21 best business movies to teach you important entrepreneurial lessons

21 best business movies to teach you important entrepreneurial lessons

21 best business movies to teach you important entrepreneurial lessons

March 18, 2025

Best business movies for entrepreneurs
Business movies and business documentaries are not just entertaining but educational as well. Veteran and wannabe entrepreneurs can learn a great deal about doing business watching the best business movies over a bowl of popcorn. 

We went a step ahead and made a list of the best business movies that extends beyond the expected titles. That means romcoms like You’ve Got Mail stand shoulder to shoulder with Becoming Warren Buffet.

While some of the best business movies teach us good practices, others show us what should never be done in business. For example, The Wolf of Wall Street may pump you up, but before turning a blind eye to the law remember that Jordan got his share of jail time.

Jump to:

 1. You’ve Got Mail

 2. Enron: The Smartest Guys

 3. Joy

 4. The Founder

 5. What Women Want

 6. The Big Short

 7. BoilerRoom

 8. Moneyball

 9. Willy Wonka and the Chocolate Factory

 10. Extreme Job

 11. Chef

 12. Point Blank

 13. Office Space

 14. Becoming Warren Buffett

 15. The Pursuit of Happiness

 16. The Intern

 17. Wall Street: Money Never Sleeps

 18. The Wolf of Wall Street

 19. Limitless

 20. FYRE

The best business movies to put on your watch list

Movie time begins! According to entrepreneurs from different industries these are the best business movies to watch. Each of these business movies hold important lessons. 

So watch, have fun and learn!

The Social Network

The Social Network brilliantly captures the tumultuous birth of Facebook and offers entrepreneurs a masterclass in both innovation and cautionary tales. The film shows how Mark Zuckerberg turned a dorm room project into a global empire by identifying an untapped digital need and bringing social connection online in a way that mimicked real-world exclusivity.

What makes this one of the best business movies is its unflinching look at the personal costs of success, showing how relationships crumble when ambition takes precedence over loyalty. The movie taught me that revolutionary ideas often come from questioning existing systems and norms, but also that burning bridges can create long-term consequences that financial success can’t repair. The lesson? Create something meaningful, but remember that how you build matters just as much as what you build.

Mike Sonders, Founder of TechStartupInsights

You’ve Got Mail

I think most entrepreneurs will find a kindred spirit in Kathleen Kelly, the owner of an independent bookstore named “The Shop Around The Corner”. Kathleen inherited her business from her mother and is determined to keep her quaint storefront thriving in New York City, even though she has a rival in the major bookstore chain Fox Books (owned by Joe Fox, whom we find out later on is the person she has been developing a relationship with over email). 

This movie is probably best known as a romcom, but it’s also full of great business lessons which makes it a perfect addtion to our best business list. You’ve got mail teaches entrepreneurs not to give up, even when you’re faced with direct competitors and challenges. While “The Shop Around The Corner” does, eventually, go under, Kathleen continues to work hard and sticks by the business and her employees until the very end. By the end of the movie, she even pursues a new entrepreneurial endeavor as a successful children’s book writer! 

Deborah Sweeney, CEO, MyCorporation

Enron: The Smartest Guys in the Room

Enron: The Smartest Guys in the Room is undoubtedly one of the best business movies about the rise and fall of an enormous corporation. Based on the best-selling book The Smartest Guys in the Room by Bethany McLean and Peter Elkind, shows how the top executives managed to manipulate securities trading, bluff the balance sheets and deceive investors.

This is one of the best business movies that details one of the greatest business scandals in America’s history, where several executives gained billions of dollars but their investors and employees lost is all.

Irina Georgieva, CEO of Enterprise League

Joy

Joy movie quote

If there is one business movie that I love the most, it is Joy. The movie portrays a young woman who tried to excel in the marketing industry despite the utter chaos she had in her life. This movie taught me that true entrepreneurs can build anything from scratch despite the adversities in life. Also, it helped me learn how to be resourceful and not limit your actions to what society dictates if you really want to grow your business.

Bottom line: True entrepreneurs strive and find ways despite adversities.

Allan Borch, Founder of Dotcom Dollar

The Founder

Founder movie quote
I am impressed by the movie The Founder about Ray Kroc who took credit for the McDonald’s food chain. In the movie, he lied that he was the chain’s founder when he wasn’t. However, there are admirable qualities I believe entrepreneurs should emulate. 

A scene in the movie illustrates this: The original founders, brothers named MacDonald, wanted ice cream in their shakes; Roy, who was running the enterprise, felt paying for freezers to hold the ice cream was too costly; He went ahead and did what he wanted – putting powder, not ice cream in the shakes; They still tasted delicious and he saved a great deal of money. 

Today, McDonald’s restaurants and Ray Kroc are famous due to Ray’s ingenuity, not the brothers. They wanted to be authentic, but they were stubborn. Ray was open-minded and innovative. Those are the qualities entrepreneurs should emulate.

Janice Wald, Owner of Mostly Blogging

The business lesson that this movie taught me was how important it is to develop a simple, repeatable processes to build an efficient and successful business.

In the movie, it showed how the McDonald brothers developed a system that allowed their staff to prepare a hamburger within minutes of ordering.

Many small businesses fail within their first years, because entrepreneurs overwork themselves believing that working harder is the key. Instead, the key to being a successful entrepreneurship is to work smarter not harder.

Jonathan Sanchez, Co-Founder of ParentPortfolio

It gives out the message of how persistence and determinacy can lead to a successful life. You’ll have to face multiple rejections to reach your goal. Willingness to do something should never die and one should always be ready to discover his skills, polish them and make a fortune out of

it because it is in you to create your future. It taught me how giving up should never be an option and to survive in the competitive business world, hard work and commitment is the key. It made me, as an entrepreneur, headstrong and gave me the confidence to fight any obstacle on my way to succeed with calm mind and patience.

Mike Allen, Co-Founder of The Fashion Jacket

What Women Want

As an owner of a company focused on Brand Marketing training and recruiting, I have to go with an old favorite that celebrates our CPG industry.  What Women Want in 2000 with Mel Gibson and Helen Hunt made it ok for guys in our macho, Americana culture to seek to understand women and what they wanted from a consumer perspective. For a guy who was just starting his brand marketing career, that mattered. It seems obvious now, but this was before even ‘metrosexual’ was a thing. People weren’t really ready for it. Can’t say I ever shaved my legs though…

Brian Dolan, Co-Owner of CPG Camp>

The Big Short

The Big Short Movie Quote
This is one of the best business movies because it uses actual history to teach you how to look at real numbers and data instead of following popular opinion to invest your money and do business. It is also very entertaining to watch and well-produced in addition to teaching viewers a great business lesson that data is more important than popular opinion.

Stacy Caprio, Founder of Her.CEO

Boiler Room

This movie is an old favourite and one of the best business movies to date. The storyline teaches you about the importance of creating a new belief system and culture for new employees. Focusing first on the success of your people and making them believe that your system works. Moreover, it accentuates the importance of your mindset and attracting your desired reality into existence. Overall this is one of the best and most inspiring business movies that will make you feel empowered.

Atanas Georgiev, Co-Founder of Enterprise League

Moneyball

Founder movie quote
My personal favorite is Moneyball, starring Brad Pitt. It’s the story of how the underfunded Oakland A’s baseball team threw out all traditional statistics to identify high quality, yet undervalued players. This movie made me rethink all of our key performance indicators in Sales and Marketing. Similar to the movie, we found that some of the benchmarks we’d become reliant on were vanity stats of little real use. This led us to rethink everything, analyze our data differently and we eventually came up with more useful performance indicators.

Casey Halloran, Co-Founder of Namu Travel Group 

What I like about his movie is that it teaches us that any business is always working under constraints. Often big, unfair, and rigged constraints. By playing the established game, it becomes very difficult to change the status quo and beat your competitors with deep pockets. You’ll need to think differently. When you’re at a disadvantage, playing the old game is a sure-shot way to lose.

Kenny Trinh, CEO of Netbooknews 

It tells the story of Billy Beane (played by Brad Pitt), the General Manager of the Oakland A’s U.S. baseball team. Beane rejected the random and non-strategic methodology of choosing players that all teams followed and instead experimented with a revolutionary data-based model. This disruptive approach allowed Beane to build a winning team composed of undervalued and overlooked talent. Beane’s advances, which zigged when everyone else was zagging, have since been adopted by teams in every professional U.S. sport.

Rafe Gomez, Co-Owner of VC Inc. Marketing

Point Blank

Not the obvious choice but definitely one of the best business movies ever. It documents the wheeling and dealing of the oldest type of American organization—crime families—in a way that focuses on the cold corporate infrastructure rather than the warmth we’re used to seeing from Italian mafia movies. Key lessons include the value of paying debts and the danger of not getting financial agreements in writing.

Ryan Lambert, Founder of FlickPicking

Willy Wonka and the Chocolate Factory

willy wonka movie quote

Despite it being a kids movie my favorite business movie is Willy Wonka and the Chocolate Factory. I love this movie for business because it shows and taught me how important it is to always do the right and honest thing when it comes to your business. Doing things the right way will create a culture where your customers and employees develop so much trust in you that they won’t think about using any other competitor. Moreover, doing things the right way rather than the cheap or dishonest way will create longevity when it comes to your brand.

Kevin Groh, Owner of Cachi Life

This movie made me realize that having a positive outlook in life will lead you to better things in the future. Being down to earth and putting your family’s wellbeing first will help you decide what is the right thing to do. It also shows that every choice we make has its consequences, and we must learn from those experiences.

Mason Culligan, Founder and CEO of Mattress Battle Inc.

Extreme Job

This 2nd highest-grossing Korean film of all time is a must-watch and should be on every best business and financial movies list in the world. A group of undercover cops became instant entrepreneurs when they purchased a bankrupt chicken restaurant to protect their secret operation. Their chicken recipe became an unexpected hit, leaving them torn from being entrepreneurs or cops.

I love how this movie approached the business industry as a very unpredictable context. You will find yourself becoming an entrepreneur, not because of luck but pure talent. Knowledge and skills are always needed to survive in the industry. However, it takes talent and passion for you to come out on top.

Karl Armstrong, Founder of EpicWin App

Chef

The movie was empowered by several high-profile stars; but some business lessons can still be learned from it. As an entrepreneur, it taught me that unfavorable exposures can also be beneficial. Other than that, I also learned from the movie that the best way to run a business is to utilize your best skills and offer it to the marketplace. Lastly, it demonstrates the importance of digital marketing in terms of letting potential customers know that your business exists.

Steven Jay, Founder of KoiFishTime

Office Space

Office Space continues to be an excellent business movie 25 years later because its depiction of the corporate office environment is relevant in many industries. The film draws humor from being a minuscule employee in a dysfunctional system, and it highlights many things that should be changed yet remain the same old ways of running companies. The main character, Peter, is relatable and somewhat of a hero because once he stops caring about meaningless duties and performance results, he not only becomes liberated, he becomes successful.

Robert Kienzle, Senior Consultant at Knowmium

While this film is not about starting a business, it is about something that drives many employees to take the plunge and start their own business: namely, the tedious bureaucracy of the corporate world. Any entrepreneur who left office existence will relate to the ineffective bureaucracy of corporate life, and it may even help them muster the courage to take the plunge into entrepreneurship! 

This film made me a better entrepreneur by understanding the importance of creating non-hierarchical work environments and ensuring that employees are engaged and motivated. It also provides a good reminder of why I chose the path of entrepreneurship. 

Emma Miller, CEO of Cacao Tea Co.

Becoming Warren Buffett

Becoming Warren Buffet quote
Becoming Warren Buffett is definitely my favorite business movie. In my case, it is not because he is such a successful investor, or because of the get rich dream connected to Wall Street. Warren Buffett acts only rational. In every single one of his business decisions emotions don’t act apart. This is so important for small business owners too, especially in the beginning when there are many ups and downs. Thinking of his behavior always gets me back to work when unplanned obstacles come up and destroy all my motivation.

Christian Steinmeier, Founder of koalapets.com

The Pursuit of Happiness

Part of running a business is facing challenges and failures. But, despite the challenges and failures, we have to continue working towards achieving what we want. After the worst, comes the best. That is what the movie The Pursuit of Happyness has taught me. The story of Chris Gardner has really inspired and motivated me, especially when I was still a small and starting business owner.

Shari Smith, Founder of Shari – Sells

The Intern

One of my favorite business movies is quite timely and it is all about e-commerce and making it to the big world whilst starting from scratch and in the end having to choose between family and the business you started from the ground up. The Intern not only an inspiring movie of a lady boss having a deep meaningful friendship with her 70-year-old intern but it also shows that you never grow old of working when you have been working literally your whole life and giving your boss some insights about living life and living her dream to be big.

Timo Wilson, CEO at Asap Credit Solutions

Wall Street: Money Never Sleeps

Wall Street Money Never Sleeps Movie Quote

If you’re going to operate on Wall Street, you need to learn financial principles, of course, but you still need to be on the lookout for the kinds of people that don’t think for anything except themselves who can drag you down in one fell swoop — or the whole finance sector. This 1987 movie stars the famous Gordon Gekko (played by Michael Douglas), a position that helped put to the forefront of the American imagination the notion that Wall Street is full of sleazebags.

It’s a movie about vanity, a game about looks, and a game about how a sly con artist will lead others on their way. The depiction does an outstanding job of illustrating the expense to people and a community that comes about when such a figure is permitted to grow to power. It even contains lots of other nail-biting scenes — you’ll need to see and wait.

Eliza Nimmich, Co-Founder / COO at Tutor The People

The Wolf of Wall Street

Wolf Of Wall Street Movie Quote
Despite disagreeing with the less ethical approaches Jordan (played by Leo diCaprio) takes in the later parts of the movie, I absolutely love how he built up an empire from absolutely nothing. Nothing, but sheer will and a ton of ambition – and to teach his employees what he knows.

The movie taught me to dream even bigger than I ever have, to work harder than I ever have, and to be as loyal as a human can be.

Chris Kaiser, Founder & CEO of Click A Tree

It taught me the importance of simplifying seemingly arduous tasks like being a stockbroker into clear and concise instructions that anyone with the desire to succeed would be able to follow.

This is always in the back of my mind when teaching our team the ins and outs of the real estate transactions and technicalities. I even use this simplified approach when learning from peers and coaches. 

For example, learning what a lien is and how it can affect the purchase of a property.

The best way a coach was able to simplify it for me was ‘A lien is simply a debt connected to a property that prevents the sale of the property until the debt is paid off’. This is one of the most frequently asked questions in our team and business, and having simplifications like this allows us to communicate effectively across the team.

Tino Jaimes, Owner of Sunrise House Buyers TX

Limitless

One of my favourite business movies is Bradley Cooper’s Limitless. He was once a frustrated writer who encountered a pill that can make a human brain extremely brilliant. The pill helped him to gain millions of money from the stock market. Also, allowing him to work for a very powerful tycoon. Basically, this movie taught us that there is no “cheat code” for success. Taking the shorter route may be fulfilling at the start, yet there are corresponding retributions along the way. Still, the best way for success is persistence, hard work and an endless hunger for learning.

James Pearson, CEO of eVenturing

FYRE: the Greatest Party That Never Happened

It’s at the top of my list because it touches on two important values: having the ambition and pragmatism. It shows how the right attitude should be, as well as the wrong way of making it happen. It encourages you to dream big but it also warns you to strive to realize it in an ethical way.

David Weingot, CEO of DMAC Security

What all these business moives have in common

All the movies on our list have hidden gems that will help entrepreneurs on their journey. Take your time and watch all the business movies mentioned here and we guarantee that you will expend business knowledge exponenially.

More must-read stories from Enterprise League:

Related Articles

Finix Reviews: Is Finix a Good Choice for Developers?

Finix Reviews: Is Finix a Good Choice for Developers?

Finix is a payments company that lets software platforms add card and bank payments directly into their own products, so customers can pay inside the app instead of getting bounced to an outside page. Many platforms want to offer that, and they would also like a share...

read more

6 profitable funny business ideas to start in 2026

6 profitable funny business ideas to start in 2026

6 profitable funny business ideas to start in 2026

September 16, 2024

Funny business ideas that will bring you profit

There are so many things that can get you to laugh and make you feel good, but in this world, it’s tough to find something funny when there’s so much going on. The best part of all, though, is that humor has endless uses, and you can profit from it! Take a look at some of these profitable funny business ideas for inspiration – what will you do with your profits?

6 highly profitable funny business ideas

Funny business ideas always have a way of catching on. In the years to come, there will be more opportunities than ever for entrepreneurs looking to start their funny businesses. Here are five profitable funny business ideas you can start in 2025:

Rage room

Rage room is an entertainment concept where customers safely destroy items inside a room as a stress relief activity. In highly controlled sessions, clients gear up in protective equipment while selecting items like electronics, bottles, and plates to voluntarily smash using bats and hammers. Rage rooms provide cathartic stress release in perceptively extreme, yet carefully risk-managed environments tailored to client comfort levels.

As mental health struggles and workplace burnout risks increase, rage rooms fill the demand for unconventional outlets proven to calm inner tensions. The approach is an evolution of long-standing stress management models from yoga to screaming therapy supporting wellness through immersive release. For operators, the measurable business appeal has already been shown via thousands of establishments thriving globally. 

How much you can make: $50,000 – $200,000 annually
How much does it cost to start: $20,000 – $100,000
How long does it take to build: 2-4 months

Comedy

There are a lot of profitable funny business ideas that you can start in your small business. One of the best ways to approach this is to create comedy shows and perform them at local venues. You can also create your comedy on social media or any other type of online content. You can also try partnering with other comedians and creating comedy productions together.

Whatever you decide to do, ensure that you produce high-quality content that people will enjoy. You must also be creative and think outside the box when marketing your comedy business. You can use social media platforms, online ads, and even word-of-mouth marketing to reach potential customers.

How much you can make: $20,000 – $100,000+ annually
How much does it cost to start: $500 – $5,000
How long does it take to build: 6-12 months

YouTube pranks

YouTube pranks are a great way to get your brand out there and make some laughs with your customers. You can create short prank videos designed to entertain and shock your audience.

You can also create long-format prank videos that tell a story. This type of video is perfect for marketing your business in a fun and interesting way. You can also combine prank videos with other types of videos to create a complete marketing campaign.

YouTube is a great platform for creating funny pranks. It is easy to create and publish your videos, which can be shared quickly online. You can also make money from YouTube pranks by selling advertising space on your videos or through sponsorships.

How much you can make: $1,000 – $100,000+ annually
How much does it cost to start: $500 – $5,000
How long does it take to build: 3-6 months

Clown for hire

Clowns provide children and adults with a fun and entertaining experience. They can also be hired for private events like birthday parties or weddings. You can also open your own clown business. This option allows you to control all aspects of your business, from the design of your clown costumes to the type of entertainment you provide. You can also offer special clowning services, such as Clown for a Day or Clown for an Hour.

If you are interested in starting this funny business idea, research the market and find out what other clowns offer. Then, create a unique personality and presentation for your clowns that will set you apart from the competition.

How much you can make: $20,000 – $50,000 annually
How much does it cost to start: $500 – $2,000
How long does it take to build: 1-2 months

Writing and publishing funny stories

One of the most profitable funny business ideas to start is writing and publishing funny stories. People love to laugh, and humor always seems to hit customers. Publishing humorous content can be a great way to get your name out there and create memorable experiences for your customers.

There are several ways to approach writing and publishing funny stories. You can start by creating content based on your own experiences or that of others around you. You can start creating your pieces if you have a knack for writing humorous stories. However, the most successful funny business idea often begins with finding an existing market and filling it with funny content, for example be a fortune cookie write and get paid to come up with creative and inspiring messages to put in fortune cookies.

How much you can make: $5,000 – $50,000+ annually
How much does it cost to start: $100 – $1,000
How long does it take to build: 3-6 months

Podcasting

You can create a comedy podcast focused on making people laugh. Come up with funny segments, parodies, improv, or even stand-up style material. Or, make a parody podcast that spoofs existing shows by mimicking their format and style but in a satirical way. Whatever you choose , podcasting can be a great funny business ideas that apart from making people laugh is extremely profitable.

How much you can make: $1,000 – $100,000+ annually
How much does it cost to start: $200 – $2,000
How long does it take to build: 1-3 months

Conclusion

Funny business ideas can be a great way to start your own business, From jokesters who sell apparel and accessories that are sure to make people laugh to businesses that offer unique services like pet-sitting that lets you combine work and leisure in a fun way, there’s something for everyone on this list. So what are you waiting for? Get started today and see just how profitable a funny business can be!

More must-read stories from Enterprise League:

Related Articles

Finix Reviews: Is Finix a Good Choice for Developers?

Finix Reviews: Is Finix a Good Choice for Developers?

Finix is a payments company that lets software platforms add card and bank payments directly into their own products, so customers can pay inside the app instead of getting bounced to an outside page. Many platforms want to offer that, and they would also like a share...

read more

11 outdoor business ideas that are profitable (2026)

11 outdoor business ideas that are profitable (2026)

11 outdoor business ideas that are profitable (2026)

September 11, 2024

Profitable outdoor business ideas you should be aware of

There are many ways to make money outside the traditional 9-5 job, so if you’re thinking about starting your own business, this list of outdoor business ideas is for you! Starting an outdoor-focused business can be a fun and rewarding way to turn your passion into a career. 

9 profitable outdoor business ideas you can start today

Here are nine creative outdoor ideas to help you start your entrepreneurial journey.

Outdoor equipment rentals

An outdoor equipment rental business offers customers access to specialty gear for hiking, camping, watersports, and other recreational activities without owning the often costly items. Patrons can conveniently rent equipment by the day or week tailored for their selected adventures instead of over-purchasing niche inventory for a single-use occasion.

For operators, renting high-quality gear allows profitably serving fluctuating seasonal interest across multiple outdoor customer demographics from families to extreme athlete niches without acquiring exhaustive permanent inventories. Outdoor lovers otherwise priced out of owning multiple bicycles, kayaks, ski packages and such find affordable doors to exploring nature more accessible through equipment rentals.

How much you can make: $50K – $500K annually
How much does it cost to start: $50K – $200K
How long does it take to build: 6-12 months

Coffee-to-go

Coffee-to-go businesses are easy to set up. You don’t need a lot of space, and you can open one up anywhere there is a traffic source. Coffee-to-go businesses are also very portable. Moreover, you have huge freedom to choose the location of your business, and at the same time, it is accessible on the go for all your potential customers.  

Coffee-to-go businesses are very lucrative. There is a growing trend of people drinking more coffee on the go, which is a market ripe for exploitation. Most people are also open to trying and tasting all kinds of coffees, which means that you can be inventive when designing your business and stand out from the competition.

How much you can make: $50K – $200K annually
How much does it cost to start: $10K – $50K
How long does it take to build: 1-3 months

Dog walking

One of the most popular and profitable outdoor businesses is dog walking. Dog walking is one of the fastest-growing businesses in the United States. Dog walking can be a great business idea for people who already love dogs and want to make extra money doing something they love. It’s also a great business idea for people with a lot of space to spare. You can set up your business as a full-time or part-time operation. 

How much you can make: $20K – $100K annually
How much does it cost to start: $1K – $5K
How long does it take to build: 1-3 months

Drone operator

Drone operator as an outdoor business idea is perfect for anyone who loves the outdoors and enjoys flying drones. With this business, you can provide aerial photography and videography services to businesses and individuals worldwide. You can also offer drone training and maintenance services to people who want to learn how to fly drones safely and efficiently.

This is a very lucrative business as you can easily make a great living by providing drone services to others. With the popularity of drones growing every day, this industry will continue growing in popularity. So if you are interested in starting an outdoor business that involves flying drones, this business idea is worth considering. If you’re ready to take your drone operator business to the next level, many helpful resources are available online. Consider subscribing to industry magazines or watching instructional videos on YouTube. 

How much you can make: $50K – $200K annually
How much does it cost to start: $10K – $50K
How long does it take to build: 3-6 months

Hiking coach

Hiking coach as an outdoor business idea is perfect for anyone who loves the outdoors and wants to make some money while doing it. It offers guided hikes, backpacking trips, and other outdoor activities in beautiful locations all over the country. Hiking coaches are knowledgeable and experienced guides who will all travelers maximize their hiking experience.

How much you can make: $20K – $100K annually
How much does it cost to start: $1K – $5K
How long does it take to build: 1-3 months

Tour guide

Being a tour guide as an outdoor business idea could involve taking visitors on walking or biking tours of local landmarks and attractions. Alternatively, a tour guide could lead group hikes, and nature walks around scenic locations.  

A tour guide outdoor business idea would require a good knowledge of local geography and history regardless of the specific tours offered. In addition, this business would need to engage guests in interesting conversations and provide them with useful information about the area.

How much you can make: $20K – $100K annually
How much does it cost to start: $1K – $5K
How long does it take to build: 1-3 months

Outdoor cleaning services

Consider your options if you’re interested in starting an outdoor cleaning business. There are a variety of different services you can offer, including cleaning pavers and it’s important to find the right one for your business. Whether you opt for scheduled or on-demand services, ensure your business is equipped to handle all of the market’s demands.

Once you have a solid foundation set up, it’s time to start marketing your business. Building a strong social media presence is key, as is promoting your services through word-of-mouth marketing. With a well-rounded strategy, nothing stops you from becoming an outdoor cleaning superstar!

How much you can make: $50K – $200K annually
How much does it cost to start: $10K – $50K
How long does it take to build: 3-6 months

Mobile car wash

A mobile car wash is a business idea perfect for those who want to start their own business but don’t have the time or the space to set up a traditional car wash. With a mobile car wash, customers can enjoy a convenient and affordable car wash experience without having to leave their homes or worry about traffic congestion.

The mobile car wash business model is simple and easy to set up. All you need is a truck or van with a washing machine, and customers can choose from various car wash services, including full car washes, wheel care, and detailing. You can also offer seasonal specials and promotions, attracting new customers and keeping them coming back for more. With convenient hours that can be adjusted to fit your schedule, this is the perfect option for anyone looking for an easy way to start their own business.

How much you can make: $50K – $200K annually
How much does it cost to start: $10K – $50K
How long does it take to build: 3-6 months

Ice cream shop

Ice cream is a popular choice for an outdoor business and a delicious treat that can be enjoyed any time of the day. Selling scoops and cones from a cart or stand, you can set up in a busy area near a park, playground, or other popular tourist spots. Make sure to prepare treats with premium ingredients and fresh fruit to give your customers the best possible experience.

Offering different flavours and combinations, you can cater to everyone’s taste. If you have a special recipe or secret ingredient, share it with your customers. Not only are ice cream treats delicious, but they’re also a fun way to spend a summer day. Get started on your ice cream stand business today and enjoy the sweet smell of success in the air!

How much you can make: $50K – $200K annually
How much does it cost to start: $10K – $50K
How long does it take to build: 3-6 months

Organic farming

One of the most popular outdoor business ideas is organic farming. This type of farming is growing crops without using harmful pesticides or fertilizers. Instead, organic farmers use natural methods to improve soil fertility. Organic farming is a great way to make a profit. It is one of the most profitable businesses out there. According to The Huffington Post, an organic farm can generate up to three times as much revenue as a conventional farm.

How much you can make: $50K – $500K annually
How much does it cost to start: $50K – $200K
How long does it take to build: 6-12 months

Fishing guide 

A fishing guide provides the boat, gear, and expertise to lead clients to the best fishing locales in the area. They assist with catching fish, provide instructions in equipment use and fishing techniques, and offer navigation services to hot spots where fish are biting. To start a guide business, you’ll need boating and fishing knowledge, a licensed boat, tackle, and a passion for helping clients catch trophy fish.

How much you can make: $20K – $100K annually
How much does it cost to start: $1K – $5K
How long does it take to build: 1-3 months

Conclusion

Some of the most profitable outdoor businesses are those that offer unique experiences. To get started in the outdoor industry, it’s important to research the market and determine which services are popular among the population. Then, develop a business plan that explains how you will generate revenue.

More must-read stories from Enterprise League:

Related Articles

Finix Reviews: Is Finix a Good Choice for Developers?

Finix Reviews: Is Finix a Good Choice for Developers?

Finix is a payments company that lets software platforms add card and bank payments directly into their own products, so customers can pay inside the app instead of getting bounced to an outside page. Many platforms want to offer that, and they would also like a share...

read more

Reducing operating cost of your business: 23 proven ways

Reducing operating cost of your business: 23 proven ways

Reducing operating cost of your business: 23 proven ways

February 07, 2024

Ways to reduce operation cost in your business

One thing is for sure: in business every penny counts. Therefore keeping a close eye on your operating expenses is imperative. Especially on the “cheap” costs. Business owners often disregard them as significant but when accumulated these small expenses can overburden the budget.

Don’t wait until it’s too late and start reducing operating expenses now.

How to reduce operating expenses in business?

There’s not only one answer on how to reduce operating expenses in business. It all depends on the industry, nature of business, management, goals etc. However, the following ways to reduce operating cost provide a good starting point.

Half the electricity bill

One of the main operating costs prevalent in my company is the electricity bill. When it got too much, we had to find ways to reduce it. The first technique was by mindful use of electric power. This meant switching off lights when they are not in use, taking full advantage of natural lighting during the day, and switching off all electronic gadgets and machines when closing up the office space. We also replaced all previous bulbs with energy-saving ones, and made sure to purchase energy-efficient equipment only during restocking or replacing periods.

Moreover, you can also consider switching to another energy supplier.

Jay Scott, Proprietor at Pugsquest

Lack of QBE (qualified by experience)

Small companies run on tight margins and even tighter cashflow – the challenge is that if you don’t know something the first person you speak to is an expert. Paid media is a great example – I wasted over 7k pounds in 3 months on so-called experts – using my brain and Google I learnt about what was missing and now I can manage the so-called experts and get a good ROI – more sales means more cash.

Kenneth Nel, Founder and Owner of Digital Coach

Audit the online services you use

Nowadays most small businesses depend upon using online tools and services to manage their businesses and increase productivity. Using these tools and services is a great idea, but soon the amount of monthly recurring costs can increase and drain a good amount of money from your monthly budget.

My tip would be to audit the tools and services you use every 6 months and see if you’re actually using and benefiting from them. If you’re not using all of the features in a service, you can think of downgrading. Or even better, switch to free alternatives if there’s one in the market.Businesses should also periodically review their telecommunications expenses, as unused services, billing errors, and outdated contracts often go unnoticed for years. Implementing telecom audit solutions can help identify these inefficiencies and uncover additional savings opportunities. This can help you save some good amount of money every single month that can help you save a few extra thousand dollars annually.

Ram Shengale, Founder of Fantastech Solution

Get better credit cards

We are a small business, who is always keeping a close eye on our expenses. Something we did to reduce operating cost was switch to a business credit card that offers 2% cashback. We pay all of our expenses with this credit card and pay off the balance weekly. The benefit is that we can effectively reduce all of our expenses by 2%, due to the cashback reward. This has saved us thousands of dollars over the course of the year. But it’s only effective as long as you pay off the balance.

Jeff Neal, Engagement Officer at The Critter Depo

 

Hire interns

One of the best ways to reduce operating cost is to hire interns. Interns are paid less than standard workers since they are still learning to work. This cuts costs in two ways: One, since they are learning on the job, they are paid less but still execute the same tasks as full employees. With an operations management tool at hand, you can automatically assign interns to the fitting (probably, simpler) activities based on their skills. There are also no expenses on allowances and other benefits. Two, they can act as affordable hires once they are through with the training. They can be hired without the costly expenses of training new employees since they already understand the tasks at hand.

James Jason, HR at Mitrade

Leverage your business partner’s higher credit rating

A rather unique way of saving on operating costs is by utilizing the higher credit rating of your supply chain partners to reduce your own borrowing costs.

For example, large companies often arrange for channel financing facilities for their vendors and distributors and use their own financial strength to negotiate favorable terms from the banks. If your company has a business relationship with such a large company, you can benefit from such a facility.

Gaurav Sharma, Founder of BankersByDay.com

Ask yourself do you really need call tracking services

Paying a service to link calls to lead sources like Google Ads and Facebook, can be expensive. By porting your phone numbers away from your tracking service to your existing flat rate VOIP phone service, you can cut 90-100% of this cost, which for us was over $1,000/month. We love the tracking, but during a crisis like this, the data is not normal, so not particularly useful for analysis. And we can bring the service back with a few clicks whenever we want, so it’s a particularly easy savings opportunity.

Eric Niloff, CEO at EverPresent

Digital marketing is a lot more budget-friendly than traditional marketing

While cutting operating expenses is a great way to free up cash, I believe it should not affect the top line and the brand’s reputation. At our company, we found creative ways to cut marketing expenses and grow revenues at the same time. We reduced marketing costs, representing approximately 7% of our total costs, and switched to free forms of advertising.

We introduced a B2B referral program, leveraged our social media channels with freelancers’ help, and negotiated deals with content creators. We trained talented people on our team to do several jobs. For example, our customer support manager has a passion for social media, so if he can take care of it part-time, it would have zero impact on our payroll.

JP Brousseau, CEO of Phone Loop

 

Be smart about processing the payrolls

One of the critical measures a small business can take to cut operating expenses is to stop weekly payroll. Consider administrative and payroll processing costs. Especially if, like many small businesses, you don’t have an advanced payroll processing system.

We switched to a bi-weekly payroll reduced admin and processing costs by 40% and improved cash flow. Additionally, we outsourced our payroll services so that employees responsible for it could focus on more profitable tasks. We trained them to take care of customer queries, nurture leads, and participate in other revenue-generating activities for our business.

Thierry Tremblay, CEO & Founder of Kohezio

 

SEO is better than PPC

Google traffic or lead generation is a massive part of our business model and success. To quickly reduce expenses we have stopped paying for Google Ads or PPC (Pay per click) and taken all of our SEO in house. Doing our own SEO has allowed us to drastically reduce overhead while building our organic google traffic to our website, free of charge. Organic traffic is not only free, it is also a much more sustainable long term model for attracting high quality leads.

James Watson, Marketing/Acquisitions at Omaha Homes For Cash

Choose the right email software

Take your email software from $400 per month to $4 like we did.

Most email platforms use a “pay for list size” model, where you pay a monthly service fee regardless of whether you contact your email list or not. As your email list grows to thousands of subscribers, your fees quickly become hundreds of dollars per month. Instead, you can use a self-hosted email sending platform that connects to AWS on a “pay for use” basis. We implemented this change earlier this year and decreased our email fees from $400+ per month to about $4 per month. Plus, our team likes the new software better because it is simple and streamlined.

Michael Alexis, CEO of TeamBuilding

Be careful with your toll-free number hosting company

One way I reduced my operating expenses this year is by changing my toll-free number hosting company. With Kall8 I was spending about $70 per month for three numbers. I market on local business, not nationally, which is why that dollar amount might seem low to you.

I know it doesn’t sound like a lot, but I have been getting nickel and dimed with a lot of small monthly expenses. This year I’m on a cost-cutting marathon.

Although I used it just to reduce my monthly expense, PhoneWagon isn’t designed to just be your toll-free number. It’s designed to help you track where your call-in leads come from. Their pricing currently starts at 500 minutes a month, with five tracking phone numbers for $45. That’s a 36% savings, and only took me a few minutes!

Not only do we entrepreneurs need to watch the large expenses, but we also must take a look at the small expenses that are eating us alive.

Kathe Kline, Founder of MedicareQuick

Get yourself a Virtual Assistant

Dedicated assistants are essential when running a monetized website. You pay them by the hour usually using paystubs as opposed to monthly salaries. Also, the assistant is a freelancer so you don’t have to bear additional benefits. Apart from the much needed help, you can get much more from the hire by contracting someone from the other end of the globe. That way, both of you can run a

24/7 operation to earn more money.

Swati Chalumuri, Founder of HearMeFolks

Buy assets and supplies, don’t lease

Buy instead of leasing. Keep the profit you’re paying to your lease financing company. Interest rates are at record lows. Buying an asset may also provide a large immediate tax deduction. Some businesses lease to show less debt on their books. A new lease accounting rule starting soon will force them to record the cost of all future lease payments. Buying commercial real estate is especially attractive right now because prices are low. Buying is an investment you make today that can reap both cash flow and profits.

Rob Stephens, Founder of CFO Perspective

 

Rent out free desks

Office space can be reduced quite easily. If you have 1-2 desks free in your office you can rent them out for an affordable price to hot deskers – freelancers or remote workers looking for an office environment.

A small charge of $100-$150 a month per seat will take a healthy percentage from your office costs.

My office used to be $1200 a month. I rented out 3 hot desks for $450 total, giving me a saving of 37.5%

Brett Downes, Founder of Haro Helpers

Increase employee satisfaction

One of the most powerful, and most overlooked, ways in which companies can reduce operating cost is by increasing employee satisfaction. Studies have shown that when employees feel appreciated, valued and understood, their level of productivity increases which then increases the level of benefit and profit employers can obtain from their employees. When employees feel burned out, underappreciated and undervalued, they tend to put forth less effort and hard work which increases attrition in the workplace. Employees that are a drag on the company increase operating expenses because they fail to carry their weight.

Jeff Dundas, Owner and CEO of  Talk Central

Know your taxes

Taxes are one of the single largest expenses any business incurs. Most small business owners fail to realize that individuals earn money, pay taxes on those earnings, and spend what is left. Businesses, on the other hand, earn money, spend that money, and pay taxes on what is left. One of the first things I tell clients is to move as many expenses to the business as legally possible.

This could include cell phone service, company car, and much more. Increasing justifiable business expenses is one of the easiest methods for legally reducing one’s tax obligation. It is also worth using a leasing lawyer to assist with getting a rental deduction and saving money. 

Go paperless

Not having to spend money on paper products, including marketing collateral, can save thousands of dollars over the course of a year for a small business. And it is better for the environment as well. With so many digital options for marketing and tools for paperless communication, it really is easier than ever to cut this cost.

Jesse Silkoff, Founder of MyRoofingPal

Embrace automation

Fully embracing automation is a major lever in reducing marketing expenses. Whether it’s scheduling and posting on social media, sending monthly newsletters, or optimizing digital marketing campaigns – automation should have a big role to lower costs. Automation can both reduce manual time spent, and increase efficiency. At Wilbur Labs, we encourage founders to

constantly think about how they can add more automation into their marketing strategies and any other areas that would benefit the business.

Phil Santoro, Co-Founder of Wilbur Labs

Bater your services

One uncommon way to reduce operating cost and save money in a small business is to barter your services. For example, if you have experience in PR, you might offer that to someone who can update your website. The examples are endless. And even though it might seem a bit stale, in today’s competitive business environment, it’s a shrewd and effective tool. And the most specialized your talents and skills are, the more you can command for them in return. Bonus points if you can identify businesses or companies who need your particular skill or talent (and that you need theirs) which increases your chances of success. 

David Walter, CEO of Electrician Mentor

Reduce business travel expenses

Business travel eats up quite but of your operating costs. They are unavoidable but you can cut down the unnecessary expenses associated with business travels. One way to save costs is to consider booking flights that will take you to a small, regional airport instead of a major airport hub. They cost less and can help you save money on your business trips. By developing a travel itinerary ahead of time, you can book in advance and avail of cheaper tickets. Booking at the last minute will cost you more. You have to consider also if traveling is really necessary. If not that necessary, you may consider a virtual meeting through the various digital resources. This will help you cave both time and money and is an effective way to reduce costs.

Michael Hammelburger, CEO of Expense Reduction Group

Switch to remote work

Managing a physical office is costly. Allowing my team to work remotely reduces the total costs for office space. Our team doesn’t require face-to-face interaction with customers, so remote work is the best option to cut costs. In our technology-driven world, communication in many ways is possible. We use Slack to communicate and collaborate instantly. Doing this increases my team’s productivity and efficiency as they can work comfortably in their own homes. I’m able to save money as I don’t need an office space anymore, which increases my revenue.

It is a simple way of reducing operating costs. In these times of pandemic, remote working is highly effective and beneficial both for the employer and employees. Of course, it depends on the nature of your business. Assess yours, and you’ll see and find where you’ll be able to save money.

Mason Culligan, Founder and CEO of Mattress Battle Inc.

 

Outsource the back-office work

Regardless of the kind of small business you are running, you always need a back-office team to hand some of your day to day work. For example, you can outsource your managed IT services to expert IT assistance providers who can offer specialized services and expertise in this domain, and other backend processes. In my opinion, companies can reduce back-office costs dramatically with the help of outsourcing. Now the question comes up – how outsourcing back-office processes save costs?

When a business outsources back-office operations, they don’t need to rent out space, spend on equipment, software, recruitment, employee training programs, and employee benefit programs, like insurance, 401(k) plans, etc. When there are no such expenses, businesses can save a considerable amount of their overhead.

In an Australian survey of 7500 public organizations, outsourcing saved around 46% of costs over in-house.

Jessica Smith, Senior Accountant at Cogneesol

Conclusion

Reducing the operating costs of business won’t be a one-time job. This is an ongoing process that never ends. Your best chance at running a lucrative business is to become smarter in balancing your operating budget. As you see, small changes can make huge difference in business.

More must-read stories from Enterprise League:

  • Can you use TikTok marketing for your small business successfully? Find out here.

Related Articles

5 creative strategies to help you take your business to another level

5 creative strategies to help you take your business to another level

5 creative strategies to help you take your business to another level

October 25, 2022

Taking your business to another level

The lack of a tangible business growth strategy only positions a business for a fickle customer base and undesirable market fluctuations. Truth be told, not every business out there can attain a billion-dollar global brand. However, any business can grow significantly to something sustainable. 

Business growth requires strategy. It comes with many risks, and business owners cannot rely on one plan to act. Growing a business means the combination of different strategies to win. This article highlights five strategies businesses can employ.

Unique strategies your business should take advantage of

Before diving in, it is essential to know that the strategy used largely depends on the competition, where a business is financially, and government regulations. A small business that was initially able to access a PPP loan may not get one today following the program’s ending. However, there are still many funding options available to finance these strategies.

Product development

Product development aims at launching new products or services within the existing market(s). A business may expand its product line or include additional features to boost sales and profits. This strategy can be used to extend offers proposed to the customers to increase their turnover. The strategy does well for businesses affected by technological changes. Product development can be attained through developing different products and investing in research- market research helps determine the factors that have impacted product or service demand.

Business owners must also ask themselves whether their product marketing strategy is still viable. Often, a product’s value proposition and messages may no longer relate to the current market. 

Furthermore, it is essential to analyze whether competitors offer better quality or more features at the same price. Businesses must also evaluate customer service requests, feedback, and reviews. 

A business performing a forensic product line review can then determine how to move forward and boost its growth.

Market penetration

Market penetration is a strategy for increasing market share. Typically, the goal is to promote a newly-launched product or sell more existing products successfully. 

Market penetration is attainable differently. For instance, businesses can provide new services or products as free trials or offer them at discounted prices to customers. Businesses can also discount large orders or lower the price of a product or service to beat a competitor with the same offering. 

Reducing prices may be unappealing initially, but it can work well for short-term expansion. It works for businesses offering very generic products. Those who cannot improve or increase product range and can only promote existing products should make their products more attractive and promote them more.

Market development or expansion

Market development is a strategy for increasing sales to markets that may not have been previously explored. For this strategy to work, business operators must analyze how their existing products and services can reach new markets or how they can grow their existing market. 

Market development is critical when sales stagnate or when a business wants to reach a new target demographic, foreign market, corporate department ( for example, moving from finance to HR), or location.

Sales and profits will likely suffer if a business cannot find new markets. As observed in the Covid-19 era, many businesses have abandoned traditional ways of reaching their markets due to interrupted supply chains and safety protocols. Many have had to move their businesses online to retain their customers and, at the same time, reach new ones.

Strategic partnerships and acquisitions

Sometimes joining forces is a viable growth strategy for a small business. A partnership may offer extra resources like skill sets, technology, equipment, or workforce to facilitate growth based on the type of business. In other cases, partnerships provide the businesses with avenues for expansion into new markets without direct competition. 

Partnerships may generate growth that would otherwise be impossible to attain, especially for businesses that offer products or services that complement each other. Partnered businesses can receive referrals and benefit from free publicity or established brand goodwill.

Acquisitions are also good strategies for growth, especially for businesses with substantial cash flows or debt capacities. They allow a company to purchase another to expand or enlarge its operations. 

Through acquisitions, businesses reduce competition if they acquire direct competitors. They can also access proprietary technology that may otherwise require significant resources to develop and a customer base. 

Since the market and products will usually be established, a company that acquires another must be aware of precisely what it wants to achieve through the acquisition. That is because an acquisition requires a significant investment to implement. Startups, in particular, must carefully evaluate the potential benefits and risks of an acquisition, using startup data and market analysis to inform their decision-making process.

Market segmentation

Market segmentation is another effective growth strategy for small businesses. Instead of having one big customer group, a business can segment itself and sell to customers based on factors like purchasing history, preferences, locations, interests, and other demographics. 

A business can create a personalized campaign for its target through segmentation, increasing the likelihood of success.

Market segmentation can also be done for more effective competition in a crowded big market. Rather than casting a wide net, a business can employ detailed market research to determine the highest buying personas. Such research may involve website analytics and email surveys to understand customer preferences and traits.

Market segmentation may seem complex and time-consuming, but customer relationship management tools can help. A business owner can then focus better on tracking results and modifying marketing campaigns.

Conclusion

For many businesses, growth is an essential objective. Business growth happens when a company increases revenue, expands its customer base, or begins producing more products and services. 

However, several methods or strategies facilitate growth by influencing business decisions for overall success. Business owners who want to see substantial growth can use the above strategies to expand. Any strategy will depend on a business’s product or market approach and the risk involved.

More must-read stories from Enterprise League:

Related Articles