Your day job not cutting it anymore? Looking for greener pastures?
It shouldn’t surprise you that you are in good company. Over half of Americans are unhappy with their present jobs. Reasons vary from few opportunities to advance in their career to a company culture that is out of line with personal values. Not to mention a common complaint: being underpaid and unappreciated.
Wondering if there is a side hustle you can start, but don’t have any startup capital to invest?
On top of disengagement at the workplace, CNBC reports that 65 percent of Americans save little to nothing monthly and yearly. Which often leads to debt when personal emergencies come around. Debt reduction strategies exist (see https://www.getfreeofbills.com/) and in some cases filing for bankruptcy is a viable option.
For those who are serious about getting out of that job they hate and working toward a business that sustains them financially, there is hope for you.
We have listed up the business types that require little to no startup cash that could be your ticket to a happier future.
Cash in on your hobby.
The first place to look for business ideas is close to home. What are your hobbies? What do you love to do on Saturdays and Sundays? Or even weeknights (when you have enough energy)? Is it making model planes? Glass blowing? Horticulture? Indoor gardens?
Your personal creative work could be an avenue for income. How? The finished product could be sold online on a personal website or via a storefront like Amazon or Etsy.
Many people have experienced success through selling their creative work. From handmade jewelry, to hand-painted signs, to handcrafted clothing and more. In 2015, Fast Company reported that one knitter made close to $1 million through selling handmade scarves and other knitted items.
Startup costs for a hobby-based business are next to nothing. Yes, you might pay for hobby supplies, but you were paying for that already! Just do not scale too large before you are ready, and this method is one of the easiest avenues to start up a side business without a bankroll.
Teach others your skills.
Another way to capitalize on your hobby is to teach the nuts and bolts of it to others.
You can teach a course online via sites like SkillShare. Or you could post your tutorials to YouTube and monetize your channel.
Find a way to make what you offer unique. Perhaps there are many other jewelry makers online posting tutorial videos of how they create their jewelry. But how many of these individuals offer workshops in their local area?
Workshops can be held in your own home, so you would not need to shell out for space. Or you could provide one on one lessons and travel to others’ houses or meet up at public free spaces, such as a local library or a coffee shop.
Market your present job skills.
What skills do you use in your present job? Are you a graphic designer? An illustrator? A front desk receptionist? Beyond titles, are you excellent at organizing files? A stickler for details? A people person?
Consider providing a service based off of what you already do, except in a freelance capacity. Websites like Fiverr and UpWork can provide you with a place to start where you can offer your skills to a ready marketplace.
But you can also go beyond that, too. Use your network to find people who are looking for what you have to offer. Forget fancy ad campaigns that come with killer price tags. You might be surprised how old-fashioned networking and a lot of hustle will get the job done.
The best part of this avenue of going into business for yourself? You have been investing in yourself your whole life. Now, you get to put your investment to the test.
If you are capitalizing on your strengths and skills you already have–then startup costs should be minimal. You will not need to take any certification courses because you have established work experience from your previous/present job.
The most you might need are business cards and a website. But even websites are being bypassed in favor of Facebook pages and Twitter. And business cards can be printed for about $20.
In conclusion, you do not need to let an empty savings account prevent you from pursuing your dreams. If you build it, the investment cash will come in good time.