The other day I received a question from one of my
readers asking if he was struggling to find full time work, and had a
really cool idea, how would he be able to get up and running with
limited savings?
This prompted me to think about all the businesses
out there and how they started financially. Many of them started with
limited funds.
I don’t come from the traditional line of thinking
that a business needs millions to start. If I had a great idea, id do
it in a way that involved little start up capital.
But even if you disagreed with me, if you wanted
to go the traditional route to save up capital for a business, problems
could occur, especially when it comes to marketplace timing and getting
estimates correct. It can be very difficult (especially as a young
person with limited business experience) to budget accordingly for a
business that they wish to setup in 12-18 months time.
If I was to tell myself to save $10,000 to start a
cleaning business , that’s all well and good, but where is the ceiling
for this savings plan? When I got there, id be saying to myself ‘What
about if I saved another $10,000 just for insurance if anything went
wrong, since after all, it is my first business’. In this situation, id
never get to the end goal, id just keep saving because I would be
worried that it isn’t enough start up capital.
Another 12 months passes and more competitors
start popping up with your exact idea. How would you overcome this? You
can’t just put time in reverse!
But the above example is only if you had a job to
start with to actually save some start up cash.
What if you had no job, or retrenched from your
previous position? Can you still get your business idea started?
Of course you can. You can do it with fifty bucks.
Today im going to show you ten start up businesses
that cost $50 or less.
1. Buy old pieces of furniture from
garage sales and do them up. Then sell them on ebay. Then do this
again.
2. Be a freelance travel writer
3. Be a consultant helping old people use technology
4. Print 2 tshirts and sell them at a market (see Justin Herald example
above)
5. Start a jogging/fitness group and charge $5 a head
6. Start a wedding planning business
7. Make cushions and sell them at markets
8. Be a negotiating broker, getting the best deals for clients who
purchase cars, home appliances or home broadband
9. Write a book and sell it on the Internet
10. Create an I Phone application
The above methods will enable you to start
businesses with very little start capital. For promotion, there are
many places online you can get free web hosting and cheap domain names
if you need a website and you can make your own business cards.
You may not even need a website, many people use
word of mouth using facebook or myspace networks.
Next week’s article will go into these free
promotional activities more in depth. The key is to do it, and not to
use money as an excuse to start your business.
Article Source: http://
www.articlesbase.com/coaching-articles/ten-start-up-business-
ideas-for-50-bucks-1106442.html
About the Author
My Name is Chris Carlaw and most important focus
is youth unemployment. I have recently developed a website to alleviate
youth unemployment called ‘Youth into Action’.
(www.youthintoaction.com.au)
Youth into action is a site where young people can get more than just
tips on how to get a job. It’s about discovery, finding their dream and
finding out who they really are. The way it is different is that I can
closely relate to their feelings of helplessness, disorientation and
rejection after applying for numerous jobs. I want to fill the gap
between careers advisors and the first step into the workplace for
young people. The education system only prepares you for upcoming exams
and doing well whilst at school, however does not teach students
adequate skills necessary to be competitive when going for a job.
I believe I can make a difference and create future leaders in our
society.
Regards,
Chris Carlaw
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