The invention of the internet is a blessing to this generation, and gone are the days when we needed physical cash to venture into business. Young people can start a business without any capital in the six different niches mentioned in this article.
Oftentimes, when people are asked why they are not into some sort of business, the first complaint is the lack of capital. Although some businesses are capital intensive, today’s economic environment provides so many opportunities for people who do not have liquid capital. It is about the fact that your mind & imagination = abundance or lack!
What is a Business?
A business is anything that one does to make a profit to sustain their livelihood. This usually includes buying and selling products (such as goods and services). If you are in Cameroon, find out how to create a private limited company in Cameroon(SARL).
What is Capital?
Capital generally refers to anything a business uses to generate sales and make profits. Some examples of capital include the company’s personnel, investments, patents, trademarks, and other resources. To increase its value, a company needs money to carry out the buying and selling of assets.
You can also read our best tips on how to start and grow your small business.
Make money from your mobile phone with these business ideas.
1. Brokering
A broker is an individual who acts as a middle person between the buyer and seller in any given transaction. For starters, brokers have a good knowledge of their terrain/market; and they establish a relationship with the prospective sellers or buyers. They generally have the necessary tools, techniques, and resources to source the best buyers. For every deal concluded, a broker makes a commission for their time and efforts. You can literally become a broker for any seller who is willing to find clients. What are you waiting for?
2.Affiliate marketing
Affiliate marketing is the process of earning money (commissions) every time you promote a company’s products or services and drive a sale. Affiliate marketers need absolutely no capital. All they need is to register on the affiliate program they are interested in promoting. Some popular affiliate programs include companies like amazon associates, convert, Elementor, H&M.
3. Social Media Manager.
A social media manager is that person who’s in charge of monitoring and guiding the social media presence (or social voice) of an individual, corporation, brand, or even a product daily. According to research, businesses spent $2000 to $20,000 on digital marketing. Some of this money could make its way to your pocket. You must be thinking right now, that you don’t have the capabilities. Well, there are plenty of free resources online from which you can learn how to become a really good social media manager and start selling your services. Again, all you need is your phone and access to an internet connection.
4. Personal Shopper
A personal shopper is someone who assists another with his or her shopping. As a personal shopper, you’ll be expected to make suggestions or give advice to your client. There are lots of people who would like to have items but unfortunately do not have the time, nor the physical ability to access these items.
For example, you can reach out to office workers, or even your contacts that hardly have time to go to the shops or source the things they need online. The value is the time you bring to the table to help them source out the latest gadgets, apparel, holiday packages, etc for them. After which you charge a fee for your time and efforts.
5. Content Creator
This is the most rewarding venture for millennials who are not shy to put themselves out there. Moreover, if you go into it with the intention to be of service to your audience, the money will follow. You can create contents for YouTube, podcast, TikTok, Tumblr, Pinterest and much more.
In the case of YouTube, the income is split 32/68. If an advertiser pays $100 for adverts to be shown between your video, Google keeps $32 and you get the remaining $68. Also, podcasters with a large listener base tend to get paid the most money for ad space. TikTokers who have 1 million or more followers could earn $1,000 to $5,000+ a month. Some research shown that TikTok stars could make up to $1M per post.
6. House Keeping
There’s a growing number of middle-class people in both developed and developing countries. You can create a flyer using free apps like Canva and proceed to market your services on social media platforms like Facebook, Instagram Twitter, and LinkedIn. This particular initiative has the potential of growing into a cleaning company, with staff working for you. First off, you need to propose your housekeeping services like; cleaning, grocery shopping, cooking or even ironing clothes.
So many single and married people who are swamped with work will be happy to pay for a trusted person to manage their house whilst they focus on making the money.
Story of Popular Tiktoker
The 21-year-old Senegalese lost his job at a factory due to the pandemic but soon became a social media star with more than 100 million followers on TikTok. After losing his job in March 2020, Khaby Lame did not expect to one day become a millionaire thanks to his popularity on the social network TikTok.
Conclusion.
In conclusion, despite some businesses being capital intensive, there exist others that only need an android phone, internet data, and some intentional work. Such businesses include brokering, managing social media for individuals or businesses, creating content on social media, personal shopping, affiliate marketing, and housekeeping. The good news is that these businesses have the potential of growing into massive companies if well executed.
Some of you would say.. There are already too many people on TikTok doing this or on YouTube doing that. That’s the scarcity mentality syndrome. Despite how many YouTube channels there are out there, no content is yours. You will always have your own following, as long it adds value to the lives of your target audience
Don’t forget that the secret in getting ahead is by starting.
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