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I think just about everyone and their mother knows the story of Steve Wozniak and Steve Jobs starting Apple Computer Co. from Jobs’ parents garage… but did you know they’re not alone in the list of billion-dollar companies who started with little-to-no investment? 

Walt Disney, Hewlett-Packard, Mattel, Papa Johns, IT Cosmetics, Spanx and so many more household names were all founded on a tight budget and a good idea, proving you don’t need investors to start something amazing… you just need creativity, passion, and the willingness to take one step at a time.

About a year ago I recorded Episode 658: 10 Small Business Ideas So You Can Work From Home and it was one of our top downloaded episodes ever. I think people these days really want to have that freedom and flexibility and they also want to find a career that gives them both of those things, so today we are taking a bit of a different spin on this topic!

If you’ve ever felt the tug to start your own business but worried about the start-up cost or you’re wanting to expand your business or start a new side hustle, this episode is for you.

I’m about to give you 10 fresh business ideas that are perfect for anyone looking to make a big impact with a small investment. I even think that some of the BEST business ideas don’t require a ton of money to get off the ground! 

It IS possible to dream big without spending big, and I’m going to prove it to you right now. Let’s dive into 10 businesses you can start with low startup costs!

1. Virtual Assistant

• What Is It?: A virtual assistant (VA) is a self-employed worker who provides administrative services to clients remotely, usually from a home office. VAs can work part-time or full-time for companies of all sizes and industries, and their tasks can vary depending on the employer. Some common tasks include: scheduling, email management, research, project management, travel planning, graphic design, bookkeeping, etc.
• Stats: According to ZipRecruiter, the average annual salary for a VA in June 2024 was $50,749, with the top earners making $65,500. That means the average hourly wage is between $20 and $30 per hour!
• This May Be For You If: You are proficient with your computer, enjoy organization and attention to detail, have communication and interpersonal skills from a previous job.
• What You Need to Get Started: You just need a computer, internet connection, and any necessary software you may need for specific tasks you plan to do.

2. Wedding/Event Planning

• What Is It?: An individual who plans/coordinates large events such as weddings, corporate gatherings, parties, and more.
• Stats: The events industry is absolutely booming post-pandemic. Now that in person events are having a big return there is a demand for event planners to plan all these events! According to GlassDoor, Wedding planners make anywhere from $53-$96K per year, especially if you specialize in high-end weddings. 
• This May Be For You If: You’re a people person, have excellent communication skills, you are a visionary that can see a plan come to life, you’re very organized, you’re a problem solver.
• What You Need to Get Started: You just need a computer, internet connection, a website host, and a car to get to and from each event.

3. Dropshipping

• What Is It?: Sell products online without holding inventory. When you make a sale, you purchase the item from a third party, which then ships it directly to the customer.
• Stats: Did you know that according to a case study by Analyzify, dropshipping accounts for 23% of all online sales in the e-commerce industry? Plus, dropshippers typically earn 20–30% profit from each sale! Successful dropshipping businesses can make $50–$5,000 in daily profit, so it’s an awesome way to make money from home.
• This May Be For You If: Like to stay on top of trends, if you are a first time entrepreneur (because of the low risk factor), or if you’re interested in SEO or social media marketing. Dropshipping can also be a great addition to your existing business because once you get it up and running, it’s pretty low maintenance to keep it running! 
• What You Need to Get Started: You just need a computer, internet connection, and a website host.

One of the most downloaded episodes of 2023 was with Chelsey and Stephen Diaz of the Rainmaker Family. They teach you how to dropship in Episode 733: This Family Is Making Thousands in Passive Income… Here’s How!, and you can learn more about their step-by-step course here!

4. Online Courses/Coaching

• What Is It?: A popular business model with low start up costs is when you create an online course or offer coaching services in areas like fitness, nutrition, or mental well-being.
• Stats: Coaches charge an average of $244 per hour, which iz a 9% increase since 2019. 
• This May Be For You If: You are knowledgeable in a particular area you feel confident teaching. Remember: you don’t need to be an expert, you just need to be one step ahead of your client!
• What You Need to Get Started: You just need a computer, internet connection, and a website host.

Over the years I have recorded tons of episodes about how to add online courses into your existing offers, which will be linked in the show notes. Some of my recent favs are episode 702: What No One Tells You About Online Courses, and episode 705: Exposing All the Reasons Why You Haven’t Created a Digital Course (YET!) with my friend Amy Porterfield!

5. Personal Services

• What Is It?: Personal service workers help people who are unable to perform certain tasks because of various reasons such as being too busy or too ill. Chef, Trainer, Caregiver, Organizer, Dog Walker, House Cleaner, Interior Decorator, House Sitter… There are a lot of personal services you can offer in your own town!
• Stats: According to the U.S. Bureau of Labor Statistics, overall employment in personal care and service occupations is projected to grow faster than the average for all occupations from 2022 to 2032. Crazy, right? And they’re making well over minimum wage, too… For example, caregivers make an average of $16 per hour, and house cleaners make an average of $17. If this is your zone of genius, it could be great supplemental income or full-time work!
• This May Be For You If: You like working with people in person, and have an interest in one of these jobs (if you like dogs you could be a dog walker, or if you have an eye for design, you can be an interior decorator, for example)
• What You Need to Get Started: Depending on which service you offer, you may need supplies (a house cleaner will need cleaning supplies and a chef would need kitchen utensils, for example) and a car to get to and from your client’s homes. 

6. Affiliate Marketing

• What Is It?: Affiliate Marketing is when you promote other companies’ products and earn a commission on sales generated through your referral links.
• Stats: When I read this stat, my mind was absolutely BLOWN…. 81% of brands use affiliate programs to boost brand awareness and drive sales! 81%! Seriously, according to a study done by Authority Hacker, affiliate programs are the MOST important client acquisition method for 40% of US firms. 
• This May Be For You If: You enjoy sharing products you love with friends and family, if you enjoy testing out different products, if you have a loyal social media following (doesn’t have to be a big following!), if you already use products that you know have affiliate programs!
• What You Need to Get Started: You just need a computer, internet connection, and a website host.

I have been an affiliate marketer for YEARS and I can confidently say that strategic brand partnerships make up a significant part of my income. It’s the best, because I’m just sharing what I love! If you’re curious about getting started with this revenue stream for your business, tune into episode 722:0oi Hearing About Affiliate Marketing? Here’s Everything You Need to Know!

7. Accountant/Bookkeeper

• What Is It?: Both accounting and bookkeeping play an important financial role in business, but according to Business News Daily there is a difference between the two. Bookkeeping is a direct record of all purchases and sales your business conducts, while accounting is a subjective look at what that data means for your business and cash flow strategies. An accountant can be considered a bookkeeper, but a bookkeeper can’t be an accountant without proper certification.
• Stats: If you’re good with numbers, a bookkeeping job might be in your future! According to ZipRecruiter, their average salary nationwide is $24 per hour!
• This May Be For You If: Enjoy numbers, if you are very organized, and if you are already familiar with bookkeeping/accounting software from owning a business or from a previous job.
• What You Need to Get Started: You just need a computer, internet connection, and any necessary software you may need, such as QuickBooks or Zoho.

8. Writer/Editor/Proofreader

• What Is It?: All of these create and edit content and media of all different types – from resumes to social media captions to blog posts and everything in between. 
• Stats (If Applicable): According to the U.S. Bureau of Labor Statistics, there is A HIGH demand for this job. Editors make an average of $31 per hour, and Copywriters make $37! 
• This May Be For You If: You’re a natural wordsmith, have an attention to detail, and have great creativity and imagination.
• What You Need to Get Started: You just need a computer, internet connection, and any necessary software you may need, such as Google Docs or Microsoft Word.

9. Selling Digital Products

• What Is It?: This is when you create and sell digital products like e-books, printables, or software.
• Stats: Conservative estimates place spending on digital products at $135 billion for 2024. Digital products accounted for 3% of all US consumer spending in 2023! In 2020 alone, over 2 BILLION consumers purchased digital products… so there’s definitely a market for you to sell digital products.
• This May Be For You If: You want to share your knowledge with people on the internet, if you enjoy compiling information, if you like creating content for others to see, if you have already created content in the past and it’s just sitting there! (i.e: school teachers, therapists, virtual assistants)
• What You Need to Get Started: You just need a computer, internet connection, a graphic design software like Canva, and a website host or creator store like Stan Store.

10. Graphic/Web Designer

• What Is It?: A graphic web designer, also known as a web graphic designer, is responsible for the visual aspects of a website or application. This includes the layout, structure, navigation, and interactive features. They may also create website concepts, design page layouts, and use specialized software to create animated graphics and images.
• Stats: As of May 2023, the median annual salary for graphic designers was $58,910, and employment is expected to grow 3% from 2022 to 2032. This is a very common freelance job that you can do from anywhere!
• This May Be For You If: You have an eye for graphic or web design, and enjoy working with people virtually.
• What You Need to Get Started: You just need a computer, internet connection, and any necessary software you may need, such as Canva or Adobe Photoshop.

Thank you so much for hanging out with me today, Goal Digger… I genuinely cannot WAIT to hear what business you start with a big dream and a low investment! 

I have loved my journey through entrepreneurship, and it excites me to think how many people’s lives could be changed if they made their business dreams a reality. I know for many, the lack of funds can be a frustrating barrier to entrepreneurship, but I hope this episode inspires you to take what little you have and make something beautiful out of it.

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