starting small businesses with no money.

[Marty McFly]

So I have no formal qualifications or a trade and I want to be a business man. Lets get a thread going dedicated to generating business from little or no money in the bank.

Aside from trying to make money on the web and looking at network marketing I have only a couple ideas how to move out of my minimum wage job.

1. Currently I am trying to start a videography business (weddings to web commercials, etc, and also video sales) because it would be making money from a hobby. I know a few people making a really good living at it, which made me realise I've been sleeping.

2. Another idea kicking around my head is a courier service starting with my Ford hatchback car and would hire a van later if things picked up. Only concern is people stiching me up with no pay.

3. Travel agent. Selling tailor made vacations on the net, package weddings or even escorting groups ON vacation of a self-designed itinerary.

4. I think internet sales is definately the way to go but I don't know what product would be the niche....to start with, at least which would be cheap.

[Gene]

Originally Posted by Marty McFly

So I have no formal qualifications or a trade and I want to be a business man. Lets get a thread going dedicated to generating business from little or no money in the bank.

Aside from trying to make money on the web and looking at network marketing I have only a couple ideas how to move out of my minimum wage job.

1. Currently I am trying to start a videography business (weddings to web commercials, etc, and also video sales) because it would be making money from a hobby. I know a few people making a really good living at it, which made me realise I've been sleeping.


4. I think internet sales is definately the way to go but I don't know what product would be the niche....to start with, at least which would be cheap.

Back in the dark ages when the Amiga computer was still in production I had some success creating niche videos with pro-consumer equipment. I like you enjoyed the photography and videography and jumped into a subject I had passion and some degree of mastery in.

The equipment is better today and it is technically easier to produce quality products. I still do some for fun and for friends.

If you enjoy video test drive it.

[Jonathan Mead]

My best advice would be to go with what moves you and motivates you the most. It sounds to me like that would the video business. The reason I say choose what moves you is because you're more likely to take consistent action to develop something that you love, rather than simply a clever idea. Good luck in your ventures, I'm in the same boat as you are. I started my business (my blog) with $15 for the domain and $10 a month for the hosting, not bad. I designed the site myself so that saved me quite a bit as well.

[Buddy]

Regardless of what product or service you decide on, marketing is the most important aspect. You can have the greatest thing in the world but if no one sees it...

[frankfortpost]

I think this is a good thread to talk about this, because I have been trying to
do this for a number of years off and on.

Currently, as a disclaimer, I'm having very little success with it.

I'm starting to come to the opinion that it "takes money" to make money.
I am not beholden to this, because I know it's possible, but it can be
very hard.

I have a lot of business ideas, as that is not the problem.

As for implementing them without cash flow, I'm trying to work with my local Chamber of Commerce, and other local people first. I will see how that goes, and if it does not work, I will seek venture capital from outside sources.

I do have one idea I would like to throw into the mix, and this is why I dropped by this forum tonight.

I have noticed for a number of years that Automobile, and Real Estate companies, generally spend large amounts of money with the local newspaper.

Since Real Estate, and Automobile sales are down in my area (no surprise), I figured maybe I could offer them a service where I marketed them across the internet.

This could include anything from getting paid to post free internet classified ads for them (with website link included), to posting in to industry related message boards, blogs, perhaps posting on E-Bay, Automobile and Real Estate tailored sites, and so on.

First off, what is a fair market rate to charge? I want to do well, but most importantly, I want to do well by the clients.

The idea here, is that I have seen a number of posts on message boards, and blogs, as of late, by people who are paid to do so per post.

[frankfortpost]

Another idea is www.chacha.com

You can get paid to be a Search Guide.

[jwilson1]

I see a lot of these types of threads on different forums. Sometimes I think people are jumping the gun.

Imagine if you arrived on the outskirts of a large city. There were now street signs and you had no map. I told you to get to a specific office building. Could you get there? Possibly. You might be able to stumble around long enough to find it, but chances are it would take most of your life.

People call that dumb luck.

This is the way it is without goals. Sure you can make anything work. But my quesition is what is your outcome?

Why do you want to do what you are saying? What is your purpose? Vision?
Once you understand what it is you are shooting for, I think it will be easier to find businesses that line up with your values, beliefs, and interests.

[Buddy]

"I'm starting to come to the opinion that it "takes money" to make money."

I started with bum marketing so no start up cost. Then I started using a system that needed no start up costs then I outsourced everything and it became self funding. Now it's passive income. I liked it so much I bought the resale rights and sell it myself. It can be done.

[TomSprewer]

Hey guys,

Very interesting post since I'm in process of seeking opportunities to become financially independant, but I don't think I have what it takes.

What are your thoughts about that?
Is it possible to make money from home?

Thanks,

-Tom

[1000feet]

I sure hope so, or I'm living in a pretty big illusion.

[Buddy]

Like I said, article marketing whether it is your own product or affiliating to someone else's, is a great free way to get started. See my Squidoo lens in my sig.

[Marty McFly]

Bumping up this thread to get some more ideas for everyone in the same boat. To escape a mundane hourly wage job and create a business which one can enjoy - that has little start up costs and growth potential.

[cadmar]

I have a great idea for a business! I have invented and have it patented a portable skating machine. This is the first of its kind to be able to actually skate on an exercise machine in your house.

My problem, of course, is the money side. Being able to make this work in other cities.
I'm thinking of somehow spreading the concept/ machines made by others in other cities. This will take away my financial need for large investors to go nationally?
Any suggestions?

[Orionjoel]

This is absolutly possible.

jwilson1, i think if i was put in this situation the first thing i would look to do is find the city hall, and sell them street signs. You just got to take the opportunities that may be presented to you.

I am proof that you can go from no trade, or profession and make some good money from starting a business, in my case i did not finish high school, and from so many different things that i read i find very similar cases, from many many successful people. There are so many college dropouts, people that went from living on the street, with no education. I think the biggest thing to work on is your desire to make something a success.

I went from earning around $250 a week, at 17 in a dead end job, and after tax, and other expenses had barely $100 left over. Going througha few more jobs along the way i hit 21 and in the seoncd year of my business made over $52,000 profit after tax. While i no longer actively pursue this business, and consequently have not maintained that income from it, i am still comfortably earning over $50,000 this year, and have a good career with good future, and constantly working to get my business back on track to make similar or rather better returns then before.

Anyone can start a business, anyone can make some money from a business but to have a really successful and continuing business you need to be passionate about what you are doing.

[cadmar]

Does passionate mean you are not reasonable? When do you give up and realize it is over?

[James Hayden]

Marty,

I just now saw this thread, after replying in the other thread you made about videography business.

I don't want to rain on your parade, but this kind of business does take quite a bit of start up capital. I was lucky to be able to start mine. I'm not going to disclose exactly how much my gear is worth, but to give an idea, I can say it's worth more than my car was when I bought it. I have about that much more in planned purchases as my current budget allows me to purchase it.

Besides equipment, insurance is also an expense you must be willing to pay at the very minimum. I am not sure if it is required by law where you're at. It is not required where I live, but many places require you to add them to your insurance and present them with a certificate of insurance before you can even operate on their property.

It is technically possible to still operate if you don't have insurance and an arsenal of equipment, but it's very risky/irresponsible to do so.

This is the sort of thing I referred to as "bad competition" in one of my previous posts.

Essentially what has happened is there is an unprecedented flood of people with cameras wanting to get a slice of the pie. The problem is that they aren't familiar with the industry code of ethics, or best business practices. They come in and undercut people who are trying to run a sustainable, profitable business -- the very pillars which sustain the industry. I was one of them when I first started out -- I simply wasn't aware of the state of things.

When one of these newcomers set up shop and severely undervalue their services, it drives the prices down across the board. But what our customers don't see is that person going belly-up a year down the road when they can't fund the business anymore. There appears to be no end to the onslaught of people willing to work for pennies, so it's becoming harder and harder for people who are already established to stay competitive and make a profit.

I have no problem with good competition. People who are looking to make a profitable, responsible business help the industry tremendously, but there are so many people now that think they're just going to swoop in and make a quick fortune, but crash and burn instead, and it ends up hurting everyone.

Anyway, I am not saying you shouldn't pursue this if it is what you want to do. I just think if you're going to do it, I hope you are able to go at it in a healthy, sustainable way that benefits everyone.

[Marty McFly]

Thanks again, James. I'm alright with the equipment and skills department and insurance is not quite the same in the U.K as America. With regard to under-cutting the competitors - that is what I will be doing to the competition for the time being, until I establish a style of my own.

I started this thread so we can discuss ideas on starting a business up cheap using assets that we already own. In my case, a professional camera and computer, and a car. It would be making money out of a hobby and would make feel much happier.

What other businesses are there out there that don't require a trade that can bring in sufficient income? At the moment I am out of work and need 50 pounds (90 dollars) a day to meet a minimum wage hourly job.

Many people make a living buying and selling stuff but at the moment I am looking at general services.

Such might include: gardening and cleaning services....computer basics (Installation and basic web design) service, a courier or airport run service - if I could afford the insurance and a van. Catering - mobile sandwich shop. Any other ideas? Most people outside of the city are self-employed anyway.

[Calculusaurus]

Originally Posted by Buddy

"I'm starting to come to the opinion that it "takes money" to make money."

I started with bum marketing so no start up cost. Then I started using a system that needed no start up costs then I outsourced everything and it became self funding. Now it's passive income. I liked it so much I bought the resale rights and sell it myself. It can be done.

Does "bum marketing" really work that well? What are common time scales and profit?

[1000feet]

It sounds like it works quite well if you resell the system itself

[newmark]

Marty, just do it.
Your ideas are good, particularly the one on videography, as this seems to be what moves you. If you're not passionate about an idea the business which develops from it will begin to bore you; unless, of course, you really start making money.
Of course it helps to have money, but some people start with nothing and just build up slowly.

[samjbrowne]

Originally Posted by Marty McFly

So I have no formal qualifications or a trade and I want to be a business man. Lets get a thread going dedicated to generating business from little or no money in the bank.

Aside from trying to make money on the web and looking at network marketing I have only a couple ideas how to move out of my minimum wage job.

1. Currently I am trying to start a videography business (weddings to web commercials, etc, and also video sales) because it would be making money from a hobby. I know a few people making a really good living at it, which made me realise I've been sleeping.

2. Another idea kicking around my head is a courier service starting with my Ford hatchback car and would hire a van later if things picked up. Only concern is people stiching me up with no pay.

3. Travel agent. Selling tailor made vacations on the net, package weddings or even escorting groups ON vacation of a self-designed itinerary.

4. I think internet sales is definately the way to go but I don't know what product would be the niche....to start with, at least which would be cheap.

Hi Marty,

I thought I would just address your original post. I was like you not so long ago and have since started a business. I'll address your suggestions and then give you a couple of tips that I wish I'd known at the outset.

First of all, I would suggest you look at the various ideas you've got and actually consider how much money is likely to come your way from working at each. All of the above will take some genuine hard, long hours (though you'll enjoy learning along the way - it's a lot more fun than a job!) and once you've started something, you're going to want to see it through for while, probably at least a few years.

So, weigh up the pros and cons. To me, you've got three ideas there (the fourth is quite vague).

Starting with what I would perceive to be the least viable, you've got the travel agent idea. The travel industry is awash with people who like the idea of travelling (i.e. having travelling experiences themselves) and so figured they would work in travel. For this reason, and because it's becoming easier and easier to just organise travel arrangements yourself, I would suggest that you'd need a rock solid, unique idea to stand out in this field, and you'd need some decent start up capital to put together a site that would allow you to stand out. Speaking for myself, looking at this opportunity, I would say either give the idea a lot more thought and work out a definitive niche that you are passionate about, or dump it.

Next, the courier idea. Sure, you could do this - buy into a franchise and supposedly "be your own boss". Of course, you're not really your own boss, you're not making the decisions regarding your marketing and the branding, the way you do business... and you had to supply the car as well. Being a courier driver is something that anyone can do, so joining an existing franchise is not going to allow you to really get ahead. You will make a living sure, but probably not anything to get excited about.
If you were implying you'd like to start your OWN courier company from scratch, that's a bit different, but you'd be looking at massive outlay to get the necessary vehicles, branding, advertising etc etc to make this viable. This is actually less viable than the travel idea, to me.

And then there's the videographer idea. Now this is obviously your passion (that's a big tick - you'll be doing it a lot and you'll need to genuinely get excited about it on a daily basis), allows you to start small (you just need a computer and your equipment - sure it's not cheap but a bank loan will allow you to get everything you need) and you won't need any staff, offices etc at least for the first little while. You may choose to NEVER take on extra people, and just be a one man business. There is nothing wrong with this and I know someone who does this exact business, VERY successfully after fifteen years in the game.

To me, the videographer idea is the viable one from that list of three. Because it's a specialised skill (unlike courier or travel industry), you get paid as a specialist. This means there is real money to be made and you can make a decent living from this within six months of getting started, if you work to a plan and keep investing in new business (via advertising, marketing, sales calls, networking etc). A small business can advertise purely through google adwords and immediately start giving clients quotes, for as little as $1 a day!

So, I think we can agree that the videographer business is the best choice for you. What next?

Well, probably the biggest thing that I wish I had understood better when starting out is SEO or search engine optimisation. This is a different topic to what we're discussing but the key thing to remember is that the name of your domain should be exactly in line with what people will be searching for if they are looking for a business like yours. I named my business findaband.co.nz - but I would have been better off calling it aucklandbands.co.nz (Auckland is the city where I live). Then, when people searched for "Auckland Bands" in Google (or "Auckland wedding bands" etc), my site would be the obvious choice, as an exact match. Of course, nobody searches for "find a band", because we all know that Google finds things - we don't need to use the word find in the search. I'm far enough down the track that it doesn't matter too much but I would have gotten here much faster with this knowledge. For more about SEO, check out seomoz.org, it's got everything you need.

Start small, but think big. Focus on your town or city, not the whole state or country. Somebody gave me this advice and I have found it invaluable. You can always start something much bigger once you're established and making good money, but you need to get to that point first. Be a big fish in a small pond first.

I hope this post helps. Good luck with your journey into business.

[Valeria]

Sam, that's excellent advice.

I agree that it's important to go with your heart. I'm in a similar situation. I'm just now getting my businesses off the ground. I'm doing it on the cheap, by learning to be my own webmaster.

I stay up late each night, getting no more than 4 or 5 hours of sleep, writing the copy, learning the software, learning to set up the hosting accounts, installing WordPress. And I love every second of it.

Now this period of intense work won't last long...probably only a few more days. But imagine if I didn't like it! How would I motivate myself to get things done?

Really is important. Go for what you love.

About the videography business, why don't you name it something like "A guy and a camera" so people who hire you know exactly what they're getting? You could deliberately target the lower end of the market...the people who wouldn't normally hire a videographer anyway. And by positioning yourself at the lower end, you can charge lower prices without confusing people that you are competing with the high-end guys with better equipment.

Like a restaurant...there will always be people willing to pay for the best atmosphere and quality. And then there are people who just want to go to the Chinese buffet.