794: 10 Fresh Business Ideas with Low Startup Costs
Jul 24, 2024
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Discover how billion-dollar companies like Apple, Disney, and Papa Johns started with little investment. Get inspired by 10 low-cost business ideas ranging from virtual assistants to online coaching. Explore the opportunities in affiliate marketing and the importance of accountants in business.
Starting a business doesn't always require big investments, creativity and passion are key.
Virtual assistant business offers flexible earning opportunities with an average salary of $50,000 per year.
Event and wedding planning have low startup costs and potential annual earnings of $53,000 to $96,000.
Deep dives
From a Premium Dating Platform to a Personal Dating Assistant
The podcast episode introduces 'The League,' a premium dating platform focusing on quality matches for busy individuals seeking meaningful relationships. Founded by Amanda Bradford, the app requires applicants to apply and get accepted, creating a safe community of like-minded, goal-oriented individuals. Instead of endless swiping, 'The League' provides personalized daily match recommendations like a personal dating assistant.
Starting a Side Hustle with Low Startup Costs: Virtual Assistant Business
The episode suggests starting a virtual assistant business as a low-cost side hustle. Highlighting the importance of delegation, the speaker shares a personal experience of hiring a virtual assistant who transformed inbox management and gradually took on more responsibilities. Virtual assistants provide administrative services remotely, offering a flexible earning opportunity with an average salary of $50,000 per year.
Event and Wedding Planning as Lucrative Endeavors
Event and wedding planning are presented as profitable ventures with low startup costs. An anecdote about a community member providing personalized services for events underscores the demand for event planners post-pandemic. Wedding planners earn between $53,000 to $96,000 annually, making this a viable career option for organized and creative individuals.
Entrepreneurial Opportunities: Dropshipping for Low-Risk Ventures
The podcast discusses dropshipping as a low-risk business model where products are sold online without inventory management. Sharing a personal experience with art-based dropshipping, the speaker emphasizes the low initial investment and the flexibility to test products without large inventory risks. Dropshippers can earn 20 to 30% profit per sale, highlighting the potential for daily profits ranging from $50 to $5,000.
Explore the World of Online Courses and Coaching
Online courses and coaching are highlighted as lucrative opportunities with low startup costs. With an increasing demand for online education, individuals can share expertise in various fields through courses. The podcast underlines the potential for additional income streams by offering online coaching services. These ventures cater to specific skill sets and interests, enabling individuals to create digital courses for diverse audiences.
I think just about everyone and their mother knows the story of Steve Wozniak and Steve Jobs starting Apple Computer Co. from Jobs’ parents garage… but did you know they’re not alone in the list of billion-dollar companies who started with little-to-no investment?
Walt Disney, Hewlett-Packard, Mattel, Papa Johns, and so many more household names were all founded on a tight budget and a good idea, proving you don’t need investors to start something amazing… you just need creativity, passion, and the willingness to take one step at a time.
If you've ever felt the tug to start your own business but worried about the cost, this episode is for you. I’m about to give you 10 fresh business ideas that are perfect for anyone looking to make a big impact with a small investment. I even think that some of the BEST business ideas don’t require a ton of money to get off the ground!
It IS possible to dream big without spending big, and I’m going to prove it to you right now. Click play to hear about 10 businesses you can start with low startup costs!
