Top thee online business ideas under $500 – Part 1

Last updated on Mar 02, 2017

darshan

startup ideas

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Do you want to form a startup alongside your 9 to 5 job? Well, you come to the right place! I will show you some of the safe online startup ideas that you can implement under $500!

I do believe that all good startups start small and gradually grow. And I also believe in investing very less resource on an early day of your startup.

And to prove my point I will show you three online startup ideas along with the platform that costs you less than $500 and demonstrates a way to build a unique business model around it.

You know when it comes to startup, everyone seems to have a cool million dollar idea. And it’s pretty fine, it’s our psychology that the startup idea we have should be a million dollar idea!

The reality comes when you start to implement or execute that idea in reality. There are no challenges in thoughts, you know! There is only profit and growth!

Let me burst that bubble and bring you back into the reality. Let me show you some practical online business ideas for 2017. The ideas that you can execute and implement in real life. The challenges that you can address all by yourself.

I will be writing at least three part series of this “online startup ideas under $500”. The ideas that while help you start small with fewer resources, time and energy and help you scale it up.

Here are the three online startup ideas of 2017 I will be discussing:

  1. On Demand Audio Streaming Platform.

  2. Startup platform for a specific industry niche.

  3. BnB platform.

 

1 On Demand Audio Streaming Platform

online startup ideas on demand music streaming platformDon’t get me wrong, I’m not asking you to create something like Spotify, Pandora or SoundCloud! NO.

I am asking you to create an on-demand audio streaming platform for an industry niche where no one is focusing or taking any interest!

What I’m asking is create something that goes along side with leading market products. Let me give you an example.

Let me explain you with three real-world examples.

1. Music Composer & Singer’s Platform:

Do you know there are thousands of people in music industry trying their luck every day in the Hollywood to get their first break?

Do you know how frustrating is it be in that position? A person having all required skill with decent experience and expertise is trying for years just to get a proper industry break!

How if YOU create a portal for the music composers and singers? A portal where these people can showcase their art!

A platform where common people come to experience their skill and expertise? A platform that gives some sort of recognition to these artists?

What if we make your platform social friendly that help people(visitors) sharing these artists work on various social media platform!

There are high chances that these artists will get noticed by their dream directors, composers, and producers. It will help them land to their first break, easily!

Later on, you can convert your business model into a marketplace where artists can sell their work to earn. Opportunity is huge considering the current market situation! Think it.

2. Audio review platform:

Strange online startup idea, right? It is. We are used to with reading text reviews and getting the emotion of writers by reading their words.

To express the best ever experience you have only two things. First the review texts and second the star rating.

Just compare the text Awesome against someone expressing review in their own voice with emotions! A voice with emotion expresses way more than those texts and starts! Obviously.

The same goes for a hotel reviews. Before finalizing I would really love to listen how was the experience of other peer community members.

And you know what hotels would love to integrate your service in their website like they did for the TripAdvisor. You are adding some value to their business in more human and emotional way!

Any business would love to use a service that adds some value to their business. You get exposure to thousands of their visitors. A quality traffic and flourishing and long lasting platform in coming years.

3 On Demand audio streaming for education:

You know how schooling system is like? A teacher would teach a topic once a year in the class.

A student can indeed ask for repetition of the topic the very moment. Or they can personally consult a teacher for any doubt or query.

What you think, what are the chances that student(s) would personally consult a tech for the topic question or quires? The realistic figure is very low.

Why not ask a school to utilize your online startup idea of on-demand audio streaming. A service where you host their audio sessions and students can listen to the same lecture anytime anywhere.

It might not be a revolutionary but worth a positive change for the education industry. The platform can address the loss of interest of falling back in curriculum issue that many student faces.

You can charge pretty affordable fees to school to start your venture. Once established you can branch out into audio based tutorials and then two-way interactive coaching service.

Start On Demand Audio Platform at $199!

 

2 Startup platform for specific industry niche:

online startup ideas industry niche startup platformYes, I know about the Kickstarter and I am not asking your build something as big as that or as generic as that. The online startup idea I’m suggesting is different.
 
Creating exact the same platform like Kickstarter wouldn’t help, for sure. But creating something for a specific industry niche would definitely help you scale and grow.
 
What I suggest is creating a platform for startups for a specific industry. Narrowing down the focus will help you attract more startups on your platform, help you scale and branch out fast.
 
It will help you create a sustainable business along with revenue coming in from different branches in a couple of years. No overnight success, please. I am talking about the realistic results.
 
Let me explain it with two examples:
 

1 Startup Platform for Packaging industry:

Consider a case, you are living in the area where you see a lot of manufacturing and packaging work going on.
 
Creating a startup platform just for packaging industry will help you attract the smartest innovators into your platform.
 
Additionally, you do understand your local market, you know the real buyers for the product these startups will eventually build.
 
It would be like these startups host their project on your platform. Some good projects get funded and start building the product.
 
Later on, you add an eCommerce channel to your business. Meaning you help these startups selling the product right on your website with a high level of trust. You now have the second revenue stream coming in!
 
The key is sticking to a certain industry niche. You will attract the best startup ideas on your platform. An authority is everything. Authority will you get the best industry-specific startup idea coming into your platform! It’s a scalable business model.
 

2 Startup Platform with added mentoring service:

I have experience of a failed startups and I better understand the value of having an experienced mentor on board.
 
Study at least 50 startups and try finding a senior experienced mentor behind their startup. Based on my finding, you may find only 30% of them have a properly experienced mentor on board right from the idea to execution.
 
You may understand that having a cool idea doesn’t guarantee a success. Adaptability is a primary concern.
 
How if you create a platform where you allow limited entries of startups. Map an industry expert as their mentor and help them get funded?
 
You can create a viable business model where each entity like the startup, mentor and you as a platform owner ears a part of the money.
 
You are helping startups in two most fundamental ways, the first is you are giving them an experienced hand helping them shaping their product, maximizing their scope of becoming a successful product company.
 
And the second, you are assuring the backers that the project is mentored by an industry expert. This might help a project get enough funding.
 

Get your industry-specific startup platform at $199!

 
 

3 BnB Platform:

online startup ideas unique bnb platformI am not asking you to mimic the Airbnb platform. But you might be very well aware of the growth the company has made in past couple of years.

How about creating a BnB platform that targets specific industry niche with limited geography to start with?

Let me give you an example.

01 BnB Platform for Specific Events in Limited Geography

If you see I have put the word limited geography! Why? Start with smaller geographies will help you find the best properties, the best people, and deliver the best ever experience to your early adopters.

Now, what do I mean by specific events? It’s interesting. Do you know there are events or expos happening all around the world for different industries on different places and time?

CES, MWC, WWDC, Google IO, CEBIT, Auto Expo, Photo Expos and much more. I would recommend you study these expos and find your targeted audience from one of these.

The beauty about these expos is there are like minded people coming in for either their knowledge update, media coverage or buy/sell something in the expo itself.

There are two types of people attending such expos. One is a group of people coming from a single location and the other are the individuals coming from different locations.

It would be a great business opportunity if you can find them an apartment which they can share with their fellow members.

By that, you are adding two unique values:

1. For groups, you are making their stay an easy affair. You are offering an apartment which can accommodate all the group members, offering proper food. Meaning you are fulfilling the BnB(Bed and Breakfast).

2. For individuals, you are helping them grow their professional network with like-minded people from their industry from a same/different location.

By any means, you are offering two core values safe stay and proper food along with professional network with cheaper price than any hotel in that area!

You know, it makes sense for any industry professional! Limiting the business model with specific event makes your platform’s visibility very clear.

It will be far easier to market your business. Additionally, Limiting the geography gives you an advantage of mining the best properties at the best features and price.

After all, all the business works on two core things, experience, and the price. And you are playing safe and strong in both the departments!

It may take some time to build your authority, but once developed, you will have the highest repeating and referring ratio than any other platform!

Ask any market expert, repeating, and referral business is the fastest and cheapest way of getting business compared to any other marketing channel.

 

Get your BnB Platform at $199!

 
 

Conclusion:
Targeting a specific industry niche and offering excellent product/experience is the key to any startup success. Start a small, invest little, put your idea into the market test, collect feedback, and improve is the process loop you need to follow. By no means, I am suggesting you buy any of my product. But I am offering highly tested, customizable and scalable products at flat $199 only. It’s worth a try. Contact for the demo!

Post by Darshan Joshi

Darshan shares a great passion for helping and empowering businesses around the world. With web application, he is helping businesses get more out of their business resources and an improved workflow. And the clone scripts help startups launch quickly in the market!

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