I wanted to get rid of a paint sprayer and decided to make some quick money on eBay. I listed the item last week and sold it within a week. It was too heavy to ship, so a local sale was the only option. Fortunately, I live in Chicagoland and with over 8 million residents (city and suburbs), finding a buyer was likely.
The process was simple, I went with the auction option, and a starting price of $100. Two or three days after the initial listing, I received a request for more photographs from a potential buyer. I supplied 4 more pics, one from every side.
The buyer got back to me a day or two later and offered the $100. I took it, and since he lived 20 minutes away, he picked it up. This was the easiest $100 cash I ever made. He was a professional painter and I needed the money. Win-win.
The process is simple and easy. If you want to make money, list something of value on eBay or similar, provide details when requested, and collect the money.
This doesn’t work every time, of course, and I still have a set of 12 handmade crystal water and wine glasses that people like, but I can’t sell. I’ve tried Etsy, Craigslist, and now eBay. No dice. No value to anyone at this time. No surprise – crystal glasses are not a hot holiday item.
But the paint sprayer – quick money on eBay. Works for me.
Useful finance websites that give current information on various personal
finance and credit topics are listed below. Internet addresses ending in “.com” are commercial, “.org” are nonprofit, and “.gov” are government.
American Savings Education Council (www.asec.org)
Better Business Bureau (www.bbb.org)
Budgeting Information (www.lifeadvice.com)
Cable News Network (www.cnnfn.com)
Credit Counseling Services (www.moneymanagement.org)
Credit Card Information (www.cardweb.com)
Credit Reporting Agencies:
Start something…anything! And see it through to the end.
Seriously, the biggest difference between founders and “wannabes” is that the latter spend all their time talking, while the former just do it.
It doesn’t matter whether it is a lemonade stand, a church outing, a corner basketball team, or a charity drive. What you want to get experience in is:
- Choosing an idea
- STARTING IT
- Rallying team members around your cause
- Pulling together required resources
- Making decisions
- Running operations
- Dealing with other constituents
- Seeing the project through to the very end, whether it is success or failure (which one it is, is much less important than all the steps along the way.
Jessica Lawrence, the highly entrepreneurial CEO of the 46,000 person NY Tech Meetup, came to us from having run a Girl Scout region…in which she had done all of the above. And that was a perfect background for the job!
Originally published by:
David S. Rose, Entrepreneur, Investor, Mentor, Founding Entrepreneurship Chair at Singularity U
Generating business ideas seems hard, but that isn’t always true. Don’t try to re-invent the wheel, but think small – an improvement or modification of existing products or services. Facebook was a better version of MySpace and Friendster, for instance. Google was an improvement to Alta Vista, Lycos, and Yahoo search.
GI Joe was a boy version of Barbie. The inventor, Stanley Weston, a Hasbro executive put a plastic soldier figure with a gun and called it “an action figure.”
How does one generate business ideas?
- Via work experiences (insider information)
- Hobbies that you like (expertise)
- Collect complaints and think of a solution
- Take an inventory of your skills and knowledge
- Note things that you need to make life better
These graphs are from Peter Baskerville, an entrepreneur I found on Quora.com.
Here are some checklists with examples of ideas generated both for products (top) and services (bottom).
After figuring out the next iPhone or Pet Rock, test the idea on friends if well-received, create a prototype. Put the prototype on Facebook or Pinterest and get comments or criticisms.
Yes, you can start a business for $50. The business can be product or service-oriented, full-time or part-time, from home or not. Here is how the costs break down:
- Using Google, enter godaddy into the search box. Click on the $0.99 domain name box.
2. Go to 1 Dollar Hosting. Buy 12 months of website hosting for $12.00
3. Go to fiverr.com and hire someone to design a logo for $5.00
4. Design a website on WordPress.com for free.
5. Host the website on 1 dollar hosting.
6. Figure out what you want to sell or a service to provide. Candles to yard work. Whatever you want to do
7. Partner with a friend and double your efforts.
8. Set up a PayPal account. Integrate the PayPal account with the website.
9. Sign up for social media platforms, hopefully with the same domain name
10. Start blogging or put product on your site to sell. Advertise your services.
You spent $18 and a little time. Spend the rest on materials if you need them or buy a few pizzas. Or save the $32.00 for a date.
Whichever way you choose, start a business for $50.00 or less.
You’re welcome. Have a nice day.