Read this article by John Riddle this morning and I find it to be very true not just in the US but also applicable here in Malaysia. Check it out, there are really a lot of ways that you can make money here in our great country. I have spoken to a lot of foreigners and they say Malaysia is the best! I've also put in some of my own thoughts into it. Enjoy!
By the way we are also looking for a team for our very own business. If you are interested YOU might want to check out our Real Wealth website at http://PeakLifeStyle.com/real
10 Businesses You Can Start for $500 or Less
Do you want to start a business but don't have much money to spend? It can be done. Starting a service business is often the answer. Here are ten business ideas that can be launched for $500 or less in startup funds.
You've probably read about people starting their own businesses with very little money and making a fortune. And it can be done -- particularly if you're starting a service business. But a word to the wise: for every success story there are dozens of failures that go unreported. The key to improving your chances for startup success is to be smart. Be honest with yourself about your willingness to work hard and research the business you plan to start before you jump into the new business pool.
The list of business startup ideas below represents just a few of the many different types of service businesses you can start with limited funds. If none of these suit you, think of what other type of service you could provide and start using similar tactics.
- Pet Care – pets are a billion dollar industry in the United States, and there is a growing demand for new Pet Care businesses. You can start small, then grow and expand your services as you attract new clients. Some of the pet care services you can offer include: feeding and walking, grooming, or visiting a client’s home and caring for their pet while they are on vacation. - here in Malaysia the demand for this kind of service has increased! You can see from the number of pet shops and vets popping up everywhere. You can start a simple service in your neighborhood. It works!
- House Cleaning – it seems like everyone is too busy to clean their own homes these days. The demand for good house cleaners seems to grow each year. In this business, word of mouth will be your best advertising. So find your first client (friend, business associate, someone from church, etc.) and start small. - this is another fantastic idea. Recently we have been receiving a lot of simple leaflets offering services such as house cleaning & part time maids. One day I saw my next door neighbor and we thought that they just got a new maid but it turns out she was just a day time maid. Meaning she would come during the day and do the daily chores. You don't have to provide them with a place to sleep and you just pay as they come. How convenient!
- Auto Detailing – this is another business that people are looking for in their hometowns. Professional auto detailers can charge as much as $150 to $250, depending upon what services they provide. - there's a lot of demand for this as you can see the number of cars here in Malaysia. On top of that there are just so many people out there who would spend money on their cars. For this however you need to know what you are doing.
Before You LeapWhether you plan to choose one of these 10 business ideas or a business idea of your own, take this little quiz before you proceed. Your answers will let you know if you have what it takes to launch and succeed in a new business:
- Freelance Writer – if you have every dreamed about seeing your name in print (and getting paid at the same time), freelance writing might be in your future. Writers Digest magazine is an excellent resource; you’ll find lots of great articles on how to break into the writing industry. - there is a great demand for this especially copy writing a good sales pitch. You can offer your services to anybody who wants to do marketing, It is a skill and an art that can be developed.
- Property Management – many property management companies first started out as house sitting businesses, then evolved as the need arose. Note: property management is a demanding business, and you need very good “people skills” in order to be successful.
- House painter – if you like to paint, this business can be a real goldmine for you. Whether you want to specialize in indoor or outdoor house painting, it is another business where “word of mouth” will help you grow. - Man, this is another great business opportunity. If you love to paint you can make some real money. We had a painter who was charging us only RM80 a day. He painted our house and he made RM800 for 10 days. He told me that on average he works 20 to 25 days a month and he would make about RM1600 to RM2000 a month. Not bad for a painter!
- Handyman – with most families holding down two jobs these days, there is little time for even those small repairs around the house. If you have the skills and a few tools, working as a handyman will provide you with a business that will keep growing. - There is a huge demand for this kind of job. People are just too busy and they just don't have the time. You can even make your service unique by offering your service at odd hours!
- Landscaping – although this is a seasonal job, for many people it can be a year-round venture. If you like cutting and trimming lawns and bushes, raking leaves and working outdoors, starting a landscaping business is something you should consider.
- Website Designer – if you like working on the computer and have no problem designing Websites, then get busy NOW and launch this venture. There seems to be an endless supply of clients who need new Websites. - with all the available online apps now this is a great opportunity. but you need to be passionate about it!
- Party and Event Planner – are you good at organizing parties and events? If so, this business might be worth pursuing. The party business has grown into a billion dollar industry, and people everywhere are looking for help to create “the perfect party and event! - almost everyday in Malaysia there is an event. It could be weddings, aqeqah, a simple kenduri, birthdays, family days and etc. Almost all of these events need planning and coordination. You can be the solution provider!
Unless you answered “yes” to all of the above questions, you might not be ready to hang out your shingle just yet. Take some time, do some research and then when you are confident you are ready to launch, then go for it!PS - By the way we are looking for a team for our very own business. If you are interested YOU might want to check out our Real Wealth website at http://PeakLifeStyle.com/real
- Do you believe that your business will succeed?
- Are you prepared to do whatever is necessary to make your business a success?
- Are you willing to work for little or no salary during your start-up phase?
- Do you know who your competition will be?
- Do you have a sales and marketing plan in place?