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I have seen many women in my life who are successfully running a business with a small or minimal investment. All these women are like you and me. The only key to success is to know your interest and striving nature. You are landed on this page because you want to do something on your own. You will definitely love some of these basic ideas which I shared here and will like to work on as per your interest.
- Start a babysitting: Modern busy lifestyle often includes working husband wife. There is a lot of demand for babysitting where you need to take care of children when the parents are out. This business involves maturity and sense of responsibility. You can start encouraging your relatives, neighbors and friends to recommend you to people in need of a baby sitter. Further, you can distribute and advertise your business via posters and bills. Day care center can include children’s from three month to 12 years.
You can decide the charges for babysitting as per the service offered. In India the charges range between Rs.400 to Rs.2000 monthly. This service is much in demand specifically in the metro cities. Parents need a protected environment and are more productive when they are assured that their children are in protected environment. You can also enhance your service by serving children’s with nutritious food, organizing games and facilities like doctor on call. The list is endless for enhancement.
- Coaching/Tution Center: Running a coaching class is one of the popular and easy way to run business from home with low investment. If you are well educated you can teach children in various subjects like Maths, English and science. It all depends on the subject matter knowledge to decide to start with primary school or up till 12th If you have the knowledge of any other foreign language such as French, German or Japanese it will be an added advantage for your classes.
If you want to do it on a big scale you may need to rent a place or if you have any additional peropery you can use that to run your tuitions and run large batches. Batch size of 20 students will give optimum results. Once you are successful in running tuitions, you can add more staff later in order to accommodate more students. The place also needs to include washroom, basic furniture, stationary, whiteboard or blackboard. You also need to take into consideration whether you need any approval from your society or local authority to run your center; it all varies as per location. You will also require staff to take care of the center. The number of staff depends upon extent and nature of your center. For beginners it is better to start with home and later expand your operations as per your success. If you are planning to start a tuition right from your home then you just need to assign a room which is free from any distractions.
Once you decide about the space allocation you need to make marketing of yourself. You can start approaching neighbors and friends with kids. Advertising in newspaper is also a good idea. You can also take a help of the internet to spread your business. Create a group on the social networking sites and get all your contacts to join the group. Creating your own website also helps greatly to grow your business. If you are starting your business from home the ideal number of students should not exceed to six in the beginning. This way you can keep your quality work and gain the mouth publicity from the parents who will influence the other parents to enroll their kids in your tuition center.
- Lunch or Meal Service: You can start this business with a minimal investment and that can be operated from home. Tiffin or meal service might sound very light but it has become a very robust industry at present and is only set to grow in times to come. With the changing lifestyle, commuting time constraint and people mostly staying out of their houses, meal service caters equally to the domestic as well as the corporate customers. You can approach initially to the working couples and your society members about your tiffin service. Approaching nearby corporate and shops is also helpful in spreading your business. Willingness to serve food, hygienic food and on time delivery plays an important role in this regard. You can also introduce diet food for your meal service for those extra health conscious people.
- Multi Level Marketing: You might be feeling a bad taste in your mouth by reading selling concept. Well if that’s true, what if you have to sell the product that you are using and satisfied? Wouldn’t you love to recommend it to any other people in your contact and make some money through it? Selling is successful when you have complete knowledge and confidence about the product you are selling. There are many renowned and established companies in the market who have excellent range of products. These companies like Avon, Oriflame, Tupperware, hire sales representatives to work from home at your convenient time. If your social circle is good, you definitely can make decent money from it.
Nisha is working for a private company. She and her husband are earning a good amount of money. They both are working for long hours to make ends meet but somehow they constantly blow their budget. At the age of 35 they are still struggling for a car, a good home and savings for future. Nisha is very depress about her finances and always wonders on how to become wealthy. There are so many people who struggle throughout their life for building wealth.
Is there something wrong with their spending habits?
Good financial habits are necessary to control your finances. Spending wisely will save money. As per the famous author of Rich Dad Poor Dad, do not work for money; let the money work for you. Taking control of your money is about making it work for you.
Let’s discuss the 7 habits that will grow you rich.
- Credit card: Plan well for your card usage. Don’t use it unless you need it. Credit card should only be used in an emergency case. Don’t use credit card for your shopping addictions. When the card bill comes pay it in full. Keep a track of the usage if you have given your card to someone else for use. Check regularly your credit card statement and any unrecognized usage and charges if any. If found any contact card company and raise a dispute. Credit Card Company offers you reward points. Redeem them whenever you build up enough. To Apply Citi Card Click Here
- Planning of monthly budget as per income: Your budget should include all of your bills. You need to plan expenses. First make a note of your income and then decide how you are going to spend money.
- Pay bills on time: Pay bills on time will save you exorbitant amounts money in long run. Being early is always better you else you will need to pay late payment charges.
Make use of mobile calendars and mobile apps that let you set a reminder for paying your bills on time. There are many apps which provide this service free of cost. Make use of online payments which are faster mode of payment to traditional cheques. Also it saves time and resources like envelops and stamps.
- Maintain a book or tracker for your spending: You can do it manually on a physical notebook or else there are various mobile apps which do this task for you. It will prompt you to enter your expenses every day. Keep track of all the money you spend.
- Say ‘NO’ to impulse buying: Avoid an unplanned decision to buy a product or service. Unplanned decision to buy jewellery, vehicle, clothing and much more can lead to financial difficulties. Do not spend too much money on the things that you do not need.
- Start a retirement saving plan: The ideal age for saving for retirement is 25 when you almost selected a career and leading it. The sooner you start to plan for your retirement the more time your money has to grow with compounding. Save 10 to 15% of your income for retirement. Build an emergency fund.
- Mutual fund: Mutual fund is an investment program funded by shareholders that trades in diversified holdings and is professionally managed. It is an good alternative for invewtment for the people who do not know much about investing.
If you have any business ideas then give it a try. Mentioned below are some online modes for generation of income.
7 ways to make money online
- Share market: Share market is a source for companies to raise funds and investors to buy part-ownership in growing business and grow their wealth. Investing in stable companies with potential to grow tend to make profit for investors. Share prices can go down as well as up hence buying share also involves risk factor, however, if shares are bought for long term can generate good returns. You can buy shares specifically for income. There are many lot of mobile apps available for tracking and to know about the financial health of different companies before taking an investment decision.
- Affiliate marketing: Affiliate marketing pays a commission to an online retailer to an external website for traffic or sales generated from its referrals. It is a lucrative way to earn money online. It is as simple as you find a product of your choice, promote it to others and earn a piece of the profit for each sale that you make.
- Be a freelancer: There are many websites who offers work online. If you have a skill use it to complete various task online and get paid for it. You can join freelancer portals to get the work right for you as per your skills.
- YouTube videos: Get paid for uploading your videos on YouTube. Create channel on YouTube and connect it to an adsense account for monetization. Get paid for your monetized videos. However if your video is getting thousand views but no one watches or click the ads, you will not get paid for it. Advertisers only pays when someone clicks an ad or watches for 30 seconds.
- Network marketing: Network marketing involves building up network of people who buy and sell products. Internet is a best place to build the network marketing business. Most Multi Level Marketing companies have a system and tips for selling the products. Like pick the contacts of 50 contacts from your friends and family. Explain plan and benefits to them. Doing meeting with them and again repeat the same procedure. This system will not help in the long run. Online is a medium where you can generate leads online. Traffic generation and affiliate marketing do help in this.
- Coaching and consulting online: Coaching and consulting is a best way if you a perfect skill within you. It can be a music, education, art, acting or anything that people like to learn from you. Create a blog or website where you can provide your consulting services. Think about what you can consult as people don’t want to learn about but how you can solve their problem.
- Earn from PTC sites: Paid to Click (PTC) is an online business that brings online traffic to PTC websites. It aims to earn money for the people working from home. You will get paid for viewing the ad. These websites work as middlemen between advertisers and consumers. A part of the payment is given to the viewer for viewing ad.
Hope you have liked these tips for becoming wealthier in your life.