Many people dream of being their own boss. With all the high-powered shows you can catch on Charter Spectrum like Billions, Silicon Valley, and StartUp, our desire to leave our unique mark on the world of commerce only grows in intensity. Real-life industry icons like Bill Gates, Elon Musk, and Jeff Bezos give many of us all the reassurance we need that our business idea will change the world, as long as it is a good idea. Dreaming of success and fame isn’t an unnatural feeling, but do you really have everything you need to start your own business?
Low-Budget Business Ideas to Try Out
Sadly, for many would-be entrepreneurs, there is one very common and frequent limitation: capital. Starting a business requires cash, assets, and investment. Running a business may not always be cheap either. And cost mismanagement has very often eaten into profits to a point where the business model no longer remains sustainable.
You have to spend money to make money. But you need to have money to spend. Even if you may not immediately start on your original idea, a low-budget business could help you get the hang of being running and managing it. After that, you can scale up to your original idea, or stick with the low-budget business and help it grow.
There are many approaches to starting a business. Even if you don’t have capital of your own, you could share ownership with a business partner. You could also acquire investment if you can convince a venture capitalist or investor to buy into your business idea and model.
In some cases, you may even be able to acquire the financing you need through a bank loan or a credit agency. This blog, however, will only stick to discussing business that you can start establishing needing only little-to-none capital and your particular skills. A few good ideas to consider may include:
Creative Services Consultant
Creative professionals have several distinct advantages over other types of business executives. For one thing, it is very hard to assign a monetary value to creative talent. It is also quite easy to tell great creatives from mediocre ones based on their work.
If you’ve got some serious creative skills like content creation, video production, photography, professional editing, or even music mixing, you can monetize them quite well. Work on building a portfolio of your best clients and work. Use it to pitch yourself as a creative consultant, and work with businesses that require your services. You’ll still be doing creative work, but you’ll be your own boss.
Efficient businesses need to be organized. Especially at key management positions, disorganized schedules can lead to conflicts, inefficiency, and even loss of revenue. This is why many senior management figures prefer to hire assistants specifically to help organize their busy schedules. Of course, remote working makes this harder, since older professionals aren’t very comfortable with modern digital workplace tools.
At best, they only know how to work those parts of a system that is most relevant to them. Offering your services as a virtual assistant to one or more professionals can often turn out to be a great gig that requires minimal input on your part. Unless you need to develop your organizational skills, this can also serve as a side gig to generate seed money.
Professional Product Reviewer
Businesses can only improve if they listen to feedback. However, consumers can often give a casual response to a feedback request. Or they may have a strong reaction based on an isolated customer service incident. While customer reviews certainly matter, they may not always be honest about the product. Instead, they are usually more focused on customer experience and how the brand appears to be.
As a professional product reviewer, you could offer a lot of value to businesses that generate consumer products or services. They’ll be willing to pay for your time and expert opinion after using or testing the product/service. So, you can try out the latest gadgets and tech, identify problems and value features, and get paid for it too.
Online Tutoring and Remote Courses
With the COVID-19 pandemic, very few people are up for in-person education right now. Remote learning has proven to be the only alternative to physical classrooms for now. But it may offer an opportunity for you to take. Based on your interests, academic background, and experience, you may be able to offer your services as an online tutor or a remote instructor.
While it may be difficult to get a college teaching position unless you’re an accomplished and published Ph.D., schools may still need your services. And you can also try creating your exclusive learning platform if you are passionate about teaching and know your stuff.