Gone are the days of building a general store on the dusty Main Street of an up-and-coming new town. As the population of the US grows more urban, the face of business is changing. Our increased societal mobility and technological gains have opened up a variety of different types of businesses.

Most businesses sell one of two things: goods and/or services. Read ahead for a breakdown of these two subtypes.

Services

If there’s something that you’re great at, use your skill to start a business! You could teach someone a skill you know well. Or you can use the skill you have to meet a need.

Is this the right choice for you?
Selling a service is a great way to make money off of doing something that you enjoy. The flip side of this is that making a job out of an enjoyable activity can sometimes make the activity less fun, as you aren’t doing it sporadically and purely for enjoyment.

If you are an extrovert and enjoy interacting with people all day, you may like the fact that service-oriented businesses require a lot of customer interaction. However, if you prefer to focus without the distraction of others, you may find yourself drained if you decide to pursue this type of business ownership.

Are you looking to work usual business hours? If so, you may want to keep in mind that many services are in demand around the clock. Many service providers take on non-traditional hours of operation. If you’re wanting a 9 to 5 job, you may find a service-oriented business to be intrusive.

Goods

Is there something you create that would make life better for others? Then you might fare really well starting a business selling goods!

Is this the right choice for you?
Are you comfortable asking people to buy things? Most small business owners that create goods also operate as their own salesforce. If you’re uncomfortable making sales pitches, you will need to either overcome that hurdle, or hire someone to handle actual sales for you.

Remember, lots of people have hobbies and create things. If your product isn’t unique, you will have a more difficult time finding a market. No matter how talented you are at creating a product, your success is dependent upon people actually wanting to buy your goods.

Starting a goods-based business is also a good choice for people who have a great product idea but need financial backing to make their product a reality. Those that go this route must also take on the role of investor relations. The owner of the business will need to interact with people and companies that have capital to lend.

Swyft can help!

Are you ready to get your business up and running? Let the experienced professionals at Swyft guide you through this process.Contact us today!