The biggest factor that holds back young entrepreneurship enthusiasts from living their dream is the significant investment required before starting a business. Since there are such high capital costs involved in the initiation process, most individuals end up giving up on their passion and enter the 9-5 life.
The good news is that it doesn’t always have to be this way. While it may not seem possible, you can easily get started on your dream business ideas with little to no money – as long as you have the right mindset and are willing to put in the work and time.
To get you started, here are 9 business ideas that require almost no investment.
- Affiliate Marketing
Being one of the best methods of earning online, affiliate marketing is no stranger to the world of business. It’s an extremely successful business model that leaves little to no room for loss. That’s why around $6.4 billion was spent in affiliate marketing just in the United States in 2019, with numbers predicted to reach $8.2 billion by the next two years.
The great thing about affiliate marketing is that in no investment you can easily set up a business that can earn you thousands when done right. Most affiliate vendors online are free to join and you simply have to recommend someone’s products or services to your followers. You get a certain percentage of commission each time a purchase is made from your referral.
- Professional Blogging
Since the start of the 21st century, people have been making a comfortable living through blogging. This includes putting out content that is entertaining, informative, or educational on a variety of topics; food being our favorite.
Through professional blogging, you can easily monetize your content once you have achieved a significant number of followers. You can also offer different products and services to your audience through affiliate marketing, publish sponsored posts with big corporations, and incorporate pay-per-click advertisements to make more money.
- Freelance Content Creation
The social media take-over has created the perfect place of endless opportunities for creative individuals wanting to work on their business ideas. The 24/7 atmosphere of constantly generating content allows writers, digital marketing experts, and graphic designers to use their crafts and create engaging content for businesses and marketing companies.
You can easily use networks like Fiverr and Upwork to find the best gigs and establish yourself as a freelance content provider.
- Virtual Assistance
If you have excellent organizational skills and want to put them to good use, becoming a virtual personal assistant for entrepreneurs is a great opportunity for you.
This business idea is in high demand as these businessmen, focused on growing their companies, need someone to manage their affairs promptly. The personal assistant would perform all their front-desk and secretarial tasks through a remote location (of your choosing). You can even pick up several virtual assistant gigs at a time, manage their daily affairs properly, and earn good money through this clerical work.
- Event Planning
If you love arranging events and planning parties, perhaps you should consider starting up an event planning agency. For detail-oriented, highly organized social bees, this is the perfect, low investment idea that allows you to earn a living doing something you love!
Depending on your niche, you can offer services to arrange birthdays, weddings, reunions, etc., to take away the stress of preparations from the hosts. The little investment required initially would be used to plan some small-scale promotional events and ads to help your business gain the recognition it needs to fly off.
Pro tip: Make a professional profile on LinkedIn and consider cold calling to create a dependable list of vendors that can help you execute the events smoothly.
- Facebook Advertisement Consultants
When done right, marketing on Facebook can be extremely profitable particularly through ads. However, with the social media platform constantly changing their ads policy, marketers and businessmen have been at a loss of what the right strategy to follow is.
That is where you come in. By developing your Facebook skills and keeping updated with the changes, you can offer your services as a Facebook ads expert or consultant and help businesses grow.
- Errand Services
With most people living extremely busy lives, it often results in no time to run house errands like picking up groceries or collecting dry cleaning. A great business idea is to run an errand services agency to make life easier for people while also gaining success for you.
By managing these time-consuming tasks for your clients, you allow them to focus on other important things and take away some of the stress. Also, you’d be surprised at how much your clients are willing to pay you to take care of these things.
- Online Education
If you were known as a study nerd in school and love teaching others, here is your chance to make a bank. By creating small snippets of educational videos and uploading them on YouTube, you can easily monetize your channel.
Perhaps you can even take it further by creating a website with some minimal investment and directing students to it from your YouTube. Your website can offer them packages of lessons on different subjects or even offer live online lessons for some extra charges.
- Expert Reviewing
With online shopping expected to cross $740 billion in the next few years, professional reviewing has been increasing in value. People mostly base their shopping decisions on good reviews so companies pay expert reviewers to try out their products and services and then give honest reviews.
At the End
If you have wanted to start your own business, it is best to start immediately and get to work. Just take the first, scary steps and you’ll be surprised at how well everything works out. If you would like some more guidance from business experts, let us help!