There are three main categories of people starting a business. Those who have a great business idea and have startup capital, those who have a business idea but lack startup capital, and finally, those who have the money but don’t know what exactly to do with it.
Now, this is just a funny world.
There are a lot of creative small business ideas out there, and it all boils down to identifying a problem you can solve using N50k that people are interested in paying for your solution. Nonetheless, if you just don’t seem to get those ideas, I will be shedding some lights on some aspects you can actually focus on, tap into, and start a business.
RELATED: Watch this interview with a CEO that started her business with just N50,000 and developed it into an empire
1. Buying and Selling products
Buying and selling has been around for a very long time, and it won’t go anywhere. What are you interested in? Shoes, clothes, bags, perfumes, whatever it is, you can save yourself the headache of “finding great business ideas”, and start something great with this.
Also, don’t fail to approach this from a business perspective. Think about it like it “we’re going to be the biggest business that specialize in” what you want to do, and start to work towards that vision. Pick something that you can spend countless amounts of time shopping for, Something that really excites you. Make your researches as to whether it is really in-demand, and solves a big problem, and work to become a leading brand in that field.
2. Outsourcing products
Are you interested in starting a business that creates some products that you have no idea how to create? Like websites, apps, perfumes, clothes, whatever it may be. You don’t need to be a great programmer, or app developer, or web designer, or fashion designer to get an idea, and start earning from it. Do you have an idea that just requires the right sets of skills and a little amount of money to push up? Then, this should be your target.
Check out freelancing websites like, Freelancer, and just get that product created. You can also make your researches on how to get people that could get your product(s) ready. You can then further use your knowledge in building a business, sales and marketing to start earning from that product.
3. Using a skill
Each and every one of us has something special that we do absolutely well. You can actually build a business around that skill. Web-designing, programming, singing, dancing, etc. Start a business that solves a problem using that skill, and start building a team from day one. You could set up a website, create some great sales pages, create products, or even organize events in-physical. You actually have a skill or know something that people are dying to have. Solve a problem for those people, and watch people depend on you for your solutions.
As eager as I am to help you with staring your business, I want to say something so true that you will also find surprising. Drumrolls, please!
You will not do any of them! And I really mean this here. You may just keep going on, website to website to find that “perfect business”. Reason being that our minds are programmed to tell us “no” to every idea, even if it’s so profitable. We may just get a great idea, then the thought “this thing would be really hard”, then we drop and we do that over, and over.
I want to dare you to do something. Pick one idea, it doesn’t have to be a really “great” idea. Immerse yourself into it, make it an addiction. You will find something amazing – you can produce incredibly significant businesses even from very common, “not-too-far-fetched” ideas. Go ask McDonalds, go ask Great Clips.