What type of Start Ups can I begin part-time with $20,000?

I want to begin a Start-Up, but have a limit on what I can invest in it; both as time and funds. What would be a recommended type of Start-Up with these restrictions?

I’ll refer you to what I wrote for a different answer.

I believe the capital cost can start @ <$1k if you start yourself.

Option one:

Services to Product

Aim to make your first $100 from a pre-existing skill you have:

  • e.g. if you were fluent in 2+ languages
  • And could code at a basic level OR use Wix/Weebly/Moonfruit/Wordpress

Here’s what I would do:

  1. Place classified ads on multiple local sites as well as a freelancer profile across Odesk/Guru/Freelancer (Google all of them)

  2. Do the same for local directories and listing offline and online such as Craigslist equivalents and your local newspapers

  3. Set yourself up as a language expert

  4. Create a simple (but professional) Wordpress website

  5. Have an optin bar (Hellobar/Sumome works for this) to collect emails and give ‘something away’

  6. Also contact local language schools

  7. Offer English to X schools

  8. Get paid to teach

  9. Develop a client base and keep aggressively marketing

  10. Try and get Corporate gigs with businesses if possible as well

  11. Convert your site from ‘solo’ to a ‘school’ or ‘company’

  12. Hire more language experts like yourself

  13. Grow your business

  14. Once you do your first $100 in revenue

  15. Do a SWOT and work out the fastest way to 1ok

  16. Online tutoring

  17. Online products (remember the optin we spoke about…)

  18. Corporate contracts

  19. Offline classes

  20. Also read The E-Myth

  21. And yes you can scale this (online school/programs etc) - but worry about this later

  22. Refine the model offline first

(By the way I did this. I was making around $10k USD a month working 4-7 hours a week whilst living in Italy with my partner)

This could be Year 1

Year 2

Do numbers 9.10.13 and 15.

Look for scale. (See Instaedu - they sold for $30 million USD CASH within 3-5 years of starting).

Option 2

Knowledge sales:

e.g.

  1. I started writing on Quora 10 weeks ago

  2. I started aiming to write 5 answers per day on subjects I’m PASSIONATE about

  3. I now write 10-15 answers pay day

  4. I now generate around 100k+ views per day

  5. Time taken 1-3 hours per day

  6. 100-150+ people per day sign up to get my Free Ebook on the basis of what I write on Quora

  7. I’m assessing what is the BEST way I can help people

  8. I’ll then work with my followers to build something that will TANGIBLY benefit their lives in an online format given their global nature of Quora

  9. To do the first 8 steps is FREE

  10. Your cost is time.

  11. Then you can build a product on the basis of what you learn to offer people what they need

I hope this helps!

Transcribed from beginning a startup part time