If we take the idea of compounding and apply it to our business start-up, we can make our way to bigger and better business ideas. The concept is to start small with one or two business ideas that require little or no investment. Then, just as you would increase the size of investments in the stock market, you will invest in a larger business plan or idea. So, this is one of the tips entrepreneurs use to get rich quick from a small to a big company. It’s a simple business idea that you can start right away:
Business clipping service
With this business, your goal is to keep other businesses up to date on your competitors’ advertising. It saves them time and gives them the information they need to stay competitive. This is obvious. You charge a company $50 per month to send you a weekly collection of ads you discover from a particular list of advertising sources: newspapers, the Internet, brochures, magazines, etc. You’ll need a solid sized customer base to make a dent in your bank account, but with a good sales pitch or sales letter and because of its low cost, you can add 100 businesses to your list in no time. This will bring in around $5,000 per month and you are not limited to the number of clients you can add to your list.
Your investments will include a fax or scanner so you can send the ads to your customers. You can even use a photo or video setting to save time and money while improving service quality. You can add an additional service by reviewing other companies’ advertising going back over the years. This will tell you which ads have worked and which have not. If, for example, you pick up a stack of magazines (at a garage sale, on e-bay, etc.) going back 5 years, you can see which ads started and stayed for those 5 years. An ad that works is likely to be repeated.
When you have accumulated enough money from this business, you can invest in a bigger business or add another business to your list. You can also invest in another advertising business and slowly begin to build a business that handles a client’s various advertising needs by having a mix of services that you’ve mastered along the way.