However, many of us have somehow acquired the paradigm that to establish a profitable company you need to make good capital first.
And although having it is undoubtedly an important advantage that will help you take off faster, it is also true that many of the great entrepreneurs of our time started their businesses with little money.
In fact, the greatest capital a person can have are their ideas, her initiative, her willpower and herself.
The good news is that there are indeed several kinds of businesses that allow you to start generating additional income starting with a moderate initial investment.
You will probably have to dedicate more time and effort on your part at the beginning so that it begins to grow and take shape, but this ends up being a very convenient entrepreneurship proposal for many.
Also remember that one of the keys to success is in the intelligent reinvestment of resources, so do not expect your business to buy you a new car the first month or a house during the first year.
Patience is a very precious treasure, if you have it, you already have a great intangible capital.
So here is our delivery of the 15 business ideas to start with little money:
Business with little money
1. Article writer
2. Buying and reselling second-hand items
3. Upload videos to Youtube
4. Gumball vending machines
5. Mysterious customer service
6. Provides specialized tutoring
7. Home baby care
8. Computer repair
9. Sale of products by catalog
10. Cleaning services
11. House painting
12. Pet care
13. Wedding planner
14. Catering services
15. Teach virtual English classes
What will you need to start a business with little money?
Step 1: Learn about the business
The first thing is to know more about the existing options that you can consider for set up your business.
This blog and especially this list are a good initial source but there is much more information and resources on the web that will be useful for you to deepen and learn about that specific business idea that attracts you.
Spend a few hours reading to make the most appropriate decision that goes according to your knowledge, skills and time availability.
Step 2: Plan
Every business, even if it is small in the beginning, must be planned.
This represents defining exactly and in detail which services or products you have the possibility to offer according to your investment capacity.
You must determine how much time you can dedicate to your business and do it in a disciplined way. You must also answer essential questions such as: Who will help you? How will you sell? What resources will you need? Etc.
You must answer all the questions as honestly as possible so as not to fail on the first try. In this link I show you how to make your own business plan step by step.
Step 3: Budget
You must develop a basic budget that guides you in the use of money.
This is probably one of the most common mistakes made by entrepreneurs large and small. They think they can carry the controls in their mind (which is the same as saying “blindly”).
And that is the reason why most of the time they also end up consuming their capital and even acquiring debts that kill the business and destroy the motivation to undertake.
Step 4: Take action
The last step is the most important of all. To take action.
All of the above is useless if you finally do not go out to find clients and Close business.
If you already have a product or a service, then take care of making prospects and then converting them into customers. If you don’t know how to do it, it’s time to learn how to sell.
Make the calls that need to be made. Send emails, request references, visit potential clients and do everything that helps you generate movement, but do not stay at home with your arms crossed!
Final advice
Entrepreneurship is like a great survival adventure. At first you don’t know what you’ll find. Some things will positively surprise you and others will leave you great lessons. [twitéalo]
“The big challenge is to persist and not give up while you keep learning.” [twitéalo]
