Start An Economists Business - Business Ideas

Start An Economists Business - Business Ideas
Start An Economists Business

Starting an economists business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell economists services, or selling economists services online, you can use this page as a guide for everything you'll need to know.

Key Stats

revenue (monthly)
$3K
starting costs
$11.7K
gross margin
90%
time to build
210 days
growth
Organic social media
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $0 $7,000
Employee & Freelancer Expenses $150 $250
Website Costs $223 $7,015
Business Formation Fees $600 $4,700
Software Expenses $162 $2,894
Advertising & Marketing Costs $0 $1,400
Total Startup Costs $1,135 $23,259

Successful Businesses

Business URL Rank
The Lens stephaniekelton.substack.com #572
Astral Codex Ten astralcodexten.substack.com #572
Robert Reich robertreich.substack.com #572
Noahpinion noahpinion.substack.com #572
London School of Economics and Political Science lse.ac.uk #13,770
Vysoká škola ekonomická v Praze vse.cz #19,097
Aarhus Universitet au.dk #19,967
UC Merced ucmerced.edu #32,624
American Economic Association aeaweb.org #43,045
Econlib econlib.org #64,469
Lafayette College lafayette.edu #91,740

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a economists business costs significantly less money than most businesses, ranging anywhere from 62 to 23,259.
Rewarding work Starting a economists business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your economists business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Cons Description
Crowded Space Competition is high when it comes to your economists business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Longer Sales Process A economists business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a economists business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a economists business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a economists business, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a economists business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Pat Walls,  Founder of Starter Story
Want to start your own business?

Hey! 👋I'm Pat Walls, the founder of Starter Story.

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