Today, you do not need substantial investment to launch a business in India. Here are three simple yet effective ideas. They can help you achieve financial independence but require very little capital.
1. Enter the Dropshipping Industry
Launch an e-commerce business without the need to stock the products. To start, you need a website where you can list the items you sell. These will be provided by your suppliers. Contact AliExpress, IndiaMart, and the like to establish cooperation.
The next step is to promote the website through social media and other digital channels. When an order is received, you contact the supplier and request delivery to the customer’s address. The profit is the difference between the supplier’s price and your selling price. Dropshipping websites may charge as much as three times the original price.
2. Try Online Trading
The pandemic has made online trading more popular than ever. In 2020, millions of people were stuck at home with time on their hands. This accounted for the rise in forex trading volumes. Many now view apps as an opportunity to become their own bosses and break free from work routines.
Not everyone is wired to be an online trader, though - you need persistence and strong analytical skills. Still, education is completely free, and the largest financial market is a tap way. In India, it is possible to open a live account with just $10.
Online traders buy and sell different financial instruments using cutting-edge platforms like MetaTrader 5 or FXTM Trader. The range includes currencies, stocks, and derivatives like CFDs — 250+ options! Many of them follow the same logic: buy low and sell high. As the prices are constantly changing, carefully timed trades bring a tidy profit.
The results depend on how much you are willing to invest, your risk tolerance, and fundamental market forces. For example, online stock trading in India with ForexTime has two dimensions. These are stocks and derivatives (CFDs) linked to them.
Through Contracts for Difference, clients speculate on the stock exchange without owning any shares. These instruments are more accessible, and they are great for portfolio diversification. As highly leveraged tools, CFDs let holders trade larger volumes than their balances allow.
Take advantage of free educational resources and polish your skills in the demo mode of a powerful trading terminal. Responsible brokers make sure their clients get guidance at every step of the way. Go live, start small and gradually grow your profit.
It is important to be cautious, as financial markets are not always predictable. Traders learn to implement rigorous risk management techniques to protect what they have. With time, you will develop a diversified portfolio with exposure to unrelated markets.
Diversification will boost profits and reduce potential risks. This is possible because failures in one market are compensated with the profit made elsewhere. It is a balanced system of investment that can bring income for years.
3. Monetize a Website or Blog
Website owners can make easy money using automated systems like Google AdSense. The idea is simple: the network matches them with companies automatically, eliminating the need to search for advertisers. Revenue depends on the subject of the website and its number of visits per month.
For example, the topic of home and gardening is quite popular, so you can reap at least $7,000 per year if the platform gets 50,000 visits monthly. If you are passionate about sharing your knowledge, and your content keeps the readers' attention, you can move mountains. The most popular websites are designed by professionals. However, you can start with something less complex (e.g., WordPress templates).
Create engaging articles with different media like videos, GIFs, podcasts, etc. Your website may be a blog. While vlogging now seems to surpass blogging in popularity, there is still interest in the written word.
The beauty of modern systems is that you do not have to search for companies willing to pay for advertising space — let the algorithm handle it. Your website may also sell products, or include features like donations. The more popular it is — the higher the ad revenue and the better the prospects.
Finally, you can take advantage of affiliate marketing. This is when websites post links to e-stores or brand pages, so visitors can learn about their products and place orders. A share of each sale constitutes the affiliate marketer's commission.
Start Earning Money Today
Given the low Investments requirements, there is no reason to delay starting your own company. The internet gives us plenty of ways to turn our knowledge, skills, or foresight into cash. Being your own boss feels great, and it can change your life for the better.
