People often assume that all they need is an idea to start a business. However, that is far from the truth. While an idea is important, it’s more crucial to be able to execute that idea effectively.
To do this, two things are required; skills and funds. If an entrepreneur doesn’t have the skills to create a proper vision for the business or is unable to manage the staff efficiently, the business will never take off, no matter how great the idea is. Similarly, if you don’t have sufficient funds to execute the idea, there’s no business at all.
Unfortunately, this occurrence is not uncommon. Many great ideas are shunned or they never see the day of light due to lack of funds. After all, funding has always been the base of an entrepreneur’s existence. However, not every business requires a huge wad of cash. Some of them require hard work and passion. And, there are great examples of entrepreneurs who started small but are the Moghuls of the business world today.
- Mark Zuckerberg started Facebook out of his dorm room at Harvard with close to no money at all
- Bill Gates formed Microsoft after he dropped out of college and was out of a job for two years
- Charlie Hurley and Steven Chen started YouTube with just their development skills to share videos with their colleagues easily.
In this article, we have covered business ideas that can be initiated under INR 50,000 and can grow into global empires with just hard work and skills.
1) Join The Blogging Community
With the rise of ‘digital’ across the globe, quality content has become increasingly important. This niche has given birth to a new industry, entirely known as the blogging community. A recent study revealed that nearly 77% of internet users read blogs. The demand for learning new things get information, or just quick, entertaining reads is enormous. You can write about a host of sectors, including finance, entertainment, fitness, food, technology, movies and entertainment, hacks, lifestyles, and many more.
Moreover, joining the blogging community is relatively easy as all you need to a website and an imaginative mind. Eventually, as your blog gains more traction, you can start building a business out of it by charging readers to get exclusive information. You can also start affiliate marketing by displaying advertisements on your website and charge brands whenever a visitor clicks on the ad. On average, bloggers can earn close to Rs 50,000 and up to 25 lacks a month!
2) Vlog Your Way Through The City
Vlogging, as the name suggests, is a hybrid of videos and blogs. Considering the fast-paced lifestyle that humans are leading today, taking out time to read lengthy blogs aren’t always possible. This gave birth to vlogging. While you can bookmark blogs you want to read for a later time, vlogs can be consumed during those short 5 minutes break you take while working. Vlogs can be of any size and on any topic. It mainly consists of people sharing their experiences, including holidays at exquisite locations, fashion shopping, and even fitness regimes.
Out of all this, city-based vloggers are not only the most popular, but they also have the most opportunity to get benefits. Vloggers with a lot of followers, often known as influencers, charge brands to display or recommend their products during videos. The cream of the crop with an overwhelming number of followers, get paid to visit new locations; the cost includes their travel, stay, shopping, etc.
3) Social Media Handler
Even the biggest of businesses or professionals, including doctors, bloggers, dentists, lawyers, and others, need one thing to succeed; social media. If a business wants to connect with their consumers, they need to maintain an interactive social media presence. You can be the person who connects brands with consumers through various social media platforms. By gaining some experience and launching viral campaigns, you can become a sought after social media marketers with brands willing to pay high funds to get your assistance. Moreover, social media is an evergreen market that is flourishing and has great promise to keep growing.
4) Fitness Consultant
People have become more health-conscious due to the rise in various diseases and health problems like diabetes, stress, cholesterol, etc. Today, Yoga is celebrated across the globe with an entire day being dedicated to this form of fitness. This is the best time to launch a business in the world of fitness. You could opt to start a gym, however, not only is it expensive, you will have to face a tremendous amount of competition. Instead, you could consider becoming a fitness consultant. You can provide recommendations to customers regarding how they can maintain their health and fitness.
5) Gifting Industry Through Art & Craft
India is known for its hospitality and socialization; hence, it’s a given that gifting is a prominent part of our culture. According to a study, the total size of the Indian corporate and personal gifting market put together is about INR 250,000 crore. You can leverage from this giant industry too, but to stand out from the competition, you need to do something different. Unique and beautiful gifts made from art and craft are a popular form of gifting. It’s generic and can be given to anyone for any occasion. Hence, starting a business in the gifting industry through art and craft may be the ideal low-budget business you’re looking for!
Now that you’ve started your business, how can you ensure that it reaches the epitome of success? Don’t forget; we’ve got your back.
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Tips To Ensure Your Business Is A Success
Tip 1: Always maintain a presence on Google. Not only does it help spread your name across the globe, but people in the local area will also get the right directions to reach you.
Tip 2: Social media is the best tool to connect with your customers and showcase your product or brand. Make proper use of this platform.
Tip 3: Your customers must be able to find you online as it increases your credibility. Moreover, maintaining an efficient online presence will also enable you to spread brand awareness. Hence, always create a website and maintain social media accounts.
Tip 4: No company can thrive in the competitive market without the help of blogging and search engine optimization. Ensure you launch SEO campaigns that can boost your digital presence, and eventually your business.
Tip 5: Till you gain sufficient traction, it’s recommended to use paid marketing to initiate brand awareness, for example, by launching paid social media campaigns, along with flyers in newspapers, etc.
Also Read – Top 17 Business Ideas from Home to Start1