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3 Low-Cost Businesses You Can Start Right Now- Valutrics

Is your entrepreneurial bug starting to grow? There’s good news and bad news. Starting with the bad, if left untreated, that ‘bug’ has unquenchable symptoms — meaning, you’ll always have an insatiable appetite to start that dream business. But, when deciding on which small business idea is right for you, there are a lot of unknowns, especially when it comes to budgeting and fiscal responsibility. I totally empathize, too — it’s a big decision and it comes with a lot of unanswered questions. And the elephant in the room is often, ‘how much money will this actually take?’. The good news? There are low-cost businesses that you can start right now, making success much closer than you think. Each of these are budget-conscious and perfect for a beginner starting out or serial entrepreneur looking to get back in the game.

#1 – Get your app idea built (or buy it)

Don’t be intimidated Don’t want to take the time to do any of that? No problem. Check out marketplaces like SellMyApp, which essentially provide a finished app product that you can purchase the rights to and customize (you’ll still need a developer to help refine this). That foundation can save thousands and hundreds of hours, all while on a budget.

Pro Tip: When listing any ‘job post’, you’ll be able to specify whether this is a fixed project cost (i.e., $1,000 total budget) or hourly (i.e., $20/hour). There’s definitely a debate on whether fixed or hourly yields better ‘bang for your buck’, but I personally suggest going the hourly route (you can find quality devs for $12-$30/hour). The issue with fixed cost projects is that it’s driven Consulting isn’t a big bad word that has a prerequisite of decades of specialized experience. Start to mull over where you can add value to prospective clients (digital, content, sales, biz dev, marketing, etc.), but once you know the general field, I always recommend purchasing a site template from Themeforest. These are ridiculously affordable (no more than $30-$60) and all you need to do is personalize the web copy and assets (aka, images) and dramatically increase your ‘speed to market’. Once you know your company name and buy your domain, all you have to do is upload the template (your new developer friend via Upwork/Freelancer can help you with this in less than an hour). Then, voilà, you can add your new venture to your LinkedIn profile and start marketing your services.

Pro Tip: Consider a content management system (CMS) like WordPress and purchase a site template specific for that platform — that way, you can more easily manipulate the content and not be reliant on any development support for updates.

#3 – Become a ‘Creator’

Influencers and micro-influencers are all the buzz these days, many often being referred to as ‘creators’, commanding hundreds of thousands (to millions) of fans across various social channels. Do you like to write? Start self-publishing on LinkedIn. Do you have a hobPro Tip: There’s a ridiculous amount of content and inspiration here. I’m a huge fan of Tubular Labs and their ‘state of the influencer’ industry insights — take a look at some ‘creators’ in a category you’re considering and start following their every move. Study them like you’ve never studied before (semi-kidding). The content bar is exceptionally high, but at the end of the day, you just need to commit to something that works for you (i.e., releasing something once a week, or bi-weekly). Also consider creating your first content calendar, too — there are some great templates out there to help you get started.

Overall, time is your most important valuable commodity, but you should find solace in knowing that these three endeavors are truly ‘low-cost’. When in doubt and you feel stuck, Google should be your best friend, no matter the question (Google doesn’t judge). There are endless resources at your fingertips that can arm you with confidence to continue pushing forward, but don’t be afraid to ask questions (you can ask me, too). Start moving and never look back — it’s an unbelievable journey.