Brainstorm ideas prioritizing low overhead
Low overhead refers to the cost to start and run a business. Learning to cut the fat is a business concept that will be used throughout your entrepreneurial career no matter how successful you become financially. You always want cost to decrease and profits to increase over time. If you already have an idea, how can you start and maintain your business for the least amount of money? Maybe the question is not how, but can you? Consider writing a budget listing your start up and maintenance expenses just as you would personally. Include the place of business, legal expenses to start a business, supplies, transportation, etc. Brainstorm ideas that makes these costs lower.
If you don’t have a pre-existing business idea you may want to explore low overhead businesses. Many are independent contractors in the service industry. This is how I began in business ownership, as the owner of a housekeeping company. If you plan to sell products low overhead solutions are to have pop-up stores or kiosks to begin, sell door to door or online. Multi-level marketing companies are often low start up cost and little to maintain. Do your research.