How to start up a buisness with 50 bucks.

by

By Chris Carlaw.


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The other day I received a question from one of my new Brisbane friends that was struggling to find work. It went along the lines of ‘Ive got a really cool idea to start a business, but how would I be able to get up and running with limited savings?

This prompted me to think about all the businesses out there and how they started financially. Many of them started with limited funds.

I don’t come from the traditional line of thinking that a business needs millions to start. If I had a great idea, id do it in a way that involved little startup capital.

What if you had no job, or retrenched from your previous position? Can you still get your business idea started?

Of course you can. You can do it with fifty bucks.

Today im going to show you ten start up businesses that cost $50 or less.

    1. Buy old pieces of furniture from garage sales and do them up. Then sell them on ebay.
    2. Be a freelance travel writer
    3. Be a consultant helping old people use technology
    4. Print 2 t-shirts and sell them at a friend’s market stall
    5. Start a jogging/fitness group and charge $5 a head
    6. Start a wedding planning business
    7. Make cushions and sell them at markets
    8. Be a negotiating broker, getting the best deals for clients who purchase cars, home appliances or home broadband
    9. Write a book and sell it on the Internet
    10. Create an I Phone application

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But even if you disagreed with me, if you wanted to go the traditional route to save up capital for a business, problems could occur, especially when it comes to marketplace timing and getting estimates correct. It can be very difficult (especially as a young person with limited business experience) to budget accordingly for a business that you would want to setup in 12-18 months time.

If I was to tell myself to save $10,000 to start a cleaning business , that’s all well and good, but where is the ceiling for this savings plan? When I got there, id be saying to myself ‘What about if I saved another $10,000 just for insurance if anything went wrong, since after all, it is my first business’.  In this situation, id never get to the end goal, id just keep saving because I would be worried that it isn’t enough startup capital.

Another 12 months passes and more competitors start popping up with your exact idea. How would you overcome this? You can’t just put time in reverse!

For promoting a business with little funds, we have multiple free tools available to us in this digital age. Theres email viral marketing, there’s twitter and of course facebook and myspace.

There are also many places online you can get free web hosting and cheap domain names if you need a website and you can make your own business cards.

So when it comes down to it, what’s stopping you?


Images nicked from Reserve Bank of Australia. We doubt they’d care much though, Non commercial use and all. And Yes, we do know that these aren’t the notes in circulation these days, we just chose to use them for a bit of variety. La la la.

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