The internet has made it easier than ever for everyone to start their own business nowadays. As a matter of fact, according to a recent census by the Bureau of Labor Statistics, freelancers now make up more than 15% of the workforce compared to only about 7% in 1995. The Bureau also expect this number to balloon to 20% by 2020. But with so many opportunities out there, which are the best for new entrepreneurs with limited budgets?
Are you of the altruistic type and would like to inspire people around you for a living? Well, if that’s the case, a career as a career coach might be perfect for you. Starting a private coaching practice is not as complicated as it may seem and might be a perfect way to help others while making a decent living.
As a career coach, you’ll be able to help people of all age groups and teach them life skills such as building a nice resume, how to conduct themselves in an interview or how to find their passion and true career path. A career as a life coach can be extremely rewarding and is perfect for any self-professed empath who would love me to make a difference in the world.
Online Retail Consultant
Consulting is one of the most sought after fields by people who left their corporate positions and are trying to transfer their expertise to the business world. Online retail consultants work with online retailers who want to improve their results with their online stores.
Many people own online stores these days or sell their wares through sites like Amazon, eBay or Etsy. As an online retail consultant, you will help online retailers organize their copy, work on their templates to increase conversions and also provide advice on how to choose proper pictures for their products among other things. To be a successful online retail consultant, though, you will need significant knowledge of these different platforms and have some kind of experience trading through them.
Many people have decided to jump on the blogging bandwagon in the last few years, for a variety of reasons. First, blogging is one of the easiest ways to profit from your passion. Second, there are tons of great unexploited niches that you can start a blog on and starting a blog is extremely easy and low cost nowadays. Anyone can start their very own blog for under 12$, hosting and domain name included.
However, don’t assume that monetizing a blog is easy. You may have to explore many options such as creating your own product, a newsletter or using your blog as a conduit for other endeavors such as consulting or speaking arrangements if you want to make a profit.
Starting an Online Store
Building an online store is another low-cost business idea that anybody can start. And the good news is that you don’t need to invest thousands of dollars in inventory to get started. All you need is a great dropshipping supplier that will send the items directly to your customers, a payment processor, images and a nice website to get started. Even having a website is optional as you can use a dropshipper to sell items on eBay and Amazon. Alternatively, if you have a particular skill, you could sell your own items or refurbish old items and sell them at a premium.
According to the Bureau of Labor Statistics, the event planning business is booming at the moment. As a matter of fact, the event, meeting and conference planning business is set to grow by 44% from 2010 to 2020. Everyone is in need of event planners, may it be young couples getting married, organizations holding fundraisers or networking events, or promoters organizing special events or concerts. As an event planner, you will need to know how it takes to deal with your clients’ demands, have great organizational and problem-solving skills and great stress management capabilities if you want to make it.
All these business opportunities are available for those who are ready to do the extra legwork and do what it takes to be a successful entrepreneur. Furthermore, most of these business ideas can be started on a few dollars and show great promise for the future. So, if you’re serious about becoming an entrepreneur, make sure you consider one of these options and see if they are truly the right one for you.