Yahoo Finance Have an Extra $500? 10 Businesses You Can Start With It, According to Jaspreet Singh
Jaspreet Singh, CEO of Briefs Media and host of “The Minority Mindset Show,” recently said in a YouTube video that if you have $500 in your bank account, there are at least 10 different businesses you can start that can make you tens or hundreds of thousands of dollars per year.
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“And no, I’m not talking about YouTube automation or drop shipping or whatever else the gurus are selling nowadays,” said Singh in the June 22 video. These are legitimate businesses you can start on a shoestring budget.
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AI consultant
Hourly wage: $55, according to GlassDoor
As Singh explained, this entails auditing businesses and helping them integrate artificial intelligence.
“That way they can save at least five hours of time a week. And I know this works because I have paid thousands of dollars for this exact thing,” said Singh.
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Cleaning Service for Landlords
Hourly wage: $75-$100, according to HomeAdvisor
Singh’s rationale is that as the current housing market is making many people rent, it “creates an opportunity for you because if more and more people are renting, that means that management companies are going to need assistance to help turn over properties.”
‘Doctor Driver’
Hourly wage: $125-$130, according to Singh
“Professional people like doctors and attorneys — people who are making a lot of money per hour — if they have to drive 30 minutes to work and back, that’s an hour of time,” said Singh. “And if these people charge $250 an hour for their time — sometimes more — you could now be that driver for a fraction of the price.” The key to marketing this business is to show potential clients the value of the time they save by sitting in the back seat, answering emails or doing other business tasks while you drive for roughly half the amount they’ll earn during the commute.
Content Creation ‘With a Purpose’
Hourly wage: $39, according to Salary.com
With social media presence becoming increasingly necessary for businesses, becoming an influencer for your own business, with the purpose of building your own brand, could be key to success, said Singh. For example, if you have a cleaning business, you can make engaging videos showing how you clean. You might make a little ad revenue, Singh said, “but the primary purpose now is you can drive leads back into your business.”
Optimized Video Editor for Short Form Content
Hourly wage: $35, according to Salary.com
Singh argued that while “everybody knows how to edit videos nowadays,” if you differentiate yourself by analyzing key performance indicators to provide a metric for clients’ success, you’ll create a niche for yourself that could pay off.
Video Recording for Realtors
Hourly wage: About $32, according to ZipRecruiter
Singh said that an increasing number of Realtors are becoming specialized in the luxury sector. As a result, they are also increasingly investing funds in video production, such as for home tours.
Digital Personal Trainer
Hourly wage: $29, according to ZipRecruiter
Singh said that one of his trainers started his own digital business, and a year in, “he’s making more money now than he was ever doing before.”
Wedding Planner
Hourly wage: Up to $23, according to Salary.com
The wedding industry is a tough one, but if you’re hyper organized, detail oriented and “a little bossy,” you have the potential to make a lot of money coordinating weddings for engaged couples.
Growth Marketer
Hourly wage: $18, according to ZipRecruiter
There are a few options to go about it, according to Singh. For instance, you can focus on YouTube advertising, Google advertising or Facebook ads.
‘New Age’ PR
Hourly wage: $65, according to ZipRecruiter. (for a freelance PR person)
By “new age” PR, Singh means that there are a lot of new avenues to provide publicity to clients — for instance, through podcasting,
“As somebody who’s been on many podcasts, what I can tell you is podcasting is a great way, a new way to get a lot of PR, to get a lot of exposure because you get more time,” said Singh.
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This article originally appeared on GOBankingRates.com: Have an Extra $500? 10 Businesses You Can Start With It, According to Jaspreet Singh
