15 Low Cost Business Ideas for the Aspiring Solo Entrepreneur

January 24, 2020

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Being a business owner is an exciting and rewarding process, but it can be hard to choose the right business to start. If you’re just starting out, one of the best ways to get your feet wet and business off the ground is by becoming a solopreneur.

A solopreneur is an entrepreneur who builds and runs a business without hiring other people. With the current startup climate one may think they need to come up with the next big thing or raise investment money to get things started. Luckily that is not the case, thanks to the power of the internet which enables a solopreneur to market, manage and build a successful small business.

When starting a business on your own, it’s best to consider what industries you know well, what the startup costs will be and how much time you need. There are plenty of options: trade labor and consulting services to name a couple. The challenge is selecting one that suits you well and will remain stimulating after the first few months.

There’s no need to quit your day job in the beginning. Instead, spend some of your free time researching best practices and industry trends, and most importantly, strategizing. Being a solopreneur can be chaotic without structure and a plan.

If you are exploring what type of business to start, there are tons of resources at your fingertips: from books and forums to free advice and tips. With little to no money, you can build a website or advertise your service online. With a bit of time, research and patience you will be on your way to becoming a solopreneur.

Check out this infographic on 15 of the best low cost businesses a solopreneur can start.

Now that you have a few ideas for a potential business, it’s time to start the research and planning phase. Your operations, marketing and sales are just as important as providing a great product or service, and they ultimately drive your business to success.

Even if you don’t have tons of money to spend on your new solopreneur journey, you can still get things off the ground by leveraging your network and the plethora of free tools available online. Your solopreneur idea doesn’t have to be complex. You might consider low-cost ways to bring in passive income that are as simple as selling your photos online or creating and selling a unique online course.

Good luck with your journey and while you’re at it, here are some coupons from Office Depot to help give you a headstart.

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