How to Think of Money Making Ideas on a Shoe String Budget

This isn’t new to any of us.  We all want more money and we never have enough money to get started.   We’ll spend our time dreaming about the giant enterprise we’d create if we could only get a bank to loan us that million dollars to get started.  Unfortunately, it’s only easy to get that big bankroll financing after you’ve proved you are successful with your money making ideas.  Thinking about business ideas never makes anyone anything.  Only executing on business ideas matters.  (Unless your money making idea is to sell other people money making ideas.  Hmm.)  

Just because you don’t have anything in your savings account doesn’t mean you don’t own anything.  Many of us have investments that we’ve saved up through our various jobs via 401ks and other retirement plans.  Perhaps you have a cool car, or incredible knowledge of baseball player.  Things you can do or know are definitely assets and need to be considered.

The key to most business startups is leveraging what you have while minimizing the damage from what you don’t have.  If you’re a mom trapped at home cooking and cleaning you could make a little extra food (no significant extra cost) and sell it to the next door single guy.  He’ll love having a real cooked meal every day for less than the cost of your favorite fast food restaurant.   If you have a cool car you could get a company to advertise on it.  You got the car so people would look at you.  Businesses will understand and pay for it too.  It’s about using what you have for your money making ideas.

Because your idea is going to be much customized to your life it is likely that others won’t get the brilliance of your idea as quickly as you do.  It will sound quirky to them.  If they are your future customers you’ll have to sell to them like anyone else by telling, showing, or otherwise proving to them how they will get more value from your new idea.  If the people aren’t customers and just nay-saying friends and family politely listen to their advice and then promptly create a plan to counter all their negative statements.

It doesn’t need to be a million dollars this month to be a worthwhile money making idea. If you can repeatedly produce profit you can leverage idea into a real winner. The key to most successful businesses is adding employees. Once you get the process down don’t be possessive. Train others through hiring and expand the idea to reach more people. Soon you’ll be freed up again to come up with another new idea.