If you are really motivated to put in the work and do something with your time to grow a business then what are some opportunities that allow you to turn $500 into $1000?
Probably not in one shot but I’m curious hear your answers. Does it exist? I’m not looking to get rich overnight but has anyone had success putting in the work to make it happen?
How did you do it and what changes did you have to implement in your business to keep things going? Are you constantly growing over time? What’s holding you back from the next stage? What are you reading currently? Do you have a coach or mentor in your circle?
One attribute of small business is the ability to cover its monthly operating expenses.
Consequently, one of the fundamentals of starting up is having sufficient capital to cover operating expenses until the business is cash flow positive.
I can’t think of a legitimate business that could be started for $500 and meet this criteria.
For example, it is possible to start mobile carwash business for as little as $500 and work out of the trunk of your car. However, most end up spinning their wheels and go bust.
Experience shows it takes at least $10,000 to start up mobile carwash that has chance of being sustainable.