How to make a successful business with small capital

How to make a successful business with small capital

How to make a successful business with small capital – You have to prepare everything from the brand to the allocation of funds. When you start a business, the capital you provide does not have to be that large.

Easy and sure to work: 7 ways to start an online business with small capital

As long as it is managed with a good strategy, there are several ways to start a business with small capital. Here are some strategies for launching something important for entrepreneurship:

1. View directions
Business trends are always centered on the times. For example, after previously selling popular fashion accessories, cafe activities are now increasing.

You can observe from social media and the environment around where you live to see which business areas are currently trending.

Social media like Twitter gives you the ability to find out trending topics around you. Instagram, on the other hand, makes it easy to monitor your friends’ activities, such as buying things or enjoying certain foods.

2. Business ID
After studying the current trends, decide which business you want to start. Select a business category to start planning, then narrow it down to a more specific area.

For example, you want to start a culinary business that sells snacks at online stores such as Shopee, Tokopedia, GoFood, and GrabFood.

After making your choice, you should be able to match your choice. The success of business operations is not immediately apparent. Therefore, this task should be pursued rather than short term.

3. Do market research
Market research is an important element of how you start a business with small capital that you should pay attention to. Market research helps identify business opportunities.

Doing this allows you to use product sales data for certain categories via QR Compass. Knowing sales data from your competitors can help you develop the right sales strategy for your business to succeed.

4. Calculate and allocate capital correctly
SME capital is not a problem if it can be allocated optimally.

There are two types of capital that you need to know about: fixed investment and operating costs. Remember to outline the costs allocated to these two types of capital.

The capital expenditures involved include the initial costs of office equipment such as office equipment and consumables.

For example, when starting a dry food business, the investment capital is fried foods such as fryers and plastic sealing equipment and packaging equipment.

The second type of capital is operational costs, or operational costs such as building rent, employee salaries, and electricity bills.

5. Identify strategic jobs
Building rent is usually the biggest expense for a business. Strategic locations usually install high rental prices.

To reduce these costs, you can start a business from home or online first. In this way, rental costs can be allocated for other needs such as operating costs and employee salaries.

6. Determine employee recruitment
When starting a business with small capital, you should not hire employees first. Before deciding to hire employees, first strengthen your abilities.

However, if you’re starting to get overwhelmed with controlling the requests you receive and the employee paychecks are in place, start thinking about hiring. This can be an investment in managing your business well.

7. Online promotion
The final way to start a small business is to take advantage of existing digital capabilities. There are many easy ways to promote your business through social media.

Instagram is now partnering with Facebook to offer advertising features that help more people know about your business.

You can also manually promote your newly launched project by creating your own social media accounts or by chatting privately with co-workers as potential clients.

SME recommendations

Still confused about what business to start? The Kompas team has summarized business recommendations with small capital that you can try right away.

1. Online courses
Do you have experience in a particular field? Online courses are a small business for you. The online course only requires an internet connection and electricity operating costs, in addition to the cost of laptop and headphone equipment.

You can also use free video conferencing platforms such as Zoom and Google Meeting to conduct educational and learning activities.

The field being taught does not have to be a school subject. Currently, you can also take knitting courses, drivers such as Adobe Photoshop and Corel, as well as soft skills such as drawing and cooking online.

2. Rent a car
The car rental business requires relatively large capital to buy a car and hire a driver. However, you can start this business by providing driver services first.

Over time, you will enter the car rental business network and you will be able to develop a larger car rental business.

3. Drop shipper
Becoming a dropshipper is a business that can be done without capital. All you have to do is find the right supplier and set a competitive price.

Dropship is often referred to as a retailer. The technique is to find a product supplier, then re-upload the product and sell it online.

It doesn’t cost anything, but as you know, the benefits of this business are very promising.

4. Translation service
If you have language skills, a translation service can be the right job. The translation business is a very promising business if it can be managed properly.

As with online courses, you only need to manage operational costs in the form of laptop, internet, and electricity costs. The income you can earn can reach millions a month.

5. Snack business
The next business is making snacks. Snacks and snacks are products that are timeless and continue to be sought after by many people. How to start a business with small capital is to determine the type of snacks you want to sell.

The key to the success of this business is to maintain uniqueness and quality. You can sell unique snacks such as egg rendang chips, or old-school snacks such as pasta sticks. Remember that for buyers to believe in your product, the quality of the product must be consistent.

6. Shoe washing business
Currently, the shoe washing business is gaining popularity in Indonesia. This business only requires operational costs in the form of shoe washing soap and water costs.

This small capital can be returned by generating large profits in addition to the number of incoming orders. Later, you can run promotions and other events that can attract more buyers.

7. Frozen food trade
The next business that requires small capital is frozen food. As a first step, you can maintain a pre-order system to save capital.

If you have a good advantage in stock, you can improve the quality of your work by purchasing specialty refrigerators and offering ready-made stock items.

You can do this business at home and promote it online. In addition, customers may be in residential areas, most of whom are housewives or students who like fast food products.

Conclusion

Small capital above how to start a business helps you allocate funds strategically. With the right adjustments, your business can last a long time and generate significant profits.

Don’t forget to do market research to find out the potential success of your business. Knowing the data of popular products and competitors will definitely encourage your business to innovate more creatively.

With the Quick Compass Report, you can study the data that supports the success of your new business.

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