Are you ready to launch a business but don’t have much cash? Starting a business from scratch generally isn’t cheap. However, that doesn’t mean you can’t get started with little money. You might be surprised at the range of affordable business ideas. You just need to know where to look for them.
1) Run an Online Store
If you want to start an eCommerce business, your startup costs can range from zero to tens of thousands of dollars. If you don’t have a lot of cash available, you can still find ways to get started. For example, you can set up shop on one of the many marketplaces that host and sell products on your behalf. You can also open an online store on Shopify and use their free trial period to decide if this is something you want to pursue. If you want to do everything yourself and don’t want to pay for hosting, you can create and run an online store using Shopify for about $100 per year. You’ll need to do some research to find out which products in your niche sell well online and what your profit margins should be. While an online store isn’t something you can launch in a couple of hours, it is a viable business idea with low startup costs.
2) Become a Virtual Assistant
There are quite a few ways to make extra money by helping people out with things like scheduling appointments, answering emails, and updating social media accounts. Services like TaskRabbit let you bid on these jobs, and you can start offering your services as soon as you sign up. One of the oldest and most established side hustle ideas is to become a virtual assistant or VA. You can find VA jobs on sites like Upwork, where you bid on jobs that people post. You can also get started by reaching out to people who are in your network and see if they need help with any administrative tasks. There are a few things to keep in mind when becoming a VA. First, the pay rates on these sites are usually pretty low, and you may have trouble getting some of the higher-paying jobs. You may be able to offset this by offering your services to people in your network for less.
3) Offer Web Design Services
If you have any design skills, you can start offering freelance services to clients. You can find clients on sites like Fiverr and PeoplePerHour, or you can use a site like Worky that connects you with clients based on your skills. When you’re starting out, you may want to sign up for a few different services and offer a discounted price or a specific promo code in order to get your name out there. Once you have some regular clients, you can set your rates, and you shouldn’t have too much trouble finding more customers. Designing websites is a pretty accessible skill that almost anyone can learn. If you have basic web design knowledge, you can start a website and offer your services to clients on sites like Fivver. As soon as you have a few clients, you can set your rates and start booking more work.
4) Start a Blog
Blogs are one of the best ways to build authority and drive traffic to your website. While you can start a blog for free, you have to be careful about the costs of running a blog. For example, if you’re using a free blogging platform, like WordPress.com, you’ll have to pay to host your site and buy a domain name. You can also start a blog on a free site like Medium. However, these platforms don’t give you full control of your content, and they may show advertisements on your site. Blogging may cost you a few hundred dollars per year, but it’s one of the best long-term investments you can make. You don’t have to charge people to read your blog, and you can create a source of traffic and leads for your business.
5) Write and Publish an E-Book
If you have valuable knowledge to share, you can start a side business by writing and publishing an e-book. E-books are relatively easy to create, and you can self-publish them online through platforms like Amazon Kindle, Barnes and Noble, and Smashwords. Blogs and e-books are great ways to build an audience and establish yourself as an authority in your niche. This may lead to more business opportunities, such as being invited to speak at conferences or being asked to write for magazines. E-books are also a great way to test the waters and get your name out there, and they don’t require any upfront investment. You can start with a free word processor like Microsoft Word or Google Docs and create an e-book in your spare time.
6) Provide Marketing Services
Marketing is a broad term. It can include everything from branding and copywriting to social media management and SEO. If you have skills and experience in any of these fields, you can offer your services to businesses and individuals who need help growing their online presence. You can also help other businesses by reviewing their current marketing campaigns and providing recommendations on how to improve them. This is an excellent way to practice your skills and build your portfolio. If you have a few recommendations for how to improve a business’s marketing, you can send a proposal and offer your services in exchange for a fee. This is an easy way to start earning money by helping others with their marketing campaigns.
7) Start a Paid Newsletter
Blogs are a great way to build your audience and drive traffic to your website. However, it takes a long time to create blog posts, and they only come around once per week or so. If you want to stay in front of your audience and keep them coming back, a paid newsletter is a great idea. You can create a mailing list and start sending out monthly newsletters full of helpful tips, strategies, and advice. You can also use your newsletters to connect with readers and promote your other online ventures. You can use WordPress, Mailchimp, or a similar service to create and manage your mailing list for free. You can also pay to host your mailing list on a paid service like Aweber. This means that you have full control over your list, and you can decide what happens with it.
8) Organize an Event or Conference
If you have a skill that people are interested in or are passionate about, you can create an event around it. You can start a conference or invite guest speakers to come and talk to students at a university near you. One of the most accessible and affordable ways to start a business is to organize an event or conference. You can create an event around any topic or skill set. You can also invite guest speakers to come and talk at your event. For example, if you’re a marketing manager, you can organize a marketing conference and invite marketing experts to speak at your event. You can also invite people to attend your event and charge a fee for attending. This can be a great way to make money and network with other professionals in your industry.
As you can see, there are many ways to start a business without investing a lot of money. You just have to be willing to put in the time and effort to make it happen. The good news is that it doesn’t take a lot of money to start a business. You can start with just a few hundred dollars. While there are plenty of cheap business ideas, you can’t expect them to make you a fortune. It is important to remember that these businesses are cheap for a reason. They’re not likely to make you a lot of money unless you put in a lot of work. To make these businesses successful, you will have to put in a lot of time and effort. If you’re willing to put in the work, you can start a business with little money and make a decent living.