By Juliana No, CEO of Stand Out Consulting, a Business Consulting and Marketing & Public Relations Agency specializing in helping businesses find new forms of revenue and guiding entrepreneurs.
There are many who want to start a business these days. However, the common excuse for not doing so is oftentimes the lack of time or money.
However, contrary to what many think, it is not the lack of money or time that is really a challenge but the strategy, the how, and the where. The truth is that’s there are plenty of options for creating businesses without investment capital and or less than $ 100.
In terms of time, it is usually a matter of organizing and prioritizing. Now that many are out of work or working fewer hours, I recommend that you make an investment of your time in creating something that motivates you as a business, either to increase the money coming into your household as a side hustle or with the vision of a business that can actually become the main hustle. In times of crisis like the one we’re living, time and money are no longer an excuse. If you really want to start and don’t know what or how, this article is for you.
Want to start a business but don’t know how to do it or what to do? Here are some options to start a business with little or no capital.
• Online store with no actual merchandise thanks to dropshipping: The mix of the Shopify platform with the Oberlo system allows you to set up a store for as little as $ 30 a month and not spend on merchandise or storage. You choose from a catalog what you want to sell and when something is sold, you and the supplier get paid. This is a system that many people have replicated on platforms like Amazon or Ebay. It is about making a list of objects sold on other platforms and listing them with an upcharge on your store on a different platform. When they buy from you, you buy from the platform and send it to the address they gave you. This way, you never spend before someone buys from you, you don’t have to spend that much time on the business, and you don’t need to stock merchandise.
• Selling food from home: Although you have to abide by certain regulatory limitations, there is food you can make and sell from home without having to ask for special permits (check your State and County Laws). You can start by promoting in your community and inner circle. On your website and Instagram you can showcase photos of food that you have done in the past and what you daily create in your own household as an example and when you secure a gig, you ask for a deposit with which you buy the ingredients of each order. These businesses are also very easily advertised in Facebook groups, WhatsApp, and neighboring communities.
• Selling through Etsy: If you are one of those DYI fans, you can publish each object you create for a few cents and from your phone. Each product post costs just a few cents and you can say that you have 100 of that product without paying additional. You can produce one product for the picture and create more only if they’re ordered minimizing your cost. Etsy is a well-known platform for selling arts & crafts but you can also sell material. Therefore, the other option to create business in it is the sale of products to make crafts. Another successful business on Etsy is the sale of “packages” such as gift baskets. Even if you haven’t made the products inside, you can assemble the basket and sell it because you technically “built” the basket.
• Online administrative services: If you want an office job without going to the office, this is the ideal one. Many small businesses need these services. From answering phones, to sending emails or planning trips from home in pajamas. If you have a computer, the internet and basic knowledge of systems such as Word, Excel, email and others, it is a good business to consider. As for how to promote it, Facebook groups and LinkedIn groups may be one of the best ways to do it.
• Network Marketing: There are many companies in this and it is the new trend thanks to the use of social networks. Make sure it is not a pyramid scheme and that you really connect with the product. Normally you will have to associate your personal brand with this brand and publish on your personal platforms constantly about their use so it’s important that you like it and feel passionate about it. If it is not something that aligns with your values and personality, it will not work as a business.
• Digital courses: This is in my opinion one of the best options. Everyone knows how to do something or use a program. Why not earn money explaining how to do it? From how to make bread to how to use Excel. There are endless platforms where you can post or deliver your courses ranging from Live Zoom courses for $ 15 a month to Udemy where users can buy it and receive a certification.
