No Cost, Risk Free Start-Up Business Idea | Jim Beach

Jim Beach School for StartupsRecently I had the pleasure of interviewing Jim Beach, of The Entrepreneur School on my Blog Talk Radio show SmallBizFinance.

Jim is an amazing entrepreneur, who has proven time and time again that start-ups can be quickly profitable without risking a lot of capital. Lessons learned and insightful case studies are shared in his new book School for Startups: The Breakthrough Course for Guaranteeing Small Business Success in 90 Days or Less.

As a follow-up to the live interview, Jim wanted to share a no cost, risk free start-up business idea. You read that right, he is freely sharing a viable business idea right here, right now. Thanks Jim!

Learn Jim’s No Cost, Risk Free Start-Up Idea Now!

During my interview with Nicole on her radio show we discussed the role of creativity and risk in entrepreneurship. While both can be part of entrepreneurship, creativity and risk are not required, and when removed, entrepreneurship becomes easier for lots of people.

I wanted to give everyone a freebie, a business idea that any 16 or 60 year old could go execute today for no creativity and no risk.

Every real business in America has a social media strategy that includes at a minimum LinkedIn, Facebook, Twitter, Website, blog, and email pieces. One sector remains incredibly underserved in this area and could benefit hugely, maybe better than other sectors.

Rstaurants remain the great undiscovered social media Mecca

Go into 10 restaurants, ask for the manager, and say, “For $200 a month, I will create a comprehensive social media strategy for this restaurant. You will install an ipad in the lobby, locked into a protective case of course, and your staff will encourage your guests to input their email addresses and contact info, and then on a slow Monday, when the restaurant is empty, we will send out a tweet announcing half priced wine for the next hour, and get the place full.”

If you visit ten restaurants and make a pitch like that, I bet you can sell three.

And, in one day, for no risk at all, you have $600 a month in income for spending time on Facebook. First thing to spend money on? Business cards and a simple website. But, start selling first, before the business cards. Maybe print some for free on your printer using thick paper, but we are NOT spending money until income occurs!

More Great Business Ideas

In the appendix to our book, School for Startups, we list 25 or so free, easy, quick businesses that you can start for almost no risk. Or, go to your favorite search engine and look for “free business ideas.” This is there less “coolness” in a business because you got the idea out of a book or off a website? No, your customers and your bank account don’t care. The money spends the same.

Another great thing about this way of starting a business sets a great precedent. You are building the business on cash flow, using internally generated funds only. This business will never borrow money, will never be in debt, will never induce risk into your life, and will help buy bills instead of keeping you up at night worrying about servicing debt.

Jim Beach School for Startups

Final Thoughts

What ideas have you tried or considered when staring a new business on a shoestring budget?

About Jim Beach
Jim just published his first book, School for Startups. He started his first business at 24 and grew it to $12 million in revenue with no cash infusion. He has taught MBA classes and lectured around the world.


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12 Comments

  1. A great example of acting on your idea. With everything, practice makes perfect. Even if in Jim’s example this business does not work-out you have become a sales person learned if you like that or not, have overcome the idea procrastinator, and lived business management.
    Haralee recently posted…WelcomeMy Profile

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  2. OOOOH…what a great idea! just fabulous!
    thanks for sharing — I am sure that most people over think starting a biz when the answer is right there! Rachel
    Rachel Blaufeld recently posted…Limitless FabulousnessMy Profile

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  3. @Haralee that’s a great point about learning sales skills. Those just starting out in small business often overlook that critical piece, believing if they build it people will come!

    @Rachel – I know, it IS easy to overthink. Jim’s whole book is filled with these great ideas. He’s a proven success story many times over.
    Nicole Fende recently posted…What if Romeo had used a dating service?My Profile

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  4. What a great idea. :) Thanks for sharing this.

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  5. @Rochelle I’m happy to share, but all the credit goes to Jim Beach. His book rocks!

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  6. This is kind of scary. I came up with the same idea independently after reading a story about a local music venue/restaurant that’s on the brink of failure. I did a quick web check – ZERO social media presence. Which made me wonder how many local eateries were truly making the most of the potential of SMM/SNM. So, clearly, I think Jim is a brilliant genius destined for greatness. :)
    Annie Sisk (Pajama Productivity) recently posted…Getting Clear On Your Vision For Your Business+LifeMy Profile

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  7. As a webmaster, I know how difficult it is building a good online business selling products/services.
    This is a good idea and I’ll certainly pass it on to a few stay-at-home moms I know who’re looking to generate extra income. Thanks!
    Victoria recently posted…Last summer day in AmsterdamMy Profile

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  8. @Annie – Cue the Twilight Zone Music.

    @Grady – I appreciate you coming by from Blog Engage. If you don’t have a big TBR pile life just isn’t worth living.

    @Victoria – Thanks for the feedback, and interesting to get insights from you that aren’t travel related :)
    Nicole Fende recently posted…Escape From Land of the Lost (No Time Machine Required)My Profile

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  9. i actually have a similar partnership in the works already with a local cell phone company. i needed a new phone and they’re in desperate need of assistance with their social media presence. it certainly has the potential to be a long-term paying gig after the initial barter. thanks for sharing, Jim!
    Donna L. Johnson recently posted…October is The DevilMy Profile

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  10. @Donna – a few people have mentioned to me that this has been an effective, no risk, no cost biz idea they’ve used or will try. I think you’ll wow them and turn it into much more.
    Nicole Fende recently posted…These aren’t the shakes you’re looking forMy Profile

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  11. The business idea you’ve mentioned above ise very effective for people who really want to earn money by starting up their own business. Thanks a lot for sharing.

    Reply

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