Categories: Business

7 Low Cost Business Ideas For 2020

There’s no better time to start a business than today. There’s millions, if not billions, of people all over the world typing searches into their google search bars, looking for services, seeking out advice, trying to find products. And it’s never been easier to help them.

 

With numerous online platforms, marketplaces, and social media sites you can have a business up and running within a day!

 

So, whether you’re looking to get into the massive business world or starting off a smart side hustle, you’re probably hoping to put your best foot forward. And to put your best foot forward, you’re going to have to start off in the right place! So, here’s just a few of the hundreds of ways to get your business started.

 

Online courses and coaching

It is now easier than ever to share your knowledge or expertise through online courses. There’s always students, beginners, travellers, and just curious people out there who are looking to learn. Offer them online coaching classes and build an online community to help bring in new clients. There are plenty of online platforms such as Thinkable to get started on but you can even find your niche by setting up a Facebook page to connect with potential clients.

 

Dropshipping

This is a relatively new business idea on the e-commerce scene meaning that there are low competition and high profits to be made. And you know what that means? That means you should start a dropshipping business. But fear not! Start-up costs are low, in fact, they’re close to zero. All you have to do is contact a third-party supplier and offer to sell their products for them. If you make a deal, you advertise the products at your own set price and make the difference in profit.

 

However, you first must make a sale, and this requires being well-versed and experienced in marketing. But once you do, all that’s left to do is alert the company, who’ll then ship the product to the customer. And that’s it! You make a profit and you don’t even have the responsibility of owning inventory.

 

Digital marketing services

Businesses are always looking for a way to advertise online. And why wouldn’t they be? It increases their exposure to potential markets and can easily lead to skyrocketing profits.

 

However, there are some local and more small-scale businesses that may not have quite yet discovered the online world. Perhaps they’re not quite sold on the idea yet or simply don’t have the tools to get started.

 

This is where digital marketing services come into play. Digital marketing isn’t just as simple as starting up a business social media account or paying for ads. It involves incorporating every aspect of a business into an online brand image and utilizing a strategic marketing plan. A good marketing plan includes SEO content to increase traffic, graphic design, image editing, and much more.

 

If you think you can handle this, then digital marketing might be the business for you. What’s more, is that it’s a cheap and easy business idea with growing demand.

 

Social media management

It’s no secret that social media reigns supreme online right now. Almost everyone is using it to create their own brands or sell their image. However, as an influencer’s social media presence grows, they may find they don’t have time to sustain every account. And a neglected account can lead to less traffic and unhappy customers.

 

This is where social media management comes in. A social media manager replies to DMs and messages, schedules posts, deals with advertising companies, collects possible collaborations, and might even write captions!

 

If you think you can do this and even have a little bit of experience using social media, you could be in the running to becoming a social media manager! All you need is to advertise yourself, and to own a phone or a laptop that you can do your work off!

 

 

Creating websites

If you can code well enough to create a premium site, then you’re already in high demand. Startups, small businesses, and pretty much everyone else these days are always looking for someone to make the website of their dreams for them.

 

If you think you can do this, why not start selling your skills online? It’s as simple as advertising your services and gaining a customer base. You could even create a gig on online marketing services such as Fiverr or Upwork.

 

Start a blog

When you start an online blog for business, you’re most likely going to sell one of the following three things:

  • Your time & skills (coaching/advice)
  • Your own products (e-commerce)
  • Someone else’s products (affiliate marketing or adverts)

So, as you can see, it’s not all going to be writing about what you love or are passionate about. This is a business after all, and it must be scaled up and somewhat professional.

 

Fortunately, it’s almost entirely free to start a business blog and you can start raking in the cash if you follow some simple guidelines:

  • Install themes and any relevant plugins onto your blog to make it more user-friendly
  • Ensure your content is written with SEO in mind. Download some SEO tools to find popular and relevant keywords.
  • Choosing the right domain. You can either start free on blog sites such as WordPress or web hosting for as low as $2.95/month with a company like Bluehost.

It may take some time to see any substantial growth in your blog but don’t give up – once traffic starts coming, it only builds from there!

 

The online business industry is growing exponentially fast every year, so be sure to hop on that opportunity now and fill up any niche that you can satisfy! By picking one of these business ideas and sticking to it, you’ll eventually bring in enough income to start thinking about other business ventures. And that’s called being a successful business person! So, why not get started today and put what you’ve learned here to use?! It’ll barely cost you anything and you can rake in the profits.

Peter Garret

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