Top thee online business ideas under $500 – Part 1
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:
On Demand Audio Streaming Platform.
Startup platform for a specific industry niche.
1 On Demand Audio Streaming Platform
Don’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.
2 Startup platform for specific industry niche:
1 Startup Platform for Packaging industry:
2 Startup Platform with added mentoring service:
3 BnB Platform:
I 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.
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!