You have a great idea. You have identified a market and checked out the competition. But you have no start-up funds. Is the lack of money a deal-breaker for your dreams? Not necessarily.
Here are some businesses you can start with little or no financial backing.
Turn your talent into income
Everyone is good at something. You can turn that simple idea into a profitable business by identifying where your skills and talents lie. Perhaps you have a way with children, you are a natural matchmaker, or you love to organize special events. These abilities can be parlayed into marketable skills and an actual business, without a dollar of seed money.
Take advantage of the various online programs that allow you to create a brand for your business. Get a free logo, create a WordPress website and launch a business page or account on each of your social media channels. Share videos, photos, and posts about your business and establish a solid online presence. If you are doing what you are naturally good at and love to do, you are bound to excel.
Buckle up your bootstraps
Some businesses will require a minimal amount of start-up equipment. Whether you are painting houses, doing yard work or buying books to resell, you will need a little bit of cash to start. Any profits you make should be invested right back into your business until things get rolling.
You might also find you need a small investment from someone in order to launch your business. Pay them off as soon as you can, ensuring that you are putting money toward making your business sustainable. The idea is to accept as little outside investment as possible so that you have complete ownership and equity in your success.
Today’s market is online
Where are you shopping for goods and services? Most of us start our search online. We do our research and compare prices there. Many consumers also do their actual purchasing online. Certainly, many of us will ask for quotes, set up appointments and reach out to suppliers through a mouse click. If that is the case, it seems only natural that one of the easiest ways to start a business is to launch it online.
With a simple web application, you can set up a number of online businesses and watch your profits begin to roll in. For example: consulting (offering professional advice in a variety of areas of expertise); direct sales (Mary Kay, Avon and a multitude of beauty and homecare products); tutoring (all you need is a Skype connection); blogging (you can make money through ads on your site); and bookkeeping are all businesses that can be done completely in the virtual realm.
If you’re into self-employment, you may want to consider offering services online, such as virtual assistant services. As the traditional business owner looks at ways to cut costs, many offices are downsizing. A virtual assistant (VA) can handle administrative duties for a number of different clients, saving each of them the trouble and expense of hiring a full-time, in-house employee.
With a good Internet connection and some basic marketing skills, you can turn almost any communications, sales or consulting talent into an online business.
Don’t be afraid of the dirty work
There are some jobs that either people don’t have time for, or they just don’t want to do. If you are interested in fulfilling that role, you might find it quite a profitable business venture. These jobs include dog walking; house cleaning; car detailing; and lawn maintenance.
Invest in or rent some basic equipment, set up your social media pages and create some brochures. Put your business cards up all over town. Some people will pay quite a bit of money to come home to a clean house, a content dog, and a manicured lawn. If your clients are happy with your work, they won’t mind referring you to friends and family. Before you know it, you might have to hire help.
Another way you can create a business niche for yourself with little or no start-up cash is to become the middle man. By offering to do the research for your clients, you can help them to find the best price on a new roof, used car or hotel room. You can take their wish list for a dream vacation, a new family pet or even a new home and find the perfect match. People will pay you to navigate the Internet and conduct searches. You will be saving them time and making yourself money.
Now over to you…
Ideas are abundant; the big question is: Do you have what it takes to turn your idea into reality?