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Some Inexpensive Business Ideas For The New Entrepreneur
Written by: Lee ListerArticle Overview: So you want to start your own business – you are a new entrepreneur so to speak. Maybe you have just become unemployed and are trying to start a business from scratch or you’ve just got the yen to start a new business. In these recessionary times starting capital is going to be tight. So how do you start a new business without spending too much of your hard earned money?
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Some Inexpensive Business Ideas For The New Entrepreneur
So you want to start your own business – you are a new entrepreneur so to speak. Maybe you have just become unemployed and are trying to start a business from scratch or you’ve just got the yen to start a new business. In these recessionary times starting capital is going to be tight. So how do you start a new business without spending too much of your hard earned money?
Well first of all you need to realise that what you don’t spend in money you are going to have to spend in time and what is cheerily called “sweat equity”. Secondly a business that is started with little capital is not one that usually grows very quickly – so you initial income or profit (if any) will be low. So with these thoughts in mind what are the low cost business models open to you?
Web Based: The most obvious one is setting up an internet based business. Traffic and buying customers are hard to attract now that the internet is so crowded so you should always look for a really good niche, a great descriptive domain name and an easy to use, well SEO’d web site. Internet millionaires are very rare, internet marketers selling poorly written “get rich” schemes are not – so be careful out there. Treat your web based business like a business that will take time and care to expand and you should be ok. Your costs will be for web design, hosting and domain and marketing which can be from low to expensive!
Party Planning Sales: One of the quickest ways to get your products out into the market is to sell them via parties – just like Avon, Tupperware and Anne Summers. The use of commission only sales staff coupled with demand only fulfilment and no need to have a retail store will ensure that your start up costs are at a very low level. Your only cost will be for your demo kits and presents for your hosts. Advertising can be via notice boards and classified ads. It is important that you ensure that you keep your kit levels and stock under control as you expand.
Market Stalls and Karts: Both are cheap to rent or lease and if you choose your positioning well they are an ideal way to test out your retail business. Your stock will by necessity be low and you can hire minimum wage staff if you need assistance. The hours can be long and heavy on your feet, but you are ideally placed to get customer feedback on your products! Marketing can be kept to a minimum, although you should budget for samples.
Public Speaking and Seminars: If your new business is going to be more service based then holding free or low cost seminars is an ideal way to introduce people to your company and get some cheap advertising. Be wary of giving it all away though – give them a taster only and then leave brochures out with your available services. Giving talks on an interesting subject is always popular with clubs, hotels, restaurants etc. and is a great way to position yourself as an expert. Your costs here will mostly be transport and marketing costs. Although you will be giving some of your services away. Ensure that those that come to your talks or seminars are interested in your services and potential customers.
Internet Selling: On sites such as eBay and Craigs List is an ideal low cost way of testing the marketing and selling without the need for a retail area or large stock. Of course your goods must be easily and cheaply transportable to make it profitable. Some people make money by buying at auctions, garage sales, boot sales and markets and then reselling on the internet. Your costs will be listing fees, payment processing and mailing costs.
Home Services: There are numerous home services you can offer, that have very low start up costs, mostly being initial kit, marketing and advertising. These services can be such things as gardening, lawn cutting, cleaning, carpet cleaning, courier, dog walking, ironing etc.
Which ever business you plan to start – make sure that there is a demand for it in your area and good luck.
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Article Tags: anne summers, business models, business traffic, demo kits, descriptive domain name, fulfilment, hard earned money, internet based business, internet marketers, internet millionaires, market stalls, party planning, rare internet, recessionary times, retail store, sales staff, sweat equity, tupperware, web based business, web site internet
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About the Author: Lee Lister RSS for Lee's articles - Visit Lee's website  From an early age she began an unparalleled journey through business consulting that continues to span across the UK, USA, Europe and Asia. She has consulted for a considerable number of companies all over the world. Specialising in business change management, start up consultancy and trouble shooting. Lee's experience in marketing and internet marketing is also keenly sought after. She is a prolific published writer of books, ebooks and articles and can easily be found on major search engine and Amazon. Her books include: FastTrack Bid Management, Proposal Writing For Smaller Businesses, How Much Does It Cost To Start A Business, Entrepreneur's Apprentice and a series of Start My New Business books that do as they say in the title! Her major web sites are: Click here to visit Lee's website   Article Writing for the Nervous Investors in your business are they the best solution for your funding problems A Website thats not for a Small Business Surely Angel Investors How to Interest Them in Your Business Entrepreneurs Want To Increase Your Profits Without Increasing Your Costs |
Related Forum Posts
My entry
- 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read
- this is a fascinating book about the history of Business theory, and I'd recommend it to anybody.
2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto.
3. PADI: The Business of Diving Book
Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Re: Top 50 Lists
- Hi Evan,
How about "Top 50":
-Inventor Blogs To Watch
-Franchising Blogs To Watch
-Business Book Review Blogs
-Women Entrepreneur Blogs
-Young Entrepreneur Blogs
Re: Ideas For Business
- Hello Lucy,
you may consider this list for Ideas for Business: (Top 23 list)
Rank Company
1 Google
2 Genentech
3 Wegmans Food Markets
4 Container Store
5 Whole Foods Market
6 Network Appliance
7 S.C. Johnson & Son
8 Boston Consulting Grp.
9 Methodist Hospital Sys.
10 W.L. Gore & Associates
11 Cisco Systems
12 David Weekley Homes
13 Nugget Market
14 Qualcomm
15 American Century Invest.
16 Starbucks Coffee
17 Quicken Loans
18 Station Casinos
19 Alston & Bird
20 QuikTrip
21 Griffin Hospital
22 Valero Energy
23 Vision Service Plan
Exclusive: Interview with Results
- Hi Forum Members,
I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles).
As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business.
This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business.
I am looking to interview about 30 businesses across North America over the span of 3 months.
At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews.
I would like to extend this opportunity to members of the Forum.
If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM.
Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.
Re: What or Who Sparks Your Business Interest
- Hi litekepr, a publican is someone who runs a public house, a pub as we call them here in the UK, a bar in the US I think.
Ideas yours is definitely a very inspiring story and it just goes to show you can do anything if you set your mind to it,
take care,
Carol
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