Business Idea: Be a Tutor

If you have a specific specialized skill and passion it can be rewarding to share it with others, plus get paid to do so.  Think broadly here as there could be a niche market you can serve for a specific interest you have that could attract a consistent following.   The traditional areas of tutoring like math and piano lessons come to mind.  How about Arduino programming or airbrush painting?

The market you serve and the topic of the sessions will largely impact the rate that is charged.  Most tutoring is $15-$50 per hour which is a massive range.  Group lessons are a profitable twist to make the rate better for your clients as well as increase your hourly fee.  A private lesson might be worth $50 per hour and you could attract 5 or 6 clients a week.  You will make $250 or $300.  A group lesson on the same topic you can discount to $20 per hour and attract 30 or 40 clients a week in three or four lessons of ten each.  Now you are making $600 to $800 per week and $200 per hour instead of $50.   Maybe you start off with only 2 or 3 students and work our way up.  This model has the ability to grow exponentially as you have more word of mouth referrals.

Depending on your topic you may need to be licensed in your local market.  Generally, this service has extremely low startup cost and no capital investment.  Be creative and see what you can make happen.

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Gregory is the Co-Founder of Finive and a number cruncher himself. He leads the obsession for cash flow for small businesses that is the Finive spirit. With insights into cash flow, business owners make better decisions, increase profit, and achieve their win.

Financial Apps & Tools

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Forecasting Guide

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Free Cash Flow Is  | Helping you understand cash flow and become a cash flow winner

Cash Performance Report

Translating EBITDA into Cash Flow Performance to fuel growth.

Understanding the cash flow activity of the organization creates insights to drive results. The cash performance report creates a clear cash flow picture of the organization by merging the Income Statement and Statement of Cash Flows. 

Three Things Your Budget Must Have

Key elements of a successful budget for a growing business.

Many organizations are starting to think about the 2021 budget cycle. Before you get too far in the planning consider these three elements to produce a quality budget.

Why Your Business Needs Cash Flow Forecasting

Regular cash flow forecasting is an essential part of strategic planning to fuel growth.

A regular cash flow forecasting routine is a catalyst to achieve your growth goals. The forecasting process will force you to do the mental exercise of working ON your business instead of merely IN it. 

Evaluate Performance and Drive Success with KPIs

An introduction creating KPIs for behavior gains in your business.

Business leaders are often seeking ways to find a higher tier of growth and motivate the team to achieve more than they thought possible. We discuss performance with other words, such as targets and objectives. 

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