It is becoming more and more common to find people looking to leave the corporate world to start their own projects. The rules of the game have changed, it is no longer necessary to invest a lot of money to start your own business, and much less is it necessary to create a gigantic and innovative company to live very comfortably until the end of our days.
Here is a list of 10 proven, effective and modern ideas (in no particular order) that you can start with very little money and from the comfort of your home.
Disclaimer: Please note that some links in this article are affiliate links, which provide us with a small commission at no cost to you, and which we use in order to fund the production of more free articles, allowing us to help more people. These are simply good tools that can be used in conjunction with these ideas if you wish.
1. Online Courses and Coaching
The rapid pace of digitalization that we have experienced over the last few years has made it much easier to share experiences and knowledge with others from a distance. If you have knowledge or passion for something, and you would like to share it, all you need is an online course platform and a camera that could even be your phone camera.
Additionally, you can build your own community by using a Facebook page to answer questions or queries, or you can also create a podcast for those who prefer audio content.
As for the online platform, there are several options. If you like technology and doing things on your own, using WordPress with plugins like LearnDash could be a good alternative. There are also several ready-to-use online platforms that only require a monthly subscription, such as Thinkific and Teachable, that will help you get started much faster.
You can get started today with a 30-day free trial on the Thinkific Pro plan, using our link below.
2. Start an Online Store
As with the previous idea, digitalization has allowed anyone to have their own online store. You no longer need to be a behemoth like Walmart or Amazon, nor do you need to buy large amounts of inventory to start making money online.
There is more than one effective model for doing profitable business with an eCommerce store. You can import products to sell on your website, make your own products, and if you have strong marketing skills, you can also opt to do Amazon FBA or dropshipping.
Dropshipping is a retail model, in which the retailer does not store the inventory of the goods it sells, but takes the order, along with shipping details, and passes the order on to the wholesaler, who is responsible for shipping the products to the end customer.
Although the dropshipping model allows substantial savings in terms of storage and inventory management, delivery times are usually lengthened considerably, because many times the wholesaler sends the product from abroad, which requires good digital marketing skills to compensate for the delay.
Finally, to set up your online store there are many options, but the 2 most used in the world are WordPress with the WooCommerce plugin and Shopify.
3. Learn Web Development
Today every business needs a website. Traditional businesses use them for informational purposes or as a branding tool, while digital businesses use them to drive traffic and generate revenue.
You can start by creating sites on platforms such as WordPress and slowly build up your skills by learning HTML, CSS and JavaScript programming, which will allow you to tackle larger, customized projects.
You can develop your first websites for your family or friends, and add them to your portfolio, which will allow you to convince more and more clients.
As for training, you can find countless free tutorials on YouTube and if you feel you need a formal and more structured course, you can find very high quality courses at very low prices on platforms such as Coursera, Udemy or Skillshare.
4. Learn Graphic Design
Did you think that Graphic Design was a declining profession? Well, I’m afraid you’ve been lied to. The key is to focus on the design of illustrations and material for digital content, such as social networks, websites, logos, digital marketing ads, among others.
Graphic design rewards creativity and professionalism, but strongly penalizes mediocrity, if you want to enter this industry and survive, you must educate yourself properly, because it is not enough to have simple creativity and follow the guidelines of a brand, you must also be able to apply design principles supported by science to really meet the needs of your customers.
To get started, all you need is a computer and a program like Photoshop or Illustrator, although there are also some free and open source programs, such as GIMP or Inkscape.
You can find plenty of free tutorials on YouTube or you can also opt for courses on platforms like Coursera, Udemy or Skillshare, to name a few.
5. Become a Virtual Assistant
If you have experience in administrative activities or are a very organized person, you can provide services as a virtual assistant to virtually any type of business.
While it doesn’t sound like a very glamorous job, it pays quite well. On the other hand, as a virtual assistant you can perform many functions, such as scheduling appointments, managing email accounts, arranging travel, handling phone calls, among others.
Another benefit of being a virtual assistant is that it allows you to meet influential people in various industries, which will allow you to drastically expand your network of contacts.
To get started, all you need is your phone, a computer and an internet connection. Additionally, we recommend that you create a professional profile on portals such as Fiverr and Upwork, to name a few. On these sites you will be able to find your first clients.
6. Create a YouTube Channel or Become a Streamer
YouTube has long since evolved from a simple video platform to a full-fledged search engine like Google, but with video search results.
If you have a topic you are passionate enough about to create a lot of entertaining content and your communication skills are up to par, creating a YouTube or Twitch channel is a very good option. However, you need good enough marketing skills to attract a sizeable audience.
Unlike other ideas in this article where the technical specifications of your camera, microphone and computer are usually not a problem, this time you will need a small investment to ensure the quality of your videos.
Finally, don’t forget to learn about the rules and guidelines of platforms such as YouTube or Twitch in order to monetize your content safely and avoid possible sanctions in the future.
7. Recommend Products or Services
This business model is known as Affiliate Marketing, and is based on the recommendation of products or services in exchange for a commission for each sale or conversion made.
Although Affiliate Marketing requires a very low investment and can be very lucrative, it is a business model that involves great responsibility and ethics, since the idea is to recommend things that you have actually tried or that you currently use.
To get started, all you need to do is register with the various affiliate programs of the brands, products or services you wish to recommend. Usually, you will be assigned a link through which you can receive commissions on your social networks, website or YouTube channel, to name a few examples.
8. Create a Blog
Starting a blog is an idea that never seems to go out of fashion, and it has its reasons. Having your own blog is a very versatile option, since you can complement it with other ideas previously discussed. You can incorporate an online store and a blog in the same website, plus you can earn money through advertising or product or service recommendations.
Unlike other ideas discussed in this article, making a living with a blog requires time to attract a significant volume of traffic, perseverance and a willingness to learn topics such as SEO and WordPress.
Unless you have a stroke of luck or are a marketing genius, you will not earn the equivalent of a decent salary in several months, so it is not recommended if you need to pay debts in the next 6 or 12 months.
While there are many platforms on which you can create a blog, there is only one that can give you enough flexibility to differentiate yourself significantly from other competitors in your industry, WordPress.
9. Provide Translation Services
If you are fluent in more than one language, translating is a more than ideal service for you, as it does not require a large investment, there is always a demand, and it is a business that can get up and running quickly.
The trick is to focus on providing translation services to businesses that are part of more digitized industries. This is because many of these online businesses tend to go beyond the borders of their respective countries of birth.
A very common example of this is websites and digital service platforms, which constantly need to translate their new and old content between languages such as English and Spanish.
10. Start Your Own Digital Marketing Agency
If you’ve ever wondered where those ads you see constantly on platforms like Instagram, Google or Facebook come from, the answer is that they are the work of Digital Marketing.
To start off on the right foot in this industry, it is important to constantly educate yourself, not only in Digital Marketing topics, but you will also need to learn what is appropriate to apply and what is not according to the industry and type of business.
You will need to learn much more than just creating ads on the most popular social networks if you want to start working as an agency, you will also need to understand content marketing, email marketing campaigns, social media management, among many other aspects of digital marketing.
You can learn about Digital Marketing for free on platforms like YouTube, or you can take more formal and structured courses at a very good price in places like Udemy, Coursera or Skillshare.
In Conclusion
Leaving your job to materialize your own business may be scary at first, but the benefits in terms of freedoms, flexibility and long-term earning potential make embarking on this adventure worthwhile.
All the business ideas outlined in this article, worked with passion and effort, can help you earn enough income to live a comfortable and carefree life, even with a very low investment thanks to rapid technological advancement and digitization.