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You may be thinking about setting up a business to run in your spare time. It can be a good way of making some extra money. Don’t let the costs involved stop you, as there are many things you can do with very little outlay. Read on to find out about some side business ideas you can set up on a shoestring.
Online or Offline
The first thing you need to do is decide if you want an offline business or an online business. Whichever you opt for you will need a web presence to let people know about your new startup, this can also be achieved with social media if you manage it effectively.
Social media takes time and commitment but once you have a business page on the various platforms and regularly post about what you are doing, you will soon build a following to help launch your new venture. The beauty of this type of marketing is that the only cost is your time.
Pinterest is a highly effective platform, pins can be automatically posted using a scheduler like Tailwind.
If you want an offline business to run alongside your lifestyle there are many options to choose from.
Catering for special events or private parties can be a good way of making yourself some extra money and it could even turn into something big like http://www.abmcatering.co.uk, as can offering a bookkeeping service or being a financial advisor, or even a crafter as many of the sellers at Etsy.com would suggest.
These would all need a certain level of skill in their field, but if you do not have that already there are lots of courses available.
You may think this would be easier, but with millions of businesses already operating online, the competition is huge. Whatever business idea you have you need to make sure there is a reason your brand stands out from the rest. If not you will just end up as one of the many online startups that fail every year.
There are lots of options though. You could offer your services as a virtual assistant or give tutorials for a skill that you have. You can earn money by completing surveys online, or by testing and reviewing products.
Earn Money While You Sleep
A prominent businessman once said that unless you can make money while you sleep you will have to work hard for the rest of your working life.
One way to achieve this is to start a blog or video channel that accrues lots of followers. Once you have enough of a following, companies will want to advertise on your site. You are usually paid per click on their advert, and that happens 24 hours a day.
Another way is starting a blog and adding affiliate links. If a visitor clicks one of these links and purchases a product or service, you will receive a commission.
Starting With No Money
The suggestions above are just a drop in the ocean of the businesses you can start with little money. Even things where you might have an initial outlay to deliver something, you can usually get the customer to pay a deposit so that you are not spending your own cash.
Many people start part-time businesses for a bit of extra cash, some become so successful that they are able to leave their full-time jobs.
It is worth putting your idea into practice as even it does stay as a sideline, you may just find you really enjoy it.
If self-publishing interests you, take a look at Inspiring Life Design’s tips on getting started.