Kamran needs some "low-level investment" business ideas.
"Whatever you do, never get into business!" Those are the exact words my mom told me when I first showed my interest in running my own business when I grow up.
Whatever her reasoning was, it never really repelled me away from the idea. Yes, I became a doctor and have committed my life to the profession. But, the pursuit in that field never left me out of the joy in creating something of my own.
What if I told you I once grew an institution from ground zero to a hand over price of over $7k, which now is worth way over $70K, with a total of $0 investment?
You'd think I am lying. Because, I am. The truth is, my personal investment was only $20 and heaps of time and effort.
It was sold off at $7K only after 3 months from scratch to working, and is now doing way better than I could have run it.
That story is for later. Other than my most successful model, I have tried my hands in many things including an online store back in 2011, apparel, perfumes, consultancy and even on-site reselling.
The most valuable lesson I ever learned from my experiences is: Start-up capital is crucial, but brains to convert the capital to success is more important.
Kamran, an acquaintance, asked for business idea with a low-level investment margin.
You could shed some of your wisdom, too.
I am going to divide my suggestions into 2 parts. E-commerce and traditional businesses.
Online businesses are flourishing as of now, it'd be wiser to start something online rather than risking your money on something that will carry a lot of weight with it.
1- Content Manager:
Since, you, Kamran, by now have a good idea about content creation and management, I think it would be a good match.
As a content manager or consultant, your main aim is not to create content, like you do now, but overlook content creators.
It includes everything from time keeping, analytics and, at a more advanced level, marketing and finding sponsorships, funding content.
Since Covid-19, we have seen a rise in online content. Many are out there with either a lot of potential and/or do not know how to go about in the online content world.
As part of your service, you will be counselling them, on and off their content, providing them valuable insights in regards of their reach and audience, as well as managing deals and sponsorships. In a similar fashion, you can also be responsible for funding their content and equipment.
This requires more knowledge and drive to work, opposed to capital. The returns are massive, if successful, and has been proved as a working model by many manager/consultants around the world.
Do you know of "Satisfying" on snapchat? Those Ukrainians in the video didn't make it so far by themselves.
2 - Dropshipping:
As cringey as it may seem, this is the most popular online business model for any aspiring entrepreneur, right now. My own cousin is a dropshipper, a very successful one actually.
Dropshipping is losing supporters as we speak. But it is very successful as long as your clients do not know you are a dropshipper, or your clients do not care about the original vendor. That, along with legalities.
This requires a technical touch. If you do not possess it then you can hire your technical touch on fiverr and so on, for very cheap. Your capital is mainly focused on domains, servers (if required), SEO, your IT guy...and that sorts.
As a dropshipper, you sell commodities from your platform without actually ever owning them. In some countries, you do need licenses and ownership of product to some extent. In the general scheme, your platform is an online pipeline between the vendor and the customer, with an added charge for your services.
Depending on where you live and where you plan on starting your endeavors, your options may vary. You could start off with something very simple or just get into partnerships with already established businessmen.
On the 2nd part I will be sharing some traditional businesses you could consider pandering over. I like the challenge put up. My guideline would be: "Where could I begin if I had no capital at all?"
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