this post was submitted on 17 Nov 2023
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I want to build a business to create an income stream outside of my 9-5. But I'm really struggling to find an idea with a low start up cost. I have no idea where to start, or what problem i can solve...

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[–] travelguy23@alien.top 1 points 11 months ago (1 children)

Read The $100 Startup. Most businesses can be started with zero or close.

You don't need to solve a problem. Cooy an existing business and do it better.

[–] DonnaHuee@alien.top 1 points 11 months ago

This. If your business does not already exist, even if it’s a “great idea”, it is highly likely to fail. That said, if you do succeed you will like have tons of success, but that’s too much risk for me.

[–] Waste-Diet-9095@alien.top 1 points 11 months ago

So I asked this founder friend of mine whose first startup did not do well after investing several years. After taking a year-long break he bounced back with another idea and a company. I captured this interesting conversation @ Journey to my second startup.
Tired of a lot of bullshit on this topic, I decided to talk to actual founders in the trenches to get their insights. Let me know in the comments there if you have any specific questions.

[–] Nearby-Buffalo-6829@alien.top 1 points 11 months ago

To build a business alongside your 9-5 job with low startup costs, begin by assessing your skills and interests, whether it's writing, cooking, technology, or anything else you're passionate about. Then, identify a market need by exploring what problems people face in these areas, which can be done through online forums or by asking friends and family. Consider low-cost business ideas like freelancing, creating digital products, or starting a blog. Before fully committing, test your idea on a small scale to gauge interest. Start with a basic plan and gradually grow your business, adapting based on customer feedback and market trends. This approach allows you to leverage your existing skills in a practical, financially manageable way. You can also give this article a read https://www.cuppa.so/post/how-to-find-your-business-niche-what-should-you-focus-on

[–] realcheekedup@alien.top 1 points 11 months ago

I’m a big believer that you have to love the process like no other to really be successful. Success is not the goal, but rather the symptom of falling in love with the process of building something

[–] SelectionCurrent5942@alien.top 1 points 11 months ago

Take a skill from your 9 to 5 and form a 1 person agency around it.

All you need is a site, relevant experience/case studies, calendly and know how to network with right people to generate quality leads.

If you know your stuff its probably the least riskiest type of online business to start.

This guy didnt even take an existing skill, he just saved agencies time by curating leads for them and is making like $50k/m from his build in public growth strategy

[–] Nuocho@alien.top 1 points 11 months ago

Learn skills that are beneficial for companies (sales, marketing or tech for example). Find people who have the other skills but also have good ideas. That's what I've always done. I learned how to build apps and have been in quite a few start ups already without having to create a single business idea of my own.

[–] mindcatwaterman@alien.top 1 points 11 months ago (1 children)

What state/region, city size are you in?

[–] Android17_@alien.top 1 points 11 months ago

I’m in a HCOL area. Por Que?

[–] Grouchy_Aerie5095@alien.top 1 points 11 months ago

Just start something.

Not a joke or condensing.

You just have to start.

[–] astronao@alien.top 1 points 11 months ago

read the Lean Startup. Also, read Millionare Fast Lane if you want to feel gunho about starting a business.

[–] wpskit@alien.top 1 points 11 months ago

First of all, you need to learn a high value skill.

People NEED to see a value in your service/product, because they don't want the product, they want a value provided to them. Remember that.

When you have a skill, you have to create an offer, but really an offer so good the people would feel stupid saying no. You can charge whatever you want as long as you provide value and a must have offer.

Then you need to get more technical: get some website builder and get your offer online, but do not start from scratch, use a website builder, I personally recommend this one:

http://riftjournal.com/easy-page-buildr

It's really easy to use and it creates a high conversion rate model that perfectly synergizes with the strategy I explained to you above.

But most importantly.... have a discipline and never give up. You HAVE to keep pushing every day and focus on one business only.

Good luck!

[–] Inferrd_F@alien.top 1 points 11 months ago

This is the wrong way to think about it. If there was an underserved need around which could easily make money with no input, someone else would have already filled the gap.

You have to think of something more challenging to solve and where you have an opportunity only a few people have.

Are you good with photography? Developing? cooking? then dig into that

[–] munesh372@alien.top 1 points 11 months ago

If you are new you can start from creativity beta program