Low investment - high return business ideas
Looking for a business to start but have no money? Here's how to position yourself to succeed with a low investment idea.
Introduction
Thanks to the Internet, starting a business with little to no investment capital isn’t as far fetched as before. Running a business at its core is about being of value to different people. The Internet is a tool that connects you with all sorts of people, regardless of who you are. You can use the Internet to create an opportunity for yourself by finding ways to be of value to people. Total e-commerce sales steadily grow each year, there’s plenty of demand and room for more supply.
In the past, the majority of people were limited to only being able to be of value to people through their formal skills. Because of the Internet, we have the opportunity to not only source out needs that need fulfilling but also easily learn the skills needed to complete these needs. Because we have this opportunity, our limitations are only set by our imagination.
When you’re just starting out as an entrepreneur it’s likely you won’t have tons of cash. This article will explore how you can make it out of that position by leveraging a skill into sales. Learning is extremely easy in today's society. Pick the right skills and you can create a source of income for yourself. Once you learn something no one can ever take it away from you and you can use your creativity to expand on it. If you can find creative ways to use your skills to be of value to different people you can easily start on a path to running a successful business. This article will give you an idea of how to start up a business.
Find a skill that suits you
In order to start selling a skill, you’ll have to focus on what works for you. Everyone has different strengths and weaknesses, find a business that aligns with your strengths. If you’re a people person then learning sales or cold calling would be a good skill for you. Cold calling is an example of a skill that can be applied to every type of business. If you’re more of an analytical, detail-oriented person a skill like editing or design could be good for you.
Remember that there are two qualifications you’ll need to meet when trying to earn money. First, you’ll need a skill that allows you to provide something tangible that makes you of value to people. Secondly, you’ll need a skill that enables you to generate new business.
This second skill can be obtained in the form of marketing courses, learning cold calling, learning sales as a skill and observing what other people in your industry are doing to attract customers. Keep both these things in mind as you select which skills you want to learn.
Save money to invest to continue growing
Although it’s possible to take a skill and start earning with little to no investment, you increase your earnings potential by investing in yourself. Whatever source of income you have, make sure you start saving and leave enough to invest in yourself. Simple things such as certifications or software upgrades can enable you to attract clients of a higher caliber that pay more and need work on a long-term basis. By investing in yourself you can make your money work for your, which positions you for financial freedom.
“If you want to be truly successful invest in yourself to get the knowledge you need to find your unique factor. When you find it and focus on it and persevere your success will blossom.”- Sydney Madwed
Investing in yourself as a freelancer puts you in the position to start running a full business. The better you get at a skill the more specialized your work becomes and the more you can charge. Eventually, you may need to invest in things like a virtual assistant to help you with your workload. It’s important to save money specifically for your business and use it to your advantage to help you make more.
5 skills that can be turned into a business
Graphic Design
Graphic design can easily be learned through Google or YouTube. You can start with free photo editing programs such as Gimp until you’re able to afford the more expensive programs like Adobe Photoshop. Between Gimp and Google and YouTube, you have enough information to build up your skills to a level where you can sell custom images.
Once you’re comfortable with your skill level you can sell your work on websites such as Fiverr, Upwork or Freelancer. You can also call businesses in your area and entice them to buy your services. Eventually, your design work will require you to have a website and marketing plan to attract more customers. Remember, the better your graphic design skill is, the more you can charge & the easier it will be to get clients.
Video Editing
Video editing is another skill that can be learned from articles on Google or YouTube videos. You can spend time using free programs until your skills are good enough to upgrade.
If you choose video editing to get creative with how you position your skills. You don’t have to be limited to just editing videos, you can create documents for companies such as branded video intros & outros for marketing, product videos for sales or product videos that give usage instructions. Find ways to let companies know that your skills will make it easier for them to communicate with their audience.
Just like with graphic design you can make use of freelancer sites to find clients. You can also create your own website and start your own marketing campaigns. Cold calling is a free way of exposing your business to potential customers.
Audio Edits
Audio editing is an example of finding a niche within a niche to develop skills in. Audio editing can be applied to videos, music, podcasts or general web content. Just like the other skills mentioned, you can easily find information to develop your skills online. Sites like Lynda or InfiniteSkills even have courses dedicated to audio editing.
Just like any other skill, you’ll need a website to promote yourself and some type of portfolio. Audio is an interesting niche because you’ll have to send actual audio files as your portfolio. It will be imperative you find an easy way to share your work with potential employers, no one wants to waste time downloading arbitrary files. One option available to you is to make a public playlist on a website such as SoundCloud where anyone can access it. People can easily listen to your work both on the computer and mobile. You don’t have to worry about any potential clients not having the software to play your work.
Website Design
Web design is a classic skill that can be self-taught. Web design information is all over the Internet. In 2016 learning web design is especially easy since you’ll be working with robust content management systems such as Wordpress. Even Tumblr and Weebly can create functional, professional websites at the paid levels. Web design is one of the more lucrative skills you can teach yourself since a single website can go for thousands of dollars.
Conclusion
The best thing you can when trying to sell a skill is to keep learning. It’s a good idea to learn multiple skills that complement each other and use them in combination.If you know web design and graphic design, you can upsell your website clients on branded documents, logos, banners or business cards. If you know video editing and have marketing skills, you can upsell your clients on a content marketing plan surrounding video. As you build your skills, remember to build your network at the same time. It’s useful to know people doing the same work as you. You can send each other referrals or potentially partner up to take on bigger clients.
Being a business owner means you’ll have to take on many different roles in order to properly manage your business. Good business owners develop new skills as they grow their business. Your personal skills, technical skills, and even physical skills will grow throughout your journey as an entrepreneur. Take time to pick the right skills to learn and leverage them into a source of income.
