How to Start a New Business with Little Money

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By: | August 20, 2019 | Tags: , , ,
6 Business Ideas with Low Investment

Would you consider starting your own business?

My daughters and I were brainstorming startup ideas.

Although we weren’t serious, today’s guest author explains how you can affordably start a company.

By the time you’re done reading this post, you will know 6 affordable ways to start a new business.

How to Affordably Start Your Own Business

Janice Wald and a Contributing Author

A household-based company has the ability to provide you with good revenue, but it requires engagement and marketing expertise to go the freelance path.

Many individuals would love to begin a company of their own. Certain niches will be more lucrative and reliable than others, of course.

Are you already working for another business and considering starting your own business?

The best kind of business is one that will bring you residual income for a long time to come. For example, pest control is a healthy option.

You can ensure that for many, many years to come, customers will be fighting bedbugs and roaches. However, pest control work, while a nice source of recurring income, is not for the squeamish. You need to take your personality traits into consideration when choosing a business to start.

Below are some of the best tips to start your own business:

6 Business Ideas with Low Investment

Basic Background information

First of all, you need to have a grasp of information about how to run the company. For example, you will need some business products. These are to help you run your company, not for selling.

Warehouse retailers like Costco have low prices which enable you to buy needed supplies in bulk.

Website

A website, of course! A website, car sign, company cards, and publicity materials are required to support your company. Also, strong networking abilities help to establish relationships with providers and business and residential customers. To make your company a highly-rated service, you need to be good at delivering your best.

Transportation

To purchase some of these products, you may need a permit. You’ll need a van or a truck as well. You will need to carry a lot of supplies from place to place after all.

If necessary, you can always rent a U-Haul to transport your supplies.

Protection

You should understand that protective equipment may be needed. Some supplies you use to operate your new business may be dangerous. For example, if your business is offline, you may need gloves and a mask that will keep you secure from beginning to end.

License

You will have to obtain a permit in your respective country while you’re at it. Almost every state in the U.S. requires a license before people in various industries can start serving the public.

[Host blogger’s comments: The city sold me a permit to operate my blogging business out of my home. The cost was $52.00]

There are many qualifications for obtaining a license. Make sure you get your customers impressed so you can get all the nice reviews and never break any legislation or laws. If you do, you can fairly much ensure the suspension or revocation of your permit. Ultimately, that would destroy your company.

Serve your customers

You’ll want to do all you can to put a smile on your customers’ faces after that. Make sure each and every one of your customers is satisfied. If you can do that, it will spread your company through word of mouth and your client base will develop.

For example, if you did go into the pest control industry, you’d want to make your company a highly rated pest control service, so you need to be good in delivering your best.

[Read How to Refresh Your Image as a Business 100%.]

Competition against companies with similar marketing budgets is a given, so know the unique value proposition offered by your company and efficiently communicate your company’s mission to your clients and prospects.

Host Blogger’s Comments: More Business Ideas with Low Investment

An additional important step is getting an email vendor. You need emails to stay in touch with your clients.

For example, if you send them an email wishing them a happy holiday season, they will be more likely to remember you when seeking a company that provides your service in the new year.

Although the cost of the email vendor will vary depending on the service and your number of email subscribers, the cost is usually nominal.

Wrapping Up: Business Ideas with Low Investment

Not only are these business ideas with low investment, but all your expenditures are tax-deductible.

Find an affordable business accountant. That’s another one of your practical business ideas with low investment!

Readers, please share so entrepreneurs gathering startup ideas discover these tips.

We look forward to your views in the comments section. Do you have any additional business ideas with low investment?

This post was made possible by the support of our readers.

  1. Aadarsh Roy | at 3:39 am

    Hey Janice Wald,

    Great post with great business tips. I really like the post and especially the tips that you have made. Your
    all the listed tips are effective and helpful to start a business. Website is truly vital for business, whereas a website is a great source where the readers and people can get several helpful information and knowledge. Protection is also necessary for a business, as protection will keeps the business secure. License is also important. Serving the customers will helps lot and will provide good benefits and outcome. Your all tips are helpful but i truly like an idea of serving the customer, license and website.

    Helpful post and thanks for sharing.
    Aadarsh Roy recently posted…30 Most Effective Ways for Content Marketing In 2019My Profile

  2. niraj | at 5:04 am

    Hello Janice,
    Great article and very helpful information for people like me who have just started their business. Am sure these tips would helpful for all, These low-investment online business ideas make a great entry point for beginners.
    Business knowledge is an important strategic asset. It is a sum of skills, experiences, capabilities and expert insight, which we collectively create and rely on in our business.
    niraj recently posted…Ten Important Facts That You Should Know About IGNOU Admission 2019-2020My Profile

    • Janice Wald | at 10:08 am

      Hi Moss,
      Thanks for these wonderful compliments. Congratulations to your brother on his success! I appreciate you writing with these kind words and this testimonial about the validity of the tips.
      Janice

  3. Bella X | at 2:27 am

    Thanks for info. When I started my business 20 years ago I had to secure license, telephone line, advertise in Yellow pages, business cards. After 10 years stopped Yellow pages went into digital marketing and I had to start building clientele online with website.

    PS Janice you did ask me in your blog where my clientele are from. They are from all over the world visiting Singapore on business trips.

    • Janice Wald | at 9:51 am

      Hi Bella,
      Thank you for letting me know where your clients are from.
      In regards to your comments: The start of digital marketing is definitely a transition for marketers. Even if digital marketing is easier since you reach more people, it’s definitely a transition.
      For example, if you keep your physical (traditional) ways of marketing off-line, you now need a second department for digital marketing. It sounds like you stopped your off-line marketing efforts after digital marketing became mainstream.
      Thanks for your comments.
      Janice

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