June 29, 2007, Newsletter Issue #114: Low Cost Entrepreneuring

Tip of the Week

Entrepreneur.com Tip: Not every business idea has to cost millions (or even thousands) of dollars to start. There is at least one low cost business opportunity in just about every field imaginable! Consider these ideas, and then brainstorm on your skill set to find out how you can start your own affordable business.

Services: If you are talented at accounting, writing, planning or communicating, congratulations! You have virtually no startup costs, as you have no inventory, and can easily begin your endeavors as a small business entrepreneur in the services field! Something Old to Something New: If your entrepreneur characteristics include being able to make something new out of something old, such as second-hand furniture, this is a great way to start a business with little capital. By considering how you can make something new, you don’t fall into the trap of selling the same old thing as everyone else! Find Some Friends: If you’re set on starting a business that requires more money than you have, consider who you know that might have the same entrepreneurial spirit and drive that could partner with you in the business. Two contributors are better than one, and you’ll find your work a lot easier with someone to share the load! No matter what your idea, you can get started on any budget! Just make sure you have a budget for things like marketing, advertising, and other expenses. Designate a percentage of your revenues to each expense category to ensure your business succeeds!

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.