a very automat-able business as really you just need a skeleton plan for an individual and then adjust it accordingly.


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    #21
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    ironclaw wrote: »
    There is a company here in Toronto and all they do is advise Millenials (Myself included) as to how to plan for the future financially. They look at your income, give you a plan and then schedule some follow up meetings. I think the initial consultation is about $250 and a 15 min phone call a few months after is $60.

    They started as a single person and I think they now have a team of 6+. If you offered the service remotely and after hours (6pm to 10pm, and weekends) you would likely make a mint. It's a very automat-able business as really you just need a skeleton plan for an individual and then adjust it accordingly.

    Thanks - that's something I could definitely do as I advise friends and family already


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    #22
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    One More Toy wrote: »
    Thanks - that's something I could definitely do as I advise friends and family already


    I was a bit lost here..... but now I know.

    You have no idea of what to do, you consider €20 a month beer money and you post her looking for (and expect to receive gratis) a business model that will make you successful.


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    #23
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    BailMeOut wrote: »
    Become an Independent Financial Adviser. There is a shortage of people who offer these services in Ireland and the fact that less that 1/3 of our workforce have any plans for retirement clearly shows that there is a need.

    If you do this sell hours and not products and you'd help people put plans together to secure future spending (example playing for kids college) or securing retirement (example pension). Pensions rules in Ireland are very generous there are not enough people helping to take advance of them.


    Have you any idea of what you are talking about?


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    #24
    easypazz
    Closed Accounts Posts: 2,346 ✭✭✭easypazz


    ironclaw wrote: »
    There is a company here in Toronto and all they do is advise Millenials (Myself included) as to how to plan for the future financially. They look at your income, give you a plan and then schedule some follow up meetings. I think the initial consultation is about $250 and a 15 min phone call a few months after is $60.

    They started as a single person and I think they now have a team of 6+. If you offered the service remotely and after hours (6pm to 10pm, and weekends) you would likely make a mint. It's a very automat-able business as really you just need a skeleton plan for an individual and then adjust it accordingly.

    All he needs is enough fools to part with $250 for a 15 minute phone call.


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    #25
    AndrewJRenko
    Registered Users Posts: 28,528 ✭✭✭✭AndrewJRenko


    One More Toy wrote: »
    Thanks - that's something I could definitely do as I advise friends and family already

    But can you persuade people to pay for it?

    What would you be offering that I couldn't get for free by posting a query here on boards.ie?


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    #26
    StupidLikeAFox
    Registered Users Posts: 7,699 ✭✭✭StupidLikeAFox


    AndrewJRenko wrote: »
    But can you persuade people to pay for it?

    What would you be offering that I couldn't get for free by posting a query here on boards.ie?

    Synergy?


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    #27
    oceanman
    Registered Users Posts: 1,747 ✭✭✭oceanman


    pedroeibar1 wrote: »
    I was a bit lost here..... but now I know.

    You have no idea of what to do, you consider €20 a month beer money and you post her looking for (and expect to receive gratis) a business model that will make you successful.
    the op is simply asking for ideas and suggestions from people...where is the harm in that?


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    #28
    BailMeOut
    Registered Users Posts: 2,969 ✭✭✭BailMeOut


    pedroeibar1 wrote: »
    Have you any idea of what you are talking about?

    I absolutely do! Why do you ask?


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    #29
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    easypazz wrote: »
    All he needs is enough fools to part with $250 for a 15 minute phone call.

    I consider fools those that part with €100 on a night out on the beer as they perceive it as value. Value is relative.

    My gf got her finances in order through them and she is already 'up' about $3k on her savings after 6 months and they let her know of tax credits/savings accounts that apply to her.

    So for $250, she got her monies worth and she declined the follow-up call as she didn't need it.


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    #30
    marieholmfan
    Registered Users Posts: 2,744 ✭✭✭marieholmfan


    What is your definition of success?


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    #31
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    BailMeOut wrote: »
    I absolutely do! Why do you ask?


    Ask? Because anyone who knows anything about the financial advice industry would know about compliance and the regulatory process, and as a result would not make an ill-informed statement about 'becoming a financial advisor'.


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