7 Types of Businesses You Can Start with Almost No Cash

5 Ideas for Starting a Small Business without Having an Office - let's reach success

This post was written by Sabrina Báez.

Thousands of people are uncomfortable working for their employers. There are many reasons to this. Some don’t find job fulfillment working for others, while others simply wants to be their own bosses. Becoming an entrepreneur is a sweet adventure, but it comes with a lot of challenges.

The road to entrepreneurship is filled with many ups and downs. But if you are not focused on your goals, the obstacles are enough to hinder you from reaching your set targets. If you have a big and workable business idea, you will develop the capacity to jump the hurdles.

Kick-starting a business requires strong planning. There are so many resources on How to Start an LLC that can help you.  You can start your business with or without the help of business developers.

This article will guide you on 7 types of businesses you can start right now with almost no cash. Here are the details:

1. Home Services.

While you are at home, there are many services you can provide and still make huge money out of it.

For example, babysitting is one good business that can fetch you some money. You can do it virtually from the comfort of your home; you don’t need a corporate office for it.

Venturing into babysitting business doesn’t require any capital; you don’t need to save any money to start it. Other similar businesses you can do at home include snow plowing, landscaping, pet sitting service or canine-strolling etc.

2. Consulting.

Consulting is another good business you can start with or without any cash. If you are knowledgeable about a particular field, you can provide guidelines to those in need of such service and still make money. Consulting is not an easy business as it’s time-consuming.

However, many organizations are willing to pay for your expertise.  So, since they will be paying you, you need to do your best. This is the only way they will keep coming back or keep referring your services to their contacts.

3. Repair or skilled based services.

This type of business doesn’t require funding. All you need to do is to know how to repair something of value. If you are skilled, you don’t even need an office to start. You can start virtually from anywhere. Besides your skills, the next things you need are tools or equipments.

This is why youths or graduates are encouraged to learn one skill or the other. So, while you are waiting for white collar jobs, you can keep yourself busy by rendering one service or the other to those that may be in need of it.

4. Broker.

This is one of the lucrative professions where you will be making lots of cash without even investing a dime. All you need to do is to understand how to sell products to clients through wholesaling or drop shipping.

5. Blogger.

Becoming a blogger is another great avenue to make money; you don’t money to start hitting it big. All you need is the talent to write or share your experiences to the world through your blog.

If your blog is interesting, many online entrepreneurs will be happy to be doing business with you. They can share their contents with you, while you charge them a fee.

6. Micropreneurship.

You can create wealth for yourself by taking advantage of shared economy opportunities.

For example, you can rent out your home or car to those that need it, and make extra income with it.  The money you make from here can be used to start up a bigger business. That’s the so called micro entrepreneurship.

7. Resale.

Resale is an easy and one of the surest ways of making money. You can simply acquire a product and resale to someone at a higher cost. You can acquire these products through wholesaling or drop shipping.

No need for cash to be engaged in drop shipping, but you will need some money and space upfront in wholesaling. The idea of resale is that it will give you more money and flexible time.

Which one of these business ideas that you can start with almost no money do you like the most?

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How This Family Guy Makes $10,000/Month Online Teaching Others How to Make, Save and Invest Money

How This Family Guy Makes $10,000/Month Online Teaching Others How to Make, Save and Invest Money - Interview with R.J. Weiss from TheWaystoWealth.com

This is an interview-style post with R.J. Weiss from The Ways to Wealth.

Hey R.J. What’s your background and what do you do?

I blog about all things personal finance at The Ways to Wealth.

Before I went full-time into blogging, I spent ten years in the financial services industry. Specifically, helping families buy the right type of life insurance.

During my time with a full-time job, I’ve always had different side hustles going on. From freelance writing, Amazon FBA, conversion rate optimization, to website design — there were many projects I pursued outside of work.

How did you start your career in finance?

I got started in finance straight out of college working for my the family insurance business. As I love the financial planning side of things, I choose to specialize in life insurance planning. This led me down the path to obtaining the CFP® Certification.

What made you start blogging?

The Ways to Wealth, which I started in 2016, has been my 5th blog.

The others mostly fizzled out most due to a lack of interest. But, in 2009 I started a personal finance blog called GenYWealth.com (no longer around) that had some success.

The idea GenYwealth.com was to write about what I was learning about studying to take the CFP®. The blog was, by all means, a success. I was able to gain valuable knowledge, pass the CFP® exam, earn some extra money and build up a good community.

I then took this knowledge and started a business blog, which allowed the insurance agency I was working for to generate leads.

I started The Ways to Wealth because my passion is personal finance–from investing to travel hacking, I love the challenge of optimizing my finances.

How was The Ways to Wealth born?

I didn’t have much of a plan for starting The Ways to Wealth when I purchased the domain name.

I was actually thinking it would be a niche site, which was inspired by Pat Flynn’s niche site duel. Then, I came across the income reports of Michelle Schroeder-Gardner and wisely changed direction to a more traditional blog.

This change came about 6-months after starting to blog.  I did a timeline of the site in one of my income reports.

What worked best when trying to grow the site?

I had a decent knowledge of SEO. So at first, I started growing the site with email outreach. One of the first posts I had about best investing books of all time, had about 15 links to it.

This was nice to start with but was quite slow to build up, as it can take a while to earn Google’s trust.

The big turning point came when I started to understand Pinterest. I spent a few frustrating weeks on the platform, then it finally started paying dividends.

I went from about 100 sessions a day to 1,000, which was huge for me at the time.

How did you get to 3 million monthly viewers on Pinterest?

the ways to wealth pinterest 3 million monthly views

I lay out my Pinterest strategy here. But at the core the idea is to:

1) Write high-quality content that Pinners want to click through, read, and share.

2) Pin to my own and high-quality group boards, with a keyword-rich description.

3) Continue to Pin my best pins across my own boards/group boards, ruthlessly eliminating Pins that don’t perform well.

One thing to keep in mind is impressions don’t mean much on Pinterest. What counts are clicks to your website. So, you want to design not for impressions but clicks.

What aspects of the online business are you outsourcing or automating and how?

The first thing I outsourced was Pinterest design. I’ll design about 30-40 pins a month, so this was big time saver for me.

Of course, it took some work to get going. At first, I hired 5 or so people on Fiverr. I found one decent designer but the work quality deteriorated over time.

I then went to Upwork and posted a job for a  graphic designer. I found a great team down in Argentina, who I’m very happy with.

I’m currently experimenting with working with a ghostwriter. A few of my latest posts have been transcribed from my recording, with the ghostwriter making sense of it all.

I can compile about 3 posts in 90 minutes, then take another 90 or so minutes to prepare them. Saving me around 3-4 hours per post this way.

What’s your main income stream and why do you think it works for you?

My main source of income for the blog is affiliate revenue. It works because the partners I do have are high-quality businesses, who deliver value and solve real problems. This makes it easy to naturally link to such a partner.

When did you start making more than $10K/month and what was the turning point?

My first month over $10K was in January of 2018. In December of 2017, income was around $3,000 and in July of 2017 around $500. So, it was definitely a jump.

What happened then in January?

First, personal finance is at its peak interest in January.

Second, I had multiple Pins go viral.

Third, in November I started driving traffic via Facebook to the site. So, in January I could take campaigns I’d been fine-tuning for a few weeks and scale them.

How do you balance work and family life?

I have a routine I stick to Monday through Friday.

When inside of my designated working hours, I work. When outside of these hours, I’m not.

This is a lot easier said than done. But the thing important for me is not to take work everywhere I go. This means I don’t have any apps on my phone that are work-related (email, analytics, etc..)

What are you 3 best finance tips for newbies?

  • Focus on your savings rate. How much you save is the most important decision you’ll make.
  • Small incremental improvements add up over time. My favorite example is increasing your savings rate 1% every quarter, means you’ll be saving 20% of your income in just 5 years.
  • Study happiness. Become a student on how to increase your level of happiness. The natural result is you’ll want less overtime, making the game of personal finance a lot easier to win.

What books, blogs or podcasts help you stay motivated along the way of growing an online business?

I read a fair amount to keep fresh ideas in my head.

My favorite podcast is The Tim Ferriss Show.

Two blogs I enjoy reading are:

Farnam Street
Barking up the Wrong Tree

And as far as books. I try to read one a week. A few books I would recommend to online entrepreneurs would be:

Deep Work by Cal Newport
The Compound Effect by Darren Hardy
The Four Hour Work Week by Tim Ferriss

Pin this post if you enjoyed the interview.

Check out my interview with R.J. from TheWaystoWealth to see how he entered the finance niche, started making money blogging, began bringing traffic from Pinterest and monetizing it with affiliate marketing, and is now making $10,000/month from his online business. #blogger #interview #blogtraffic #incomeideas #income