058: Five Ways to Start a Business for Less than $1000 [Podcast]

Did you know you can start a business for less than $1000? When we started our homeschooling business, we spent about $7000. But, of that $7000, most of the money was not needed and mistakes we made going in. Instead, when I look at what we really needed to do and spend, the total would have been less than $250. But, when others come to me eating to get started, most think it will cost them over $100,000. So today, I will provide you five ways to start a business for less than $1000.

Courtesy of the 2010 Army Digital Photography Contest 110311 by U.S. Army[/featured-image]

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Five Ways to Start a Business for Less than $1000

1. Blogging with Affiliate Sales

Cost: $100

What to do:

1. Decide on a blog topic. What subject? Think about hobbies and passions. Do things that are part of your calling. Download the ebook How to Find Your Calling.

2. Setup a WordPress Blog. See How to Setup a Self-Hosted WordPress Blog for details.

3. Find affiliates in your space. Visit websites related to your topic and see if they have an affiliate link. These are often at the bottom of the page. For examples, see Amazon.Com for their affiliate program. (And you should become an Amazon affiliate!)

4. Start blogging and linking.

If this is for you and you want to learn more, see Jonathan Milligan’s Blogging Your Passion University.

2. Internet Product Sales

Cost: $35 /mos + products

What to do:

1. Like blogging above, you can find things that you might want to sell because they are hobbies. So if you are in a  product based business and want to actually handle the products (like a store) or you are making your own products, this is the path for you. First find the products.

2. Setup an commerce store. Sounds hard, but the best way I have found is BigCommerce. Their store is easy to setup and easy to manage. They do all the hard work for you and have great support.

3. Start selling!

3. Ebay or Amazon Sales

Like #2 above, many people sell products without a website. They use Amazon or Ebay.

Cost: Nothing

To get started in this, listen to this podcast for details. Also see Making a Living from Amazon FBA

4. Provide Services 

This might be the easiest to start, but also the hardest to grow. But many people have found a wonderful living providing a service to others.

Cost: Nothing

Key issue: Do not buy tools you need, instead use what you have or rent them.

5. Start a Business with Borrowed Resources

If your new venture is typically a high cost startup, such as a restaurant, consider renting or partnering to get started. You might also start out of your home, like Paula Deen did. Look for other people and companies that might have untapped resources or underutilized equipment. Even look to those who you think might be competitors.

Cost: Varies, but you bring it way down by using a partnering or leasing approach.

Resources

• Discovering the Entrepreneur in You
• BigCommerce
• Making a Living from Amazon FBA
• Blogging Your Passion University

“Start a business for less than $1000 with Discovering the Entrepreneur in You.”]

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[reminder]What other ideas do you have, or have you tried, to start for less than $1000? [/reminder]