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+--- Thread: How do people open a business with very little money to invest? (/thread-56449.html)
How do people open a business with very little money to invest? - David - 01-21-2013 06:49 PM
Also what is a good business to enter in the bay area? (California) How helpfull is a college degree when opening a business?
- henry - 01-21-2013 06:57 PM
You are the only one that can figure that out as everyone’s situation is unique. Find an unmet need that is also something you like to do. Complete a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis http://www.score.org/template_gallery.html for instructions on how to write a business plan and sample business plans.
- Mike - 01-21-2013 06:57 PM
hello David, online marketing is a pretty good way start things out. Its low investment and no inventory, If you can find the right products or services to sell then its great way to go. I have been doing fine on my own since I got laid off from my seasonal job back in August. Needed to find a way to be able to get income coming in. If I may make a suggestion, to go here and check this site out http://mcaamricanmotorclub.com/myblog/
if you have any questions what so ever please feel free to contact me, thank shave a great day!
- shockman - 01-21-2013 06:57 PM
There are just some business that don't require much physical stuff to start. To name a few:
-Mowing
-Chauffeuring (small-scale)
-Writing
-Translating
-Acting
- Steve - 01-21-2013 06:57 PM
If you need a steady source of income to meet your financial obligations start the business as a part-time venture. Don't quit the day job until the part-time business has a steady flow of customers and profits. You can start your business for much less money if you start the business from home where you don't have to foot the bill for office space and utilities for an out-of-the-home office. Try to live frugally and invest the savings in your business. if you have good credit - is the easiest way to get money to start a business. Equipment, suppliers, advertising and postage (for mailings) can all be purchased with a credit card. Family and friends are a frequent source of funding for small businesses. But remember, you have to live with your family for a long time - and you probably want to stay friends with your friends. So don't borrow from unless you have a business plan and have done enough research to know there is a market for what you want to sell. Another way of gaining income for your business is through crowd sourcing. Many people use this source in crowd sourcing sites and you can try that as well.
As for the part about your education, all I can say is it all about your destiny. Your education will assist you in making decisions and knowledge about the laws and etc. Your clever mind can bring you to a golden seat. It’s all about the way you use your mind to handle obstacles over come pressurized situations and have the WILL to succeed in your business.
The most profitable businesses (as stated in web )are,
1.Accounting Services
2.Legal Services
3.Dental Services
4.Specialized Design Services
5."Other" Health Practitioners
However, you will need to do some market research to find out if there is demand for the products or services you intend to supply. Market research involves finding answers to questions like:
•Is there a market for my product?
•Am I going to be able to get into this market or are there already too many other players?
•Who are my competitors? What do they do and what can I do better or differently?
•What does my target market think of my product or services?
•How much will they pay for it?
•What is the best way to promote my product or service? Social media marketing would be an ideal way of promoting your business.