Business Ideas

Non-Running Finance/Jobs

2 years ago 05/13/2021 9:05pm EDT

So I have a little extra cash from selling a house when I moved. I do not want to buy a new property and am looking into different side business ideas that can 'somewhat' manage themselves.

If you had 20k and wanted to put it into something somewhat self sufficient what would it be?

My theory right now is some kind of service that most people just do not buy their own equipment for and I could hire people to run it. For instance if I bought some lawn equipment, found yards to be cut, and hired someone an hourly rate to do it. I know there are other industries like people renting bobcats or dirt trucks. Just curious what ideas people may have?

2 years ago 05/13/2021 10:00pm EDT

re: TrackCoachUhahah

TrackCoachUhahah wrote:
So I have a little extra cash from selling a house when I moved. I do not want to buy a new property and am looking into different side business ideas that can 'somewhat' manage themselves.
If you had 20k and wanted to put it into something somewhat self sufficient what would it be?
My theory right now is some kind of service that most people just do not buy their own equipment for and I could hire people to run it. For instance if I bought some lawn equipment, found yards to be cut, and hired someone an hourly rate to do it. I know there are other industries like people renting bobcats or dirt trucks. Just curious what ideas people may have?

All business requires management. It's not a cake walk. Lawn care is cut throat.

2 years ago 05/13/2021 10:12pm EDT

re: TrackCoachUhahah

No matter what sort of business idea you decide to invest that money into, it isn’t going to be as easy as you think to turn a profit so you better pick something that you either a. really enjoy or b. are really good at because you are going to be spending a lot of time working at it. You also need to be willing to walk away from that $20k when it turns out your idea was a dud and no longer worth investing more money into it.

With that in mind, if you only have $20k at your disposal, figure out something which only requires $5k to get going (on paper). In reality, you’ll spend $10k. If it fails (and it likely will), you’ll still have $10k left to try again with a better idea.

I say this as someone who had made investments in my own ideas ranging from a few hundred dollars to tens of thousands. So far, all of my most profitable ideas have been those that started with only a few hundred dollars spent initially. My worst loss was also the idea in which I invested the most money.

2 years ago 08/09/2021 10:16am EDT

re: Joe Jackson

In order to have great success with your business, you need to promote it. Plus, you also need to have a site where you tell about your services or products depending on what your business is about. Now, it is very easy to promote it, especially on TikTok where you can gain popularity quickly. However, you don't need to forget about your site, and pay attention to its design. Good luck with building your business. Here you can find some creative ideas https://sitebuilder.reviews/web-design/5-crazy-website-designs-to-spark-your-creativity/

This post was removed.

2 years ago 08/09/2021 10:29am EDT

re: TrackCoachUhahah

Why would you not just park it in a mutual fund? Do you just like the idea of owning part of a business or are you wanting to make money?

2 years ago 08/09/2021 12:48pm EDT

re: TrackCoachUhahah

I own a landscape business. Total investment was closer to $400,000 and the “guys” most definitely do NOT manage themself. I work near 70 hours a week as a small business owner.

This post was removed.

Reply Replying to

Username

Password

Leave the password field blank to post anonymously.

Post Preview

By posting you acknowledge that you have read and abide by our Terms and Conditions.

Remember me on this device.

Business Ideas

Of General Interest

This thread has already been deleted.

You have been subscribed.

Business Ideas

Follow Joe Jackson

Block Joe Jackson

Follow Foryseph

Block Foryseph

Follow SummerSlogger

Block SummerSlogger

Of General Interest

This thread has already been deleted.

Reply Replying to

You have been subscribed.