There is an old saying about money making money, but what if you don’t really have enough money to invest? Loans are an option, but considering how many businesses fail each year, that loan could become a troublesome debt. Besides, not everyone can get approved for big business loans anyway.
In such situations, there is always the option to start from scratch and start small, a strategy that most new entrepreneurs have forgotten about these days. Today we are going to discuss three business ideas that cost next to nothing but have a high rate of success, nonetheless.
Personal Assistance Service Business
Personal assistants play crucial roles in big and small companies, but well trained and dedicated PAs are neither easy to find or affordable for smaller business owners. By starting a personal assistance business, you can help serve that target group by adopting any of the following business models.
- If you have experience as a PA, divide your work hours between multiple clients and charge them by the hour.
- If you know people who can serve as personal assistants, act as a mediator in between their services and the businesses that need them.
The entire operation can be conducted from your home as a virtual assistant or virtual assistant manager, which is perfect in the middle of a pandemic!
Errand/Maid/Concierge Service Business
From supplying delivery personnel and maids to personalized concierge services for special clients, the opportunities in this business are as vast as the fields themselves. As the owner of the company, you don’t really need to make too many investments at all, as you are neither producing nor providing a product/service directly. You will need a solid contact list to both find clients and willing workers though, which is where most of your investments in this business will go.
Use Your Own Skills to Start a One-Man Business Venture
It doesn’t matter whether someone is good at painting houses/fences, photography or handyman work, as long as you have a skill that people will pay for, it can help you become an entrepreneur without a single employee. Just be sure to register your business because that is important. Of course, you will be hiring additional workers for the company later when you are able to, but you need to start reaping the benefits of registering a business from Day One. Believe it or not, even the registration process, including the business lawyer’s fees can be quite affordable as well!
An often-overlooked advantage of starting with low investments is also the low-risk factor. This is not to say that low investment businesses have a higher chance of success because that is highly variable and not entirely true. At the same time, though, the flexibility it provides cannot be denied either. Even if your dog walking venture does not pan out the way you thought it would, it will not bankrupt you, nor will it stop you from starting a new business that has a higher chance of success.
