When most of us think of starting a business, we automatically assume that it’s a daunting process that requires millions of pounds, access to investors and venture capitalists. In reality, the majority of businesses are bootstrapped and started with minimal amounts of money.
Furthermore, in these tough economic times it simply isn’t smart or advisable to start a business with heaps of money. In fact, many successful companies were started with under $1000. Take for instance, computer giant Dell was started with under $1000 and now boasts assets of over $61 billion. Similarly, international coffee giant Starbucks was started by three academics who had saved $1350. Considering the fact that these corporate giants were created before the era of the internet, it is now even easier and cheaper to start and run a successful business without having to leave home! Here’s our list of top ten businesses that can be started with almost no money.
Social Media Manager
Love tweeting? Do you find yourself spending hours on social mediums like Twitter and Facebook? If so, you could become a social media manager. Social media managers are usually self-employed consultants or entrepreneurs who manage the social media accounts of small to medium sized businesses. With millions of small businesses looking for cost-effective ways to promote themselves, you could make a very lucrative career by running their social media accounts. The cost of running a SMM is minimal- all you’ll need is a computer or laptop, internet connection and the confidence to reach out to small businesses and market your services to them.
The private tutoring industry is one of the fastest growing industries in the world. Recent statistics reveal that it is worth an estimated $5 billion dollars! Starting a tutoring business is relatively easy and extremely cost-effective. In fact, I started my tutoring business with no money and within a few months managed to land international clients! The key to success in this field is the ability to be professional, be able to make complex subjects seem simple and to be organised. Tutors are able to market their services cost-effectively through word of mouth and by advertising online.
This is another industry that is seeing rapid growth because of the internet. Marketing consultants help small, medium and large-sized businesses to evaluate their current marketing efforts and make them more efficient. In doing so, they help businesses to potentially save millions of pounds.
Bookkeepers help organisations, businesses and individuals to keep, organise and monitor their financial records. Formal qualifications aren’t always necessary but formal training can be obtained online and through a variety of courses.
Gone are the days where 80% if writers are struggling to feed themselves and earn a living. Nowadays writing can be an incredibly lucrative business because it’s incredibly varied and requires very low overheads. Many writers are shunning traditional publishing deals (which can take years to obtain) and are instead opting to self-publish their works. If you’re a budding writer there are various avenues you can consider. For instance, Amazon allows writers to publish directly through their Kindle platform. There are also platforms like Fiverr and Lulu that enable writers to earn money by publishing content online.
If you have a passion for fashion and love to play dress up, what not consider getting paid to do it? As a personal stylist you’d be responsible for helping people to match their personalities to their fashion choices. Some stylists combine their services with therapy and help people to overcome self-esteem issues.
Students from across the world struggle with completing their academic assignments. As a result academic writing is an incredibly lucrative profession. If you love learning and can churn out A grade essays then this could be the business for you! Starting an academic writing business doesn’t need to be expensive as there are several sites that allow academic writers to get started online.
Do you have a voice like Mariah or play the violin like Vanessa Mae? If so, you could start a business as a music tutor. Music tutors are in big demand these days. Some tutor in person and charge optimum fees, some teach group lessons and others teach online. Successful music tutors tend to become booked up very quickly because of parent referrals so if you have qualifications or experience in the music field, this could be a great business for you to start.
Okay it might not sound glamorous but cleaning is one of the world’s oldest professions and is worth approximately $6.5 billion dollars. In addition, starting a cleaning business doesn’t have to involve doing any cleaning. For instance, you could hire people to be cleaners and work for your cleaning firm. All you have to do is manage the marketing of the cleaning service, attract clients and maintain relationships with your employees.
If you love writing, taking pictures or posting videos then perhaps you might want to consider blogging! One of the reasons why it is such a great start-up idea is because it requires very little start-up money (most blogs can be created for free using WordPress or blogger.com) and can be started from your bedroom. Blogging is really about creating great, unique content and then marketing that content to a niche market. Bloggers who are able to do this can potentially build large and lucrative communities. For instance, successful bloggers make money through speaking gigs, advertising and affiliate marketing.
Have you started any of the top ten business ideas mentioned above? If so, leave a comment below sharing your experience and your advice.