Big bucks are the next big thing you need when you are in the midst of setting up your own business start-up. Lack of financial support has always been one of the first hurdles entrepreneurs need to overcome when trying to successfully run a business. However, it is certainly not the last thing you should be worrying about the most.
Entrepreneurship has always been an exciting adventure for any business start-up owner and so what if you can’t bootstrap your business with the necessary cash to begin with. Look on the other side of the door where innovation beckons. In fact, you are not alone. It is definitely not the road less traveled, for there are many who wore the same shoes and believe it or not, their ideas rocked! Have you heard about the story of Stewart Vernon of Georgio? Well, he started his business by saving up a few thousand dollars with which he had bought a truck and some chemicals. He opened up a pool cleaning service and grew to become a millionaire at the age of 25, turning his business into a franchise.
Inspired already? Well you too could start running a successful business like Stewart and become a millionaire. Stewart got his back-up from the little savings that he had made. You can resort to do the same but there are other ways too – like borrowing money from friends and family, taking up an extra part time job or maybe obtaining a short term loan like the title loan and other line of credit facilities to get started with. However, it is also important to choose the right type of business too.
Take a look at some of these business ideas that you can immediately start with just $5000 or lesser than that in hand –
#1. Consulting
Consulting is one of the easiest businesses you can begin cheaply. You have got to have some expertise in that though, for you are going to sell your advice that others are looking for in the market. It can be anything from human resources, technology or even social media, and you can launch your consulting agency straight from home. Consulting is soon going to become a booming business as suggested by Plunkett Research, which estimates an expected investment of $ 360 billion on consulting services by other companies.
Your total overhead cost expenditure will include marketing, business cards and other required certification. Besides, most people fail to realize that your utility bills tend to jump when you work from home; since it includes expenditures like driving from home to client meets, offices and other events.
#2. Selling An Idea
If you are one of those who are confident that their ideas would click, then this can be a business to invest on like no other. Speaking of investments, it does not cost much. When the Coffee Joulies partners began their business, they had only $4000 in their pocket which they spent on a local mold making machine shop. Then they used the mold to bring out their own Coffee Joulies prototypes by hand. Today their business has expanded to begin their own mass production. Do you have an idea that you know is as good to sell but lacks the financial support?
#3. E-commerce Site For Handicrafts
Selling of hand made goods is simple and inexpensive and you can begin your own shopping site online. You can start your promotion on the social sites like Facebook and Twitter where you can open an account for free and upload pictures of your hand made products like bags, stationary, clothings, etc. You may even want to open up a simple online site where you can put up your products on display and sync it with your social promotions. It’s smart, easy and you can easily establish a successful business brand in no time.
#4. Freelancing
You can do some freelancing work and the best part of it is that you get to perform from home. It can be on anything like web design, copy writing, virtual assisting, online tutorial, etc. You have got your computer and your phone, an internet connection, software and other things that you are ready to go with in your work.
#5. Party Planner
You have got to have a lot of flair rather than capital here. The budget might vary but you can earn between 5% – 10% of the total budget easily. Despite all these, remember it is a tough job, for you have got to put up with a lot of head counts, manage everything from invitations, to florists and caterers. Don’t forget working late nights and on weekends too.
#6. Pet Walking
Dog Lovers, here is one hell of a lucrative full time business for you. Some of the dog lovers need to own a business license though, given that you are going to take out multiple dogs for a walk. Apart from this, the other recurring expenditures that you might have to incur are spending on flyers, cards, handbills and keeping in touch with local pet stores to receive messages from there. This requires a lot of energy, given that you would need to be an expert in dealing with dogs, playing with them, feeding and even learning how to baby sit them. Now that is a hell of work out there!
There seems to be absolutely no dearth in the number of business ideas that you can make use of. But sometimes, financial support is what you need to get your ideas on track and turn your business into a reality. Every dark cloud has a silver lining and in this case, let not financial limits put a stop to all your big dreams, for there are other people out there to help you find them.
Images: “Creative idea concept – miniature photographer with vintage light bulb on open paper notebook/Shutterstock.com“
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