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8 Comments

If you had $10,000 how would you start a profitable business?

Let's say you have $10,000 to spend on building a profitable business. What would you do?

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    I would use it to buy me food + water and nothing else would change.

    I don't need lots of money.

    I need a laptop, a domain, a server, and a brain. That's it.

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      This is the right answer!

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    Here is something totally different. Why not start a micro business in small cities, preferably an online mall. Start with 5 cities and invest $1,000 in each. For example, I am developing this model in my small city of Moab Utah with www.moabmall.com. It is basically a one stop shop for tourist to buy from and support local businesses. It is setup where they could buy products that are made in Moab and listed on Amazon and there is a marketplace where the locals could list their products directly on the site. I also have it setup where i could create products from shirts, bags, hats, etc. and they get made on demand through a print on demand company. It is truly a minimum viable product. It may not become a billion dollar company but it should become profitable and as the model gets better it will be replicated in other cities. You simply need a good domain name, good hosting, and a good multivendor marketplace ecommerce setup (i use wordpress and woocommerce and a key plugin). If you are good at marketing and have good design skills or have a good designer, then you are well on your way to making something profitable. By the way, you could spend less than $500 on all that I just mentioned and the rest could be used in marketing. If anyone plans to try this method with me, please let me know. I would love to see what gets done in other cities.

    1. 1

      What's a good marketplace plugin for WooCommerce? I'm not going to steal your idea, I swear :-)... my brother-in-law is interested in building a marketplace site in a very different niche and I saw a bunch of plugins, but didn't really look to much into it.

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        The plugin is Dokan by wedevs. No need to worry about stealing the idea. They have a basic free version then the best one is the professional business. I looked through a bunch but I like them better

  3. 2

    I'd probably buy courses and books in SEO, Sales, Funnels, FB Ads, Copywriting, UX/UI Design, and Web Development.

    The complete solo Indiehacker.

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      This comment was deleted a year ago.

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    This comment was deleted 8 days ago.

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      This comment was deleted 3 years ago.

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        This comment was deleted 8 days ago.

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          It might be easier to buy a shitty product with great marketing, and then improve the product.

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