You are probably trying to build a business under 10k but are unsure what to do and what not to do. You might have an idea but could be unsure if it will burn your wallet or make it heavier.
Are things getting messier in your head?
We ask you to take a backseat for a few minutes because we have done the homework for you.
Here is a list of business ideas you can start under 10k:
- On-Demand Mentorship
- Your Skills on a Subscription
- VC Scout
- Notion Template Marketplace
- No Code Agency
- Web3 Startup Studio
- Productized Content Marketing Services
- Cohort Course for No Coders
- Self-Paced Music Courses
- Niche Job Boards
- Paid Communities
- Lead Generation as a Service
- Remote Employee Engagement Tool
- User Feedback Platform
- Platform for Collaborative Reviewing
Let's dive deep into these business ideas:
1. On-Demand Mentorship
Background:
All great industry leaders dedicate their success to their mentors that fostered their passions and guided them down the right path.
With the world shifting to computers, finding the right mentor fit has now become 10x easier.
Mentorship platforms connect employees, entrepreneurs, and newbies with seasoned experts who’ve been there, done that.
76% of people understand the importance of mentorships, but only 37% have one. This indicates that niche-specific mentorships will be in great demand hereon.
Digital marketing is crucial for attracting both mentees and mentors to these platforms.
The Idea:
- Build a platform listing mentors of various niches where mentees can find their right fit.
Factsheet:
- Industry/Category: Edtech
- Possible Business Model/s: Subscription-based, Freemium, Pay-as-you-go
- Revenue Potential: $10,000 to $100,000+ per month
- MVP Build Time: 4-6 weeks
- Successful Examples: GrowthMentor, Clarity.fm
2. Your Skills on a Subscription
Background:
After 2020, the entire job pattern is changing. In order to broaden their opportunities and exposure, people look to work remotely with clients around the world.
They want a stable income but also want to be their own boss. Both of them together aren’t possible in a business or as an employee.
We suggest selling your skills-as-a-subscription which promises a stable income with the flexibility of work. Leveraging social media marketing can significantly enhance your visibility and attract more subscribers by building a strong online presence.
The Idea:
- You can either build a skill-as-a-subscription platform or sell your skillset on a pre-existing platform.
Factsheet:
- Industry/Category: Marketplace, Education
- Possible Business Model/s: Subscription-based
- Revenue Potential: $2,000 to $10,000+ month
- MVP Build Time: 2-4 weeks
- Successful Examples: Open project, Open SaaS
3. VC Scout
Background:
VC scouts are startup operators and entrepreneurs that work with venture capital firms and are responsible to invest money in startups on behalf of a VC firm.
They help venture capitalist firms find hidden, great companies and founders to invest in before everyone else.
VC landscape is thriving particularly due to the rise of micro-funds.
However, it has also become very challenging to get the founders’ attention as the competition is strict. This is where VC scout programs are proving to be extremely useful.
In most cases, scouts share between 10% and 20% of the profits interest of the VC firm.
The Idea:
- Build a program where VC scouts help venture capitalists find the best companies and cofounders to invest in before anyone else. You can also build a community of fellow VC scouts or become one yourself.
Factsheet:
- Industry/Category: Startup
- Possible Business Model/s: Cash-on-deal, Startup Equity, Subscription-based
- Revenue Potential: $2,000 to $10,000 per month, and significant wealth creation opportunities
- MVP Build Time: 4-6 weeks
- Successful Examples: Superscout, ScoutVentures
4. Notion Template Marketplace
Background:
Productivity is the buzzword, and Notion is its synonym.
There are over 30 million active users on Notion. But not all of them are there for productivity.
New-age Notion users use this app to manage social media, build business plans, take notes and even build no-code sites.
But setting up a notion board from scratch can be time taking. With the right strategies, creating and selling Notion templates can be a successful business.
The Idea:
- Create templates that entrepreneurs, freelancers, marketers, and students can use. You can also build a marketplace for notion templates and sell yours too.
Factsheet:
- Industry/Category: Design, Marketplace
- Possible Business Model/s: One-off pricing, Cost-per-template
- Revenue Potential: $3,000 to $10,000+ per month
- MVP Build Time: 4-6 weeks
- Successful Examples: NotionJoy, Notionery, Notioneverything
Also Read: 15 Aesthetic Notion Templates for Startups & Solopreneurs
5. No Code Agency
Background:
No-code and low-code have transformed the way we work and build businesses.
84% of enterprises have turned toward low-code/no-code for their ability to reduce strain on IT resources and increase speed-to-market.
While more and more people are looking to build their online businesses, they don’t want to spend time learning the nuts and bolts of no-code.
Although it is some of the easiest techs to learn, it's better to find an expert who can guide people through the process.
The Idea:
- Build a no-code agency of experts to help businesses with their low-code and no-code development needs.
Factsheet:
- Industry/Category: No-code, Marketing
- Possible Business Model/s: Pay-as-you-go, Flat-pricing, Subscription-based
- Revenue Potential: $5,000 to $30,000+ per month
- MVP Build Time: 2-4 weeks
- Successful Examples: 8020, AirDev
Also Read: Best No-Code Agencies for Businesses that Want to Move Fast (& Reduce Costs)
6. Web3 Startup Studio
Background:
Startups are a hot topic right now. Every industry you can think of is disrupted and changing.
And with the Web3 revolution being in its early stages we now have the opportunity to lead from the front.
However, ideating, building, developing, and launching a startup isn’t a cakewalk. Startup studios provide support and capital to early-stage startups.
It's a group of seasoned founders, investors, and specialists that develops concepts or works with entrepreneurs with revolutionary company ideas.
The number of studios across the globe now tops 200, with more popping up on a regular basis.
The Idea:
- Bring the Web3 industry experts to one place and helps the rookies in the industries to pave the path.
Factsheet:
- Industry/Category: Web3
- Possible Business Model/s: Startup Equity, Subscription-based
- Revenue Potential: $3,000 to $12,000 per month
- MVP Build Time: 4-6 weeks
- Successful Examples: Betaworks, PYRATZLABS, 3founders
Also Read: Best Startup Studios that Leverage No-Code to Build Your Product Within 4 Weeks and a $5K Budget
7. Productized Content Marketing Services
Background:
Content marketing is an increasingly used tactic to increase brand awareness, boost online visibility and reach the target audience.
However, it can be challenging to deliver high-quality content on several platforms consistently and optimize marketing campaigns.
That is why companies are investing in effective content marketing services as competition becomes more fierce. 47% of companies had planned to grow their content teams in 2022.
The Idea:
- Offer productized content marketing services to your subscribers – content repurposing, content writing, SEO, and more – for consistent content campaigns.
Factsheet:
- Industry/Category: Content Marketing
- Possible Business Model/s: Flat-pricing, Subscription-based
- Revenue Potential: $30,000+ per month
- MVP Build Time: 2-4 weeks
- Successful Examples: Daily Content Machine, Embarque.io
8. Cohort Course for No Coders
Background:
People began to learn new skills during the covid. Now that time has passed, they are still looking for ways to upskill.
The building of new digital products has traditionally relied on coding. But now, the tides are turning towards no-code.
84% of enterprises have turned toward low-code/no-code for their ability to reduce strain on IT resources and increase speed-to-market.
Cohort courses are great for learning practical skills like no-code. You don't get to binge-watch the videos; instead, you are being pushed to take action. Knowledge of digital marketing is crucial for promoting these cohort courses to reach a wider audience and attract more participants.
The Idea:
- Create a platform where other creators can sell their live classes under their brand to learn no code.
Factsheet:
- Industry/Category: Edtech, No-code
- Possible Business Model/s: Subscription-based, Flat-pricing
- Revenue Potential: $5,000 to $50,000 per month
- MVP Build Time: 6-8 weeks
- Successful Examples: Apps Without Code, Makerpad
9. Self-Paced Music Courses
Background:
There are more options than ever for aspiring musicians to hone their skills. With digital transformation on the rise, almost anything can be learned via online courses.
But, not everyone can join the live classes. People with busy lives prefer self-paced courses giving them the liberty to upskill whenever they wish to.
This also helps users and course creators overcome the timezone barrier.
Self-paced music courses can be a great business idea for aspiring entrepreneurs, offering flexibility and accessibility.
The Idea:
- Create a self-paced course platform based on a niche where fellow creators can sell their pre-recorded courses, and music enthusiasts can learn various music and instruments.
Factsheet:
- Industry/Category: EdTech, Music
- Possible Business Model/s: Flat-pricing
- Revenue Potential: $3,500 to $35,000 per month
- MVP Build Time: 6-8 weeks
- Successful Examples: PianoLearners.com, Natural Music
10. Niche Job Boards
Background:
Traditional job boards are becoming outdated, with nearly 50% of all job applications now originating from online job boards.
These platforms provide a more efficient way for employers to connect with job seekers, but the challenge remains to stand out in a crowded marketplace. This is where niche job boards come into play. By focusing on specific industries or job roles, these boards cater to a well-defined audience, making it easier for employers to reach the right candidates.
With the rise of recruitment automation tools, these niche job boards can further simplify the hiring process by streamlining tasks like candidate matching, job posting, and application tracking. This combination of focused job listings and automation helps businesses cut down on recruitment time and costs, while still attracting high-quality candidates from diverse backgrounds.
The Idea:
- Build narrowly focused niche boards that cater to specific industries and jobs.
Factsheet:
- Industry/Category: Recruitment, Jobs
- Possible Business Model/s: Affiliate/Commission, Freemium
- Revenue Potential: $5,000 to $45,000 per month
- MVP Build Time: 4-6 weeks
- Successful Examples: Diversify Tech, Work With Indies
11. Paid Communities
Background:
In today’s connected world, people want to be in touch with their peers and like-minded tribe, online.
Communities are a great way to bring similar interest people together.
Businesses are too leveraging this trend. The 2020 Community Industry Trends Report says that 88% of community professionals believe that community is critical to the company’s mission.
However, free communities tend to be chaotic without any barriers to entry. Whereas, paid communities have dedicated people who engage more often, meaningfully. With the right strategies, paid communities can be a successful business.
The Idea:
- Build a paid community for a specific niche where people can meet like-minded people, and learn through content, coaching, consulting, and peers.
Factsheet:
- Industry/Category: Community
- Possible Business Model/s: Subscription-based, Freemium
- Revenue Potential: $5,000+ per month
- MVP Build Time: 4-6 weeks
- Successful Examples: Founders Cafe, Rosieland
12. Lead Generation as a Service
Background:
Lead generation continues to be a key focus for businesses and marketers right now – but it’s getting tougher.
Prospecting for sales is time-consuming, stealing hours away from other sales activities that could drive profits.
61% of marketers consider generating traffic and leads to be their biggest challenge.
To save this time, companies are hiring lead generation experts and/or lead generation agency to lessen their burden.
The Idea:
- Build a lead generation agency with a pool of talents from a niche industry - marketing specialists, copywriters, or designers.
Factsheet:
- Industry/Category: Marketing
- Possible Business Model/s: Pay-as-you-go, Flat-pricing
- Revenue Potential: $2,000 to 10,000+ per month
- MVP Build Time: 2-4 weeks
- Successful Examples: Lead Cookie, SeeResponse
13. Remote Employee Engagement Tool
Background:
A study of 61,000 Microsoft workers found that working from home hampered team collaboration, and poor communication is to blame.
Addressing this problem is the need of the hour as the demand for remote work is increasing.
It’s important for employers to choose the right tools for their employees to engage them to increase their productivity, also making them good leaders.
The Idea:
Build a remote employee engagement tool integration for professional communication platforms like Slack or MS Teams.
Factsheet:
- Industry/Category: Team Productivity
- Possible Business Model/s: Subscription-based
- Revenue Potential: $5,000 to $25000+ month
- MVP Build Time: 6-8 weeks
- Successful Examples: Standuply, Motivosity, Culture Amp
14. User Feedback Platform
Background:
Customers are the core of any business. Their feedback plays a crucial role in improving and elevating the product, also serving up an all-around great user experience.
Feedback can come in a wide variety of formats resulting in large volumes of mostly irrelevant, highly-variable data. That is why it is important to have user feedback software in place. A user feedback platform can be a great business idea for aspiring entrepreneurs, offering a low-cost entry into the market with significant revenue potential.
A platform that would help the businesses get direct audience feedback will make the businesses scale fast.
The Idea:
- Build a user feedback tool to collect feedback in a systematic way in one place and notify customers of changes.
Factsheet:
- Industry/Category: Customer Management
- Possible Business Model/s: Flat-pricing, Subscription-based
- Revenue Potential: $2,500 to $30,000+ per month
- MVP Build Time: 6-8 weeks
- Successful Examples: Upvoty, Sleekplan
15. Platform for Collaborative Reviewing
Background:
It’s not just the designer or the developer running the business alone. Every product, marketing collateral, website, app, and designs need the teams’ feedback.
But calling for everyone's approval one by one slows down the process.
With collaborative reviewing, teams can now come together to provide their reviews, feedbacks, suggestions, or comments – cutting down the approval time to almost half.
The Idea:
- Build a tool for teams to collaboratively review apps, websites, marketing collaterals, and more.
Factsheet:
- Industry/Category: Website Review
- Possible Business Model/s: Subscription-based, Freemium
- Revenue Potential: $40,000+ per month
- MVP Build Time: 6-8 weeks
- Successful Examples: Pastel, Ruttl
Final Thoughts
That's a huge list. Choose what aligns best with your interest and expertise. Don't let fear take over the winning spirit in you.
You can start your journey by observing the examples. They will help you to understand your client/ customer pain point.
Now, time to answer some of your most common questions on businesses to start with 10K or less:
Can I open a business with 10k?
Yes, you can start your business with just 10k. You can start any of the above ideas for under 10k. Additionally, you may consider availing small business loans or seeking financial support to kickstart their projects, say, options like startup lines of credit.
This can provide you with the flexibility in funding while navigating the initial stages of development.
How do I invest 10k?
You can invest 10k in many ways. They can be a one-time investment with less return. But if you want more ROI, you can start a business with 10k.
What can I do with 10k?
The smartest way to use 10k would be to start a profitable business and 10x the money. All the above business ideas can be implemented under 10k.
Which is the cheapest business to start?
Some of the cheapest businesses to start are:
- Freelance services
- Digital products
- Consulting
- Tutoring
Which is the easiest business to start?
Service-based businesses are the easiest to start. You can monetize your expertise by providing freelance services to clients.
Selling digital products is another easiest business to start.
What businesses make a lot of money?
Here are some businesses that make a lot of money:
- Selling online courses
- Consulting
- E-commerce store
- Web Designing
