Everyone wants to own their own business. Right? You, your friends, your neighbor… every single person wants to have one startup of their own. And why not! It’s one of the best things you can do for yourself. It will keep you busy, you will meet new people, you will come to know more areas of development and so much more. Not to forget money!
But to start any business you need to invest money and how much has to be invested depends on the type of business you have zeroed down to. For example, a small business of T-Shirt printing requires plain t-shirts, the printer, packaging material, inks and so on. A larger business like a Food Joint needs manual labor, raw food materials, cooking gas, microwave oven and other things. All this needs money and place to set up. But what to do if you have no money or a very low budget? Let’s talk about it.
Anyone low on a budget can try any or all of the following 5 steps in order to set up his own Business.
Create Your Own Stuff – This one is my favorite. If you are good in many things like Dolls, Dresses, Wall Hangings, Mats, Paintings or any other Handmade items then why don’t you start selling them online? You will find various websites like eBay, Etsy, Shopo or even OLX where you can sell easily. You can create your own online shop on these sites or have various listings which are easy to post. The advantage of making and selling your own stuff is that it requires lesser initial investment and you can price the items according to what your heart desires. Some people make an item for about 10$ and sell it at as much as 10 times more amount. Yes… really that happens. I myself have seen a lady who created an art piece with an investment of 100$ and sold it for 900$. But that doesn’t mean that you too have to do so. Keep the pricing right so that people come more easily and they become return customers. You can also set up your own website too. The best service you will get it is from Shopify. Just have a look and see if it is good enough for you. I’m sure it will be.
Become A Reseller or Drop Ship – If you think that you can’t create stuff or don’t have the zing for it then you should consider becoming a reseller. You can buy things directly from the factory or companies on wholesale rates and then sell it in your community or through online as well as offline shops. And if you don’t want to invest money then you may consider Drop Shipping, For this, you will need a website where you can list various products which you want to sell. Partner with various merchants and dealers or resellers and sell their items online. When an item is sold all you have to do is tell them (or automatically through emails etc) and they will do everything from packing the item and sending it through courier. You will get a commission from them for selling that item. It is a very easy and beneficial business and many people are doing so every day.
Sell Your Services – If you have some skills, which I’m sure you have, you can offer your services to people and they will pay you for it. Websites like Fiverr, elance, odesk, freelancer and more make it possible to reach a wider customer base all around the world. All you have to do is create your account with them, edit your profile, add your areas of expertise, add work samples and other related info. Then you have to either bid on various work requirements posted by other people or people will search and come to you. You can also partner with local service providers/websites too which offer services locally. This way you get more clients in your city/town and make a name for yourself.
Trade Stuff – If you need to start any business then you need some money to do it. It also requires basic equipment like an internet connection, printer, laptop etc. You can trade your skills or your extra stuff with others to get what you want. Say for example someone needs a website on his own and you need a laptop. You can barter with him, create a website and get his old laptop. It’s a win-win situation for both.
Low-Cost Services – People tend to believe that only big companies with costly services are good and rest are useless. That’s absolutely untrue. In the starting stages of setting up your business always settle for low-cost services so that you spend less and save as much as you can. Fiverr is a great website to look out for low-cost services. For hosting of your website you can have a look at Blue Host which provides ample space and bandwidth for your needs.
After you set up your business what you need to do is to advertise it and reach as many people as you can by some or the other means. Create a Facebook page and invite your friends and any pre-existing clients to like it. Facebook and Google ads are also a very good and cost-effective way to gain more visitors to your website. WhatsApp has also become a way of reaching more people on a daily basis.
Think of any other way? Do let us know in the comments below. Wish you all the very best.