Every day you scroll on Facebook and Instagram, watching your connections (and those random people you have no idea how you started following) self-promote their businesses. You watch their Instagram stories or read their posts on Facebook and ask yourself, “Why can’t I do that?” The answer is you can.
Chances are that one day, those same entrepreneurs decided they were sick of scrolling through social media watching other people live their dreams — they wanted to chase their own. So they did. And if your dream is to start your own business, then it’s time to get moving.
But you don’t have to create a multi-million dollar business overnight. You can start with a small investment or a low-cost business. If you’re trying to decide what business to start, you may want to consider the following low-investment business ideas.
1. Start a Website, Blog, or Podcast
Pick a niche topic you’re interested in: cooking, lifestyle, gaming, relationships, business, etc. In no time, you can create a brand around this niche that aligns with your dream job and is both low-risk and low-cost.
Once your website/blog/podcast has the framework established, you can start generating valuable content and earning income from affiliate sales and ad revenue. It may sound small, but this can be a solid launching point to jumpstarting your dreams.
2. Become an Online Coach or Instructor
If you have deep knowledge about a particular topic like fitness or cybersecurity and you enjoy sharing your insight with others, think about becoming a coach through various platforms. You can start promoting via your own social media channels, or become an instructor on websites like UDemy or SkillShare.
You can even take it a step further and create ebooks or digital downloads for your audience to purchase, truly launching your dream business with just a little overhead. Though you may begin by teaching behind a screen, maybe one day you’ll be giving a Ted Talk to a live audience.
3. Become an Online Seller
Have goods to sell? Are you a crafter, refurbisher or thrifter? Then you should consider becoming an online seller to jumpstart your low-cost business. Depending on what you’re looking to sell, you can pick from many ecommerce platforms like Etsy, Amazon, eBay and others.
Start by gathering or creating your merchandise and setting up your online store while keeping your costs minimal. Perhaps you want to simply be a seller for an already established business like Mary Kay or Stella & Dot. This could be a great learning experience to try your hand at sales without risking too many of your own dollars.
4. Try Freelancing or Consulting
If you have experience in a particular subject matter and dream of owning your own consulting firm, strategic agency or photography studio, then launching a business as a freelancer or consultant can be a great low-cost approach.
Self-promote your business through LinkedIn, or become active on freelance websites like UpWork or CloudPeeps to find gig opportunities. It’s a simple start that will give you a taste for this particular side of your future budding business, and could potentially lead you to lucrative opportunities.
These are just a few business ideas with low investment required; there are plenty of others to choose from if none of them sound like the right fit. Whatever low-cost business idea you do decide will help you jumpstart your dream, you’ll need some guidance along the way. Incfile is here to provide company formation services as you get started, and we can lend a helping hand as you get the hang of managing your business too.