Want to start a business on the side without a huge financial investment? These types of businesses can be lucrative in the long term without demanding much money upfront.
It could be a brilliant idea to dabble in entrepreneurship in your free time. It not only creates a potential long-term income stream but also fills your time with something you enjoy. People are increasingly starting to research the possibilities of starting their own businesses. In fact, many popular corporations such as Apple and Lamborghini are results of part-time endeavors from home.
It is often said that you have to spend money to make money. This statement is quite true when it comes to marketing. Luckily, it has become much easier to start your own business without spending much nowadays. There are plenty of businesses you can start with little or limited resources.
Have you ever thought of being your own boss, and having control over the work you do? If so, you should consider entrepreneurship as a career option. Here are six businesses that you can start with a limited budget.
1. Creating chatbots
Creating chatbots can be great if you wish to start a business with limited or no funds. Chatbots put companies right at the heart of the action – in messenger and chat apps like Slack and Facebook Messenger. This way, prospects and customers get all the information they're looking for in the most convenient places.
Consumers love seamless integration – all the more reason for chatbot usage to increase. People love a program that communicates with them to complete their actions such as operating other apps.
Chatbots are not only in, but have reached a point where every company needs one. They have become a gigantic opportunity for corporations to improve their customer service and marketing efforts. The best part is that you can start creating chatbots quickly and easily without having much coding knowledge.
2. Marketing services
Providing marketing services requires a certain level of knowledge and skill in marketing. That being said, you can always invest in a marketing course if you don't have any experience. This will help you learn the tricks of the trade that you can use for helping your clients grow their businesses.
You could help businesses with their advertising campaigns, social media marketing efforts and digital marketing campaigns. You could also help them plan events, product launches and more. Before you start a marketing service agency, it's important that you clearly define what services you can provide and what type of businesses you'll cater to.
3. Content marketing
Content marketing, as the name suggests, is the process of producing and distributing consistent, relevant and valuable content. It is used to attract and retain a clearly defined audience that'll provide decent conversions.
Although it's easy to confuse it with other digital marketing services, content marketing focuses on long-term results. If you're considering content marketing, be sure you have enough time and some capital without expecting an initial ROI. The initial payout of content marketing ranges from very little to nothing.
However, if done right, content marketing can do wonders for businesses in the long run. If you wish to be successful at content marketing, you'll need to follow these best practices:
- Provide quality content
- Create content around relevant topics
- Optimize content for SEO and readers
- Consistently create and promote content
4. Affiliate marketing
Affiliate marketing is quite easy. It involves earning commissions by promoting other companies and their products and services. You can choose from a wide variety of affiliate offers you wish to promote. Each affiliate program provides you with a payout for every sale or lead you generate.
In simple terms, you choose a brand's product and service and promote it. Every sale or lead generated as a result of your promotional efforts will get you paid. You can run affiliate offers via email lists you have created, a blog that you run or social media. Having your own website or blog and knowing how to determine visitor statistics to prove success will help you start off your affiliate marketing business easily.
5. Website development
If you have an eye for design and are familiar with coding languages such as Python, Ruby or CSS, you could start a web design business right from your home. If you're starting out with no experience, however, it would be wise to take a few classes to help you understand the industry.
Web development is a highly lucrative career, and the demand is always increasing. There is likely to be a 15 percent growth in employment rate of web developers between 2016 and 2026. To start out, you'll need to have a strong portfolio to attract clients for your business. You could start out by taking on small business clients and designing websites for local businesses.
You'll need to be able to create websites with a structure that's easy to navigate. According to BigCommerce, you should also know how to choose themes and templates that properly represent the brand. You'll need to consider factors such as ease of use and device size when building websites and online stores for your clients.
6: App development
App development is another industry you can venture into on a small budget. There are two ways you can go about this: You can either build apps that you market yourself or build apps for other businesses. If you choose the first option, you'll have to either make it available for free and run ads on the app or have people pay for the app.
There are several tools you can use to build apps more easily. GameSalad is one of the best options and is available for free if you run ads in your app. The paid version does not have ads, and you can even add in-app purchases. Appy Pie is another good option. Like GameSalad, this tool is available for free in exchange for ads in your app.
With these business ideas, you don't have to worry about leaving your job in order to start your business. You can easily manage your job and business while managing time effectively. The internet has created endless possibilities. Enhancing your current skills or learning new ones can help you start your own business.