You know how most successful businesspersons in the world start their stories with ‘I had no cash in my pockets…’ One would take that as a hyperbole, but what if we tell you, it is actually possible to start a business with almost no capital?
No, we won’t start a rant about the passion and determination is the only currency you need. While those traits are important, you do need to find the right niche to begin with.
There are certain types of businesses that can help you live your entrepreneurial without having to take a huge loan. Here are six ideas for starters.
A Skill Based Service
Are you good at any form of service that takes nothing but skill? You can be a technician, a driver, or a writer. The skill can be a gifted one or one that you have acquired over years experience. You can actually start offering your service for a certain price.
It is a surprise how so many people who can be a consultant, never realize this opportunity. What does it take to be a consultant? Experience and knowledge. If you have been associated with a sector for more than a decade, you definitely have the knowledge and understanding to become an independent consultant.
Crafts and Creation
While you may require some capital for the raw material, it isn’t too big of an amount. Once you start selling of your pieces, you can move to the ‘create on demand’ structure that will help you manage your finances more efficiently. This is similar to skill-based businesses.
Reselling business can be started on any scale. You can buy electronic items or gadgets and sell them for a profit or you can go for a property or a vehicle. There are people who have actually made fortunes by reselling items and properties.
Your neighbour might need a baby sitter for four hours a day, or may be the house next door can get some help with their garden. If you have the time and knowledge, you can offer those services. Home based services may also include cooking and baking for small events and eventually sizing up to a catering service.
Whatever you plan to do, don’t forget to protect your business from the very beginning. 365 Insurance is the ultimate destination for small business insurance solution in Victoria. Get your business insurance quote.