Looking to start a business, under $10,000.

Connie975Connie975 Posts: 14subscriber Bronze Level Member
Hi Guys, 

I am looking to start a business under $10,000. have suggestions. 

Comments

  • Tuah BaoTuah Bao Posts: 112subscriber Silver Level Member
    Hi Connie,

    You can start some business even just $100. However, it is always good to have a larger budget. It is also a good idea to align your business type with your interest, so that you have the passion to stay or move on.

    Some common businesses:
    1) Dropshipping
    2) Affiliate marketing
    3) Private/White Label (use you own brand)
    4) Web Hosting
    5) Freelance services (writing, voice over, web design..etc)
    6) Handmade craft
    7) Consultant or advisor
    8) Author (hire ghostwrite and publish your own ebooks)
    9) Dating site
    10) Travel or hotel site
    11) Online training and courses

    Some do not require much start up cost because you may just need to register/pay for a domain name and subscribe to web hosting plan. The merchant will basically take care of the rest (customer support, delivery, process payment, product return...etc). You can use the remaining fund to build a professional/beautiful website and marketing campaigns. These are important contact points with your customers.

    Good Luck!
    Tuah Bao
    Accountant & Marketing Consultant
    Free marketing idea & advice at https://peopleaffiliate.com/services
    Free web hosting for life at https://peoplewebhost.com/
  • SkyrocketClientsSkyrocketClients Posts: 10subscriber Bronze Level Member
    Don't listen to anyone that says you can start under $100. How is that possible? In that case it's not a business, it's plain freelancing which I don't consider as business at all. You need a website which costs money to set up, even using just premium templates, not bespoke ones (don't use free ones for sure). The best way to go is dropshipping+facebook ads, that would require $1-2K to test different products and once you found your winner, scale it up with the rest of your money.
  • Tuah BaoTuah Bao Posts: 112subscriber Silver Level Member
    edited January 6
    It depends on how someone interprets 'business'. I would personally interpret it as "Anything you do that makes PROFIT/MONEY is a good BUSINESS." Therefore, it doesn't mean one should spend hundreds or thousands of dollars on startup to qualify as a 'business'. There are many free tools available over the internet which everyone can use, try to keep your cost to a minimal.

    As I have mentioned earlier, it is good to have a larger budget. However, for those who have very limited budget (Please take into account that not everyone has a budget of $1-$2K to start a business), can try the methods I suggested earlier. 

    It is good to have extra funds to spend on ads or marketing, else you can choose to do it yourself such as guest posting, forum, Youtube...etc.

    I may not be 100% right, but it is my practice to ensure my client save the most cost. Hope that helps.
    Tuah Bao
    Accountant & Marketing Consultant
    Free marketing idea & advice at https://peopleaffiliate.com/services
    Free web hosting for life at https://peoplewebhost.com/
  • Tuah BaoTuah Bao Posts: 112subscriber Silver Level Member
    It depends on how one interprets a business is. I would personally think that any activity that leads to profit is a good business. I don't think one should spend hundreds or thousands of dollars on startup to qualify as a business. 

    There are many free tools over the internet that everyone could use to keep the operational cost to minimal. Please also take into account that not everyone has $1K-$2K to start a business. 

    Having more budget is always in everyone's wish list. As I have mentioned earlier, if you have extra fund, you can spend it on marketing or ads (or whatever you deem appropriate), else you can do it yourself (such as guest posting, forum, Youtube..etc)

    Nowadays, web hosting companies are giving deep discount to attract new customers. Therefore, you can take this opportunity. While, most web hosting companies do provide beautiful templates or website builder for free or as part of the package.

    I may not be 100% correct all the time, but it is my practice to advice my clients to spend the least and gain the most. Hope that helps.
    Tuah Bao
    Accountant & Marketing Consultant
    Free marketing idea & advice at https://peopleaffiliate.com/services
    Free web hosting for life at https://peoplewebhost.com/
  • cristianicristiani San Diego, CAPosts: 5subscriber Member
    Hi @Connie975! I've seen businesses built from the ground up with less than ideal funding. My recommendation is to be bold with the idea, fearless in the execution yet cautious with how you burn your cash resources. Also, are you planning on a web-based business, making a product, services?
  • johnwhitfield1712johnwhitfield1712 USAPosts: 3subscriber Member
    Hmm, there are a lot of types of business. What kind of business would you like to do?
    For a start I advise you to decide what exactly you want to do. The simplest thing is to open an online store and with the help of advertising in social networks to start selling your product.
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