In the modern age, more people than ever are going it alone. Not so long ago, you had to be a big thinker with deep pockets. But, recent years have seen an increase in your everyday Joe getting a shot at success. If you want to advance and grow, now is the time to do it. With access to the internet and other technologies, the world is more our oyster than ever before.
Of course, the big pocket matter may still be an issue for some. If you want to go all in with a business, it will still cost you. The good news is, there are now options for the empty pocket entrepreneur. Here are some worth considering.
Go into something already established
For a first enterprise, it’s worth buying something that’s already established. You could either buy into a company you’re involved in with the help of management buyout advice, or enter something completely new to you. The benefit of going with a company you already know is that you’ll have some idea of how to run it. But, buying something new opens you up to more possibility.
With both of these options you’ll spend much less to get going. Admittedly, buying companies isn’t cheap. But, that cost doesn’t seem so bad when you consider everything you save. Plus, it’s more likely you’ll get a loan for a company with a guaranteed return.
Of course, jumping into this blindly won’t save you anything. Some companies choose to sell because they’re in trouble, and if that’s the case, you’ll soon be in trouble, too. But, if you take your time and calculate every aspect, this could be the best investment you’ll ever make.
Know the cheapest options
If you have your heart set on starting from the ground, it’s worth knowing the most affordable options. The good news is, as technology has made it easier to start up, it’s also enabled us to keep costs to a minimal. In fact, many enterprises have a starting price that’s less than £100. Here are some of the top ones to consider:
- Blogging
- Content Writing
- Youtubing
- Tutoring
And so forth. If you want to do something offline, there are cheap options there, too. You could, for example, start a cleaning company for a relatively small fee. Have a brainstorming session, and decide which options offer the best return.
Get good with accounts (or get someone to do it for you)
Anyone trying to start a business for less needs to know their stuff when it comes to accounting. If you take your eye off the ball, costs could creep up. You need to know where every penny is going.
If you don’t think you could keep on top, consider hiring an accountant to do it for you. There is some cost involved here, but the small expense will save you a lot of money in the long run. This way, you can rest easy that your spending can’t get out of control.
