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51 Small Business Ideas for Women

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business idea for women

This is a list of small business ideas for women, but that doesn’t mean that a man can’t use this list to find something too. Women represent a growing percentage of the workforce, but many struggle to find jobs.

The economy is constantly changing and adapting with new trends and opportunities emerging all over the country which means that no matter where you are or what industry you work in there are ways to make money as women today!

How To Choose a Business Idea

How does someone decide on the perfect idea for their business? Consider what you’re passionate about and how your skills complement it. Finding a service that people are willing to pay money for is always helpful too!

Consider if there’s something, in particular, you love, like maybe animals or an art project. Maybe you have thought about starting a business before but didn’t know where to start, so now might be the time! When considering ideas, think of your own skillset- do they match up with anything from our list below? Is one more interesting than another based on these factors alone?

Below we’ve listed over 50 business ideas for women entrepreneurs who want to take their careers into their own hands.

Exciting Small Business Ideas for Women

I am passionate about the small business ideas for women on this list because I’ve used some of them to build my own income from home, and there are so many that can be tailored to your specific needs.

Now is an amazing time for female entrepreneurs – no matter what they’re interested in or how much money they have (or don’t). The internet has given us all opportunities at our fingertips. I hope this list will give you new inspiration while helping you find where YOU fit best.

1. Baking

Does everyone always rave when the time comes to try your cookies at the bake sale? Have friends and family members been in awe of your cakes for years?

If you have a talent for baking, make the most of it! In many cases, you can start a baking business out of your home, putting together cakes, cookies, and other delicious treats for paying customers.

Take your talent beyond potlucks and classroom parties, show off your decorating expertise, and learn how you can make extra money doing something you love as you put together your home baking business.

Make sure that you check your state’s cottage laws to discover what is necessary in order to turn your home kitchen into a productive home-based business.

2. Crafts

You love putting together crafts, whether it’s sewing, knitting, crocheting, or painting.

If you have a home littered with crafts or you’re struggling to figure out what to do with them all–or if you have a craft closet stuffed full of supplies that you never get to use–consider turning that crafting business into extra spending money.

You can set up at local craft fairs to sell your wares or put together an online shop to help expand your reach and discover just how many people will fall in love with your products.

Make sure to do some market research, especially if you’re going to be selling online.

Are there enough buyers to support your plans and make it worth your hourly wage? These simple questions can help you find the right corner of the market for you.

3. Pictures

One of my favorite small business ideas for women is taking and selling pictures. You have the best kid pictures in your friend group.

People are always asking you how you get your kids in such great poses, but to you, it’s just intuitive! Perhaps you have a gift for seeing something through the eye of your camera that others fail to notice.

Whatever the case, consider how you can turn that talent into a productive home-based business. Do some kids’ or family photography, or take your talents beyond that and try shooting weddings, graduation photos, or other important life events!

online tutoring business idea

4. Teach or Tutor

You’ve helped your kids through some of those complicated math problems that no one else seems to understand–including explaining Common Core with ease. Perhaps you have a gift for teaching kids how to write, or for editing teens’ papers in a way that helps them better understand the writing process.

If you’re a good teacher, consider a home-based business in tutoring! A couple of hours a day after school can help rake in some serious cash, especially as you start to form a solid client base.

You can tutor from home or try a local library or other public space, depending on your clients and your personal needs.

home childcare business idea

5. Home Childcare

Maybe one of the best business ideas for moms is childcare. You’re already at home with your kids during the day. Why not take advantage of that and bring in some built-in friends for a playdate at the same time?

Offer childcare to a friend or family member who has to work–or start an entire daycare business out of your home. You’ll be able to keep having fun with your kids and add a few more to the mix at the same time. Even better, they’ll never complain about being bored again!

elder care business idea for extra cash

6. Eldercare

Not everyone is suited for interacting with other people’s children. Do you enjoy working with the elderly and listening to their stories?

Consider being a caregiver for the elderly. In some cases, you may be able to bring the kids with you. They’ll light up an elderly person’s day and gain an extra “grandparent” to spoil them in the process.

Not only can this be a rewarding experience, but it can also pay off in the near future with a steady paycheck that helps you meet your financial obligations.

fitness business ideas

7. Fitness Trainer

Have you put a lot of effort into learning how to do yoga or tightening your body through aerobics? Have you worked with a specific program or learned a ton about overall fitness, especially if you were struggling to adapt to your new post-baby body?

Becoming a fitness trainer is a great way to work with a wide range of clients to help them reach their goals, which is a new fitness high in and of itself. Not only that, it’s a surefire way to increase the odds that you’ll get your workout in each day!

event planner business idea for women

8. Event Planner

Do you put together amazing bashes that everyone can’t wait to attend? Are your kids’ birthday parties the talk of the town? Try putting together a home-based business in event planning. In many cases, other busy parents can’t wait to pay you for those services.

Not only will you get to plan amazing parties on someone else’s budget, but you’ll also be able to make little extra money on the side–and you’ll get some even more incredible ideas for your kids’ next parties. Social media can be an important part of growing your business.

proofreading business idea for women

9. Proofreading

You’ve always had an eye for detail in other people’s writing. Why not turn it into a home-based business? From college students who are eager to turn in the perfect paper to would-be writers who need an extra eye on their new books, there is a wide range of proofreading clients out there.

As a bonus, you’ll be able to work from anywhere: take papers along with you to your kids’ lessons and classes, work on the commute to and from your primary job, or take them with you on vacation, if you so desire.

Online store business ideas

10. Design and Sell Products With an Online Business

CNBC recently wrote about a website called Zazzle, a growing company that makes it easy for you to design and sell your own products.

You can sell stickers, clothes, jewelry, accessories, housewares, office products, art, food, and more. This site is not a listing site like eBay; you sell through a store you set up on their site or your website. The goods are made-to-order, cutting out the huge fees associated with inventory and fulfillment.

11. Temporary Tattoo Artist

Provide a fun and unique service at parties and community events with temporary tattoos. A tattoo artist is sure to be a hit by providing a way for customers to let loose and be creative. 

A significant advantage to this business is that you don’t need any specialized equipment to get started, this keeps your startup costs low.

You can learn how to apply them by watching Youtube videos. You can find inexpensive supplies at the Oriental Trading Company or create your own at Temporary Tattoos.

12. Professional Organizer

If you like working with people and love finding new ways to keep things organized, then it might be time to become a professional organizer.

Help your clients bring order to their lives by creating a system that keeps everything in its place in their homes, offices, and filing systems. Wiki How has some useful tips for getting started in an organization business.

You can use social media to promote your services and make it easier for people to find you. Most people can use a little help organizing their lives, which will create new business opportunities for you.

13. Run Errands

Busy moms, shift workers, sick or injured people, and people who work 9 to 5, all need help from time to time getting things done. An easy business to start is running errands in your community.

All you need to do is offer your service on a person-to-person job website such as TaskRabbit, or use social media.

You can start this business part-time during school hours and on weekends, which makes it an easy business to get started within the near future.

landscaping service business ideas

14. Landscaping

Do you dream of working outdoors? If so, landscaping is one of the low-cost business ideas you might want to try. A pickup truck, lawnmower, weed eater, and some shovels may be all you need to get started. Offer to mow lawns, pull weeds, mulch flowers, or tend a vegetable garden.

Social media can be a great way to get started with this business because if you post before and after pictures of your work it can really help get new customers interested.

15. Flea Market Flipper

Is bargain hunting your jam? If you can’t pass up a good yard sale and you know a good deal when you see one, flipping might be a good business for you. You might even consider starting a recycling business.

Flea market flipping is also a good option for a teen looking for a job. Dabbling in the world of used goods has its benefits, not to mention it can be fun. Find your favorite items at any flea markets near school, or ask your parents to take you on the weekends.

16. Virtual Assistant

A virtual assistant can make anywhere between $10 and $100 an hour depending on your level of expertise. Nowadays virtual assistants perform a wide variety of tasks, everything from simple data entry to social media management and website maintenance.

To start your own business, you’ll need to set up a website, a place where you can advertise your services. Ready to get started? Enroll in this mini-course, Jumpstart Your Virtual Assistant Business (In 4 Quick Steps).

17. Car Detailing

Another easy business idea is car detailing. For about $400 you can buy all the supplies that you need to start washing vehicles. Depending on where you live, you might need a garage to work in.

Or if it’s not practical to have your business in a garage, there are plenty of other options. Some people like to work out of their driveways, designated parking spaces or rent a garage.

Businesses like this don’t require much startup capital and they provide great rates for customers. Once you get started, you can build up your clientele with social media and grow your own business without too much trouble.

You don’t need to work for anyone else when you have these great business ideas at your fingertips. For example, if you want $1,000 per week working part-time it is possible with a business like this!

grooming business idea

18. Dog Groomer

If you have a soft spot for furry friends, then consider becoming a dog groomer. It’s important to take the time to properly groom dogs.

You may need a few years of practical experience before moving forward with starting your own business, but it’s a great way to make money on the side or turn it into a full-time enterprise.

One of my favorite small business ideas is working with animals. My friend Niki started a grooming business in her garage. Niki worked evenings and weekends to build up her clientele before she left her 9-5.

Now my friend has a thriving service business that employs several people. Working for a dog groomer is an excellent way to get the experience and connections that you need to start a grooming business.

19. Bookkeeper

One of the best small business ideas to work from home is bookkeeping. Get paid to help companies keep track of payroll and spending, and prepare financial reports. The average salary of a bookkeeper is about $40,000. Here are steps you can take to become a bookkeeper.

If you enjoy math and finance, this might be an excellent way to make money from home. If you want to go the technical route, consider taking some courses in QuickBooks to learn how to keep financial records for small businesses.

20. Clean Houses or Businesses

I think cleaning houses is one of the most profitable small business ideas for women to consider. Two of my friends are in the cleaning business; they work together so they can take on more clients.

My friends charge a flat fee depending on the size of the house and the number of occupants. The scope of the work is covered with each new client before any work begins. 

The cleaning business offers a lot of flexibility; you can choose the days that you want to work as well as how many clients you want.

21. Bed and Breakfast

If you enjoy hosting guests, a bed and breakfast might be a perfect small business for you. Build new friendships with your guests and increase your income at the same time.

By offering a variety of room options and amenities, you can build a reputation for being the go-to place in your community.

You will need to purchase some basic furniture and other supplies, but once that is done you’ll be able to start getting more reservations every day.

A bed and breakfast may require some work on your part, but it can be one of the most fulfilling careers around.

22. Blogger

Making money as a blogger is the best thing ever. It’s a great way to get paid for being creative and sharing your ideas. To be honest, I spent a year and a half working on my blog and not making any money at all.

I think the only people who were reading my blog were my husband and a couple of co-workers. 

But things have changed, recently I took the Profitable Blogging Roadmap and rekindled my love for blogging. Now I get up every morning excited to see how many new viewers I’ve gained along with the increase in my income. 

I just wish I had taken the course when I first started blogging, I wasted a lot of time trying to figure things out on my own.

If you’re not ready to jump into blogging you might want to try creating YouTube videos to earn affiliate income. Here’s a guide to help you get started with your first video.

23. Freelance Writer

Writing is a passion for many, whether it’s short stories, novels, or something else entirely.

While you may think you’ll never be able to make money writing the great American novel in your spare time, there are several freelance writing opportunities that can earn you extra spending money while doing what you love.

Some of the most popular ways to earn money for your writing include:

  • Freelance writer for a local paper or magazine



  • Proofreader, copy editor, or general fact-checker



  • Technical writer



  • Resume writer for others looking to make a big career change

There are many freelance writing opportunities out there if you know where to look, so do your research and explore the many possibilities available.

24. Interior Design

Do you have a knack for picking the perfect colors and furniture pieces to create a room that’s just as warm as it is welcoming? There are many people who would pay you to come into their homes and help them decorate.

Interior designer may not be your first thought as a small business, but there are clients who are waiting for you to make their homes beautiful.

Many people will suggest using Facebook or other online options to build your clientele, but it’s far better to ask around and find out what kind of decorating services your community needs.

Your best bet is likely going to be speaking with friends and family members about their future decorating needs, but don’t neglect word-of-mouth advertising.

Word travels quickly in many small towns and once you get the ball rolling, it will be easier than ever to drum up business.

25. Social Media Influencer

Now, this may seem like a stretch, but there are more opportunities than ever for you to become a social media influencer and use your personal brand to earn extra money either through direct sales or affiliate marketing.

Many people start out promoting products they love on their Facebook page or other social media sites and then discover that they can earn even more money if they sign with an affiliate marketing firm.

Affiliate marketing firms will allow you to promote their products on your social media sites and in return, you’ll get a percentage of each sale that is made through your unique referral link.

If it sounds simple, that’s because it can be, but there are many pitfalls that you’ll need to avoid if you want to maximize your profits.

Regular posts with affiliate marketing links can quickly turn off many of your followers, so it’s important that you only post when you have something relevant and helpful to say.

26. Life Coach

Do you have an overflowing number of friends who seem to be coming to you for advice on everything from dating to finances?

If so, it might be time to consider the business idea of becoming a life coach. This can be one of the more difficult professions to master because you’ll need to be a master at listening and asking the right questions.

Your job will naturally be to take the advice you give and personalize it for each of your clients, but you can also make money by selling several coaching packages or one-on-one sessions.

Many people start by offering their services on a per-session basis, which can help you build up your clientele before you decide to launch into full-time life coaching.

Make sure to do plenty of market research before you jump in head first, as some of these professions are more lucrative than others.

27. Create an Online Course

One of the best business ideas is to create your own online course. You can teach just about anything if you put your mind to it and there are plenty of people out there willing to pay for high-quality training that they can access from their computer or smartphone.

An advantage of creating your own course is that you don’t have to share the profits with anyone else. Plus, you can promote your class and drive more traffic to your website through affiliate links and social media platforms.

28. Food Service

If you enjoy cooking and working with food, then this is a small business idea you should consider. You can start from home or from a commercial space in your area.

A catering company might be another option for you if you want to work in the food industry but don’t have the time or interest in working directly with customers.

If you enjoy cooking for others, then a personal chef business is a great option to consider seriously. You can cook for people on special occasions or even offer cooking classes to show others your skills.

You may want to focus on a certain cuisine, such as French or Italian cuisine. You should also consider baking and providing desserts if that’s something you’re good at.

And don’t forget the social media aspect of this business: take pictures of your finished dishes and post them on Facebook or Instagram for all your future clients to see. You can even offer cooking lessons through social media, which may be an easier way to get potential customers interested in what you’re offering.

29. Sell on Etsy

If you love crafting and making beautiful things, consider opening an Etsy store. You can make a variety of different products and sell them on the popular e-commerce marketplace.

The great thing about opening an Etsy shop is that you don’t necessarily need a huge following to be successful: if you make a quality product and price it competitively, you’ll likely sell enough of your products to make a decent profit.

Etsy does take a portion of the sales from each transaction, but if you stick with it you can easily build up an audience that trusts your brand and makes future purchases. This is one of the best business ideas for stay-at-home moms who love to craft.

30. Open an Online Store

Have you ever thought about opening your own online store? If you have a knack for business and love to sell, then an online store may be a great small business idea for you. You can sell just about anything on the web these days—from your homemade crafts to cute outfits or even hair accessories—and you can earn a pretty substantial amount of money per sale.

You can sell anything from clothing items to household gadgets through a company like Shopify. It doesn’t cost much at all to get started with Shopify, and if you’re willing to put the time into building your business, it could turn out to be a great investment.

For Additional Business Ideas for Women Consider:

  1. Interior Designer



  2. Dog Walking



  3. Sell On Amazon



  4. Laundry Business



  5. Rental Business



  6. Graphic Design



  7. Real Estate



  8. Publicist



  9. Wedding Planning



  10. Fashion Designer



  11. Massage Therapist



  12. Pet Business



  13. Web Designer



  14. Travel Agent



  15. Public Relations Consulting



  16. Brand Ambassador



  17. SEO Consulting And Strategy



  18. Massage therapy



  19. Freelance website designing



  20. Freelance coding



  21. Antique or thrift shop owner



  22. ATM Business

What To Consider Before Starting Your Own Business

There are a few things to consider before starting your own business. Consider the industry you’re going to enter and what kind of competition there is in that field. It’s also important to think about how much money it will cost you, what skills you will need and who you might be able to work with.

You want to make sure that you can compete in the market before entering it. The best way to do this is to research other businesses in your industry. Take a look at companies like yours and see how they are marketing themselves. Look into the prices they charge, what type of clientele they attract, and if their pricing or services are better than yours.

You also need to consider your experience. If you’re selling consulting services, for example, how is your experience in that area? Do you have enough contacts, knowledge, and skills to give the best advice possible within this industry?

If there are already businesses like yours out there, it doesn’t mean you shouldn’t start your own. Perhaps you can offer something different than what’s currently available. It might mean that you specialize in a certain area or that you can provide better service for less money.

Administrative service is the most commonly outsourced job on freelance websites like Upwork and Freelancer, with billions of dollars spent on this type of work every year. This presents a huge opportunity for women who want to start their own business and work remotely.

Another option is content and copywriting, which is projected to be a billion-dollar industry this year. If you’re good at writing and love doing it, this could be a viable business option for you.

The options are really endless when it comes to starting your own business as a woman. These top 40+ ideas should give you a good starting point, but don’t hesitate to think outside the box. Good luck!

Did You Find Any Business Ideas You Liked

Starting your own business is a great way to increase your income while doing something that you genuinely enjoy. It can also create additional revenue that will help support your family if times get tough, even if it’s just a side business.

Need more small business ideas for women or help with how to launch your own home-based business? Read these passive income ideas or leave a comment below and let us know how we can help.


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AI Marketing vs. Human Expertise: Who Wins the Battle and Who Wins the War?

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AI Marketing vs. Human Expertise: Who Wins the Battle and Who Wins the War?

Opinions expressed by Entrepreneur contributors are their own.

Uncover the truth about AI in marketing and why it’s a ticking time bomb for unprepared businesses! As AI revolutionizes the marketing landscape, understanding its long-term impact is crucial.

In this video, I dive deep into the reality of AI marketing, exposing the myths and revealing strategies to stay ahead of the curve. Learn why AI might play in your favor for the next 3 years, but could spell trouble if you’re not prepared for what’s coming. Discover how to leverage AI tools effectively while developing a future-sighted approach that will keep you competitive in an AI-driven world.

Download the free ‘AI Success Kit‘ (limited time only). And you’ll also get a free chapter from Ben’s brand new book, The Wolf is at The Door – How to Survive and Thrive in an AI-Driven World.’

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5 Financial Blind Spots That Could Be Preventing You From Making More Money

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5 Financial Blind Spots That Could Be Preventing You From Making More Money

Opinions expressed by Entrepreneur contributors are their own.

Money can often be the barrier between being stuck where you are or breaking through to the next level. This includes having or not having a budget, using it properly, hidden revenue or even misaligned goals — all of which influence your growth trajectory. These four common secrets have helped my company elevate our clients to the next level.

1. Financial transparency for ROI

The first blindspot we often notice with new clients is not having a clear reporting connection between your tools, like ads and a CRM like HubSpot, to see which channels drive the most significant return on investment (ROI). Do you know your best-performing channels? Or your best-performing piece of sales copy? What is the most opened document that leads to a closed deal?

And we’re not just talking about marketing and sales; this applies to many connected platforms — for example, the closed-loop revenue or your ERP systems. When things are not connected, they are disjointed and siloed. You end up flying blind. Without connecting your marketing tools with your revenue tools, and with that being CRMs, finance platforms, or ERPs, to name a few, there is a disconnect, and the arms and legs end up moving in different directions.

Here’s a simple example we see all the time: If you knew that one channel drove more deals by a 75% faster conversion rate, wouldn’t you invest more time and energy in that channel than one that only had a conversion rate of 10%? Many people don’t want to share the revenue numbers within the company, but all of that information informs the other departments; without sharing these revenue numbers, your money secret is keeping it in hidden silos.

Related: I Hit $100 Million in Annual Revenue by Being More Transparent — Here Are the 3 Strategies That Helped Me Succeed

2. Strategic investment for avoiding blind spots

Another financial blindspot is not investing in marketing. We have had prospects come in with no budget and no internal marketing team, but we want to grow by 150% and spend a total of $1,000. I wish achieving growth like this was possible, but unfortunately, it’s not. The old adage that you get what you pay for, or it takes money to make money, speaks the truth. Your investment goals should match your growth goals. The amount of money invested should be measured not just by short-term, quick wins but also by looking at long-term investment to growth.

You would never measure an HR department strictly on the number of hires. However, looking at the whole picture of longevity amongst many other important KPIs, You would not use an HR department for a few months. It is something that is constant and needs care and attention. Marketing is no different — if you strictly only measure marketing by the number of leads, you are missing out on the full picture. Marketing helps push leads through nurture campaigns, creates automation, leads scoring, builds new campaigns and tests, supports sales enablement activities and many other components. A buying cycle is rarely a straight line to click and buy unless we’re discussing Amazon.

That said, everyone has budgets, margins and bumper lanes they need to stay in. I am by no means saying throw your budget to the wind, but your goal should match your budget. If you have modest growth goals, be realistic about the budget needed to get there. Set incremental micro goals but stay the course for long-term growth.

Related: You Won’t Have a Strong Budget Until You Follow These 5 Tips

3. Data-driven decisions to save money

Another money secret that costs companies is spending without the data to back it. We had a company inquire about a new website, a full blow-up, new navigation, new content, new page layouts, migration onto a new CMS, a new theme and the works. They said they had a $75,000 budget for the whole project. In theory, it sounds great, right? Willing to invest? Check. Has a budget? Check. Know what they want the end result to be? Check. But when we asked them the next question, they looked at us like we were crazy, “Do you have data that backs the changes you are looking to make?” Are you running a tool like Hotjar to see real user data behind how these proposed changes will impact your existing inquiries and the only source the sales team was currently using for leads?

The answer was no. When the heat map was overlaid, do you know what happened? Well, they were looking to build that new navigation out and replace the old one — nearly 90% of the traffic was going to two pages of their site directly from the navigation, both of which they had originally wanted to remove. In this case, it wasn’t just about having the money but also about making sure the decisions you make with the budget are informed by real data: user data, sales data, marketing data and more. The more informed you can be by closing the loop on your data, the better your end result will be.

Related: Want to Be Better at Decision Making? Here are 5 Steps to Better Data-Driven Business Decisions

4. Modern marketing channels to drive growth

What is likely costing you the most is using old-school channels without the ability to measure. Companies have spent the last decade on traditional marketing channels and are switching to digital. The company’s historical growth has relied on things like trade shows, print, postcards and online magazines. We ask what the ROI you have seen by each channel is, and rarely can they share a specific revenue number and say it is for brand awareness. Some of the budgets can be over 50 to 100 thousand dollars spent on these traditional methods, but there is no ROI attached, yet they continue them.

When the pandemic happened, we saw a massive influx in businesses shifting from once only boots on the ground to digital. The lockdown changed everything; there were no more trade shows, no more door knocking and no one picking up their mail or faxes daily. It made traditional selling channels challenging and obsolete and forced a new level of openness to try new ways to get the job done. In the example of running online magazine ads there are lots of ways to capture them, we can use UTM tracking, referral analysis or create a custom landing page for the offer and capture the leads directly. Without running them to a landing page or form, you rely only on the online publication for leads and analytics. We’ve had people show a list of just names, no emails to follow up with, or only show a random number of visitors to the page, not a single name. It’s important to know what they will provide for reporting and tracking when you publish or use traditional channels. The rule of thumb is to use connections and tools that leverage old-school methods into technology and not blindly spend on channels that cannot be measured.

Stop wasting time, energy and revenue on these blind spots. They have easy solutions, so you can avoid them and focus on growing your business!

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How Nvidia Pivoted From Graphics Card Maker to AI Chip Giant

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How Nvidia Pivoted From Graphics Card Maker to AI Chip Giant

A decade ago, Nvidia was a major graphics card maker, vying with competitors like AMD and Intel for dominance. Now it’s an AI giant with 70% to 95% of the market share for AI chips, and the brains of OpenAI’s ChatGPT. It’s also the best-performing stock with the highest return in the past 25 years.

Why did Nvidia invest in AI chips over 10 years ago, ahead of the competition? CEO Jensen Huang and board member Mark Stevens, Nvidia’s two largest individual shareholders, talked to Sequoia Capital partner Roelof Botha to explain what Botha called “one of the most remarkable business pivots in history.”

Nvidia’s original product was 3D graphics cards for PC games, but company leaders noticed by the mid-2000s that the PC market was hitting a growth limit.

Related: Nvidia CEO Jensen Huang Turned Down a Merger Offer in the Company’s Early Days, According to Insiders. Here’s Why.

“We felt we were always gonna be boxed into the PC gaming market and always knocking heads with Intel if we didn’t develop a brand new market that nobody else was in,” Stevens explained.

Jensen Huang, co-founder and chief executive officer of Nvidia. Photographer: Lionel Ng/Bloomberg via Getty Images

That need for a new market intersected with a product Nvidia already had on hand: its graphics processor unit, or GPU, which could be used to power tasks outside of gaming. Researchers at universities across the world began exploring the graphics cards, eventually building advanced computers with them.

Related: Is It Too Late to Buy Nvidia? Former Morgan Stanley Strategist Says ‘Buy High, Sell Higher.’

Huang recalled meeting a quantum chemist in Taiwan who showed him a closet with a “giant array” of Nvidia’s GPUs on its shelves; house fans were rotating to keep the system cool.

“He said, ‘I built my own personal supercomputer.’ And he said to me that because of our work… he’s able to do his work in his lifetime,” Huang said.

Other researchers, like Meta AI chief Yann LeCun in New York, began reaching out to Nvidia about the computing power of its chips. Nvidia began considering the AI market when AI had yet to enter the mainstream and was a “zero billion dollar market” or a market that had yet to materialize.

“There was no guarantee that AI would ever really emerge because, keep in mind, AI had had many stops and starts over the last 40 years,” Stevens said. “I mean, AI has been around as a computer science concept for decades. But it had never really taken off as a huge market opportunity.”

Related: Nvidia Is ‘Slowly Becoming the IBM of the AI Era,’ According to the Leader of a $2 Billion AI Startup

Huang and other company leaders still believed in AI and decided to invest billions in the tech in the 2010s.

“This was a giant pivot for our company,” Huang said. “The company’s focus was steered away from its core business.”

Huang highlighted the extra cost, talent, and skills Nvidia had to account for with the pivot, as it affected the entire company. It took 10 to 15 years of effort, but that business decision led to Nvidia powering the AI revolution with an early ChatGPT partnership.

“Every CEO’s job is supposed to look around corners,” Huang said. “You want to be the person who believes the company can achieve more than the company believes it can.”

Related: How to Be a Billionaire By 25, According to a College Dropout Turned CEO Worth $1.6 Billion

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