There has always been a stereotype that, to do a business or a start-up, we need to spend tons and tons of money. Is this true? The simple answer is no. Not every business requires so much amount of initial capital. It is even possible to turn your hobby into a business if you research well on ‘how to do it at a low cost. The
There has always been a stereotype that, to do a business or a start-up, we need to spend tons and tons of money. Is this true? The simple answer is no. Not every business requires so much amount of initial capital. It is even possible to turn your hobby into a business if you research well on ‘how to do it at a low cost. There are so many business idea opportunities to start at a low budget. Nowadays, we have the internet and technology. An online or e-commerce business can take fewer days to begin (may vary from the country). So, it is possible to start a business simply within the budget.
Here are few business and start-up ideas to start at a low cost.
- Affiliate Marketing: A trendy business idea to earn money at low or no cost. Nowadays, many websites support us to do affiliate marketing. It is easy to begin. However, it needs patience, dedication, and hard work to become successful. Affiliate marketing requires you to promote other brand’s products from your website or blog. So, to do this, we will have to attract a lot of visitors to our website. One such example of affiliate marketing is Amazon Associates.
- Drop Servicing: Another business idea to start is drop servicing. If you want to work by yourself, then this will be the most suitable business idea. For example, If you are good at editing videos, you can email people who work in a video-related company (YouTubers, Studios, etc.) and work for them. For this, you can place your profile at Fiverr.com. Charge them 30$ per video. To do this work, websites like fiverr.com and upwork.com will be helpful.
- Meal planner and Food distributor: Who will say no to healthy, nutritious, and homely cooked meals than eating something unhealthy from hotels. Most people will prefer eating healthy meals but, some may not find time to cook for themselves. If you are good at cooking, then this can be a suitable business plan for you! Along with cooking your food, you can cook extra for your customers and distribute it weekly to them as per their needs and charge them a reasonable price.
- Article/Blogs applications: Another yet effective low-cost start-up idea is to start an app. It will be helpful for many college students. This generation lacks patience, so creating an application that will have articles (reading time 1 minute) will be perfect. This can be customized as per the topic that they are interested in. Adding a Premium subscription to make a profit can be very favorable.
- Dropshipping (Shopify): It is the latest yet a trendy business idea. This idea involves having a virtual store at Shopify where you don’t need to deal with products physically. Instead, you will have to deal with a third-party supplier (Alibaba) who is responsible for the delivery of the product directly to the customer. It involves creating a Shopify store and linking it with Alibaba with a reliable supplier (often challenging).
- Online trainer/coach: Another cost-effective business idea is to be an online coach/trainer for meditation/yoga/dance/music. It involves setting up a website, putting in some subscription plans (charging a reasonable amount), and having regular online classes to teach the subscribers. Addition costs may come from marketing the business idea.
- Google Ad Specialist: If you are interested in marketing and other related fields, then this Google ad specialist job is just right for you. So, how do you become a Google Ad specialist? Google offers a lot of courses to study (Skillshop). One of their course is Google AdWords. Enroll in it, and it may take around two or more weeks to complete. After receiving the certificate for completion, you can begin the work as a google ad specialist and create your profile on Fiverr.com (online workplace for freelance service). Charge people 20$ to 30$ per hour at first. Later, you can increase the amount as you start growing.
So, these are some of the top business ideas that came to my mind. These ideas are very cost-effective and seem effortless too. Even though it looks easy to start, it doesn’t mean that it can go successful overnight. Every business requires hard work, dedication, and patience. Advertising and promoting the work through social media may add up the cost. But, it is a very crucial step for anyone to make it profitable. Always learn from your mistake. Never get demotivated at the initial stage, where we earn very little. Consistency also plays a key role. Once we start to do it the right way, then definitely success will come its way.