7 Businesses You Can Start Right Now, for Under $1000 by Elisabeth Miazello - HTML preview

Introducing the SELL Matrix

To help you identify the right business opportunities, we've developed the SELL matrix. This handy tool will guide you in choosing businesses that are:

• **S**ellable: You can start selling products or services from day one.

• **E**arning Potential: The business has the potential to make at least $100K a year.

• **L**ow Cost: You can start the business with less than $1,000.

• **L**everage: You can outsource much of the work, so you're not tied down to doing everything yourself.

We'll be using the SELL matrix throughout this book to evaluate different business ideas. This way, you'll know

exactly what to look for and how to determine if a business is right for you.

The Power of Doing the Work

One more thing before we dive into specific business ideas: You have to do the work. There's no shortcut to success. Building a business takes effort, dedication, and a willingness to tackle challenges head-on.

Remember, "life hack: always the stairs, never the elevator." The hard work you put in now will pay off later. By committing to doing the necessary work, you'll set yourself apart from those who just talk about starting a business but never act.

Chapter 2:

The Business Matrix - SELL

Alright, now that we’ve got the basics down, let’s jump into the Business Matrix that will guide us through identifying and evaluating the best business opportunities. We call this the SELL matrix. Why SELL? Because we want businesses that can sell products or services effectively and meet our criteria for success.

What is the SELL Matrix?

The SELL matrix stands for:

• **S**ellable: Can you start selling a product or service from day one?

• **E**arning Potential: Can the business make at least $100K a year?

• **L**ow Cost: Can you start the business with less than $1,000?

• **L**everage: Can you outsource much of the work?

This matrix will be our roadmap, helping us evaluate business ideas to ensure they meet our goals of high

ROI, low upfront cost, and quick returns. Let’s break it down further.

Sellable: Get Selling from Day One

The first criterion is sellable. We want businesses that allow you to start selling right away. No long development times, no endless preparation—just straight to market.

Think about a lemonade stand: simple, straightforward, and ready to start making money immediately. We’re looking for business ideas that you can kick off quickly, providing a service or product that people need and are willing to pay for right now.

Earning Potential: Aim High

Next up is earning potential. We’re not just looking for side hustles here; we want businesses that can bring in serious cash. The goal is to make at least $100K a year.

Why? Because this level of income can truly change your life, giving you financial freedom and the ability to reinvest in your business for even more growth.

Imagine the possibilities: paying off debt, saving for the future, or even taking that dream vacation. A high-earning business makes all these things possible.

Low Cost: Start Small, Grow Big

We’re all about low-cost startups. You shouldn’t need to empty your savings or take out massive loans to get started. Each business idea we explore will require an initial investment of less than $1,000.

Low-cost doesn’t mean low quality or low potential. It means smart investing—using your resources wisely to create a solid foundation for your business. We’ll show you how to start small and scale up, maximizing every dollar you spend.

Leverage: Work Smarter, Not Harder

Finally, we come to leverage. One of the keys to a successful business is being able to outsource tasks. You don’t want to be doing everything yourself—that’s a fast track to burnout. Instead, we look for businesses where you can delegate work to others, allowing you to focus on growing the business.

Think about it: the more you can outsource, the more time you have to strategize, innovate, and scale.

Leverage is all about working smarter, not harder.