India has evolved, and come far way from a mindest to secure a govt job or atleast at a service of Tata , Birla or State Bank of India. Oh I absolutely love the baby boomer generation, because of their steady income and savings habit, they are today financially secure, they are encouraging and supportive of the next generation to starting up their own ruther than pestering them to look for a suitable job.
The millennial are more and more liking the idea of starting their own business. The idea of starting up a new business is awesome. It is not easy to think of breaking away from traditional family business or giving up a day job, especially starting a new business involve research, investment, human capital and lot of courage. However, in this post I would like to list down some no or low cost business ideas, which can ofcourse be scaled-up with investment and deploying resources. Mind you, still need to have courage to start up, research for your positioning and consistent efforts to scale-up
1. Content creation, blogging and vlogging – This is a huge and evolving industry, thanks to the ever growing internet usage and media consumption. Even twitter and Instagram can earn you money. If you like writing – short stories to economics, you can get freelance assignments of content writing. There are many agencies in the market. You can start your own once you are little comfortable with the idea. You can even have a blog of your own. To begin with you can have a blogger or wordpress account for free. You may even start writing before opting for a hosting service and a domain name. If you are you-tuber, bingo, the world is your oyster. A good video which can fetch thousands of view, can fetch a good advertisement money as well as paid/ sponsored content. Being a Youtuber and blogger are serious career. You can also use it as extension of your profile if you dont even want to monetise it.
photo – steemit.com
2. Private tutorial – You dont need to teach in a school for this. This will essentially be driven by your interest in a particular subject or a overall training skills. You can have a day job of an engineer, Accountant or a sales manager for that matter. You can use with word of mouth, leaflet distribution and few youtube video classes for initial promotion
3. Translation and transcription services –
The growing marketing and information distribution needs are opening up this arena. The marketers and communication professionals wants to go hyper local, in local as well as international market. Talking to the target audience in their language keeping their ethinicity and culture has become a priority. In this scenario, the translators have a huge potential for business, and If you are a multi lingual, especially with foreign languages like Japanese, Mandarin, you are in for a kill. Just spreading the word in the right places.
4. Financial adviser/ planner – you dont need to be finance MBA or a chartered accountant. But, you need to clear a few tests to become SEBI approved financial planner. Additionally, you need to have inclination to have the passion for profession. It is not just selling the product or making instant money, if you like the idea of money management, you can give it a try. It entails lot of deliberation and counselling. It is a business of trust, it has a huge potential in India, if you have the intent.
5. Public relation consultancy – true. Yet it is a mainstream profession. Before jumping into any conclusion, it is a very specialised service and you need to have some exposure to the sector with education/ internship and job in corp comm/ PR Consultancies for experience as well as the networking ability.
6. Mehendi or Tattoo artist – you can simply begin this by basic networking with friends and family. It doesnt require significant investments to start. You may consider high end tattoo machine, listing your services in premium websites, having a portfolio once you have started off and comfortable in your zone.
7. Art and craft classes – Are you a painter? And have never took the step to make it your profession? Are you passionate about DIY crafts? Most of your free time spent in checking youtube for suggestion. Here you have a idea. You can have a class for yourself. You can begin with a summer camp for kids, a video channel and even a at-home sale for your family and friends. It doesnt have any significant expenses. You can use your existing resources to begin with.
This list can extend to photography, career consultancy, life coach, beauty salon, online bakery, baby sitting etc which will be little expensive yet not an exorbitant money.
Choosing these careers are not sheer happenstance. These businesses can begin with low investments. Each of the above business idea has great potential.but however each needs research, extensive study, understanding market and indomitable entrepreneurial zeal to make it bigger. Starting up is difficult but it is easier than maintaining the momentum, keeping the spirit high through the ups and down.