Most people think that they must have a lot of money to start a business. Not everyone has big savings to invest in their new businesses. Some may have limited budget to start a business, therefore, most of them will just ‘postpone’ their plans.
Lately, I have been getting questions from people around me on how to start a business with very little money. All you need are the Right skills, the Right work ethic, the Right Attitude and the Right Marketing strategies.
To keep this article simple, let me share 3 simple tips for those who want to start a business with minimum capital:-
Make a product to sell
There are people who are very good at sewing. They can make soft toys and cute blankets of different designs and sell. You probably need to promote your ‘cute’ products online and when your business grow bigger; you may expand with the profits that you’ve made so far.
Can you make sandwiches or fruits juice? Can you bake a cake? Oh my… you can start selling tomorrow, this is easy!
Trade (re-sell some products or services)
Find something to sell. Some people are mixing essential oils to sell; they just learn the blending tricks online. Some buy clothes from China websites at very cheap prices and they can make 200% in profit. Some people buy unique items when they travel and sell them online. There is no limitation, how fun is this!
You can also sell other people’s products; as some business owners have huge businesses and they need people to help them to promote/sell their products.
Alternatively, you may check out unique items at bazaars; negotiate with the seller for commission and from there, you can promote/sell for them online.
One of my clients buy jewelry and bags from bazaars and sell them on Facebook. Good profit and she gets very consistent repeat orders.
Sell your Service
This is one of the best thing you can do to earn unlimited income. Ask yourself, what are you good at? Can you write articles? Can you babysit? Can you read Tarot cards? Do you know how to make up for others? All these make money!
If you are selling your service, you just have to brand your company and have websites to promote your services. All you have to do is to ensure that your people are providing good services to your customers.
One of my clients, her company designs logos and business cards (with Feng Shui elements). They get a lot of referrals because what they do is ‘unique’.
There are more ways to start businesses with minimum capital, you just have to think of ways to kick-start a business; even part-time. Just pick one of the above and start to make some money, Happy selling!