From Idea to Income: Launching a Startup That Pays Off Quickly

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Some businesses take years to turn a profit. Read on to discover a few that can earn you cash much faster. [[{“value”:”

I’m currently trying my hand at a new e-commerce idea that I’ve had brewing for a while. I’ve committed to working on it for at least six months, and if I generate a few sales over that time frame, I’d consider it a win.

Committing time and energy to a project can be scary because you don’t know if it will be worth the effort. If you need help with a few ideas that might be worth launching and could pay you right away, here are three possibilities.

1. Launch a consulting business

As someone who’s worked for years managing content for companies, I like to think I’ve learned a few valuable things. My experience has allowed me to do some consulting work, helping clients with their content strategy.

I haven’t launched a business dedicated to this, but plenty of people use their years of experience to provide insights to others.

To get your consulting business off the ground, talk with potential clients you already know who might need help in your area of expertise. Show them how you can add value to their business and pitch them on a few projects you can help them with.

How it can pay off quickly: Consulting generally has low overhead, and if you do it on the side, you likely won’t have to pay other employees. All of this means that picking up just one or two clients could be immediately profitable. The average hourly consulting fee is $100 per hour, though you may need to charge less initially.

2. Use your personal style to sell pre-owned items

Launching an online consignment business could be a great idea for you if you’re the type of person who’s always finding hidden treasures that everyone else overlooks. This business could be anything from finding vintage clothes and reselling them to refinishing old furniture and selling it online.

I know someone who has found discarded furniture and clothes in a very nice part of their town and has resold them online as a side hustle. You’ll have to invest some time finding new items and likely some money to get a list of products ready for sale through Etsy or Shopify.

Selling pre-owned items could be a great business if you’re especially good at social media. Getting the word out about your new items and generating ongoing interest will go a long way to generating sales.

How it can pay off quickly: You can start making money almost immediately if you already own items you can sell online. The amount you make will depend on what you sell and if it costs any more to repair it or clean it. For example, if you source clothes and sell them on ThredUp, you could earn between $15 to $60 for items priced between $50 to $100.

3. Tap into your love of pets to start a pet care business

I was talking with a neighbor the other day about her need for someone to walk her dog when she’s out of town. While there are already services, like Rover, that make it easy for people to hire someone to do this, my neighbor only wanted people she knew to take care of her dog.

Some pet lovers could have an advantage in starting their own pet care business — if they’re willing to find local clients with whom they can build trust.

How it can pay off quickly: Launching a dog-walking or pet-sitting business requires little effort besides getting the word out. Talking to friends and family, posting your availability on social media, and even putting up a flyer in your apartment building can all be good ways to get started.

The average dog walker can earn just under $15 per hour, which won’t make you rich, but could become a good side business if you build up repeat clients.

While these business ideas could pay off relatively quickly, it’s worth mentioning they won’t make you rich overnight. Like anything worthwhile, it’ll likely take some commitment to see a payoff. And like so many other things in life, taking the first step may be the hardest part — but you’ll never know your idea’s potential unless you try your hand at it.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Etsy. The Motley Fool has a disclosure policy.

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