Drawing the best creative small business ideas with low investment for your new business is quite possible this time around. Perhaps it could be the best smart move toward a new entrepreneur’s life. Having a lack of money will help you to start off on the right track. It will also give you some great advantages and often prevents you from making some catastrophic mistakes. You should not invest any of your capital in a new business until you make sure that it will pay you off with a great return.
Remember 90% of new entrepreneurs become failure due to lack of proper knowledge about the creative small business ideas. For me, it’s not their bad luck rather it’s their stupidity. Let’s take a look at Petra’s story. She was an ordinary girl just like all others who were passionate to monetize the creative ideas she belongs.
One day, Petra was disappointed with her job as she came up at the month’s end without a penny in her bag. Not only that, she has to put up with her evil boss every day. But she had some best creative small business ideas to get out from her poverty. She was so sure about her business ideas and its success. She even took a market research and often consulting with her friends and family. They were so pleased to know the business ideas and were wondering why nobody has done them before? Petra got the inspiration after seeing the Will Smith movie where he becomes a millionaire after being so much cramped.
She got armed with her grandfather blessings and got million dollars from his lifetime savings. After that, she invested the whole money in her business ideas. She spends all her money to develop a web design to get an online presence. As she though it’s a very important aspect of growing her business but didn’t clearly understand the terms of it. She spent all her money on advertising, printing her business cards, developed a company logo and even opened a Facebook page. Seems like she did all she could.
You may also like to read: Turn your Worse Business Ideas into Creative business ideas in 2017
One month, two months, three months have passed. Nothing pays off. Zero is the number she got…a big red number. Now here is the key question, why did nobody buy her products, if her creative small business ideas were so lucrative. Well, that was a perfect recipe for a financial disaster. Petra’s business strategy was as stupid as buying some lottery tickets. If you also feel the same way there is a slight chance of winning. Because in the business world the term “LUCKS” never exists. The only thing can lead you towards your desired goal is your functional business strategies.
What we have learned from Petra’s story:
Nobody cares how attractive logo your business got, how perfectly you decorated your store and how perfect business plan you may have. Your effort and your vision to make things work for you… are the best business policy. Petra had many things wrong in her business policy. There were all fixable, except the one. She had never paid any attention to how to get her customers.
When you are about to undertake some best creative small business ideas for the new business, you must develop an obsession based on realistic circumstances. You must have a clear idea about your potential customers. Who are they? What are the best interests in them? What do they think about your products? Why will they buy your products or services? Keep in mind, a new business always developed to solve some social problems. If there are no needs in the society, your business will not survive. Your business should dedicate to meet the needs of all others but yours. This is the best way to serve in the business world.
For getting the desired success in your business, you have to determine the best products and service that you want to serve based on the need of your targeted customers. It is very important to get a proper market survey.
Best creative small Business ideas with low investment for new business:
Sometimes lack of money can also bring you the desired success in the business. But to do that you must have to identify some of the best creative business ideas in the current market. Your first job as an entrepreneur is to find out the best burning need of your desired customer and how your business strategies will eager to solve them. Let’s put an example in here, you are in the desert of Sahara and you desperately seeking some water. The situation gets so worse and you are willing to pay everything for having it. What lesson have you learned from it? Here “water” is a product that creates a crucial need. To achieve the success your business solution should be as good as finding the best products or services for your business.
You may also like to read: The 10 best small creative business ideas in the world to undertake
For the customers, your products or services will be much greater than what you are charging. Remember the first and only thing that matter for your new business to survive is your customers. Without them, your business will not move forward even though you have decorated your business well, ensured the online presence, products, enough money to the investment. But at the end of the day, all are nothing but an expensive hobby. Having the proper market research, you can start trying your best creative small business ideas with low investment.
Now, let’s focus on the very important aspect: how you can develop a real business strategy:
I know your imagination and creative business ideas are incredible, but at least, in this case, they are not good enough. You must generate facts and real data.
You have to get wide information about your desired customers. Beyond just studying from home, you must go out on the street. Watch them yourself, have a chat. Figure out what they mostly searching in the Google? Do the same searches on your own. Note down what are the things exist in the Google results. You should also watch them on Thursday afternoon and find out what are they doing over the weekend. Visit those places and see what are they buying with the extra money? Share some of your best creative small business ideas with your potential buyers and watch carefully what reaction you are receiving. Are they really interest about your ideas? Did they get excited about it? Are they screaming to have those?
You may also like to read: Best business plan guide to increase your business growth
Save your research data in your notebook and try to develop some creative business ideas according to their needs. You cannot skip this very important initial step. It took me more than four months to do the market research before opening my first blog. I do all the things with a purpose. I know perfectly what I am doing and why I am doing. My business success and security came from gathering the necessary information from market demand. My first blog worked out and going tremendously well. Every day I got new visitors and my viewers getting bigger and bigger. My blog contents are expressing the people interest. I took my time to find the best approach and required information before starting.
This step will determine how successful and effective your business ideas are. If you discover all your creative business ideas are pretty bad and didn’t work out. Say thank you! It’s left to start a new investigation. Do not quit until you got your best business ideas that are most viable.
Now in this step, we can make a progress! Draw the initial version of your business products or the services based on all the information you have already collected. Apply whatever the resources you got at your fingertips and try to exploit them with your creative business ideas. Develop your best creative small business ideas with low investment. Come up with some products that are so good and effective that your customers will love to buy.
You no need to waste all your important times just to designing a cool website or some fancy business cards and flyers. Neither had you required a big brand name or a fancy logo to get your success.
Make sure how you can satisfy the needs of your customers in an easiest, quickest, and efficient way.
The all important overwhelming proof to consider your creative business ideas as functional is generating money for them. Chat with your customers and brief them how you are going to solve their problems. If you are offering a business service then call your potential buyers to explain it briefly. If you have a product idea in your mind, create a prototype and offer it for free on a promotional basis. On the other hand, if you want to set-up restaurant menu business ideas, at first try it to cook from home.
When you start receiving some payments, then you can consider your creative small business ideas are ready to move into their next level. Remember promise and barter do not suit in the business terms. All you need is some cash. So focus on that. For now, you do not have to worry too much about your products price. It’s time to check if there are any customers who are willing to pay for your products.
Get along with your customers. Make an annual community program to get the important feedback. Ask them what are they like? How they want you to do better? Keep these answers in your business log book. Keep them safe, because they are so important to make your further business strategies. Try to fulfill all your promise that you gave to your customers.
Here you have to go back to your initial step once again and do all the things again with the second version of your creative small business ideas. As you already completed a cycle, try to repeat the process again with some new ideas. As you have learned a lot about your potential customers, now it is quite easy to improve your ideas. Most importantly, your investment will also increase with each cycle of the new business.
End up with a positive thought:
After sometimes, when you have earned sufficient money and business knowledge, then off course, you can take the champagne to celebrate your business success. Now you can spend enough for a good web designer to develop your brand image, start printing business cards and also start hiring some employees. As your business works properly, you can easily take it to its next level. Most importantly, some of the best creative small business ideas with low investment have done all this for you.
You may also like this magazine.