Chapter 10: Starting a Business under $1000, and or even $100
Many would be entrepreneurs fret over legal, administrative and financial issues that kill their dreams before they even get off the ground such as getting a business name, a federal tax number and startup capital. Some of these can be easily dealt with or even changed at a later time. Some of the business I’ve created aren’t under my business name. However, the biggest hurdle that most entrepreneurs are afraid of in their quest to financial independence is the capital they need to start a business. But with new niches and business opportunities, entrepreneurs are starting a business under $1000 and or even $100 and creating impressive business empires from such humble beginnings.
Most people think that only online businesses can have such low overheads. It is however possible to start a face-to-face business under $1000 or even $100. One of the most commonly suggested is dog-walking. This is a relatively easy business to start and maintain. All you need is a passion for dogs and some gloves, a scoop and plastic bags to clean up after your furry employers. Some regions will require you to have a license if you plan to take care of several dogs at once which can cost you between $200 and $500. You need to check with your local council first to find out if this applies to you. There’s even an app called Wag and i’m sure there’s more where you can start providing your services.
Yes, Uber. While there are some people who make a living out of doing Uber, making some extra cash on the side is also a mindset you can tell yourself. Making $100 to $1000 a month or even more can help you save money to start your ideal business. Whether you are in a big city or a small one, you can dedicated a few hours after work to add additional income.
A landscaping business will cost you less than $1000 to set up. Start with some landscaping equipment that you can even get second-hand and then advertise your business either through word of mouth or print up a few flyers and put them up around the neighborhood. For a lawn mowing business, you need 900 dollars to acquire a lawn mower, trimmer and blower. The rest you can put into advertising.
A catering business is also reasonably inexpensive to start with the only prerequisite being; an ability to cook and make delicious treats and to work with mostly temperamental clients. You can start a catering business from your own kitchen with equipment that you already own. You can also start a cleaning business from the comfort of your home with some cheap or even homemade cleaning supplies. You will just need about $100 to register the business then drum up business by telling everyone you know about it. This is a relatively easy business to get clients for in the neighborhood and through family and friends.
If you are a big fan of makeup you can choose to become a salesperson for Avon or another cosmetics company or pick a different route and become a makeup artist. As a makeup artist you will need to have the skills to transform people into beauties and of course have some makeup with you. I am not referring to MLM, network marketing, when I mentioned Avon, some of my friends are makeup artists who works for Theme Parks, Macy’s, Nordstrom, and freelance on the side. There are events you can cater to such as weddings, bachelorette parties, birthdays, etc. You can provide makeup service along with a package specific for your client to use everyday when they don’t call for your service. For $1000 you can get a comprehensive make up set. As an independent salesperson you need to have people skills and a passion for makeup and of course know what you are talking about to be able to make a sale.
Online Businesses under $1000 or $100
Starting a business under $1000 and or $100 will more often than not lead you into the virtual world. One of the best ideas is to turn your skills or knowledge into a business by becoming a consultant. All businesses could use a consultant to help them increase their growth, create strategic plans and make deals.
Be a Consultant. You don’t have to know everything, just more than your clients. You can charge per hour or on a retainer. If you were a manager for customer support, companies would pay for your consultation of how to handle x amount of loads or bring your metrics knowledge so they can track their customer support performances. Or if you are a busy man who understand how important healthy foods are, how did you start your regiment and have time to cook your meals? Being a consultant really comes down to helping people and bringing value. If they don’t have time to do it themselves, they can hire you for the job.
With the importance of social media in business increasing each day, you can turn your love for social media into a business by becoming a social media manager. Help a business increase their online presence and manage their accounts and you are well on our way to earning impressive figures. This also offers lots of flexibility and allows you to work with the people or businesses that you like.
Freelance writing has been around for a number of years now and it is still a good idea. Websites, blogs and companies still need good content and you can use your writing skills to earn decent figures. You just need a computer and an internet connection and you are open for business. Growth hackers, marketers, full stack marketers, ppc experts, creative content specialist, all are given the task of managing different aspects of the company to increase conversion rate. People who know how to increase the percentage of visitors to your website, or how to write engaging content that audience will want to come back for more, a company who is looking for one person to do all marketing needs to understand all aspect, or dedicated ppc specialist who can help budget and save their cost by focusing on specific keywords.
Online businesses generally rely on your skills and an amazing way to make them work for you is to tutor. You can teach on pretty much anything from language, to cooking to sports and everything in between. Video blogging would be the best avenue for this and all you would basically need is a computer, an internet connection and the tools you would be using to teach which I am pretty sure you can find around your house especially if it is something you are passionate about.
Some of my friends are teaching english to students outside their country via skype. Most if not all need to get their kinks out since they are mostly associated with other people that has English as their second language, if you are fluent, native English speaker, you can start promoting your services outside your own country like in South America and help them become fluent.
Another niche that would go amazingly well with this is translating or even transcribing. If you are bilingual you can out your knowledge to good use translating content for clients online. You can approach companies to translate for them or pick projects online. Transcribing is also pretty simple and easy as there is plenty of audio and visual content online to transcribe.
Joining an affiliate program is also a great idea. You just need to register with an online shopping company such as Amazon and then start marketing products or services and each time a purchase is made through your affiliate, you get paid. You can also choose to become a reviewer for products or even books which is an entire niche by itself and get paid to write reviews.
A business idea that has really resonated with people is making crafts and then selling them online. If you have an untapped talent for arts and craft you can make it a booming business on Amazon or eBay. You can even find someone who already has a business up and running and partner up or make items for their site and get paid on commission.
A few more tips for you as you start your own business, find a gap in the market that reveals an opportunity and find a way to fill it. Being a solution provider is the best way to succeed in business. This could include simplifying something that’s already there, offering some diversity or fixing something that personally annoys as there is a huge chance you are not the only one frustrated with it. You should also keep up with trends as something controversial or trending can offer the perfect business opportunity.