If you are an experienced small business operator, passing on your experiences to new entrants could be a useful side business.
MYOB's latest SME Snapshot survey found that 38 percent of SMEs surveyed said they had learned by trial and error. 32 percent said accountants and financial advisors were important sources of information and advice, and the same proportion nominated professional networks.
"Start-ups are basically learning on the job, and tapping professionals around them for advice," said MYOB CTO Simon Raik-Allen.
"When you combine this with our last SME Snapshot finding that showed that some 78 percent of SMEs think that you don’t need a degree to run a business, we can see a real opportunity emerging to provide practical training for entrepreneurial types."
If you're not convinced, you might look at the example of US-based Ramit Sethi's Zero To Launch course, which claims to take people who want to start an online business but aren't even sure what that business should be through to getting it off the ground. If Sethi is to be believed (and we're not suggesting there is any reason why he shouldn't be, and we only mention him as an example), both he and his customers are making money.
Interestingly, one thing Sethi repeatedly emphasises is the way small changes can make a difference, and that it is important to test different ideas and measure the results. Remember, Google found that fine-tuning the exact shade of blue used in advertising links boosted annual revenue by $US200 million.