If you had 5,000 to 10,000 dollars and had to open a business what would you do?

Question

This is a chance to make a business for myself and all I have is about 10,000 dollars. I need some good business ideas for Anchorage Alaska...

Answer 1

Hi,

I will share my opinion and please take it as merely that. My opinion. I am not trying to sell anything, nor am I affiliated with any company. However, I have been a part of two successfuly businesses which started with that amount of funding.

My first suggestion is to completely ignore all the internet, get rich quick web sites. If it were really that easy to create wealth, then people wouldn't be pushing it. With my businesses, I wanted as little competition as possible since it would cut into my profit margins.

The second suggestion is to find something you really enjoy, and know something about. As an example, a good friend of mine teaches art and makes paper. She and her husband created paper making kits and have been selling them online for years. This won't make them rich, but they enjoy it and it almost pays their mortgage.

When looking for your business, specialize. Internet guru, Sean Roach always says "There are riches in niches", and it is so true. You cannot possibly compete with amazon or walmart so you must pick one area and focus on it. Did you know the company which founded hammocks.com was recently named one of the fastest growing companies by inc. Don't think a small market means you are forced to make a small company.

In closing, I definitely hope I have sparked your interest. Starting a business can be very fun and rewarding. I also highly recommend you reading "The monk and the riddle" from Harvard Business Review which goes through the story of a person in a similar situation as yours and the decisions he makes along the way.

Cheers,

Leo

Answer 2

You may want to take a look outside Alaska or even America to see what kind of business in the other areas that is not already in Alaska and bring it in to your homebase.

Franchising will be another idea. But seriously look out for what Alaska needs, or what you think Alaska needs.

Just one comment - it is weird that you are thinking of a business opportunity cos you have the money. If you are thinking of "growing" the money - how about just do some day trading?

Answer 3

I would look for an existing online business (such as a highly trafficked website or blog) whose owner had not realized its potential and purchase it. You need to think about how much profit it can generate in the long term. I have websites making $4K and upwards per month. You won't get many offline businesses selling for less than $100,000.

By the sound of your question you are looking for a business opportunity. There are many business opportunities out there but there is a world of difference from a business opportunity seeker and an entrepreneur who doesn't need to rely on 'opportunities' to become successful.

Just some food for thought...

P.S. One word of warning avoid people trying to sell you 'home based business opportunities' with claims of how much you can make in one day!!

Answer 4

If you're open to the idea of bringing in additional streams of income working from the comfort of your own home, visit http://www.bedavis1.mywayout.net and watch the simple proven formula presentation that not only tells about the business but how it works too. While doing research, do check with the BBB (better business bureau) on any company you're looking at for legitimacy, ill complaints and ratings of the company. Robert Kiyosaki's book (from the Rich Dad Poor Dad) "The Business School" says this is the way to go!
Good luck on your endeavor!

Answer 5

I know of a great business opportunity that you will only have to invest a very small amount of money. This is a great business opportunity for Alaska. You can visit my website listed below. It is pretty vague but if you are serious please request more information while on the site.
http://ppeterson.stayinhomeandlovinit.com
Pamela

Answer 6

I would organize an agency for doing housework:cleaning,doing laundry,going to supermarkets-for old or very busy people.You can also invite some friend who went to the medical school,to nurse old sick people etc.,and also some girls to do babysitting etc.