In this post I want to present you with 6 easy business ideas you can start with less than $100.
If you want to start a business but are not really sure where to begin, you probably fall into one of the following two categories.
- You don’t have any idea of what business you should build , or
- You got plenty ideas but don’t know which one to choose.
But the problem is that if you fall into one of them, you’re basically stuck.
You are not taking action but have effectively given up before you even started.
Because if you don’t have any idea of what business you want to start, you’re probably wandering around thinking that the brilliant idea will hit you at some point in your life. However that’s not how it works.
Thomas Edison said that
That basically means – and I agree totally with good old Thomas on this one – that ideas are grossly overrated.
I’ve seen what I thought were great ideas falling to pieces because they got implemented poorly. Heck I’ve had several ideas I found fantastic when I heard of them, believing that at least a couple of them would be able to conquer a small country. However after the dust has settled the idea had yet to become the success it was destined for.
On the other hand though, I’ve seen super basic ideas become huge successes because of hard work and the right people working on it.
Ideas are not worth much on their own
As someone getting at least 10 “fantastic ideas” per day, I’ve gotten to a point where I don’t associate too much value with the idea itself anymore, but are much more concerned about the plan to make it happen.
Actually what I typically teach my private coaching clients is that they should rather model something that is already working, something that is already generating a cash-flow, rather than coming up with this unique idea that no one has ever thought of before.
Remember if you go into a new market you need to do the most difficult task in marketing: You need to change people’s behavior!
Not an easy task unless you have a couple of million dollars lying around on a bank account somewhere.
Easy business ideas are about modeling what is already working
This is why I wanted to present you with 6 easy business ideas (or models) for building a lifestyle business that are already generating money for other people right now, to take the pain out of “finding the right idea” for you.
So hopefully you can progress beyond the “I need an idea” phase and go directly to building the business.
All the lifestyle business ideas can be run from anywhere on the planet where you have an internet connection, so if you want to travel or simply be in more control of your time and life, and then this is for you.
Instead of having a job, why now own a job (also checkout Robert Kiyosaki’s Cashflow Quadrant). I’ve written about my method for finding high paying jobs as an IT consultant however it’s certainly also possible to create a profile on sites such as elance.com, odesk.com and freelancer.com.
The good thing about this model is that it doesn’t require you to setup your own website or anything. Costs are incredible low.
While you are still trading your time for money, you will be able to do that from a hammock on a small island in Southeast Asia 🙂
Depending on your skill level, you should be able to make $25-$125 per hour.
In affiliate marketing you are promoting other people’s (or companies’) products and getting a commission for each sale.
The force of being an affiliate marketer is that you don’t have spent time developing your own product. Also you are no longer trading your time for money meaning that your income level can soar through the sky.
However a word of warning: Because of the low barrier of entry into this model the competition is often fierce, and it can be difficult to find the right products to promote.
Also since you are not making much money on each sale, you are typically betting on good rankings in the search engine in order to attract organic traffic to your website, and with all the recent changes made by Google, you can have your hands full with adjusting your search engine optimization strategies accordingly.
I write a bit about it in my post What No One is Telling You About Niche Sites that I recommend you check out!
You do need to build a website, however today you can get cheap $5 per month hosting, install WordPress in five minutes and purchase a premium theme costing you a $20-$50 (you can check out How to Get a $5000 Website for $50 for details)
I’ve seen affiliate marketers making just $100 per month, but I also personally know affiliate marketers doing well over six-figures per year.
Drop shipping e-commerce
If you’re passionate about pushing physical products and considering an e-commerce website, but you are concerned about the costs of getting a site designed, keeping a stock of products, the time you need to spend to package and ship your products effectively tying you to a physical location, then drop shipping might be something for you.
When running a drop shipping e-commerce site, you will sell the products, but not have your own stock. Instead you have a drop shipping agreement typically with a distributor or the manufacturer of the goods. They will then send out the orders directly to your customers.
That means that you are in charge of doing marketing, as well as customer support and a bit of order handling (however much of this can be automated).
While it is a bit more difficult to create an e-commerce website than it is to create a simple website, you can still use WordPress to create your site. Actually that is what I recommend if you’re not too technical.
When it comes to earnings, the sky is really the limit in this setup as you’re not selling your time for money!
Want to help people in whatever field you’re in? Why not sell coaching or mentoring.
You can either do by the hour consultations or coaching programs like I do.
I actually paid a coach $8000 for 8 weeks and she didn’t even have her own website at the time! So it does not have to be that complicated to get started with.
If you’re working one on one with people you are of course effectively trading your time for money, however it can still be a very good business as you will probably raise your prices as you get more customers and you help your clients get more and better results!
One on one coaching can earn you anywhere from $50 up to several thousand dollars per hour!
Coaching programs are not directly depending on your time, and I’ve seen people doing 7 figures in this space!
Write and promote books
Do you have a book in you?
I certainly don’t see myself as an author; however I wanted to write one!
It’s of course time-consuming to write it; however you can now publish your own book for pretty much nothing!
My book is available on Amazon in both a printed version and a Kindle version.
I’ve used CreateSpace.com to self-publish my book. It was an easy process although I did pay someone to edit it and designing the cover.
So you don’t even need to setup your own website in order to be a published author.
I know several people who write shorter books and publish them on the Kindle platform for pretty much passive income (once they are there). This model includes that you do your keyword research and analyze what is currently selling, however you can also go the traditional route of simply writing the book you’re passionate about and then marketing the shit out of it.
With books you’re not trading your time for money, however notice that it’s hard to become rich from simply doing one book (unless you’re really good or have an existing – large – audience), so most often I would recommend having some kind of back-end offer and treat your book as a marketing tool.
Writing a book is also being an “information marketer”, however I wanted to split the two up.
You could create a course about some expert knowledge you have and sell that.
Now before you get started and tell me that you’re not an expert in anything, let me tell you that you probably know more about a thing or two than most people does.
Expertise is relative! You will always be an expert in someone’s eyes.
And if you can help some people in the space you’re in, why not do that and turn it into a business at the same time.
Again I recommend that you use WordPress for building a membership site. If you want to get a detailed description on how this can be done, you should checkout my How to Setup a Professional Membership Site.
What’s your lifestyle business model?!
If you want one last tip, you probably want to see how I evaluate lifestyle businesses (hint: it’s a model from my book :)).
But do you have any lifestyle business models or ideas you want to share?
Any comments on any of the models I’ve listed here?
Let me know in the comments – and oh, if you enjoyed this post I would really appreciate it if you shared it on your favorite social network 😉 THANKS!