Most business owners don’t really see the need to invest in a second venture – it’s usually hard enough to keep the current one up and running without having to worry about that second set of troubles. But here’s the thing – any company can benefit from a side business. Why? Well, let’s go through the motions a little bit – any business can split taxes between the two ventures now. After all, no one really enjoys paying more money to Uncle Sam, and small businesses have a tendency of waving those taxes.
If you’ve ever considered reading Morgan Chu news, you’ll know that a couple of the things you buy for your side venture are tax deductible too, so that makes it quite interesting if your company has a few resources, and wants to invest in a side-deal. It becomes easier and can bring a great deal of return. Not to mention that if you plan it well enough, this particular side investment can become an integrated part of your business that will add to the profit margin.
Now that we’ve covered some of the advantages of side investments, what would be 4 interesting examples of side investments to consider?
1.) Training People – This is a rather emerging trend at the moment, but the truth is, people need proper training. If your company already has specialists in a certain field, why not have a side business where your employees teach other people the tools of the trade? Not something incredibly sophisticated, but enough to get you recognized, and enough for people to want to pay to come to your company.
2.) Get Online – The online world is hot now, and has been hot for a couple of years. Start doing something complementary to your company that can be pushed into the online world. Make money out of selling something that’s adjacent to your company, and it might bring you more visibility in the end.
3.) Online Marketing – This is a trickier subject, but any company can benefit from online marketing and from well-written content. Regardless of whether your company is focused on law, online shopping or popular mechanics you can have your own little online subscription section where people get premium content for a certain amount of money. Don’t go too far and make sure your side venture is still true to the core of your company, but other than that, make something out of it!
4.) Outsourcing – As odd as it might sound, you can make a business out of outsourcing. Learn to take more than your business can chew, for now – and push it somewhere where you can still get quality work but for less money. It might sound odd at first, but if you polish your skills well enough, there’s no reason why it shouldn’t work.