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Make money with money
5

NobodysChild · 28/06/2017 15:22

I have been gifted £400 and would like to use this money for a start up.
Trouble is, I don't know what to invest in.
I was thinking buying from charity shops/online and reselling for a profit but I don't want to end up with stuff I can't sell.
How can I make this money work for me?
What would you invest in?

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taheera77 · 24/07/2017 15:49

Hi there, not sure if you ever started a business but thought I'd contribute my 2 cents :-)

I've always found the best way to earn money is to utilize your strengths.

Do you have any hobbies or skills that you could monetize, such as knitting, baking, social media, sewing, etc?

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NobodysChild · 24/07/2017 16:13

Hi taheera77.
Yes I have a few skills that enabled me to make bespoke wood products, which I sold via Etsy and Ebay. The feedback was great, but sadly the sales were very slow and eventually stopped.

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AmIAWeed · 24/07/2017 16:21

perhaps what you need then is better marketing for the bespoke wood products and could invest the £400 there?
Either through a day course on marketing, inquiring about small business support courses at your local college
Facebook ads to promote your items
A market stall to sell your products
Stalls at village fetes, missed the school summer ones but wont be long until schools are thinking of Christmas fetes and presents

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taheera77 · 24/07/2017 16:43

Great suggestions from AmIAWeed.

I'd add you might also benefit from a product profit analysis to ensure you are maximising your profit and selling your products at a suitable price.

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