Like the title says I’m looking for advice. I’m 21 years old I’ve been homeless twice in my life and I’m sick of working a profit-less grind. I recently had an insane stroke of luck and came into more money than I’ve personally ever had, $5,000. I’ve done a lot of reading and research and now I just want suggestions for something with any decent return with my current price. A lot of what I’ve read about are 100k+ investments. Since I have a small amount I need ideas for something attainable at my level. I do understand that smaller investments yield smaller returns I’m just trying to get the ball rolling. Thank you for reading and any suggestions you might have.
Also in case this comes across like I’m trying to get rich quick with no work I want to say that is not the case at all. My grandfather was a small businessman right up till the end. I understand the amount of work and time you have to put into being an entrepreneur. I’d very much rather put in strenuous work and make a difference and a good living on my own then work to make a millionaire richer.
What do you have an unfair advantage at?
i.e. some background, probably something you take for granted? A head start vs others?
Setup a service business first. $5k is not that much and it’ll go fast, but you can start a service biz for like $2k that banks $$$, then spend another $1k-2k on marketing and advertising, and you’ll be off to the races.
“boring” businesses - gutters, handyman, even Christmas lights can make $$$ if done right.
Hey there, sounds like you’re ready to turn that stroke of luck into some serious hustle! With $5k in your pocket, you’re already ahead of the game. Think of it as your seed money. Ever heard of the saying, “Don’t put all your eggs in one basket”? Well, don’t invest all your cash in one crazy idea either!
Start small, my friend. Look into things like flipping stuff online – it’s like treasure hunting, but you make money! Maybe hit up thrift stores for hidden gems or explore the wild world of garage sales. One man’s trash is another man’s eBay goldmine, right?
If you’ve got a skill, like graphic design or writing, consider freelancing. Fiverr and Upwork are like virtual talent bazaars. Trust me, people pay for some weirdly specific skills. I mean, who knew writing haikus for cats could be a lucrative gig?
Lastly, education is an investment too. Maybe take a course or two in an area you’re passionate about. You never know when your expertise in underwater basket weaving might become the next big thing.
Remember, Rome wasn’t built in a day, but they probably had a blueprint. So, draw up your plan, stay persistent, and let the entrepreneurial adventure begin!
Here are some that I did over the years, mostly starting from zero.
https://sideprofit.net/my-solopreneur-projects-over-the-last-20-years/
Right now, I just started a Python course.
- Learn a trade/skill.
- Be an apprentice. Learn from someone who is running a business successfully.
- Then, start your venture.
Starting a business as a novice is just a quick way of losing your money. Remember, only 1% of all new ventures survive the first 2 years.
Well… You can start dropshipping business with 1k and it’s profitable if you do it in the right way. Alot of people are making millions with it. But you have to understand that it’s just like other businesses out there that need time and effort to be successful. So its not a bad idea to venture into dropshipping.