Going into business for yourself is a financial risk no matterwhat. You are likely giving up a steady paycheck somewhere else for ashot at freedom in the workplace and the potential for greater pay.However, investing in your business is a different financial hurdle.
Inthis post, you’ll learn about the top 5 startup ideas that allow you topurse your dreams without putting your life savings on the line. You can launch each of these potential startups for less than $10,000.
This is a wide-open concept. The field you decide to offerconsulting services in can range from retail supply chains to cloudcomputing to business management. In a consulting business, the productyou are offering is the skills and expertise you’ve developed throughyears of work in a particular industry. You aren’t purchasing suppliesto manufacture a product or equipment to support a service-basedbusiness.
All you need is a decent home office, a business phone, and acomputer. Most of your money should be spent on marketing. You’ll needto take time to get your name out there and build your brand.
The field of eCommerce is a rapidly expanding industry that has the potential to free you from the 9-5 grind in a cubicle farm. Accordingto Forrester Research, eCommerce was worth $36.8 billion in 2013, andthose numbers will continue rising. The basics of an eCommerce startup include a PayPal button for shoppers to make easy purchases, aWordPress site to display your products, and a Google AdWords account to promote your products and generate additional revenue. You can set all of this up for under$1,000. The rest of your money should be spent on marketing and customer acquisition.
If you’re already into photography as a hobby, you’ve probably gotthe equipment costs covered for this startup. Even if you don’t, you can purchase a good camera for roughly $3,500, lenses for $2,000, and anadditional $4,000 to cover the costs of setting up a basic studio(lights, flash, etc.) These purchases will set you up initially to workas a press, wedding, and event photographer. As your business grows, you can invest more in your studio and equipment to shoot small-scalefashion spreads, baby and family portraits, and editorial photography.
Want to keep in cheaper? If you fancy the outdoors, you can save on the costs of a studio, lighting, and flashes by capturing thebreathtaking scenery and natural environments you already enjoy spending time in.
Web & Software Development
The astronomical growth of the Internet, eCommerce, mobile tech,and cloud computing is enabling more IT professionals to work from homewith ease. Much like consulting, web and software developers are selling skills and expertise, not necessarily a product. In order to start your own home-based business, you need a powerful computer andsmall-business software. A good computer can be purchased for under$2,000, and small-business software is available with monthly licensefees, allowing you to spread out the initial investment.
Last but not least, is the field of wedding planning. The mostjoyous day of one’s life is also the most stressful day for many. If you have a passion for love and marriage, and enjoy helping people maketheir big day a breeze, wedding planning is a great startup with littleinvestment required.
You aren’t selling a product, but rather yourskills in event management and coordination. It will cost you a fewthousand dollars to market your business, develop a respectable website, and print some business cards. Otherwise, there are virtually no othercosts involved.
With the exception of opening your own online retailer, each ofthese startup ideas relies upon your skills and expertise. If you havethe knowledge, all you need is $10,000 for marketing and basicequipment, and you’ll be ready to conquer the market.