Newsletter
Legitimate Businesses You Can Start on a Shoestring
Budget from Scott Allen
Whether you're starting a business on the side while still employed
elsewhere, a student or homemaker looking for extra income, or unemployed
and trying to figure out what to do, there are plenty of opportunities
for you to start up a side business inexpensively. It's unlikely
any of these will make you a living in the first few months, but
they all have the potential to grow into full-time businesses. We'll
take a look at 10 such opportunities and, most importantly, tell
you what to do with the $20!
1. Webpreneur
It's what everyone who's ever surfed the Web dreams of—just
stick a web site up there and watch the cash roll in! Well, that
just doesn't happen overnight, but the fact of the matter is it's
really not very hard to do. To do it right, start by picking a
subject matter you know a lot about. Then get a domain and create
a web site. It doesn't even matter what technology you use—just
be totally anal-retentive about it looking good and provide plenty
of original content. Now find some appropriate affiliate programs—that's
where your revenues are going to come from. Next, learn everything
you can about search engine marketing and promote the heck out
of your site. Last of all, set aside time every week to put new
content on the site, delete dead links, and other maintenance.
Now do this three or four times, and you've chosen your topics
well, you might actually have some decent income from it.
Spend the $20 on: $9 for a domain at GoDaddy and
$10 for a year of hosting at Discount
Hosting or Cheaps.net.
2. Consultant
Getting into consulting is relatively simple. All you have to
do is know how to do something better than most people do, and
be able to either teach people how to do it or be willing to do
it for them. Networking is the key to success in this business,
so start by making a list of everyone you know and giving them
all a call.
Spend the $20 on: $14 on a box of clean-edge laser or inkjet
business cards and $6 buying your first prospect a cup of coffee
one morning.
3. Housesitter / Petsitter
Particularly since 9/11, people feel an increased need for security,
and housesitting gives them some reassurance while they're out
of town. This one's great because it basically requires no particular
skills, just trustworthiness and reliability. Be sure to have personal
references available, and you'll also need reliable transportation.
If you're an animal lover, petsitting is an easy add-on.
Spend the $20 on: $2 on flyers to put up on bulletin boards,
and the rest on classified ads in your local neighborhood paper
(not a big city-wide one).
4. Professional Organizer
People these days are simply overwhelmed by their "stuff". While there is an
ever-growing trend of people wanting to simplify their lives, most of us haven't
done it yet. It's not that people really have no clue how to get organized,
it just keeps moving to the bottom of the stack, both figuratively and literally.
There's a prime opportunity for people to come in at a reasonable rate and
get houses organized. And while there is a National
Association of Professional Organizers that you can join when you're ready,
mostly it takes common sense, organizational skills, and a familiarity with
what can be had at your local office supply and The Container
Store.
Spend the $20 on: Classified ads.
5. Avon Independent Sales Representative
Cosmetics is a virtually recession-proof business, because it's an inexpensive
way for people to feel good about themselves. Avon is the largest consumer
direct sales company in the world, with annual sales of nearly $6 billion.
In business for well over 100 years, they have both a highly reputable product
line and one of the few highly reputable multi-level marketing structures
(in fact, they invented it). They also offer fashion and wellness products
in addition to their beauty products. And while they bill themselves as "The
Company for Women", a fairly substantial number of men have actually been
very successful as Avon reps. The secret to making a living at it rather
than just a little extra spending money? Build your downline—just like
with any other network marketing or direct selling business.
Spend the $20 on: $10 signup fee, and $10 on brochures
and a few samples.
6. Personal Services - Shopping & Errands
This is a great one going into the holiday season. Believe it
or not, there are people who wouldn't be caught dead going anywhere
near a mall, but they're not comfortable with buying certain items
online, either. Again, trustworthiness and dependability are the
key traits for this. If your car's not reliable, pick something
else. Also, you won't need cash, but you'll need available credit
on your credit cards, since you really can't use theirs. Consider
an American Express or a Diner's Club that don't have preset spending
limits. Or use a card that gives cash back reward or frequent flyer
miles, and you'll make a nice little bonus for yourself.
Spend the $20 on: $1 on flyers and the rest on classified
ads.
7. Desktop Publishing
It's amazing how many people have a computer and still don't know
how to make a decent flyer! If you've got a good design sense,
are extremely familiar with your word processor, and already have
a laser or high-quality inkjet printer, you can get into desktop
publishing. Create a really great-looking portfolio for yourself
and go door-to-door.
Spend the $20 on: Some high-quality paper to create your
samples on.
8. Tutoring
With the growing dissatisfaction with our education system and
the huge growth in homeschooling, there's an unprecedented need
for tutors these days for kids of all ages—even adults! If
you've got a topic you can tutor in, contact the local schools,
particularly private ones, and local homeschool groups, and offer
your services. Don't be concerned if your topic is highly specialized—even
those are in demand.
Spend the $20 on: $14 on a box of clean-edge laser or inkjet
business cards and $6 on flyers.
9. eBay Seller
Yes, there really are people who make a decent living buying things
at garage sales and flea markets and selling them on eBay. The
big secrets? Stick to products you know (or learn before you start)
extremely well, package your goods carefully, and provide impeccable
customer service. It helps to have a digital camera or a scanner,
but it's not required.
Spend the $20 on: Your first inventory at a garage sale.
10. Secretarial Service - Typing / Transcription / Proofreading
Many small businesses and individuals have a need for these services,
but not enough need to hire a temp through an agency. Assuming
you've got a computer, a printer, and e-mail (and the necessary
skills), you're all set. Be prepared to charge by the job, not
by the hour.
Spend the $20 on: $14 on a box of clean-edge laser or inkjet
business cards and $6 on flyers.
One last thing—beware of home-based business scams that
require a substantial buy-in, such as envelope-stuffing or craft
item assembly. You may not lose money on it if you stick with it
long enough to get really fast at it, but you'll probably never
make the kind of money you're expecting to. Better to do something
on your own.
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