Posted in Entrepreneurial Ideas Online Entrepreneurship

Inexpensive Innovative Business Ideas

Inexpensive Innovative Business Ideas Posted on

 

 

What I plan to do here today is inspire you with inexpensive innovative business ideas that will set you on a path of fulfilling purpose and financial freedom. Innovative business ideas will forever be our right now and our future for generations to come. Bill Gates once said that: “if your business is not on the internet, then your business will be out of business,” and I accept as true, this proclamation is the truth in its entirety.

 

To support this assertion, we must look at the statistics. According to hostingfacts.com “in 2015, 64% of all in-store sales, or sales to the tune of $2.2 trillion, were influenced by the internet.” They also revealed that in 2017, there will be more internet traffic than all prior internet years combined” and online sales will reach $523 billion by 2020 in the U.S.” alone. A new report from Forrester.com says “the number of consumers browsing and buying online will hit 270 million by 2020, driven largely by activity on mobile devices.” Emarketer.com research predicts “double-digit growth will continue through 2020, when sales will top $4 trillion.”

 

With this kind of information at our finger tips it reeks opportunity. To obtain opportunity sometimes we have to create it. I hope to inspire you with these innovative business ideas to begin to create income streams that will and can change your life if you are willing to put in the necessary work to make things happen in a very efficient way.  Beginning and operating a business online is the new way of doing business these days and it continues to rise in acceptance amongst the marketplace at large. The search for online innovative business ideas, however, can be a bit overwhelming.

 

The best thing to me about online businesses is you can start with no or a low investment to get started. Always remember there will be some sort of investment in regards to any business especially online business, rather it is monetary or time value. With the internet starting a business is more achievable than it has ever been in the history of the marketplace.

 

For this reason I’ve written this article, so that you can be inspired by some innovative ways to make money, run your own online business and enjoy the flexibility that comes with it. Whether you are creative, instinctive or just simply a hard worker with good confidence, you can positively increase your income with an online business or simply taking your existing business and expanding its reach online locally and globally in a very inexpensive way.

 

Inexpensive Innovative Business Ideas

 

Start Your Own Website

 

Are you interested in generating passive income? Well then you need a website. It’s the sure way to make money while you sleep. If you already have a business but no website then you need to create one. It is imperative that you have an online presence if you want to obtain success in the marketplace.

 

Starting a website takes less than 20 minutes, it’s inexpensive and can be done by any one at any age. It only takes consistency and a tad bit of plugging on social media to get your first visitors. You also have the opportunity to create multiple streams of income with the plenty of ways to monetize your site.

 

Affiliate Marketing Business

 

You can start bringing in money immediately by promoting all sorts of companies, products, services and offers online if you’ve got a good presence on social media or have a blog or website already in place. Sign up to an affiliate network such as Amazon, Rakuten, Ebay, ShareaSale, Max Bounty, Clickbank, and CJ Affiliate.

 

Check their offers blog or browse the merchant listings to find something you think your customers would be interested in, grab your affiliate link and share it to your network. If someone make a purchase using your link you’ll make a nice commission. To take it a step further, you can use a topical Facebook page and invite all your friends and existing customers and their friends to join your page and post your affiliate offers on there.

 

iPhone/iPad Repair

With this business, you could easily make $50-60 dollars per hour. You can use a YouTube Tutorial  to show you how to replace the glass. Purchase a glass repair kit on eBay. This repair kit will come with the glass, the LCD and the repair tools. You can either offer this service to people who need their ipad/iphone screens replaced locally or you can buy a broken device online or from any store, just make sure it’s repairable.

 

This usually costs about $60. It is recommended that you buy devices that are easily repairable. Problems such as a broken screen are easy to do away with. After you fix the device, sell the device online. Refurbished devices can sell for double the price of what you bought it for.

 

Freelancing Services

 

As a freelancer you can get all kinds of projects that are available through online service sites such Freelancer.com. These ventures may be data entry, website designing, graphics, coding, maintenance, virtual operations, writing, translation, customer service and much more. You can get the task from the client and charge for your services. In the world, many well reputed corporations outsource diverse tasks to specialized people. You can be the one. Just choose your required skill and perform the work and gain online income. Here a few in detail…

 

Make Money Writing Articles Online

 

One of the most outsourced online business processes is content creation and written content happens to be one of them. In fact, ghost writing as a service business is so broad that you can fill it all. Do you have a passion for writing? Then start a business offering ghost writing services to individuals and companies. You specialize on guest blogging for clients, article writing, ebook writing or freelance writing.

 

Proofreading

 

Do you have an eye for spotting grammatical errors? If yes, then you can make money online by offering proofreading services to online publishers.

 

Internet Press Release Services

 

The demand for free publicity will always be on the increase as long as there’s competition in business. Imagine getting on the front page or home page of a high traffic media website without spending a dime; that’s the power of press releases. If you are good at writing press releases and also submitting them; then you are in business.

 

Technical Support

 

In order to start this kind of business you must have an A+ Certification and it is better to have a Network+ certification to go along with you’re A+ Certification, it will give you more credibility. If you are people-friendly and enjoy working over the phone, then offering online technical support is a great option for you! To work as a technical support person, a company that outsources or requires this type of service for their business must first employ you.

 

Usually, you will be required to have a computer, working and fast Internet access, a telephone and a cheerful character. Some great websites to find jobs that require Technical Support staff include Freelancer.com  and Upwork.com. If you don’t want to use the outsourcing route you can start from scratch and research how to start your own tech support business.

 

Research And Sell Information Online

 

Yes, you can research people’s problems and needs and make money. All you have to do is to come up with a solution, package it in the form of an eBook, video or audio format and you are in business. In fact, the overhead startup cost for this kind of business is so low that anybody can do it. To have an idea on the best-selling information products, I will suggest you visit Clickbank.com the information marketplace. Selling information is the online business ideas that yield’s passive income even while you sleep.

 

Join The Sharing Economy

“The sharing economy is growing at an exponential rate,” says Nigel Wilson, managing director at Hitwise. Thousands of sharing economy companies have sprung up around the world such as Uber.com, and consumers are vigorously engaging in shared consumption.  According to PwC, “44 percent of all adults in the U.S. are aware of the sharing economy and 19 percent have engaged in a sharing economy transaction. It is vital for brands to contemplate how to support and partake in collaborative consumption, rather than compete against it.”

 

The sharing economy is blowing up and the largest demographic in the country, Millennials, have embraced it. For 2017, look beyond Uber, Lyft and AirBnb when looking to tap into this market. You can rent out your car on Turo, camera equipment on Cameralends, snowboard or bike on Spinlister and, if you own one, your sailboat on Sailo. Besides renting out the stuff that you already own, you can deliver home-cooked meals with Umi-Kitchen.

Write And Publish A Kindle Ebook

 

With the Amazon Kindle store, anyone can publish an eBook and make money.  The Kindle app is now available on any device (laptops, iPads, smartphones and, Kindle readers) so your global market is enormous! List your book for $1.49 – $6.99 (you can charge more if you like) and you earn 70% of the sale. Considering Amazon is the ultimate selling machine (and remember people are looking to spend), that is an awesome deal.  The key to success with eBooks is to create value, and write non-fiction. Simply bundling information you have researched and complied on a common problem (like ‘secrets’ to finding a job) and then presenting it in an easy to digest format (an eBook) justifies someone spending a few dollars on it.

 

Another big tip is to have a great cover designed so it stands out, and once your book is live on the Kindle store it’s really important to get some reviews so it shows up higher in results. Encourage readers to leave an honest review at the end of your book.
The best thing about this profitable idea is that once you’ve invested the time (say 20 hours), you’ll earn a passive income for years to come.

 

Audiobooks

 

Self-published books are a known business idea. Increasingly, as a result people want to listen to books. If you have an amazing voice you can begin an audible book recording business. Amazon’s Audible has already made a killing off this service. It is gradually becoming a leader in this space. However, there is still room for other startups to get in on the action. Narration services, print-to-audio services, consulting businesses, and other methods of producing audiobooks are great options to explore.

Web Hosting Reselling Business

 

One thing about a web hosting reselling business is that the market is a bit saturated; but I don’t believe a market can be saturated if you can be creative and focus on a specific niche. But the good side of this business is that it can run on autopilot; once you have put in the initial effort and gotten some clients, you are set.

 

Source Property For Wealthy Investors

 

We all know how much money there is in property, but on the surface you might be thinking this market is off-limits. Truth is, lots of people make good money simply sourcing suitable properties for wealthy investors who simply have no time. The trick is to find properties below market value (BMV) by avoiding estate agents and instead putting a flyer in your area with your contact details offering to buy houses. Then approach investors with a no-brainer offer to pass on the details of cut-price property in exchange for a % of the sale value.  Most cities will have monthly networking events for landlords and property investors. Track these down, sign up, put on your best suit and go along with lots of business cards. Or you could start on LinkedIn or even Twitter to build some initial contacts.

 

Membership Sites

 

If you are an expert in your industry, then you should definitely think of starting a membership site. A membership website is a site that offers “specific information” to people; all for a monthly recurring fee. A successful membership site can generate income monthly without you lifting a finger.

 

Become Your Own Bank

 

‘Peer-to-peer’ lending is the future of banking. It cuts out the middle-man, passing on higher interest rates to you and cheaper loans to borrowers. And it’s all managed online from the comfort of your sofa.
Founded in 2005, Zopa.com is the most established site lending around $1m every day. Right now you can anticipate to achieve up to 5% fixed return (before tax), depending on how long you choose to lend for.  As with any traditional bank, there is some risk attached with peer-to-peer lending. Zopa have gone a long way to vindicating this with their Safeguard feature, which effectively spreads your money across a wide range of borrowers (who are also credit checked).

 

Social Media Accounts Manager

Many celebrities, as well as business owners, often hire people to manage their Social Media Profiles which includes their Facebook Page, Twitter Profile, and Instagram account.  All you have to do is reply to all the tweets and Facebook messages/posts, forward any complaints from customers to relevant departments of a company and post useful content provided by the account owner or creating it yourself. You will also be responsible for getting more Social Media Followers for the account you manage.  To get such jobs, either you need to be a social media expert or have a massive fan following yourself. Managing social media profiles is not as easy as it seems. A company’s/individual’s image is at stake. They usually prefer hiring people who have a value for their own online image.

 

 

 

I hope these innovative business ideas have inspired you to want to take action. They are all inexpensive and can be implement with just a little of your consistent time and maybe a little money to start you off on the right and profitable path. Whatever you choose to do education is key.

 

To learn all you can possibly know about building an online business from top to bottom join the Wealthy Affiliate University. It will walk you through anything you need to know to be successful online. It is suitable to fit any kind of business idea you may have or already have in place.

 

If this article have inspired you in any way please let me know in the comments below!

4 thoughts on “Inexpensive Innovative Business Ideas

  1. There are a lot of great and unique ideas here. I’ve never even thought of repairing ipads or iPhones. I’m pretty sure I could figure out how to do that with a YouTube video handy. I also never even thought of loaning money to make money. It just never crossed my mind. Thanks for the great ideas. I’ll be saving your site for future reference for sure. Do you have any personal experience with any of these suggestions? I’m looking for something low risk that doesn’t require too much time since I have a full time 60 hour a week job (for now).

    1. Jamie Clay says:

      Hi Bill! Thank you for your comment! You can you use any of those ideas, by building a website/blog online based of the idea of your choice. The best recommendation for learning the system of implementing your ideas online would be the Wealthy Affiliate program… for more info click here https://theonlinentrepreneur.info

  2. Great ideas on how to start an online business. I personally prefer the affiliate marketing route as it makes me research what’s best for a niche audience. I think when you go through this type of comparison and selection, you would create something tangible and valuable as an online entrepreneur as oppose to undertaking an online job.

    It makes you a forward thinker in many ways.

    1. Jamie Clay says:

      Yes Cathy! I like the way you think… and that’s why I choose to do affiliate marketing as well. I love the idea that it shapes you into a forward thinker! Thanks for commenting!

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