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Written by: Ethan Rome
Starting a business might be fun and hell at the same time; the joy of owning your own business, becoming independent, and solving people’s problems to make a living for yourself is the fun part.
The cost of starting a business, the sleepless nights that accompanies it, days of rejection from investors are the hellish days.
A business expert once said if a new business requires $100, then know within yourself that you need x4 of that capital to run the business successfully. That means you need $400 to start the business considering miscellaneous expenses.
As opposed to popular belief, there are many businesses you can start with little capital and trust us to do thorough research for you and select the best.
How To Start A Business
The top guns you see today started as a small entity. We all know the history of Amazon, Microsoft, etc. Most started in a garage and went to become a multi-billion business.
It all started with passion and dreams, but it is never enough to have just passion or dream, but the desire to go after the dream and passion.
After that, make findings or consult the professionals in that field to give heads up about the possible challenges you will likely face in the business and how to overcome them.
This will give you a heads up; when other newbies are stuck with a problem, you already know how to handle such a problem. Hence, your business attracts more customers, and you make more sales.
Business registration is where most start-up owners get it wrong. Irrespective of the size of your business, register it.
Places like Hong Kong remain the best to nurture your business plans and kick start them. The ease of starting a business in Hong Kong is second to none.
You can register your business easily with the online company formation services. Registering your business will make it eligible for start-up grants and other benefits.
Consistency is key. The zeal and passion you started with should be maintained even when you become a global brand. Instill the same discipline in your employees so that all customers can leave your organization with happy faces.
7 Cheap Businesses To Start
1. Affiliate Marketing
A perfect business for stay home moms, students and even full-time workers that need a something aside the regular 8 – 4 jobs. You need little or no money to start this business, and you can earn millions depending on your consistency.
There are several websites that need sales and require the help of affiliate marketers to make their services known to a larger audience. All you need is to direct customers to the site using your referral link, and once the customer makes a purchase, you receive commissions from the sale.
2. Ebook Writing
The world we are in today has evolved so much that you can study a school curriculum without attending any school. How is that possible? YouTube, Ebooks, and academic websites like udemy have made things easy.
Ebook business requires very little or no capital; all you need is to be creative and have the ability to put whatever you’ve learned into writing. You can start by selling to your friends who need your service and move on to advertise on social media to reach a large audience.
3. Freelancing Agency
The gold mine of this generation. The pleasure of working at home, working anytime you wish, cannot be overemphasized.
Freelancing business requires no capital or maybe little capital if the site you meet your clients requires you to pay a token before registering.
As a freelancer, you can choose to be a web developer, a writer, a designer, or even a virtual assistant. You negotiate with your client on the price and set up a contract.
Your earning depends on how much time you work or how many clients you choose to work for.
4. In-home Services
In-home services are gradually becoming rampant in countries like America, Canada where you can offer to babysit a couple’s baby their pets, or watch over grannies while they attend to other essential things, and you get paid after your services.
Register your business to make it legitimate because no one would leave their loved ones with a random stranger.
5. Repair Services
Homes, cars, gadgets will all need repairs at some point in time, and your expertise will be required. This type of business requires capital since you will pay to acquire the skills and also buy the tools for your work.
6. Consulting Agency
The idea of starting a business is never complete until you seek the help of a professional in that field (consultant) to learn the basics.
Now, whichever industry you are in, depending on how well you’ve learned, you can start a consultancy business; newbies will require your help and hence you can charge them for your services.
7. Dropshipping
One of the easiest business to start but requires capital. Dropshipping entails buying goods in bulk to limit the charges you pay on each one and reselling them to those that need them.
Think of this as a retailer that acquires goods from wholesale to sell to consumers.
Conclusion
Starting a business isn’t easy peasy, but with passion and proper findings, you will be on your way to building a conglomerate in no time.
Related: The Power Of Video Marketing For Boosting Google Ranking