Did you know that you don’t actually need a large capital to start a business? In fact, many businesses started out small and with low investments that eventually made it big. The following low investment business ideas will help you take your first step in the world of business.
To name a few we have Grammarly, Behance, Craigslist, GitHub, Shutterstock, the list goes on and on really. So, what do all these companies have in common? What was their secret to success?
Read the rest of this article to find out how you too can start your own business with these low investment business ideas and tips.
The Secret to Success
Venture Capital (VC) and why is it important?
A Venture Capital is essentially a capital that is invested in small businesses or start-ups by investors who believe that the company has good long-term growth potential. These investors are usually from higher-end investment banks or other financial institutions.
This form of capital does not always have to be monetary and can instead be in terms of expertise. The investors will only provide this capital for companies they see exceptional potential in.
Although VC is an important factor, businesses usually get too submerged in the idea of their first investor instead of focusing on the main idea and plan that will get their business booming.
Tips and Tricks to Follow
The real secrets to success are actually innovation and creativity. The above-mentioned companies made it big due to the following reasons:
- Capital isn’t the only important thing. What matters is how much return you get no matter how much your capital is. The most successful businesses are the ones that can multiply their capital with the resources they already have.
- The easiest way to come up with the best idea is to take something that you do in daily life and find how to automate it. For example, we have electric toothbrushes.
- Your company doesn’t have to be so innovative that it ends up being bizarre, instead think simple low investment business ideas. Your business model should also follow the same motto, simple and precise.
- Sometimes when your ideas and plans are too futuristic, they don’t always work out. A lot of companies have faced failures because of not focusing on the present and building foundations for themselves before venturing on.
- Don’t always expect to get a lot of funds, especially in the beginning. You need to have solid evidence that you will end up having a good long-term growth for investors to even consider your company. This is probably one of the most important tips for low investment business ideas.
- You can also rack up your funds by other means such as grants and pre-sales, these will be your strongest evidence for others to invest in your business.
- Make sure that your focus is entirely on the customer of your products. Their requirements and you how you fulfill them are what will determine your success or failure.
- Immediately be effective and captivating when it comes to marketing—don’t hold it off for later.
Best Low Investment Business Ideas 2020
It’s always essential to choose the idea that is most relevant to the kind of world you live in and then expand it. Microsoft was founded when the world still used typewriters, Facebook was made to connect people of the same college, Google was created because its founders felt that information wasn’t properly organized, these are all just some examples of how the biggest companies came to be.
As they say, great success begins with a small step. Here are some exciting low investment business ideas for your 2020 aspirations:
Blogging can be a good and profitable way to share your knowledge and expertise on particular topics. For people who are well-versed in a specific field, this could be a great way to educate other people while also making good money.
Remember to choose the most popular platform for your topic, for example, if photography is your forte, Instagram will be your best chance at attracting viewers.
When creating a business-related blog, make sure to have the following essentials:
- A niche
- The domain name and web hosting service
- SEO tools
- Build domain authority
- Monetize your blog
Like blogs, this is also a great opportunity for people who have in-depth knowledge of certain topics to provide their expertise to new learners. Subject matter experts can convert their experience into a suitable income.
Platforms such as Teachable and Thinkific can be great to build a vast community of students who wish to learn something new. With the number of competitive exams on the rise, students opt for the most efficient learning experience and those who have sound knowledge on these topics can even create companies like Unacademy and Toppr to make a huge profit.
If you’re fluent in other languages, this can prove to be a very advantageous skill to have. Having the ability to be multilingual in languages such as Mandarin, French, and Spanish can lead to double the profits made by just English businesses.
Translators have a lot of freedom in how they can begin. Almost everything these days can be more useful with translations in different languages so that people everywhere in the world can understand.
Something that a lot of different businesses look for is virtual assistant services. People who have top class organizational and management skills can opt for these kinds of businesses.
Freelancers, large enterprises, and corporations are just some of the businesses looking for these services. Virtual Assistants are expected to handle activities such as answering emails and scheduling meetings, among others
All different types of companies require content to be created which allows this idea to be the biggest and most awarding as the possibilities are endless. Remember that there are different kinds of content, it doesn’t just have to be writing. You can have a team if video editors, photographers, writers, podcast recorders, etc.
Teamwork makes the dream work, and a skilled one like this with people having skills in different areas of content will be formidable. This comes is another low investment business idea that makes a huge profit in the long run.
A drop shipper is someone who can sell products online without having to keep them in stock. They will directly transfer the customer’s order and shipment detail to a retailer, manufacturer, or wholesaler who will then send it to the customer themselves.
Extensive market research and analyzing current trends are important skills to make this a successful low investment business idea.
This can be a simple and easy way for those who are already passionate about this hobby to make it a professional way to earn. One can simply choose a particular kind of photography such as wildlife or wedding photography and get started with good equipment.
Social media can once again help boost this business, and once a decent portfolio is made, every company will be looking to hire for these services.
Wedding planning involves a lot of attention to the finer details and intricacies that go into a wedding. Step by step organization skills with the ability to coordinate with lots of people is very important.
Building a team of resourceful people who know what they are doing will go a long way.
The internet can reach all across the globe. This is something that internet advertising companies can make full use of and easily grab a wide variety of customers.
This kind of business requires ads to be spread to many different websites, blogs, and social media to make a particular product popular. Internet advertising is said to be one of the most promising low investment business ideas.
The opportunities in this field are immense as companies always need graphic designers for marketing purposes. If you have skills in designing logos, posters, banners, etc. definitely consider this low investment business idea.
One can either start from scratch from online courses and materials or by freelancing. Adobe InDesign and Photoshop are two commonly used software for this purpose.
Companies are always looking for these services to launch and upgrade their websites.
This is a type of farming that does not require soil but rather hydroponic or aeroponic growing methods. Plants grow in a vertical manner, hence the name. This is suitable when the land does not meet the needs of the growing plants and can be simply done in a home or office.
Similar to wedding planning, this low investment business idea requires a detailed step by step planning and organization that are favorable to customers.
Look through different travel companies and find out how you can improve from them and create your own. The travel business is one of the biggest markets to be involved in.
If cooking is your forte, this could be a viable business option as people are always looking for local caterers for various events such as weddings and birthdays.
Make a website and start promoting your skills to make it big!
Due to the new wort at home environment, website flipping has emerged as a successful business venture on the market.
When one buys a website that already exists and functions, makes changes and improvements to it, and sells it for a good profit, it is called website flipping.
Someone who knows every single nook and cranny of WordPress can consider this idea as this company has a lot of customers that require support.
Make your own website and list out the services you can provide for clients to attract clients.
Usually starting as freelancers, people with email marketing tools can eventually find different clients by showing off their skills through various projects.
Once clients realize how well you know your marketing tools, they’ll be chasing your services no matter the cost.
A lot of the ideas that have been mentioned are either innate or learned skills that an individual acquires over a lifetime. Hence someone with an eye for fashion and the current trends can find this type of business easy.
With the amount of doubt and indecisiveness in today’s world, personal shoppers act as advisors to their clients in picking out suitable apparel that matches their style and wardrobe.
Social Media Manager
These days, social media is the place to be to make connections with its wide audience and reach. Different types of businesses on social media, whether influencers or start-ups require someone to manage and promote their content so that they achieve a good social media presence.
The world and the internet consist of numerous sets of data that need to be compiled, filtered, organized, and analyzed. Those that have a wide range of technical knowledge and don’t mind playing with numbers can look to this idea for their low investment business.
This is one of the highest paying services in today’s world and yet again another promising business venture.
With this collection of tips and tricks to and low investment business ideas, you should be well on your way to finding which skills of yours can be beneficial and how you can make them into a profitable business.
Good luck 😊