Businesses can be expensive to start, but there are also plenty of inexpensive choices for aspiring entrepreneurs.
Millions of Americans aspire to be entrepreneurs because of the allure of the lifestyle, the possibility of creating wealth, the promise of a potential legacy, and the chance to call your own shots. The problem is, starting a business is expensive, and not everyone has the chance to raise the money necessary to get started. On top of that, your primary means of fundraising (through angel investors, venture capitalists, and partners) could strip of you of at least some of your autonomy.
Fortunately, there are plenty of business models that can be practiced with only a minimal amount of cash--sometimes for only a few hundred dollars.
These are some of the most accessible examples:
· Home services. Almost anything you do for someone else's home could be the main focus of your business, from cleaning to household repairs, and anything in between. The only startup costs you'll face are paying for your initial supplies and establishing a brand for yourself.
· Arts and crafts. If you know how to make a specific craft, or if you make art in your spare time, you could also establish a formal arts or crafts business without investing much extra in your hobby.
· Teaching and consulting. If you have knowledge that you can share with other people, they'll pay you for the opportunity--and you won't have to pay much to establish your initial infrastructure to do it. Tutoring, teaching, and consulting are all strong possibilities.
· Errands. You could also create a business running some types of errands for people, whether it's picking up groceries or walking dogs. Again, there's practically no startup cost because you're relying on services you provide.
· Blogging. You can also start blogging for free by creating a free website. Once you have enough readers, you can monetize your traffic through advertising or affiliate links.
The idea here is to pick a business that allows you to start building a revenue stream before you inject much cash in. Once you get started, you'll want to pull some of your revenue to reinvest in your business, promoting it and eventually growing it so you can establish a revenue stream that can sustain you indefinitely.