There are two type of people in this wonderful world. There are some who see the glass as half-empty and those who see it as half-full. This was heightened for me when I had lunch with an old coworker and he began to rant about how only wealthy people could start high profit businesses. I thought he was joking.
As I sat and listened, he went on for about ten minutes on why he couldn’t start his own business and break out of the rat race. He mentioned the expensive expense of starting a business.
franchising and real estate development. I decided to ask him only one question when he eventually came up for air. Steve, Have you ever considered what kinds of low-cost firms with huge profit margins exist?
He appeared to have been ran over by a truck. I continued, “You’re just asking the incorrect question.” He waited for a moment before saying, “OK, if you’re so brilliant, give me some suggestions.” Great, I said. Oh, and by the way, let’s have some fun and concentrate on the ones you can work from home in your own confort.
Here are the five low-cost, high profit businesses that I discussed with Steve.
Do you have access to a computer at home? If this is the case, you may be sitting on a gold mine. People use the internet for a number of reasons. From a multimillion-dollar wire jewelry business to a teenage kid from Long Beach, California, who built his fortune by teaching others how to play music by ear. Everyday individuals are connecting to the internet and attempting to make their own dot com fortune.
If you are not a highly technical person, tele-seminars are one of the greatest tactics. You may give a lesson or seminar with just a phone and a conference call line for your guests to call in on. You may either utilize it to generate leads or offer your product or service during the seminar. The recording of the class may result in an additional product. Once you’ve recorded the lesson, it may become an immediate product from which you can generate passive money.
If you appreciate the notion of not having your own product or money, then joint ventures may be for you. This is merely the art of the transaction. You get rewarded in direct proportion to your skill to bring together two people who would not otherwise know each other without your introduction.
For example, if you combine business A’s goods, knowledge, and resources and partner with company B’s client list, you earn a cut of the revenues. And it would not cost you a dime.
What if someone else handled the majority of the labor but you got a cut of the profits? That is, after all, what affiliate marketing is all about. There are hundreds of things available, including digital downloads, books, and seminars, as well as tangible products such as laptops, cell phones, and other technological items. Your goal is to identify things that your target market is interested in, and when you sell anything, you earn a cut of the sale. You can accomplish this without any inventory or the overhead associated with a typical firm. This makes affiliate marketing one of the most popular high profit businesses.
This is one of the most profitable low-cost and high profit businesses you can start. If you have specific expertise or can do research and report on it, you can build very profitable items. Interviewing specialists in a high-demand niche area, for example, is one of the quickest roads to success.
Once you’ve interviewed these experts, you may use the knowledge to develop a variety of products based on only one interview. You may sell the recording itself, the text of the conversation, utilize portion of the information to make an e-book or report, or compile many of the interviews into an expert tape series.
I’ve always been a fan of network marketing because the business model focuses on self-development as much as business growth. The assumption is that you locate a firm that has a proven method and excellent team leadership, and you are enthusiastic about the product. The majority of these businesses have a low barrier to entry. And you develop your empire by combining the labor of numerous people.
Some people mistakenly assume that you will get wealthy by exploiting others. This is not correct. The fundamental tenet of network marketing is that you get rewarded in direct proportion to your ability to recruit, train, motivate, assist, and manage a volunteer group of individuals. The benefits for individuals who can achieve this are enormous.
I was just exposed to the EBay craze by someone who, because he didn’t have any money at the time, opted to sell a tape set that a buddy had made. This offering was a collection of interviews with successful business owners. Their first sale was $37.00, and they went on to become a multi-million dollar enterprise. EBay is one of the easiest methods to make money. You may remove items from your garage today and sell them on eBay tomorrow. Remember that one person’s garbage is another person’s treasure.
Something intriguing happened at the conclusion of the lunch. Steve, one of my friends, was beginning to perceive the glass as half full. So, how about you? Do you want to create a business that won’t cost you a fortune? The seven businesses listed above are just a few ideas to get your creative juices flowing. However, make no mistake: you can launch a low-cost, high-profit business while still wearing your jammies.