10 Ways to Start a Business No Investment Required
It was 5 years ago. I was trucking away at my office job counting the hours until break, then lunch, then going home. It dawned on me! I want to start my own business. I was pretty unhappy in that job and I wanted to set out and become an entrepreneur.
Did I do it?
Heck yeah! I found success with running a profitable online store. Then, found my way into blogging, teaching, and helping others make money online and achieve their dream of becoming an entrepreneur.
One obstacle facing many are startup costs.
This certainly was the case for me. I thought it was gonna cost me a fortune to start my own biz. I was wrong! Read on to learn 10 ways to start a business no investment required!
1.) Get help from family and friends
This is a no brainer. Don’t feel weird about asking. Take investment from family and friends. You can get a loan, make them partners, give out equity, there’s a bunch of different ways to do this. This is such a good option way better than getting a bank loan or liquidating your personal assets.
2.) Start a service-based business
Service-based businesses (most of them) can have zero start up costs. Think about it. Here are some costs you likely will NOT have:
- Warehouse space
- Salaries of employees
- Packaging and shipping materials
Some examples of no investment service businesses:
- Virtual assistant
- Social media manager
3.) Social Media Influencer
This is a real thing and influencers are earning six and seven figures annually doing this! Do you have a heck of a lot of social media followers. You can work with brands and get paid to sponsor companies. This means, a company will pay you to talk about their product, make a video, host a giveaway, host an event, etc.
If you’re interested, start with Instagram and YouTube. These money-making platforms are visual and the perfect networks to start growing your following.
You can pick a niche like vegan, homeschooling, high fashion, etc. Then, start regularly posting, get active, and grow your fanbase. When you start to become popular you will notice that brands will come to you! Prior to that, you can definitely reach out to brands.
4.) Become a Sitter
Babysitter, dogsitter, sitting with the elderly, etc. Starting a sitter business from home can be done for free! You can make announcements on social media, put an ad on Craiglist, etc.
5.) Teach online courses
Sign up for Udemy and write courses. You can actually earn passive income doing this. I created a handful of courses over a year ago and still receive a check from Udemy for new enrolllments!
You can set up a free store and dropship products. You only purchase inventory when a customer buys!
Example: You sell baby shoes. You list your products for sale in your store. A customer buys 2 pairs of shoes. You get $40 deposited into your PayPal account. Your dropshipper charges $5/pair or $10 total for that order. You visit their online store, buy 2 pairs at $10 total, ship to the customer and pocket the difference ($30).
I did this for YEARS! And I made a ton of money (thousands per month, part time). Give it a try!
This is similar to dropshipping but a little different. You announce to your network (email list, social media followers, fans, etc.) that you will be selling a lot of scarves, for example. You presell the scarves at $10 each and once you reach $100 in sales, you then buy the scarves, ship to your location and fulfill orders yourself.
I had a friend who did this on Instagram with around 30K followers. She would run sales weekly and sell hundreds of items each week!
Instead of tackling #1, you can set up a campaign on a crowdfunding platforms like IndieGoGo or Kickstarter. To make your campaign a huge success, consider hiring a campaign manager. You can find an experienced one on Upwork and pay them based on the success of the campaign, at the conclusion of your campaign. Make sense?
9.) Become an Affiliate Marketer
Sign up to affilaite programs, persuade your network to buy and get paid commission on each sale. You can earn $10, $100, or $1,000+ per sale!
10.) Dog walking
Exercising pets is a startup business than can become very lucrative. Making flyers and posting them in your neighborhood, putting ads in Craiglist, or showcasing on your social networks are examples of putting the word out.
My Favorite Blogging Resources
The super tool for getting massive traffic from Pinterest. I’ve been a paid annual member for years. They are super responsive and have a ton of built in tools to help your blog, like tribes, analytics, etc.
Thinking about starting a blog? Going self-hosted is the way to go and Bluehost is who I recommend for hosting. Plans starting at just $2.95/month and they offer cool extras like domain included, domain email, marketing offers, etc.
If you’ve been blogging for a while OR are new to blogging and having trouble making good income, check out this course. Learn everything you need to know to start earning big bucks with blog sponsorships. Work with big brands, cool companies, get free stuff, book free travel, etc. I have done it all! I teach the exact strategies that helped me book $1,500+ per week in sponsorship income on a brand new blog (less than 2 months old).