If you had $1000 to spend on a new business, what would you spend it on and why?

idealmike Level X³

November 18, 2016, 6:41 am

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If you had $1000 to spend on a new business, what would you spend it on and why?

Hi all. Let's say that someone gave you $1500 to start a new business with. And they said to you, you can create any business you want, but in 6 months time, I want to get my $1500 back with interest. What would you spend it on and why?

How would you turn that $1500 over by 6 months time? What sort of things would you do (buy) with it to see your money earned back, doubled or even trebled+ in 6 months time?

Would you outsource the web design?
Would you invest it in a theme/template?
Would you spend any of it on SEO / promotion and marketing?
What about things like content creation? Would you buy that?
What other things might you put that money towards for the business to grow?
Would you spend any of it on Adwords and the like?

What would be the best way, the best business idea you could come up with, to put that $1500 to good use and see an ROI of at least 3x that amount in 6 months time?

How would you go about it and why?

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EliteWriter

Since $1500 is not much I would not be able to rent an office, even though it is a secret dream of mine to have a nice office where I can have clients come to me personally lol. But it is not practical and not cost effective either. So I would most probably start by hiring a web designer to create a site for me and to see to its advertising, and also someone who can work on getting me affiliates as unfortunately I am short of them and have no time to devote to working on this.

8 years ago

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hitmeasap

This topic could be very interesting Mike. I'll make sure to come back and read it once others have replied!

However, $1500 is probably about what one of my current projects will cost, so I can't mention it right now though. As it's actually JUST started. That being said, what I had to do for this project, was to talk to a bunch of different people. First to ask more or less "general" questions about certain related things, without them knowing exactly what it was all about. That's how I both pitched the idea and got potential clients on the list, even way before I actually have the product. - So that's kind of cool!

Secondly I had to go with a handful of people, and talk with them more in detail, and still not reveal the exact thing I'm looking for but give them more details. - That's how I actually landed a developer for the entire thing.

And when I got him onboard, he still wasn't even aware of the exact thing I was looking for. LOL!

Best part is, that I haven't had to pay a single cent yet, so I'll be able to spend money on hosting, some sort of "salary" for the developer and further on, hopefully, I'll be able to hire someone to do some SEO for me for starters.

So with all that said, I'd go with "SEO" and "Advertising" for the $1500. As I personally feel that would benefit the most right now, or when I have the product launch-ready, but if I can come up with some other ideas I'll certainly share it with you here!

8 years ago

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Webguy2024

I think I would spend the money on programming to launch some small web or mobile apps. Wait I had an after thought... I would buy another computer. This would give me a longer term benefit and the most bang for the money invested. I would also look at online advertising to recoup the money spent for the computer or the programming.

8 years ago

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MasterA

If you want to earn profit and money in six months then the best thing to do is probably selling something. You don't have enough money to acquire an existing business so you will need to start your own business. If you do for something like a website or app, then it will take too long to build up traffic to earn money with it and your main source of revenue will probably be ads which is not very reliable with just 6 months time to earn $1500 back. Therefore ecommerce is the way to go. Firstly, you need to find cheap supply of products. Then I would use a open source ecommerce software like Magento and customise it to your own needs to save money. Then work on SEO, marketing and do everything yourself and hopefully this will succeed. This is just a suggestion of what I will do. However, starting a business requires a lot of thought and planning so I won't go into too much detail today.

8 years ago

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Lynne

I would put that into my next website that I am busy with. I am sure that would solve my problem of coding it to suit my needs

Honestly though $1500 wouldn't take you very far would it? Like my next move would be to have someone do some marketing and signing people up in our area and $1500 wouldn't cover coding and a staff member!

I would also want to invest money in SEO for my new website... maybe there will be a little left over to just get a start on buying some really good SEO services.

8 years ago

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Cristian

Create a massive outscoring campaign, I would buy services from cheap sellers and sell those service at higher prices to other sellers. If you put a mind to it and you really want to have an ROI on that 1k you will achieve it!

I don't see why this could fail, I've done it a lot, in truth at a smaller scale but nevertheless, I have the process in place I only need to roll the money on a bigger scale without taking the profit out, at least for a while.

8 years ago

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hitmeasap

Sounds interesting Cristian. I actually did this in the past and sure, I was doing this on a small scale, but it sure is possible to scale it and grow this into something awesome.. However, I personally think it's extremely time consuming. Most of the times it's just a few messages here and a few orders there etc, but you'll always need to be "on top of the game" so to speak, and make sure that the quality is decent enough to deliver to your clients, handle support issues etc. - How would you solve these things? - Would you do it yourself, and just use that $1500 to buy services?

8 years ago

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CryptoGuru

With 1000 dollars i probably wouldn't start a business i probably would buy Dash coin and hold onto it. Since Dash has passed Ethereum in market value it has been something i have been following very closely. In 6 months i think dash will be in the $25 dollar range so i would probably double my money. You could start a small exchange for this amount of money as well. That is probably what i would do and start with a maximum of $75 per exchange until i turned that $1500 dollars into more. I would focus on the big currencies only ones that i know people will exchange. With the rite amount of marketing and a low exchange price you could turn 1000 into 5-6000 dollars in 6 months. Over the next 5 years if your able to grab the crypto world by storm you could have a multi million dollar business from 1000 bucks.

8 years ago

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Barida

I would have to set up some big tech firms in my country that will take care of building up software that will be used by most companies to get better with the work that they do. I want to improve that sector and hopeful that I will prosper with that.

7 years ago

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Corzhens

That $3,000 is big money here although for a business I think that would just be enough for having an e-commerce website. Perhaps it can be an e-commerce for affiliate marketing with a sub-domain for my blog which will be my main line. Getting 2 moderators who will also act as my virtual assistants can give me convenience in handling the said website.

6 years ago

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Seocheckout

If you had $1000 to spend on a new business, what would you spend it on and why?

If you had $1000 to spend on a new business, what would you spend it on and why?

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