The list of money making ideas grows every year with new technologies, markets and customer demographics opening up a whole lot of possibilities. What worked a decade ago might not work anymore while what will work today might not necessarily work the next decade. Hence it is necessary for man to adapt himself to the changing environment, if he would like to get financial security in life. This guide will serve as a collection of ideas of earning, each categorized depending on whether it requires investment, skills, education and time.
With lots of investment
- Invest in the stock market or do intra-day or short term trading of shares (high risk but large returns in short span of time)
- Do forex trading (high risk) or commodity trading (like Gold, silver etc.)
- Buy land or invest in real estate and sell at a higher price. For example, one can buy many acres of land in one large plot and then sell them in smaller plots (lesser risk than trading).
- Become an Angel Investor or a Venture Capitalist; the tech industry is one industry where one can get may times the returns in a short span of time (medium risk).
- Produce a film or an album with upcoming artists. Or distribute a film, remake one or translate a foreign language movie and re-release it in your country.
- Buy an already profitable business or company!
With medium investment
- Partner with someone who has the skill or knowledge for a good service and start a business together. For example, if you have a friend who is a doctor or a dentist and you have money for investment, you can help them open & run a clinic while your friend can manage the patients.
- Import from another country something which is not readily available in your country and distribute it. Use WWW.ALIBABA.COM for finding distributors and also overseas manufacturers.
- Export to another country something which is cheap in your country but might not be available in other countries easily (for example fruits which are common place in one country but are rare & costly in other countries).
- Manufacture something that is niche, can be made with lower cost and for which inventory risks are low.
- Become a distributor of an upcoming (growing in popularity) product or an established product but which is yet to penetrate the market in a particular city, state or country (market wise).
- Identify a city or town which has very less means for entertainment and start something for entertainment; it could a bowling alley, a place for playing games or even just a place for eating with lots of magazines, board games and music.
- Become a Franchisee of a popular brand.
With less investment
- Open a fast-food stall or an eatery in a crowded part of the city; remember that food will sell anytime, because it is required for human survival.
- Open a niche local business or service that is not readily available in that place.
- Open a tuition centre in a rented out hall or room and have yourself or others teach academics or even skills like playing the guitar, singing or painting.
- Open a shop selling rare fruits & nuts
- Become a garage sale organizer
- Sell custom made-funky t-shirts printed with the latest internet memes and also popular ones like Benny Lava & Techno Viking.
- Manufacture from home and distribute FMCG goods like packed or tinned food, soaps etc.
- A real estate broker; takes time to learn the tricks of the trade and get contacts but is very lucrative.
- Insurance agent; takes time to get new leads for insurance, but with hard work one can earn quite a lot.
- Lead generation and commission based agent for anything like finding new distributors for manufacturers to finding new retails for distributors. Take a look at your local newspaper’s classifieds section or in Craigslist for such type of work.
- Anything related to brokering; could be a used car or two wheeler broker, house broker (as a middleman between house owners and those looking to rent out property) or even a middleman for high networth second hand goods like manufacturing machinery and the like.
Skills that you can learn and use to start a service oriented business (without requiring formal education)
- Learn music instruments like playing the guitar, piano, violin etc. You can then teach others or earn by playing in the local club or in a music concert.
- Learn art oriented skills like painting (name boards), calligraphy, hand-woven clothes, tattooing, nail art or even singing. I have seen a guy who can draw people’s faces; he puts up a stool, a drawing stand in a crowded shopping complex or tourist spot and charges a good sum for drawing people on the spot.
- Take a walk in the local market and see what are the things available for sale in each shop and the things that each shop uses. Some examples could be name boards, computers for billing, bags for carrying grocery etc. Do you see a business opportunity here? Can you charge the people for advertising & popularizing their shops or business on the internet or by other means like printed pamplets inserted into newspapers? How about starting a micro-local website?
- Learn software programming or designing and earn selling out-of-the-box software scripts, mobile phone apps or designing websites.
- Like photography? How about capturing nice shots and then selling them as mobile phone downloads on the iPhone, Android and Windows phone platform?