Basically, two types of people are there in the world. Those come in the first kind who see the glass half full and those come in the second kind who see it half empty. This experience was intensified for me when I had lunch with an old associate from work and then he began to grumble about how only wealthy individuals could begin a business. I thought he was kidding.
As I sat and listened he yelled for almost ten minutes giving all the explanations he could not begin his own business and get out of the rat race. He talked regarding the high expenditure of start-ups,
franchising, and real estate development. When he eventually came up for air I settled to simply ask a question from him. My dear friend, “Have you ever thought about the businesses that have very low-cost yet very high-return?”
He seem like he had been run over by a truck. I continued, “You are just questioning it the wrong way.” He posed for a minute and said, “Ok, give me some ideas, if you’re so smart.” I said, “Excellent. Oh and by the way let’s make it fun and focus on the ones you can work from home sitting in your pajamas.”
Here I am listing 5 low-cost high-profit businesses I shared with him.
1. Internet Marketing:
Do you own a computer in your home? If you do, you could be possibly sitting on a gold mine. Nowadays people are using the internet for performing all types of things. From a multimillion-dollar enterprise to a young kid who made his empire teaching people how to play music by ear. Every day people are reaching on the internet and seeking their own dot com fortune.
If you are not a technically sound person, one of the best strategies for you is teleseminars. You can offer a class or seminar for your guest with simply a telephone and a conference call line. This can be a useful tool as a lead generator or you can use it to sell your product or service from the seminar itself. A supplemental product can come from recording the class. Once you record the class it can become an instant product you can use to create passive income.
3. Joint Ventures:
The idea of joint venturing could be just for you if you like the concept of not requiring a product or money of your own. This business is entirely the art of the deal. You are paid in direct proportion to your capacity of bringing together two parties who would not know each other, otherwise.
For example, if you combine one company’s products, knowledge,
resources, and partner it with another company’s client list, you get to share in the earnings. And it would not cost even one cent to you.
4. Affiliate Marketing:
You should be aware of Affiliate Marketing it’s all about sharing profit pie while most of the work is done by someone else. There are thousands of products ranging from books, digital downloads, seminars not to mention hard products like cell phones, computers, and other techie stuff. You have to find the products that suit your market and promote them. When someone purchases you get a percentage of the sale. And most amazingly you don’t need to have any inventory or the overhead of a classic business.
5. Information Products:
This is one of the low-cost businesses you can think about. If you have specialized knowledge or you can research and report on it you can make highly beneficial products. For example, one of the quickest ways to succeed is to interview specialists in a high-demand niche.
You can take the information and create various products from the one interview after you have interviewed these experts. Some of these are selling the recording itself, using some of the content to create an e-book or report, selling the transcript of the call, or taking several of the interviews and placing them jointly for an expert tape series.
Recently someone introduced me to the eBay craze. He had a compilation of interviews with successful entrepreneurs and decided to sell it. They made their first sale of $27.00, and they continued to a multi-million dollar empire. eBay is one of the fastest modes to get to a profit.
The above five businesses are just a few ideas to jump-start your thinking process. However, make no mistake you can start a low-cost and high-profit business and enjoy it while chilling in your pajamas.