ENGLISHKUPASONLINE.COM-Want to start a business but don’t have much capital? Don’t worry, there are plenty of business opportunities in 2024 that you can try without spending a lot of money. With a bit of effort and commitment, you can earn up to $650 per month. Let’s explore four types of businesses you can start with minimal investment!
1. Affiliate Marketing / Affiliate Agency
Affiliate marketing is a business you can run without having your own product. You simply promote other people’s products through affiliate links, and every time a purchase is made through your link, you earn a commission. All you need is social capital and time capital. Social capital here refers to the network or followers you have, whether on social media, blogs, or websites. Time capital is your willingness to create engaging content and manage promotions.
2. Service-Based Business
Service-based businesses are types of businesses that never go out of style. You can offer services that match your skills, such as writing, graphic design, consulting, or even cleaning services. Here, you’ll need human capital and time capital. Human capital is the skills and knowledge you possess, while time capital is the time you dedicate to running the business. With good service, you can gain loyal customers who will keep using your services.
3. Product on Demand
Product on demand is a business where you only produce items after receiving orders. For example, you can create and sell custom-designed t-shirts, mugs, or tote bags. You only need social capital and time capital. You can promote your products through social media or a website, using platforms like Printful or Teespring that handle production and shipping. This way, you don’t need to keep stock and can focus on marketing.
4. Drop Servicing
Drop servicing is similar to dropshipping, but instead of selling products, you sell services. For instance, you can offer web design services but outsource the actual work to freelancers. Here, you’ll need human capital and social capital. You need skills to find quality freelancers and a network to promote your services. Time capital is also crucial for managing communication between clients and freelancers, ensuring the project runs smoothly.
Types of Capital Needed
To run the above businesses, you don’t need a lot of money, but you will need other types of capital, such as:
Money Capital: While money is important, you can start with a small amount or even no money at all.
Human Capital: Your skills, knowledge, and experience are valuable assets in running a business.
Social Capital: Your network and connections can help promote your business without additional costs.
Time Capital: The time you dedicate to developing and running the business is crucial. The more time you invest, the greater the chances of success.
So, what are you waiting for? Start your own business now without worrying about large capital. With diligence and the right strategies, earning $650 per month is not just a dream. Good luck!(OLN)
