Cashflow is undoubtedly one of biggest barriers to so many would-be entrepreneurs looking to build their own empires.
As the old saying goes, you’ve got to spend money to make money, right?
So what are you supposed to do as an aspiring entrepreneur who can’t rub two pennies together?
Don’t freak out. Despite popular belief, you can start a business with next to nothing if you pick the right field to go into. Thanks to the power of the modern web, there are endless opportunities to make money online even if your bank account isn’t currently booming.
If you want to start a business or make money online but your current budget is bumming you out, consider the following three proven paths to success.
Investing and Trading
This one might seem kind of backward. After all, any form of investing requires some initial capital to get started, right?
That said, opportunities such as penny stocks require a relatively low initial investment. Investing guru Tim Sykes notes you don’t need a massive budget to begin trading with penny stocks. There’s nothing wrong by starting small, after all: what better way to ease yourself into the world of investments?
After all, you can always use penny stocks as a sort of stepping stone toward bigger trades over time by applying the knowledge you gained when you first started out. Although it takes some persistence and a keen attention to detail, trading can result in huge returns over time.
Freelance Writing, Designing and Developing
Every business needs some form or writing, from marketing executives to brick-and-mortar businesses looking to grow their online presence. If you have any sort of writing chops, you’d be surprised at just how quickly you can grow and profit as a freelance writer.
In many cases, freelancers in the field of content writing often have somewhat of an edge because businesses are much more likely to hire freelancers on an as-need basis versus blowing out their budgets on a full-timer. Seek opportunities on sites like Upwork or Fiverr or cold email businesses yourself to see who might be interested in your services.
You need little more than a website and an email address to get started with freelancing. By building an awesome portfolio yourself, you can show off your talent and entice businesses to hire you. These same rules apply to freelancers in the fields of web design and development, both of which are in high demand right now.
Ecommerce and Dropshipping
If you want to start a business that’s a bit more “tangible,” consider how selling physical goods is totally fair game thanks to dropshipping and the evolving world of ecommerce.
Starting a dropshipping business basically involves purchases goods from a third-party seller and selling them on your own custom storefront. These types of businesses are all the rage right now because you can sell just about anything and attract those who love the thrill of the hustle.
You can also take the old-school approach of selling and reselling goods on platforms like eBay and Amazon. As simple as it may seem, there are tons of people out there making a full-time income from reselling.
You’re not necessarily locked out from the worlds of entrepreneurship and making money online if you don’t have a ton of cash on hand today. Consider these three avenues are paths to success if you’re looking to get started bringing in dough sooner rather than later.