Written by: Derek Goodman @ Inbizability.com

Photo via Unsplash


Some entrepreneurs want to jump in with both feet when it comes to their big ideas. For the more cautious among us, though, it makes sense to go slow and feel out the market before launching a potentially risky venture.

Apply maximum zeal and moderate to low investment amounts with these more affordable entrepreneurship ideas.

Get Legit with Funding

There’s no quicker way to form a legitimate business than to get your paperwork in order for a loan or even a grant. Small business funding resources may require your company documentation – licenses, tax paperwork, and even a business plan – but the tradeoff can involve substantial startup funding.

Enhancing your organizational cash flow means you can stop spending your personal funds on the business. Plus, extra financing can help you onboard employees or contractors, outfit your business with equipment, fill out inventory, or increase your working capital.

There’s no shame in asking for help – and everything from government (Small Business Administration bridge loans, traditional loans, and the Main Street Business Lending Program, to name a few) to private funding sources can boost your budget to new heights. With strong financial backing, you can cut down on stress and start hitting your business benchmarks sooner.

Save for the Big-Ticket Items

You’ll find plenty of ways to start out cheap with your business venture. Not every budget buy is a good deal, though. Some things are worth the up-front cost in the interest of preserving your business and profits over the long term.

For example, choosing to cheap out on financial record keeping is a big no-no. You need a trustworthy professional or software suite to keep your business in the black, and there likely won’t be any shortcuts to achieve that. Digital security is another area where it’s smart to go with reputable yet pricier providers.

Ultimately, the payoff is peace of mind and solid recourse if something goes wrong. From your accountant covering your behind come tax time to your antivirus provider catching a hacking attempt, these may be your most worthwhile business expenses.

Experiment with Ecommerce

Ecommerce is popular for a reason: the up-front cost can be almost nil, and your operating costs can be crazy low, too. Brick-and-mortar is great for some entrepreneurs, but when you start adding up commercial rental space, equipment, and employee hours, you’ll be in a hole before your doors even open.

In contrast, eCommerce offers you the chance to run a business without physically doing anything. And e-retail sales have amazing potential to pad your pockets: in 2019, online sales exceeded 3.5 trillion dollars worldwide. By 2023, Statista estimates that 22 percent of global retail sales will happen via eCommerce, and you could be one of the businesses that benefits.

If you choose a drop shipping model, you’ll only be maintaining a digital store and possibly blog content. But even if you order products and handle the shipping yourself, garage storage space might be enough to start out. When sales start climbing, you can reinvest what you’ve made to expand your inventory area (or quit while you’re ahead).

Sell a Talent, Not Stuff

Another potentially lucrative entrepreneurial idea is to sell your talents rather than stuff. The truth is that every person has a talent that other people value. Whether you can play music, create awesome pieces of art, or just have a way of inspiring others with your words, there’s a path toward monetizing your talent.

After all, there’s a reason so many entrepreneurs start out as solopreneurs – or even micropreneurs. You can pursue something you’re passionate about and work at turning it into a career in your free time. Plus, without the need for a ton of overhead, you can earn an income faster than selling products or services in-store.

To take this path, all you’ll need to do is outline what you have to offer. There’s a niche for every talent out there, from freelance writing to life coaching to painting portraits of people’s dogs. The key is uncovering your talent and then determining how you can help people with it.

When you’ve discovered who you can help, you have an audience to market to. At that point, all that stands between you and your profits is your ability to create an effective marketing message that gets people to buy.

Divert Money You’re Not Using

When you’re trying not to spend down your savings on a new business venture, think about unconventional ways to uncover cash. Diverting money that you’re not currently using – like your retirement accounts – and letting it grow is an excellent means of increasing your wealth.

Trading from your IRA account, for example, can be a low-risk way to start investing. In fact, diversifying your portfolio – even if it’s a small one – can help grow your net worth while you brainstorm your next big idea. Everything adds up, so anything you can devote to investing or high-yield savings is a smart move.

Start Trading ASAP

Learning to trade may not sound like a valid business idea, but the reality is that plenty of people make trading their side hustle because it pays off. Say you put aside a pre-set amount of cash – even as little as $100. After you learn the basics of trading, you can use smart and even conservative strategies to build on that $100.

The best part? You can do it without paying for office equipment, trolling LinkedIn for backers, or promoting a business concept to an uninterested audience. It’s not for everyone, of course. But you can easily join the countless investors who are making a killing with a bit of time and effort but low startup funds.


Whatever business model you decide to follow, your best odds of success involve equal doses of passion and realism. Know what you’re up against and what it’ll take to get started – and then push hard to make it happen, even if it’s on a small scale. And if you’re getting ready to launch a business or build your investment capital, visit Traders Creed for the office decor to match (plus advice for making your venture more lucrative).