10 ideas for making money online with a budget under Rs 5,000
I can give you hundreds of ideas right away if you want to start a side business to generate a passive online income. However, you have to work hard to implement the money-generating business.
You can start while working at your full-time job. When you start making some money from your online work, you can quit your job.
When I started my online business two years ago, I was afraid of sharing my ideas with people. However, I realised that I was wrong because I can only work on two or three ideas at a time. So I decided to share all my research and ideas with you.
The only condition to being successful is that you have to dedicate between six months and a year to learning new skills. One year is a short period if a person can work hard, and even earning Rs 10,000 without leaving the full-time job is an achievement.
I spent 15 years in school to get admission in a decent college. I spent another three years in college in the hope of getting a job at the end. Although there was no guarantee of a job, I dreamt of working at a big corporate. After completing my graduation, I found a job as a software engineer that was paying me Rs 18,000 but at the cost of spending all my hours in the office.
I think spending lakhs on education is a bad idea. In the end, you will sell all of your time for money that will not last even until the end of the month. I spent one dedicated year learning writing and online marketing skills. Now I am earning more than Rs 1,00,000 from my blog, plus some additional income from providing consultancy services to startups in organic marketing.
How to select an industry for profitable business
You must select a topic and industry you are passionate about. I am passionate about credit cards, saving money using financial hacks, and growing businesses without spending money on advertisements. I started an online community to help people select the best credit card for cashbacks on shopping/fuel/travel, to enjoy long luxury travel under budget, and help people identify a passive source of income.
#1. Traffic from Google (+ some traffic from Bing, Yahoo, DuckDuckGo)
#2. Traffic from Facebook (+ some traffic from Twitter, Google+, LinkedIn)
Google and Facebook dominate most of the traffic (in India). Don’t worry about the other traffic sources if your focus is the Indian audience.
Industries dominating Facebook
- Bollywood and entertainment (fun and gossip)
- Startups and marketing
- Media (news and trends)
Industries dominating Google
Industries dominating both Facebook and Google
- Fashion and beauty
- Childcare and parenting
You can create your own ideas by taking hints from what I share. I create better ideas when I work on my passion (finance, travel, and marketing).
Focusing on your passion is more important than chasing money.
Bollywood and entertainment (celebrities, fun, and gossip)
If you are the entertaining guy in your friend circle, don’t waste your talent — get into the fun and gossip industry.
Don’t be afraid. Once you start, you will automatically learn the next steps.
Idea #1 Comedy club
Comedy videos easily go viral. There are a couple of stand-up comedians like Kapil Sharma and Amit Tandon who have become celebrities now. The young talent is waiting for their turn. There are thousands of comedians who are looking out for a channel to show their talent. You can help them by building a comedy club online.
Idea #2 Funny video library
Funny videos of kids, puppies, and cats are all over YouTube and Facebook. Can you make a library where people like me can pick the right video for their content marketing needs?
You can make money by selling the licence to startups for using the video. The creator of the original video can earn money as commission.
Idea #3 Online dance classes
You don’t need an innovative idea to become successful. All you need is a viable idea that can solve someone’s problem.
If you are a dancer and would like to teach people, start online dance classes. You don’t have to be an expert — just be better than your students, who want to learn the basics of dance.
Can you make nine short videos that can teach me some simple dance steps for the upcoming family function? Sometimes, it’s just about providing a reliable, systematic source for something basic.
Idea #4 Online reality show
When reality shows are so popular on TV, why can’t they have online versions? The internet is democratising all industries, which means that individuals and organisations no longer have total control. Anyone like you and me can become the owner of an online TV show and compete with branded channels like Star TV.
Star TV and Amazon are already going head to head for online TV viewers’ market share through their apps. There is a lot of scope if you can build an audience for reality shows online.
Idea #5 Music lovers’ group
If you don’t have the capacity to make a product, you can at least make a group of music lovers online.
Caution: Don’t try to make a generic group of music. It must be a micro niche that you are passionate about. Like a group of Honey Singh music lovers, or classical Indian music, or Kishore Kumar lovers.
Facebook must be where you begin if you are going to make an Indian-audience-centric business. You must also have a website and discussion forum. At a later stage, move to a mobile app.
Idea #6 Music school
This is a no-brainer! If you have the passion for teaching music, start an online school for it. You can start with a free YouTube video channel where you upload a couple of videos to help people learn music.
YouTube is what I turn to whenever I have to learn the basics of anything, and if I like the person, I try to find his/her online presence to learn more. You can make a good business out of a music school if you deliver high-quality lessons to your audience.
Idea #7 Party organiser
There are many ways to look at this idea. You may become an organiser for children’s parties (all of the parents are your audience, more than 50 crore people), or you may choose to organise parties for the youth.
Important note: Don’t try to be everything for everyone at the same time. Most of the people don’t get it. Any experienced entrepreneur will advise you to focus on one group in the initial days rather than building something for the whole industry.
Idea #8 Low-cost viral video maker
I will be your first customer if you can help me create viral videos at a low cost. You must start making videos yourself in the initial days and later on hire good video makers.
Video demand is increasing every day, and all startups will have to create a lot of videos in the next few years. Videos are the easiest way to go viral in a short span of time, and yet most people don’t have any knowledge of it.
Can you come up with a fixed-price video startup?
Rs 500 for a 60-second video if the client gives the concept (storyboarding), images, and text. You just have to execute. Rs 2,000 for a 60-second video if you do everything yourself. Deliver the video in 24 hours with the promise of two revisions in the next 24 hours.
If you are able to execute the idea well, you can go viral with thousands of projects in your hand. Don’t compromise on the quality and keep increasing the prices. People pay a higher price for good-quality work.
Lack of confidence? That’s the reason why most people fail. They accept failure even before starting. Success comes to those who don’t accept failure even after the actual failure.
Do you know that we lost Rs 15,00,000 in my first startup? I decided to work even harder to get the success.
There could be many business models in the entertainment industry. Depending upon your aspirations and risk-taking capacity, you can make good money from advertisements (pay-per-click and pay-per-view), selling services and affiliate products.
In the long run, your business model would be a partnership with big brands, celebrities, production houses, and TV channels.
A single guy can make about Rs 50,000–1,00,000 with a dedicated effort of one year. A team of three to four people can make more than Rs 5,00,000 in less than one year if they execute the projects with perfection.
You can have a multi-crore annual revenue if you become an influencer in the entertainment industry (like TVF).
I have not picked sports as the category because Indians love cricket, not sports. Cricket remains in the air throughout the year.
When you are starting something for a business purpose, you must start in a business where you can get customers throughout the year.
Idea #9 A cricketer’s fan club
Cricket works a lot like the entertainment industry. You pick your favourite player and make a fan club for him. Read the details of businesses to get more inspiration.
Idea #10 Regional sports club
India is a country of diverse cultures, and this a reality the IPL, with its regional teams, has cashed in on. You can take the idea forward and make an online sports club for your own region’s cricket. Yes, there is a business model if you can execute.