Six Low-Investment Business Ideas You Can Start Today

Published on: 09 February 2018 Last Updated on: 19 August 2019

Although they may already have a traditional 9-to-5 job, many people today are slowly beginning to realize that in order to have financial security, and they need to have multiple sources of income. Because of it, many people are looking to give up their daily jobs in order to become self-sufficient and start their own businesses. Even if they prefer not to completely leave their job, the general population has already realized that with the economic strain on income generated these days, they will need to have more than one source of income.

Unfortunately, people are generally hesitant to do so and they might have a valid reason too. Starting your own business is not as easy as it sounds; in fact, successful entrepreneurs seem to think that if anything it is even harder than it used to be because of the many restraints present in today’s world. The main restraint being the amount of funding required in starting a business which, due to inflation, has gone up day by day. However, there still are many other options one can take to start a successful business which does not require a huge sum of money so here are 6 low investment business ideas that you can start today.

1. Offering services:

While every business idea does require at least little funding, offering services to people requires no funding cost at all. It is a great way to earn money if you are looking to avoid taking small business loans or any other loan although that might be beneficial for some people. There are many services you can perform that do not require funding and are easy to master too as described below.

Recruitment Services: Many local small or mid-scale businesses are interested in hiring suitable employees, and you could provide that service for them. It only requires you to build a database of potential employees and match them to the respective companies depending on what they’re looking for. If the person you recommended does get hired, they will pledge their first month’s salary or part of the salary to you, and in this way, you can earn money without investing a heavy amount of money.
Party Planning: Providing party planning services might be a hectic job, but it is a job that pays well. Many people will pay a good amount of money to avoid going through the hassle of party planning and this is where you can provide that service for them. It won’t require any of your investment, and you can easily make a profit off of it. Once you’re experienced enough, this can easily be turned into a full-time job and then you can look to further expand your business.

2. Online Freelancing:

In today’s modern world, almost every one of us has access to an internet connection and a computer, online freelancing is one of the best options, if not the best, you can still take it if you’re looking to avoid a major business investment. If you feel like you possess an IT skill that people are willing to pay for, online freelancing is the way to go. With various freelancing portals like Fiverr or freelancing.com already available to you, all you have to do is to invest in a decent computer and a fair internet connection (if you don’t already have one).

3. Marketing Services:

Businesses are always looking to expand their market reach and many local businesses in your area will be looking to do exactly that. That presents an opportunity for you as it is a service you can provide through either affiliate marketing or digital marketing, both of which require little to no investment at all. If you’re going the affiliate marketing route, the companies will provide you with their products that you’ll have to sell or the operations you have to advertise, so none of your investment is in play.

Similar is the case with digital marketing in which companies are always looking for digital marketers to be able to provide marketing copy that is search engine optimization (SEO) friendly and can transform websites visitors into actual customers. You can provide this service through the comfort of your home provided you have an internet connection and a computer.

4. Online Product Marketer/Seller:

Online product marketer or seller is somewhat similar to affiliate marketing with the only difference being that you’ll have to sell products directly to customers online. The only requirement from you will be to be familiar with the directory of the products of the company, and you won’t have to have any of your investment. The more products you’ll sell the higher you’ll earn as the earning is directly related to the commission made selling a product. Online market places like eBay and Alibaba have this option, and you can easily master it as it requires no real training.

5. Being a personal assistant:

woman

There are a lot of people who will pay a handsome salary to get all of their work organized and are looking for a personal assistant. Although this does require you to be available at times your employer demands so it may put a strain on your job; however, once you get around the timings, it is an easy to do a job that requires no investment and pays well. If you feel like this isn’t the job for you, then its alternative is available which is to become an online assistant.

6. Social media consultant:

With almost one billion people using popular social media today, businesses are looking to promote their products/service on social media. You can provide this service for them, and all you’ll have to do is to search for the right people/pages online and market the products to them. This is a risk-free business that required almost no investment since you can do this even from the comfort of your phone.

Read More :

1. Make Your Business Popular Online

2. Building A Brand For Your Small Business

3. Top 5 Types Of Startup Business Loans

Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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How to Plan For a Successful Trade Show Exhibits?

Participating in a trade show can be time-consuming, tiring, and it uses a tremendous amount of money. However, if you plan for it, you can maximize your investment returns. First, you have to invest in a perfectly designed booth. To get that, you have to contract a reliable booth vendor. An experienced booth vendor will create a cabin based on your requirements and observe the theme of the trade show exhibits that you plan to attend. The good thing is, the booth is the first thing that attracts clients, but once it does, you should know how to maintain a conversation and provide substantial information about the products. Afterward, they will decide whether to buy it or not. So, if the products are of good quality and you've proved their worth, you'll have customers. What to do to Have Successful Trade Show Exhibits? Typically, your vendor will encourage you to rent or buy a booth that mimics the theme of trade show exhibits. However, some things remain constants. Research Before attending trade show exhibits, research the theme, the number of people who will attend, and the objective of the trade show. For example, if you visit a trade show where companies are selling the same products like yours, it will be competitive, and your ROI will be undermined. Also, if the trade show is known to attract a few people, the chances are that you won't get enough leads for ROI are quite high. Therefore, conduct intensive research and evaluate every possible outcome. You should research on every trade show before attending. Set participation goals After determining whether the trade show exhibits are worth attending, ask yourself what your goals are. Do you want to launch a product or promote an existing item? You can have several purposes, but you have to ensure that these goals are achievable and that they will give you a good ROI. Budget How much are you willing to spend on trade show exhibits? First, you have to consider the rent of the space that you'll be hiring and secondly, the price of a display booth. Fortunately, you can either rent or buy a display booth. So, consider the factors affecting the price of the booth and rent one that is within your budget. Nonetheless, if you compromise on the quality of the booth design, you risk losing the investment. Remember to book your exhibit space on time. Focus on the audience Who is the target audience? When preparing for trade show exhibits, you need to consider the people who will attend. If government officials attend the trade show, or CEO and managers, you have to prepare your presentation and products to attract them. Remember, these people run other businesses too, and they know what they want. So, unless your product passes their threshold, your presentation will not be worth it. So, ensure you meet the consumers' needs. Advertise Inform potential clients that you'll be participating in a specific trade show and give them a reason to attend. For example, if you're launching a new product, inform them that you'll be offering free samples. Conclusion Implement doable methods that will lead to business growth, including the trade show. However, ensure that the trade show is worth attending by determining whether you'll have enough ROI. Read Also: Execute The Perfect Expo With This Trade Show Checklist Tips For Creating Effective Portable Trade Show Displays

Why Your Business Needs Call Center Tracking

Customer service is the cornerstone of your business's success. It's also the key to keeping the customers you already have. In fact, companies with a thought-out customer service approach enjoy a 92% retention rate. If the bulk of your customer service efforts is in the hands of a call center, it's important you make this operation as efficient as possible. To do this, you need detailed information about what's going on behind the scenes. Utilizing call center tracking is the best way to get this data. Implementing call center tracking software will help show you where improvements need to be made. The result is a better customer experience. Monitoring your call center can help your business in a number of ways. Read on to learn more! 1. Understand Your Revenue and ROI: Knowing what products and services are driving revenue is important for any business. It allows you to make decisions about future products and improve ones that aren't doing so well. By tracking your call center, you know what customers are more excited about and what they find troublesome about your products. You'll be able to see the source of each call to get a better grasp on exactly where most of your profit is coming from. This data will also help you understand what your return on investment is for the marketing campaigns you're creating for each product. Where your calls are coming from clues you into which advertising channels are working. Tracking call center metrics makes all this very easy. Detailed reports from your tracking software will lay all this out in an easy-to-read manner. 2. Measure Adherence to Scheduling: A huge benefit of tracking your call center is a better understanding of the KPI (key performance indicator) of your customer service reps. This information will help you streamline your call center scheduling. You may be asking yourself how this works. Well, you can monitor inbound and outbound calls, the average length of calls, and the location of inbound callers. All this helps you improve in-house scheduling and reduce the chance of calls going unattended. You'll also be able to measure the productivity of each rep. You'll then know if your call center isn't robust enough and if certain employees are causing bottlenecks. All this information helps call center managers create a more well-oiled, effective operation. It also greatly helps with optimal shift scheduling so customers are more efficiently serviced. 3. Refine Marketing Strategies: Detailed call monitoring provides invaluable information about your customers you wouldn't otherwise have access to. Such information includes customer loyalty, purchasing trends, and who your potential customers are. Think of call center tracking as a way of becoming more familiar with your target audience. All this information allows you to make changes and strategize future marketing efforts. It can also give you some insight into which strategies you should do away with. Your marketing team can use this information to focus their efforts on the right channels. They'll also be able to better understand the strengths of your products and services and emphasize them in advertising campaigns. All this will have a positive effect on your overall revenue and help maximize your ROI. 4. Recording and Routing Calls: Call center tracking software provides the capability to record calls between your reps and customers. This feature can help in a number of ways. First, you'll be able to get a firsthand account of what problems customers are having with your products and services. You'll also be able to tell which products consumers like the best and what elements of your product are the most desirable. This data will allow you to refine your product and make more informed decisions on future designs. Recording calls will also help you determine which employees need further training and which have the potential for promotion. Tracking software will also help in figuring out kinks in your routing procedures. This is important, as misrouted customer service calls can lead to a loss of existing customers. 5. Improve Your Quality of Service: One of the biggest benefits of tracking calls is the effect it can have on the quality of customer service you're providing. You'll be able to pinpoint exactly where setbacks occur in your current operation and remediate them. Find out how easy it is for callers to reach a solution to their problems. If the process is difficult, you'll need to take means to streamline it. You can also see what the average wait time is for callers. If you notice customers abandoning the call because of long delays, you know you have a problem. This is where you can use caller id reputation to filter out the callers whom you must prioritize to make the most out of the conversion. Are you seeing missed calls or routing issues? You may need to beef up your staff or reposition certain employees. You may even find that a virtual receptionist service would benefit your operation. Whatever solution is right for you, call tracking services can expose areas that need improvement. 6. Cut Down on Employee Turnover: A high turnover rate causes a loss of time and money. When you track your call center, you're able to fully understand the skill level of each employee and the overall morale of your department. You can then make changes to your training protocol. It also provides an opportunity to appropriately place employees in roles more suited to their strengths. All of this makes for a much healthier work environment. It also creates a more rewarding experience for each employee. These things are key to keeping your turnover rates low. Boost Your Customer Service with Call Center Tracking: Knowing what's working and what's not is the first step in creating the best possible customer experience for your business. Implementing call center tracking can allow you to undercover information about your operation so you can make educated improvements. Call tracking software has come a long way and now offers many features that can help you streamline your customer service process. Look into implementing it for your call center and let your customer experience evolve. For more articles that will expand your knowledge in the business world, check out our blog. Read Also: Top 4 Creative Team Building Ideas For A Call Center Industry This 2016

Choosing Open Office Space vs Cubicle Office Space

The right environment is essential for the growth of a business and for the employees to be result-driven. A healthy environment can either boost your productivity or hamper it. While deciding on office space, I am sure you would be going through different factors in mind. Here I am discussing one of the most important factors which are usually ignored by the people. While trying to decide between an open office space and cubicle office space, wither people will choose the one which is cheaper or they will opt for a cubicle just because they are more habitual to it. The importance of office layout depends on the type of work a person has to do. If somebody is into developing and he or she does a lot of coding, then a cubicle would be more suitable for them as they would be able to concentrate more in a cubicle than an open working space. And if a person writes blogs or does creative writing, then they would not mind an open environment. And they can even draw inspiration from their surroundings. While both the options are not bad if you’re co-working space is good, but both of them have some pros and cons. Let’s discuss some points here. Choosing Open Office Space vs Cubicle Office Space: Open Office Plan: Open office plan also called a modern layout, which is most commonly seen in a Google office, is an office layout where you do not have any kind of cubicles and environment is open and casual. These days more and more people are considering these types of offices because it makes their company look cool and employees also consider it these days more than a corporate environment. But you have to understand not all types of employees like this type of environment, so it is very important for you to analyze your team first and then decide. Cubicle office plan: Cubicle office space is often seen at corporate offices and banks. The cubicle option in a co-working facility is often an expensive option, so you need to consider what do you need a cubicle or not. Type of people: Suppose if you have introverts in your team, then they wouldn’t really be comfortable with working in an open environment, as they enjoy being in themselves and more people's presence can make them uncomfortable, but if the majority of people are extrovert than the case would be vice versa. Idea generation: An open office plan encourages communication which is great for idea generation and brainstorming. So it is great for idea generation as people can bounce off their ideas off of each other and can come up with great concepts and collaboration ideas. Lack of Privacy: An open office plan can severely affect a person’s privacy which can interfere with the employee's mind and they cannot express openly, as they fear that other people might be judging them. It also not great for someone who has to do a lot of client interaction and through calls and Skype, it would disturb other people also and the person who is on the call also. A Common Solution: This would be the best option for any kind of business, as a person who loves to work in a cubicle can work there and if a person wants to work in an open space, they can do that. Employees can even switch places so that they can get a break from spending their whole day at the same place. The open office space can also be used the time to time as an accelerator for idea generation. If you are a new business owner: If it's your first time managing a business and trying to expand it most efficiently, you may find that there are many tips and tricks that you can keep in mind while you are growing. With office rental options in Miami, you can ensure that you can find a working space where you can constantly find new clients, allowing you to help your business develop. It's not easy to have all of the answers at the beginning, but having an office where you can quietly get down to work with your employees is one of the most important factors to a successful business. Read More: Making Your Office Safer For Workers Top Expert Tips For A Stunning Condo Interior! Why Your Business Should Care About Social Responsibility

Six Low-Investment Business Ideas You Can Start Today

1. Offering services:

2. Online Freelancing:

3. Marketing Services:

4. Online Product Marketer/Seller:

5. Being a personal assistant:

6. Social media consultant:

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Why Lead Generation Is Essential For Business?

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Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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Related

How to Plan For a Successful Trade Show Exhibits?

Why Your Business Needs Call Center Tracking

Choosing Open Office Space vs Cubicle Office Space

Six Low-Investment Business Ideas You Can Start Today

1. Offering services:

2. Online Freelancing:

3. Marketing Services:

4. Online Product Marketer/Seller:

5. Being a personal assistant:

6. Social media consultant:

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Yacht Vat leasing tax in Malta

Why Lead Generation Is Essential For Business?

Tags

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

Leave a Reply Cancel reply

Popular

Follow Us

Recent

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