Whether you’ve just graduated or are a working professional, the thought of being your own boss has occurred to you at some point or the other. But then reality hits you like a ton of bricks and you remember that being a business person requires capital, the volume of which you don’t have. But that was the old days. According to our editor, today people are capable of doing so much more with just an internet connection and the ability to convey their ideas across the web.
Here are some low cost business ideas you can for as little as RM 5,000 today:
1. Drop Shipping Business.
As far as business ideas go, the risk here just doesn’t exist. You only earn when you sell. Note something selling well on AliBaba. Recognize that not everyone wants 50 sets of tea cups. But they do want one cup of tea cups. So just use digital marketing to advertise on a basic site that you’re selling these exclusive hand crafted tea cups and they are of limited quantity. Charge 10% more than what AliBaba quotes you. When you’ve sold all online, buy it on Alibaba and ask them to send the items to the client addresses. Click here for the best guide.
2. Record Label
Bands are abundant but their business skills are not. Approach some of the bands you think have the potential to make it big or have a niche. Offer to handle their online image, lead generation and bookings. Bands don’t have the appetite for business nor should they be the business face as its bad for the image. You’ll learn a lot about the business of music, deal structuring within entertainment, the venues & avenues where your clients have strengths and weaknesses & can rise up quickly.
3. Baby sitting
There are so many Malaysian moms eager to return to the workplace but are unable to find employers with day care centers. You can reach out to your network of cutesy looking middle aged ladies and offer them some baby time in exchange for half of your charged fee. After all, you’ll be heading up lead generation. Business ideas will come to you to extend the revenue stream as baby food companies will see you as an influencer and offer free items for trial and referral.
4. Resume Writing
Every day, HR managers get a flood of emails, of which half are poorly written. Get on the good books of an HR professional and get leads from them of the CV’s that are poorly written. Have them call up candidates and recommend your CV writing services so they can make a better first impression the next time around. You just need to spend 30-40 minutes per session with each customer, get paid upfront and work out of an internet cafe if you’re uncomfortable inviting them over or vice versa. An extended business idea can be to approach the universities that produce the graduates with the worst CV’s and offer them a customized CV template for each university department.
Did we leave out any other low cost, high reward business ideas? Share yours in the comments below.