101 Small Business Ideas for Under $5,000
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101 Small
Business Ideas
for Under
$5,000
by Corey Sandler
Janice Keefe
Once you’ve let your mind run rampant with dreams of profits, fun, and more
profits, take a moment and ask yourself this question: What could possibly
go wrong?
Let us suggest a few moments of doom and gloom:
• One of your clients, or perhaps a delivery person, trips and falls over the
crack in the driveway you’ve been meaning to fix for the past three years.
• You somehow manage to lose the only copy of a precious family photo-
graph that was entrusted to you to restore.
• You fail to advise a client of a critical deadline in filing a college applica-
tion, causing her to be rejected for admission.
• A slip of a chisel cracks and destroys a priceless antique chair you’ve been
asked to refinish.
• When you clean a chimney you overlook a wobbly interior brick that falls
into the flue weeks later, resulting in a smoky blaze that destroys the house.
• A product that you sell, even if you did not make it yourself or perform any
alterations on it, fails and causes damage to a person or property.
There’s a lot more to say than “oops” when you run a business. An accident,
error, omission, or a negligent act by you or anyone in your employ could ruin
your business and even result in a claim against your personal assets. The sever-
ity of the threat could depend on:
• The way your business is set up
• The amount (or lack) of insurance you have
• The care with which the contract with the customer is drawn
That’s why we recommend you consult at least two commercial insurance agents
for a risk assessment. Listen to the advice you are offered; ask lots of questions.
Don’t be shy about requesting time: If agents don’t offer you good service before
they’ve cashed your check, what makes you think they’ll be any better once
you’re a client?
We suggest you meet with more than one agent, at competitive companies.
You may find one easier to understand or work with than another, or you might
find a better deal.
Don’t hide the fact that you are shopping around. The smartest entrepreneurs
are those who buy goods and services instead of being sold goods and services.
And the best businesspeople are those who realize that they have to offer real
value to their customers in the form of price, service, or both.
Do the same when you seek a civil attorney who can help you protect your-
self with limits of liability in your contracts and the form of your business. Ask
for an introductory meeting with at least two lawyers. (In most instances, a short
preliminary session is offered without charge.) Ask for advice and for an estimate
of costs for specific services.
Business Ideas
for Under
$5,000
by Corey Sandler
Janice Keefe
Once you’ve let your mind run rampant with dreams of profits, fun, and more
profits, take a moment and ask yourself this question: What could possibly
go wrong?
Let us suggest a few moments of doom and gloom:
• One of your clients, or perhaps a delivery person, trips and falls over the
crack in the driveway you’ve been meaning to fix for the past three years.
• You somehow manage to lose the only copy of a precious family photo-
graph that was entrusted to you to restore.
• You fail to advise a client of a critical deadline in filing a college applica-
tion, causing her to be rejected for admission.
• A slip of a chisel cracks and destroys a priceless antique chair you’ve been
asked to refinish.
• When you clean a chimney you overlook a wobbly interior brick that falls
into the flue weeks later, resulting in a smoky blaze that destroys the house.
• A product that you sell, even if you did not make it yourself or perform any
alterations on it, fails and causes damage to a person or property.
There’s a lot more to say than “oops” when you run a business. An accident,
error, omission, or a negligent act by you or anyone in your employ could ruin
your business and even result in a claim against your personal assets. The sever-
ity of the threat could depend on:
• The way your business is set up
• The amount (or lack) of insurance you have
• The care with which the contract with the customer is drawn
That’s why we recommend you consult at least two commercial insurance agents
for a risk assessment. Listen to the advice you are offered; ask lots of questions.
Don’t be shy about requesting time: If agents don’t offer you good service before
they’ve cashed your check, what makes you think they’ll be any better once
you’re a client?
We suggest you meet with more than one agent, at competitive companies.
You may find one easier to understand or work with than another, or you might
find a better deal.
Don’t hide the fact that you are shopping around. The smartest entrepreneurs
are those who buy goods and services instead of being sold goods and services.
And the best businesspeople are those who realize that they have to offer real
value to their customers in the form of price, service, or both.
Do the same when you seek a civil attorney who can help you protect your-
self with limits of liability in your contracts and the form of your business. Ask
for an introductory meeting with at least two lawyers. (In most instances, a short
preliminary session is offered without charge.) Ask for advice and for an estimate
of costs for specific services.
