How you can exponentially grow your bank balance without investing a cent
TLDR:
- Become a freelancer to maximize skills or expertise that come natural to you (if you’re good at it, charge people for it)
- If you’re a graphic designer, look into Print on Demand (POD) to create artwork for apparel, phone cases, posters, etc
- If you’re into content creation, begin writing content, whether on ouTube, Spotify, Notion, Substack, and Beehiiv
- If you’re an ace at managerial tasks, become a virtual assistant for startup businesses and entrepreneurs who need help with it
- If you’re great at teaching something, double down on it.
Everyone loves money, and no one can deny it.
And one of the most ubiquitous ways to make money is to start your own business.
For many business ideas, you need money to start it, and that is a major deterrent for many, but there are also a fair share of business ideas you can start without investing a cent, and we’ll be diving into 5 of them in this article.
1. Freelance Service
If you’re a natural at a certain skill or expertise, you can make money off it by freelancing.
A perfect example is graphic designing, where without any upfront costs you can earn money from it.
To get started:
- Create an online portfolio that showcases your work
- Join freelance platforms such as Upwork, Freelancer and Fiverr to find clients (bonus tip: you can also find commissions on forums and all major social media platforms)
- Speaking of social media, establish an online presence if you haven't already, especially on platforms like Twitter and Instagram
- Leverage your networks if you have one to jumpstart the process
2. Print on Demand (POD)
If you’re a graphic designer, you can also leverage it with POD by creating custom artwork for things such as apparel, phone cases, and posters.
You can get started by partnering up with POD companies such as Printful, Printify, and Teespring or set up your own online store on e-commerce platforms such as Shopify, WooCommerce and Etsy.
3. Content Creation
If you have a passion for content like ours, you can leverage it in various forms such as videos, podcasts, and articles like the one you’re currently reading. Platforms like YouTube, Spotify, Notion, Substack, and Beehiiv are all excellent points for the aforementioned forms of content.
To get started:
- Choose your content niche or topic
- Once you’ve chosen your niche or topic, create high-quality content that targets the target demographic (it should resonate with them in the most relatable way possible)
- Promote your content on your social media and engage with your audience
- Stay consistent
Content creation is a nut that is certainly hard to crack, but it's all about being patient and having full faith and love in the process.
4. Virtual Assistance
If you’re great at managing the administrative side of things, then offering your services to startup businesses and entrepreneurs in need of administrative support is a route you can take.
To get started:
- Identify your strong suit (data entry, email management, or social media management)
- Join freelance platforms such as Upwork, Freelancer and Fiverr to find clients
- Offer your services at a rate that’s too good to be true
Managerial handling is something that not everyone can do at all; there’ll always remain a demand for someone who can.
5. Online Tutoring or Coaching
If you’re well-versed in teaching a particular subject or skill, there are many people willing to pay for personalized instruction and guidance for a handsome fee.
To get started:
- Establish your online presence on as many social media platforms as possible
- Promote your services on social media, educational forums or community groups such as Reddit
- Offer free initial consultation or session to attract clients
- Provide customized lesson plans tailor-fit for your clients’ needs and goals
- Build your personal brand so you’re recognized while you’re not working (check out our free eBook on how to use ChatGPT to build your personal brand)
- To learn more in-depth about this, check out our article on how you can double down on what you teach
Irrespective of whether or not you have money to invest in starting a business, the challenge remains the same; it’s just as daunting. Whatever business idea you choose to pursue without investing a cent, whether from this article or not, to see results, be highly committed and not lost hope within a week, for it almost always takes a while to begin seeing consistent results.