Do you subscribe to the popular belief that you need a lot of money for starting a business? You will be surprised to know that you can actually start a business with low investment and make it a profitable venture.
If you live in India and want to put your entrepreneurial skills into some good use, you have landed to the right place because today I will share 10 low investment businesses ideas you can start in India. Just some direction, a negligible investment of money and time and you too can be a business owner! Indian economy is growing fast and so can your business.
1. Real Estate Consultation:
Real estate stays as the topmost profitable business in the blooming Indian economy. Although real estate business requires lots of capital investment, you shouldn’t worry about that because we are suggesting you to start real estate consultation services. Your business will guide the potential property buyers and will earn you 2-3% of the money your client will pay for a property.
2. Recruitment Firm:
Due to financial constraints, many companies prefer hiring employees on contractual basis instead of permanent ones. Providing such companies contractual employees can be your business. It is quite simple. Rent a small office, make contacts with several companies and learn what type of skills they are looking for, send a candidate to a company and take commission from the firm for a certain period of time.
3. Designer Festival Gifts:
These days exchanging custom made designer gifts on festivals is trending at top speed. Chocolates, designer diyas and gift boxes for Diwali, valentine and Christmas are quite popular. You can start the business right from the comfort of your home and use some creativity to attract more potential buyers.
4. Event Management:
Event management is also a blooming business. If you think you can manage things at the spur of moment and have networking skills, than this business can be your thing. You just need to take care of managing an event as money matters will be in the hands of the event hosts.
5. SEO Consultancy:
Search Engine Optimization (SEO) is becoming a necessity in the competitive internet world and with the growing number of websites and changing Google algorithms, SEO consultancy is in huge demand. You can take SEO training and set up your own SEO consultancy firm. If you produce effective results, you can be in huge demand not only in India but globally too.
6. Online Business:
You can also start an online business by simply setting up a page on websites like EBay or Etsy. If your products are good enough, they will sell themselves for sure. In addition, you can also promote other people’s businesses through affiliate marketing and earn every time your affiliate product gets a buyer through your link.
7. Wedding Planning:
Indian weddings are highly valued. People want their wedding to be the most memorable and impressive. So if you are good at planning a wedding, it can be an extremely rewarding business in India. (Remember the movie Band Baaja Barat?)
You can start your own blog in a niche of your interest and steadily start earning on it, if you provide valued information and bring traffic to your blog. Blogging is time-consuming work but it is a great long-term business with minimum investment.
9. Jewelry Making:
Indians adore jewelry because they love to dress up and look nice. If you love jewelry, you can take some training and start designing your own. If your designs are good enough, you will be earning a lot more than you currently are.
10. Food/Catering Services:
Food is a basic need and can earn you wholesome extra money if you serve mouth-watering treats, even if you start small. Open a catering business or food trailer if you can and put your chef skills to good use. If you have baking skills, you can even start a cake business from home.
With 10 low investment business ideas for India on the table, you can pick up the ones that interest you and turn your passion into a rewarding business. Do you have some new business ideas that need low investment? Please feel free to share in the comments.
If you have found online article writing an exciting way to make money, you will be surprised to know that you can also use article writing to produce passive income.
Passive income is like a source of money that comes without having to work on it constantly. For instance, if you write an article for a client on a particular subject, you will receive its upfront payment as the result of your work. But with passive income you can earn money on articles you wrote many months ago.
Now how do you actually generate passive income through articles? There are lots of options for this end. But you will not reap the benefits of your work in a spur of moment. Passive money takes time to reap fruits, possibly a couple of month or so.
The first method to generate passive income is by creating your own website. Select a niche on a trendy subject or the one that you like. For instance, if you tutor your children at home, you can develop a blog with tips and ideas for other parents. However, please keep in mind that blogs need constant updates to be successful.
Now another question comes of how to generate passive income after developing the website or blog. The answer is through advertisements. Of all the advertisement programs, Google AdSense is the most reliable and successful of all. This method allows income flow with every click on advertisement by your website visitors. The other way to make money is through affiliate marketing technique, by which you advertise products or services through your website. You get commissions every time your blog or website hits the sale.
Once you get the website or blog up and running, you need to drive traffic to your page. This is the toughest part of all. With massive competition on the web, it is not very easy to get noticed. But there are some techniques to ease the difficult part. With your writing talent at hand, it is easier to submit articles on article directories for search engine optimization, also called link building. Through this effective technique, you can develop huge following which will in turn increase the possibility of more clicks on advertisements, hence more money.
Apart from your own content rich website or blog, another way to generate passive income is through revenue sharing websites. These websites hire professional experts to fill their content. You may get commission on income produced through your article or may get a pre agreed bonus. This is a good approach, if building your own website is not a viable option.
Use optimal web search to locate such revenue sharing websites. Also, you can join lots of online article writing forums and communities where you may come across passive income sources including the revenue sharing websites.
Passive income generation is possible through a number of ways. But if you use article writing as a main source of your income, make sure to make your word play interesting. It is best to build up passive income sources in spare time while keeping regular writing assignments for a sure success in the long run.
Working from the comforts of home is a new facet of this globalized world. The idea of working from home in your pajamas at hours that suit you sure seems appealing. There is an exciting world out there which can be reached from a single click. I am sure many of you would have Googled work from home jobs and 99% of the results invariably are some sort of scams where they ask you to join a program for a small fee and promise you unbelievable sums of money. But that’s what they are –scams. Due to these scammers, many people think that working from home online is not feasible. But in reality there are many online home based jobs available.
Working online from home is in many ways similar to working in the real world. You have to put in effort and you get paid for your skills and output. It’s not a get rich quick scheme. But the beauty of working from home is that you have the flexibility and freedom to choose your working hours, your projects and your price as well as leave for that vacation when you fancy. Even if you are not a tech expert, you can earn a good living working online. All you need is right attitude and the willingness to put in time and effort.
First requirement for a successful online work is to find out what skills you have and how you can utilize them online. Here I have enlisted top 5 successful online work at home ideas that work and that cover a variety of skills sets. I am sure you will find something that matches your skill sets too.
If you have the talent to play with words, you can get a host of online writing jobs. The world of words needs your skills in advertisement writing, website copy writing, brochures, blog posts, press releases, SEO articles, newspaper articles, eBooks and a lot more. The beauty of this task is that it doesn’t require any technical skills other than your command over the language you are writing and a good writing style. A computer and internet connection are all you need for earning money from any corner of the world!
2. Virtual Assistant:
If multi-tasking and attention to detail is your thing, you are totally apt for virtual assistant jobs. Be it big companies or small businesses, there is a dire need of virtual assistants who can provide administrative and support skills to the endless to-do-list of the contractor. The tasks performed by these virtual assistants commonly include customer service, internet research, data entry, social media maintenance and this list is endless. You only need a working internet connection and viola! You are off to become a star virtual assistant.
3. Graphic Designer:
Graphic designers are needed for all types of websites, advertisements and blogs. If you know Illustrator and Photoshop well enough and your aesthetic sense is unmatched, you should gear up for some serious graphic designing. It only requires designing skills, a PC, your design software and an internet connection to become a successful highly paid graphic designer.
4. Book Keeping:
Are you the record keeper of your family? If so, why not take this skill to the next level. Book keepers are a need of every entrepreneur to keep their cash flow well in check. Excel or simple spreadsheets will do the task while you just keep the count of profits, spending and cash flow.
5. Sell products:
You can sell your products right through the web by means of a website, a blog or simply by opening accounts on eBay. Market yourself through social media and if your products are worth it, you will get a flock of buyers from corners of the world! Sell you products and make it big!
Choose a field best suited to your skills and temperament and get set to achieve the dream of earning right from the comfort of your own home!
Unlike starting a business in the real world, starting an online business does not require a huge capital. In fact, if you have the right business idea and are willing to devote time and work hard, you can start an online business for free or with a very little investment.
But like any business venture, there should be clear plan of action of for starting your online business. I have listed below the steps that will help you convert your online business idea to a full-fledged success story:
1. Find a niche market:
For an online business it’s the market that counts instead of the product. The foremost requirement is to determine which products and services people are ready to buy through online sources. For this purpose, you will need to search the existing markets and activities of online users thoroughly. Take into account the things people discuss on forums, find out which keywords are people searching and finally check out the websites of your potential competitors. Finalize a product or service for which there is already a market.
2. Give your business a face- Create a website:
Once you have decided the product or service that you are going to market, you need a website. Now getting a website created may be very daunting for some people as the general perception is that you need to spend a lot of money for a decent website. But with so many options available nowadays, you can easily create a site for very little money or even for free (minus the domain and hosting costs). Creating a website involves 3 basic steps – Registering a domain, choosing a webhost, designing the website.
Register a Domain Name:
You can easily register a domain name from sites like Godaddy.com. Make sure that the domain name represents your business niche. Having an exact keyword match domain used to be great till recently but due to the recent algorithm changes it is no longer relevant. But still it is a good idea to include a keyword that represents your niche in the domain. Or you can use your brand name as a domain if you want. Make sure to register a .com domain if possible. You can get a .com domain for around $10 per year (INR 500).
Choose a web host:
Once you have selected the domain name, you need a web host for your website. I use Godaddy.com for all my websites and though it is not the most popular option for hosting, I have not got any reasons to complain till now. Hostgator is another popular option. On both these websites, you can get a hosting package for about $60-$80 (INR 3000-INR 4000) per year. Though there are even cheaper options, I won’t recommend going for them as the service may not be good.
Build a website:
Now comes the tough part- building the actual website. If you don’t have a lot of money to spare for your website design, you can go for free website builders or CMS. One of the most popular options these days is WordPress. Creating a WordPress website is really easy and anyone can do it without any HTML or coding knowledge. You can search YouTube for some helpful tutorials. I plan on posting a tutorial creating a WordPress website soon. So you may check that later.
If you are planning on setting up an online store, you can check DIY options like Ecwid. Ecwid has a free WordPress plugin and is really easy to set up. Also if you have a PayPal account, you can easily set up the payment feature too without the hassle of setting up a merchant account. Once your business is established, you can explore other payment options.
Please note that the free DIY shopping sites are ideal for small stores only. When you plan to extend your store and include more functionality, you may need to hire a professional web designer.
Whatever option you choose for creating a website, there are a few things you should take care of. The website should have clear navigation, informative content and should be very user-friendly.
Before you set out to create the website, I suggest you to first work on your website copy. Content is the king may be a cliché but it really is the king. You need an attractive copy to drive visitors to your website as well as for the search engines to rank your website. Also include an opt-in offer to collect email addresses. Add a Facebook “Like” or “share” option on your website as well.
3. Drive traffic to the website:
This is the most important step and is a defining factor for a successful online business. If there are plenty of visitors on your website, the chances of conversion are better. Moreover you can monetize your website through Google Adsense, paid ad slots as well as Affiliate Marketing if you have a decent traffic.
For driving traffic to your website, you must make your website relevant to search engines and that’s where content comes. Content is the king may be a cliché but it really is the king. You need an attractive copy to drive visitors to your website as well as for the search engines to rank your website. You can do a keyword research first and then use the targeted keywords in your content intelligently to make it more searchable. You must keep your website content fresh and up to date. Other ways to drive traffic is to use social networking websites like Facebook and Twitter to target the niche market.
Apart from organic traffic, Pay-per-click advertising is an easy way to drive traffic to your new website. The ads show up on the search pages immediately and allow you to test various keywords. Also they have flexible prices, headlines and selling approaches to choose from. You can also find the best keywords through these ads and use them on your website copy and code to increase your ranking on search engines. You can also use Facebook ads to get the attention of users at a low cost.
As you begin to drive traffic on your website, make sales and try to win customer loyalty by providing an excellent service. Establish an expert reputation in your field and keep your customers up-to-date via newsletter as well as social networking websites. There is almost no end to business expansion after the first hard steps but it’s all worth in the long run.
There are many ways of earning money. Some try doing job, some business and so on. However opting for business needs few skills in earning profits. There are various ways to become successful in your business , but being a successful person in a dream project is important.
Do you want your business to grow? Are you aiming for profits? Want to plan a successful business venture? Then here you go with the best 7 golden rules to plan a business project
1. Business structure: First and foremost to start a business the entrepreneur should begin with a good idea. A plan sheet should be created for all resources, revenues, income estimation, expenditures, profits and loss. All these are to be itemized and should be inventory. The person should have the best business skills and right leadership qualities to run a business.
2. Developing the business plan: Whatever ideas come up during a meeting can be written as a document so that it helps you to utilise the ideas. Take advice from a financial advisor who can help you out in all aspects. Build a plan so that you are ready to launch any kind of business. According to the firm, seek investors and financiers.
3. Location and selection: The location of your firm should be able to grab opportunities and should also be accessible from home or any website. Choose a site where the rent is within the budget, flow of visitors and traffic is more. For example: if you have any cloth franchise, then you would get more business if it is in public display rather than in secluded area where not many would notice it. Consult an attorney before taking the place for lease or signing it.
4. Must and should: Necessary licenses and permits should be taken. Permit should be taken from local municipalities and nearby residents. If starting any medical, small scale industry or any alcoholic businesses then make sure all the permits are taken as it can create a problem if ignored. The chosen business name should be registered by a corporate officer.
5. Purchasing items: Depending upon the firm the equipment’s, goods, tools are purchased. This may include machinery, computers and necessary inventory and supplies. This may be a burden to the investor as the machinery is very expensive. A start-up investor may not have sufficient cash. He can opt for any business loan, personal loan or payday loans. Once he gets profits on his businesses he can repay the money taken.
6. Advertising: This is another major part of the organization were the propaganda should be outlined in order to get profits and good fame. This can be done by paper work, online advertising or any internet marketing. Advertise your company in order to gain customers. Create a good website with related information and contact information. This can be useful for selling goods on internet, sending e-mails and receive feedback.
7. Sharing: Not only investments and profits even the loss should be shared by the partners. The ideas, views and all stuff must be mutually shared. The person should be capable of taking the pitch of an idea.
So these are the 7 golden rules to plan a successful business venture.
This is a Guest post by Michelle, a tech writer from UK. She is into Finance. Catch her @financeport
If you are a small business owner, you probably know how difficult it is to get finance for business, particularly for a first time small business entrepreneur. No need to hold off your dreams just because you are unable to get funds from bank or other sources. If you are unable to get a business loan, yet you are sure your business idea is going to work, you can turn to your friends and family for getting some funds. Taking money from friends or family is always considered a risky business and you have to be very tactful as well as truthful so that you don’t jeopardize your relation with them.
But you need to take the risk and go ahead with your plan if you want your dreams to come true. Here are some tips to help you get some cash for your startup:
1. Seek the right time:
You need to be patient and wait for the right time to ask for money. You cannot exploit a happy family moment to ask for money. Never ask for money when someone had a bad day or a fight, chances are you won’t be helped.
2. Show your faith and passion:
When you ask for money and tell them about your business plans, show optimism and faith in yourself. If you say stuff like that ‘I will try but’ you will end up having no money at all. So just stay upbeat, be very confident and share with them a colorful positive picture of your vision. Remember that no one will believe in you if you won’t believe in yourself.
3. Be Respectful and keep the right attitude:
If you are asking for their input in your dream and the project, they will obviously get involved and give you suggestions. So listen their suggestions, keep them updated about your project details and show respect if they stay around you. No one wants to see their money going down the drain so if you are actually taking their money, you are giving them a right to get involved.
4. Present a complete plan:
Nothing gets the confidence of a person than a neatly written down well sorted plan. If you want to go an extra mile to get the confidence of your family and friends, take the pain of planning out in a well-written format. You will surely impress them with your planning and dedication.
5. Sign an agreement:
Most people overlook this important point while dealing with friends or family, but let me tell you, it will save you in tough times. If they agree to give you some amount of cash, write down the agreement clearly, set down rules and mention the risks. Get it signed in the front of at least one informal witness.
6. Choose someone who can afford to lend:
When approaching a friend for money, make sure they can afford to lend or lose the money. Do not get the money from someone in dire need of cash themselves. Also ask for the minimum amount not the maximum.
Always keep the above points in mind before approaching a friend or family member for a loan for business. We all know how relationships can be ruined if one is not careful and not invested enough in the new business idea. Don’t ever make that mistake!