Need Capital to Start a Business? Here are 20 Business Ideas to Raise Capital
Is the lack of capital the reason you are yet to start a business? You are not alone. There are millions of people across the world who give this excuse as well. However, the truth is, the lack of capital has never truly held anyone back from going after their dreams. The power to fulfill your dreams and aspirations lie within you and it is up to you to unleash your inner power and make your dreams a reality.
Now, you may be thinking, here goes the motivational speech again! Well, this might sound motivational or perhaps, it might even sound like a cliché, however, the truth is having no capital is not a valid reason for dream abandonment. It doesn’t matter how grand your idea is, if you have a will, there will always be a “way”.[Great Read: Blazing Trails at 22: The Inspiring Story of Stephanie Ode Wilson That Will Awaken Your “Achiever” Spirit]
When many people think of how to raise capital, they look outward. This means they look up to family members, friends, grants, loans, etc. to raise money. And while there’s nothing wrong about looking outward to raise capital, this method of raising capital is not all that there is. One other valid approach is looking inward to determine if there are any embedded skills that can be explored and used in generating enough money to fund that big dream.
An example that readily comes to mind is Jeff Bezos, the founder of the retail giant, Amazon. As a kid, Bezos always had been fascinated with space. Even in his adult years, he always dreamed of space exploration. However, he didn’t make space exploration the first thing to go after when he started out. Even, today, when everyone tags Amazon as the earth’s biggest store, Amazon did not start out that way. He focused on a niche (books in this case) and worked his way up from there. Today, not only is he in charge of one of the top three most profitable companies in the world, but he has also made his dream of space exploration come true via his exploration company known as Blue Origins.
If you have a grand business idea but finding it hard to raise enough capital to start, it’s time to look inward. What are some of the skills you have that you can put to use? Think about this question well and begin to write those skills on a piece of paper. You’d be surprised by how many skills you’d come up with. Analyze each skill and find out which of the skills match what’s needed in the marketplace.
Choose a skill that you can build on overtime.
What if you do not have a skill? What should you do? Well, many people who claim they have no skill fail to dive deeper. There is no one born with zero skills. Every one of us is born with at least one skill that is valuable to others. It is your responsibility to know what skills you have and how you can make those skills work in your favor.
Now, if you believe you have tried to list the skills you have and still unable to come up with a list, it is still not a valid reason to throw your hands up in the air and give up. It is time to ask others for help. You can ask a mentor or a friend to share some advice with you on the things you can do to generate income. If you don’t have any mentor or friend, then you can buy books, listen to podcasts, attend training and observe what’s going on around you. If you explored these options and still can’t make headway, then here are 20 solid business ideas for you to raise capital and build your dream business.[Great Read: 5 Fast Ways to Make Your Customers Say Goodbye to Your Online Business]
1. Cleaning Business
If you are the type who is willing to make an area clean and get rid of filthiness, you should look no further than starting a cleaning business. You do not have to do the job yourself; you can always hire people and manage them as your independent contractors.
These days, there are so many working professionals who are too busy to maintain a clean home. All you need to do to introduce your new business is by creating flyers. Select a neighborhood of your choice and drop the flyers in their mailbox. Be sure you are ready to provide the service before you announce your business to the public. You might need to buy some cleaning supplies upfront which may cost a couple of hundred dollars. You also need a car or some other method of transportation.
If you have writing skills, why not unleash it? Come to think of it, wouldn’t it be fun if you can raise capital from a skill you already have? It’s always a good feeling when you can look inward and bring out the best in you. As a blogger, the opportunities are endless. You can either write for your audience or write as a ghost worker for another brand. It’s all up to you and what is the best part? No capital needed, just your brain!
3. Event Planning
This is one of the business ideas you can start with little to no capital and build to a brand that’s truly amazing. If you determine that event planning is a skill you have or can build on, then you can use that as a stepping stone to launch your dream business in the near future.
4. Virtual Assistant
The world is now a global fast-paced village. If you are proficient in using Microsoft Office and you believe you can help others meet their deadline, then think about “virtually” assisting them. You can choose your own time and schedule, plus you have the comfort of working from your own home. Where will I get people to pay me money for being their virtual assistant, you may ask? All you need to do is to visit freelancer.com. This website provides lots of resources for you. To offer this type of service to people, you obviously need a computer with Microsoft Office and of course internet access.
5. Professional Organizer
Are you passionate about a clutter-free life? Are you meticulous about how your bookshelf looks? Then maybe it’s time to introduce your skills to the world. You will be very surprised at how many people are willing to pay for your services. All you need is to print out some flyers and have some business cards handy. How cool is that?! You don’t need capital.
6. Graphic Designer
You’ve got an eye for graphic designing; why not take it to the next level? All you need is some expertise and probably a design software installed on your computer. Fiverr.com, hiremymom.com, and 99designs.com are great websites that offer freelancing opportunities. How much do you need to start? Not much!
Are children your “thing”? Nice! Why not put that to great use by starting a mini daycare. A lot of parents are looking for responsible adults who will help take care of their babies while they go to work. Once you get started, you can save up until you have enough to rent a space outside your home if you so desire. To start this, you need a few hundred dollars if your home space needs to be staged.[Great Read: 5 Reasons Why You Should Join Onpoint Small Business Success Elite]
8. After-School Tutoring
You had good grades in high school (and college) in the major course work. Why not consider starting after-school tutoring for kids in high school or you can even start a private tutoring session for kids with influential parents. Investment? Your brain and a few business cards.
Turn your camera into a money-making machine by taking your love for photography to the next level. Step up your game and start charging your clients. The good thing is that you can start small, learn on the job and expand gradually. Your investment? A few hundred dollars.
10. Computer Teacher
If you know the basics, you can teach them to others depending on your target market. It’s easier than you think and much better than the white-elephant projects you’ve been thinking of. Get started today! Your investment? A few hundred dollars.
11. Personal Stylist
You have a lot of contacts who are influential but too busy to shop and dress well, so you might want to offer them your personal styling services. They’ll gladly patronize you. Investment? $0.[Great Read: 6 Things to Note Before Starting a Business]
12. Style blogging
Each time you step out, you do so with style, class and grace. Or maybe you’ve noticed that anytime your friends are planning an outing, you are usually the go-to person who shows others how to match ordinary pieces of clothing and make it look extraordinary. Rather than just doing this for the fun of it, you may decide to take it to the next level by starting a style blogging brand. With this type of business idea, you do not need capital for a start. All you need to do is create a free blog site and social media accounts and start blogging away.
Of course, you’ll need to love taking pictures, since this type of venture requires more visual content than words. If you have a well-defined target audience, speak their marketing language, and if you are consistent enough, people will be willing to pay you in exchange for the value you bring to the table.
If you’ve always been the go-to person for all handy jobs as a child, you might also want to explore that skill as an adult. There are many people looking for handymen to fix some “broken” pieces of their lives. It’s time to pack up your tools and get to work right now. It will pay you well. How much does this start-up cost? Not much.
14. Copy Writer
Yes, all you love to do is to captivate with your words. You’re humorous, filled with suspense and daring. Rather than updating your personal social media account for Facebook “likes,” get up and start charging for your services. Investment? $0
15. Speech Translator
You’ve got a gift for language? Turn that to good use other than bragging to your friends about it. Be a speech translator and charge money for it. Simple? Yes, it’s that simple. Start-up costs? $0.
16. Fashion Designer
Your mom bought you a sewing machine as a kid, and even as an adult, you make your own masterpiece but are too “busy” to take the next step. Think again as time and tide wait for no man. Stop the procrastination and start your fashion designing business. Investment? A few hundred dollars. You can then buy more things as you grow or save your profit and then start the business of your dreams.
17. Social Media Strategist
You are familiar with the ins and outs of all social media platforms and can help people set their accounts up in a breeze, why not consider being a social media strategist? You will learn more along the way. Investment? $0.
18. Tech Instructor
Technology is easier for some than others. If you are the tech-savvy type, it’s time to put those skills to great use. Monetize your technology skills, cash in and use that as a stepping stool for even greater heights ahead.
19. Musical Instrument Instructor
You understand the technicalities of playing all the musical instruments. You dream it, live it and play it; now is the time to start an instructor business. You can set up sessions for private and group tutoring. All you need is space in your home ($0 investment) or space outside your home (a few hundred dollars).
20. Talk Show Host/Podcaster
If you have a topic you are an expert on, the voice to capture the attention of your audience for long periods of time and the tenacity to defy all odds, then podcasting is something you can consider doing on the side to raise funds until you are able to execute your grand idea.
Please note that you do not need to have the skills to “run” with any of these ideas but you can look closely into any of these ideas and try to see which of them catches your fancy and then make a plan to get trained and acquire some skills. From there, you can begin a business that will afford you to raise capital and launch your grand business idea.
Thank you for reading. Which of these ideas would you like to explore? Share with us in the comment box and remember to share this post with a friend.
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