Many people who would like to start their own business think that they need to have a large amount of money available for the initial investment. If you try to go big, and open a store or take up headquarters in an office building, that’s perfectly true. However, the wisest and savviest entrepreneurs started their businesses small – working from home, with a small budget and a small scale plan.
It is very simple: if you start small and you fail, you will not lose your life’s savings. However, if you start big, the risk of failure is even bigger because you are directly jumping over the line and competing with managers who have years of experience in running a business.
Therefore, here are five business ideas which you can start by working from home and with an initial investment of under $100. Depending you your business acumen, talent and willingness to work hard and invest more, you could be the next eBay or Apple. But for starters, here is what type of business you could run today:
1. Freelancing
If you are a trained professional in the famously named “liberal arts”, you could become a freelancer, instead of working a 9-5 job. Writers, graphic and web designers, architects, accountants and musicians (composers or performers) are the typical professionals who work as freelancers. You only have to establish yourself as an independent contractor for taxation purposes and pay some fees to get your tax code.
As a professional, you already have the tools you need for your work at home: computer, software, various instruments and other equipment. With the free site builder offered by many hosting companies, you can create your own website and then promote your services on the social media.
2. Online Tutoring
Are you skilled in any educational field and do you think you can teach others? You can become an online tutor. You do not have to work with children, if you do not think you can keep their attention focused. A lot of adults want to improve their education and seek online tutoring for various subjects related to their current job, or to a new one which they want to start.
3. Creating Information Products
What are you good at and love doing? Gardening? Home improvement? Computer troubleshooting? Whatever your skill is, you can make money out of it by giving people the information they want through e-books, videos, podcasts, or webinars. A lot of people built solid and prosperous businesses using this particular business model. Information and education are two valuable merchandise these days, so do not waste yours.
4. eBay Selling
You can start small, with a few items, and then use the revenue from the initial sales to fund some bulk purchases from sites such as Liquidation.com. Find a niche and become a trusted vendor for that niche and the sales will keep on coming.
5. Virtual Assistant
It may seem like a job, but it is a business. You are not working for one but several clients, providing them with administrative support. As you grow accustomed to various business practices and industry fields, you can grow your business by hiring other VAs and supervising them. All you need is your home office, some basic software programs and lots of flexibility in working with different types of personalities.