Best business to start with low investmentComments Off on Best business to start with low investment
Best business to start with low investment
Starting a print-on-demand business
This also uses the dropshipping business model, so you don’t have to hold stock or ship products yourself. Print-on-demand also gives you the opportunity to brand unbranded products with your own creative designs.
Many print-on-demand companies focus on a specific niche or, even better, a shared identity. What do people have a passion for and what do they like to express? What do you stand for? From people with pets to vegans to gamers, there are more than enough groups you can create products for.
If you have good design skills you can create your own designs. But if that’s not your strong suit you can always hire someone too.
Offer your services online
Services are even easier to sell from home than products, but the challenge here is in making the best use of your time. “Time is money” applies most to people who run service businesses.
Creative professionals such as designers or marketers may freelance for individuals or businesses, usually for several clients at once, and usually from home, with occasional meetings with the client. Other service providers visit their clients by appointment.
Examples of service companies:
SEO consultant (search engine optimization)
As a service provider you rely mainly on networking and word-of-mouth advertising to find the right clients. But once a client is satisfied, you usually stay working for them for a longer period of time.
Therefore, a service company often needs fewer clients than a company that sells products. Depending on the specific service you provide, a small amount of good clients may be enough to sustain yourself.
Chris Carey, one of the co-founders of MAPerformance, started his auto maintenance and auto parts business from home. It started with an online forum where he taught people how to maintain and repair their cars. After it became clear that he was really knowledgeable, forum members naturally went to his web shop to buy parts.
MAPerformance Online teaching example
If you have a skill that you can teach others, it’s a good idea to not only share your knowledge in forums (and thus build a good reputation), but also turn it into an online course. For every skill you have, there are people somewhere who also want to learn it. From English conversation to advanced marketing to handy DIY tips.
If I Made is Emily Newman’s home-based business, where she teaches creative professionals. Teaching online not only means that you can do it at home, but also that you can give lessons live, as well as record them in advance. For example, what you can do is charge people full price for live lessons, and offer pre-recorded lessons at a discount.
Don’t feel like interacting? Then create courses (all kinds of topics) that people can download for a fee. All you need is your content, and that can be anything: a step-by-step video of a skill, templates, articles and how-tos. Use a tool like ScreenFlow to allow recordings of your own screen & voice as you go through the material step by step.
Whatever approach you take, teaching online is a lucrative idea for making money from home because you have almost no overhead costs – all you have to invest is time.