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Ask HN: What business you can start under $100?

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Re: Ask HN: What business you can start under $100?

#11

Some simple starter ideas - sorry no space to go into details - email me if you want more info: 1) Create a website. Join some affiliate programs. Drive traffic to the website. I've done this. Didn't make too much money but it was a small income. I know a lot more now so probably could do a better job. 2) Create a course and sell it via Udemy. Not done this myself (yet). 3) Write an e-book and sell it through joint v…

Very nice advice, I couldn't have written it better myself!

Just to comment on one of your points:

On creating a website... probably less than $30 to get it started, or if you start on WordPress.com or something like that, you can start for free.

But I'd say if you were looking to make money with a website, don't do it just for that. Most people try.. and fail because unless you have a passion for it, it's not going to be what you want.

I began Confessions of the Professions ( http://www.confessionsoftheprofessions.com ) and it is nearing 5 years old now, close to 1800 posts. I never thought it would actually bring me any money, but it has brought me in nearly $3,000 - $3,500 over the past 5 years. Not anything near where I could quit my day job... but it is money I would have never made had it not been for me starting a website... and keeping it going.

It takes patience and a little hustling, between sponsored posts, ads, text ads, banner ads, etc. All from just blogging and accepting guest posts. Guests posts are free submissions (with about a 2 week wait), but there is the occasional person or company who wants to get it out within the week, so that has been a great upsell for me there.

I'm sure I could have brought in a lot more... but it is a side hobby and I work on other things as well.

But starting a website all began with a passion to get it started.. and even more passion to keep it going. Luckily for me, I'm not the only one who has the passion to keep it going... if it weren't for my contributors... I probably wouldn't have the motivation, but it is that strong community support that keeps me going on.

If I could change anything... I would've probably taken my email list more seriously. I actually just have a very small email list and I don't really advertise collecting of email addresses.

For many people out there... their businesses all started simply.. with a huge email list.

Re: Ask HN: What business you can start under $100?

#13
I started http://www.manypixels.co with under $100!

My goal was to launch a single digital offering / service or product and launch it in less than 6 hours and make USD $10,000 in the first month.

1. Find value proposition (Bootstrapped startups need quality design services but don't want to pay agency prices) 2. Find business model (fixed fee per month for almost unlimited design service) 3. Find how you can fit value prop with business model & be profitable (flew to SE asia to meet designers there & live there a few months) 4. Make it scalable (set up quality control processes & communication processes) 5. Code (actually did not code much, used Paywhirl for the payment / membership system) 6. Launch

Here is the breakdown of my expenses:

1. Namecheap .co domain name - $8.88 2. OVH vps - $6/month ($72/year) 3. Themeforest template - ~12$

Total: $92.88

The project generated ~$3k in the first week of its operations (though most of it is not actually profits - but I am already in the green :))

Re: Ask HN: What business you can start under $100?

#14
post #10
post #7

Earlier quoted context omitted.

Can I buy you a coffee and pick your brain a little bit? I'm not looking for your secret sauce, just looking to hear some of your war stories and learn about how you got started. If you are interested, my email address is in my profile.

War stories are usually not good... For starting here is my advice: get a small linux VPS or just install python on your laptop, get as much back data as possible, covering at least one market cycle (this will be your initial expense) and start back testing every trading strategy you can find on the net or in books (library) for free... Never pay for strategies, because they will all fail, but by testing them one by…

Curious which platform you're writing your Python to trade with.

Re: Ask HN: What business you can start under $100?

#15

I started http://www.manypixels.co with under $100! My goal was to launch a single digital offering / service or product and launch it in less than 6 hours and make USD $10,000 in the first month. 1. Find value proposition (Bootstrapped startups need quality design services but don't want to pay agency prices) 2. Find business model (fixed fee per month for almost unlimited design service) 3. Find how you can fit val…

I love that you made good money with a MVP, for people building MVPs :P

Did you get on Product Hunt or something? I'm curious how you made $3k in the first week.

Re: Ask HN: What business you can start under $100?

#16
post #2

Arbitrage. Find two markets where there's a price disparity you can exploit. Maybe it's CraigsList and Facebook or eBay and Amazon. Buy from one, and sell on the other at a markup. Start small, and scale up from there.

I wouldn't recommend this with less than $100 though. The margins are really tiny, so you might make a profit of maybe... $3 for your $100. Might as well work minimum wage.

If you had $2000 or so to start with, that's a different story.

Re: Ask HN: What business you can start under $100?

#17
post #5

Stock trading robots - you won’t make much, but you can dip a toe in the water... After/if you figure it out, you can scale easily pretty much up to millions and more...

Stock trading robots won't make much from $100 either.. maybe a trickle of $2/month.

Re: Ask HN: What business you can start under $100?

#18
I started an ecommerce company with less than $100.

.asia domain name: $5

Google Play account: $25

Logo: Free. Designer friend did one in exchange for me doing an app for him. He decided not to do his app in the end, so it didn't even cost me man hours.

Development: An incubator (Startup House) gave us 3 months to stay + food.

Marketing: ~$5 for domain name, $25 for copywriting. We did a fake blog. Registered a domain name for it. Paid a blogger friend to write up something along the lines of "If you follow the Atkins Diet, you MUST download this app". We sneaked the link into an Atkins Diet Facebook group and got over 1,200 downloads in the first 24 hours.

Products: We made a recipe app and sold ingredients through it. Our ingredient supplier partners packed and delivered them for us. We simply gave them a list of who to send to and then paid them once every few weeks. We made almost no profit from this, roughly 5%, not including payment gateway, but we didn't have to have money on hand either. After verifying the business model, we bought the products, stocked, and distributed them ourselves, for up to 30% profit margin.

Later, we sold off the company, for more money than I've ever got in my years working.

Re: Ask HN: What business you can start under $100?

#19
post #15

I started http://www.manypixels.co with under $100! My goal was to launch a single digital offering / service or product and launch it in less than 6 hours and make USD $10,000 in the first month. 1. Find value proposition (Bootstrapped startups need quality design services but don't want to pay agency prices) 2. Find business model (fixed fee per month for almost unlimited design service) 3. Find how you can fit val…

I love that you made good money with a MVP, for people building MVPs :P Did you get on Product Hunt or something? I'm curious how you made $3k in the first week.

I am not yet on ProductHunt - I am a bit afraid to post there yet, haha :) Do you think the product is ready to be on PH? I grew the traffic mostly via super niche Facebook groups actually (like SaaS entrepreneurs for example)

Re: Ask HN: What business you can start under $100?

#20
post #15

Earlier quoted context omitted.

I love that you made good money with a MVP, for people building MVPs :P Did you get on Product Hunt or something? I'm curious how you made $3k in the first week.

I am not yet on ProductHunt - I am a bit afraid to post there yet, haha :) Do you think the product is ready to be on PH? I grew the traffic mostly via super niche Facebook groups actually (like SaaS entrepreneurs for example)

There's still a few bugs. Like clicking on the portfolio items doesn't show the content. But if everything else is stable and scalable, why not?
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