5 {{ upvoteCount | shortNum }}
5 {{ upvoteCount | shortNum }}

What should I do for start up capital?

by JeffDC89
4 replies
Hey guys i need your help since I cant find a job and my main business isn't ready yet (waiting on graphic, designers and other hired VAs). I need to start a side business for consistent cashflow. Below is what i'm working with:

Budget: $50

Possible Side-Business Ideas

#1
Essay writing for local college students
Outsource to fiverr writers(I've done before for a couple family members in college)
Promotion Idea: Craigslist, Flyers, maybe a cheap facebook ad
(I forgot I've gotten one customer from craigslist before $50)


#2
Powerpoint creation for local college students
Outsource to fiverr creators (done before for family)
Promotion Idea: Craigslist, Flyers, maybe a cheap facebook ad
(No customers never tried outside of family)

#3
Become an ACT tutor for high and middle school students
Get paid more but have to do the work myself at first.
Promotion Idea: Flyers
Devote more time to study and build skill of being a good tutor.


What do you guys think? Is there something you had success with sooner.
#capital #start
Avatar of Unregistered
  • Profile picture of the author davidreese
    #3 will most likely have a greater lifetime value / repeat business from the start.
    A friend started a similar business and he is slowly moving away from his full-time job.

    I would pick the one with the highest price point / life time value that I enjoyed doing.

    It is easier to sell something you want to do than something you hate to do.
    Signature

    David Alger
    Thumbtack Bugle We Get the Word Out

    {{ DiscussionBoard.errors[11286614].message }}
    • Profile picture of the author JeffDC89
      Originally Posted by davidreese View Post

      #3 will most likely have a greater lifetime value / repeat business from the start.
      A friend started a similar business and he is slowly moving away from his full-time job.

      I would pick the one with the highest price point / life time value that I enjoyed doing.

      It is easier to sell something you want to do than something you hate to do.
      Thanks David, I actually went with #1 and now have over 100 customers its seasonal though I made a few thousand bucks not bad for $13 investment on business cards

      But for the past month and a half, i've been studying fb marketing for local businesses very intriguing, I have a cousin who does it already with his girlfriend and they average around $9k per month. I don't think they know about the warriorforum and other IM resources like most of us they spend like 12-14hr days managing ads for clients at their apartment, i plan to use whitelabel provider to ramp things up.

      I think i will love doing this full time and grow into an agency pretty soon.....
      {{ DiscussionBoard.errors[11289741].message }}
  • Profile picture of the author John Jonas Phil VA
    Would it be possible for you to do all 3 or the first 2 at the same time? If the goal is the make money fast why not launch all three and see which one gets you customers faster.

    Since you're outsourcing #1 and #2, the amount of work required wouldn't be a problem.

    #3 is takes time but I think this would be a good opportunity for you to network with the parents, who could be potential clients.
    Signature
    Hire a Filipino virtual assistant and make your business better through outsourcing.
    {{ DiscussionBoard.errors[11289778].message }}
    • Profile picture of the author JeffDC89
      Originally Posted by John Jonas Phil VA View Post

      Would it be possible for you to do all 3 or the first 2 at the same time? If the goal is the make money fast why not launch all three and see which one gets you customers faster.

      Since you're outsourcing #1 and #2, the amount of work required wouldn't be a problem.

      #3 is takes time but I think this would be a good opportunity for you to network with the parents, who could be potential clients.
      Thanks for your advice but this was really a side hustle while i studied my main venture fb agency for small businesses.....

      I actually like B2B better..
      {{ DiscussionBoard.errors[11290174].message }}
Avatar of Unregistered

Trending Topics