Your next personal finance and business growth starts from the seed you have at present. That seed of $1000 in your hand can go a long way to spark off the next financial growth you’ve eagerly awaited.
Here are three ways to spend $1000 that could help you meet your financial goals. These smart tips will help you to improve your financial health and show you how to use money to expand business operations.
Publish and Sell a Book
Image via Flickr by AMagill
You probably have some great experience on a particular topic which you believe the world should hear. If that’s the case, you should give self-publishing a chance. Amazon, with its kindle direct publishing platform, will make you a self-published author in minutes, making your book available to a worldwide audience.
If you hate to write, there are freelance writers on credible work sites like Upwork and Fiverr who will help you put your thoughts down in a book form. Typically, freelance writers charge between 10 cents and $1 per word, depending on the amount of work they need to put into your book project.
You will need to spend part of your $1000 for marketing purposes. Credible book promotion websites like BookBurb and Bargain Booksy will provide the necessary book promotion platforms for your book to reach lots of readers and customers.
Start Your Own Blog
You can also go the way of starting a blog. A weblog is a website that is like a diary or journal where bloggers often write about their opinions and thoughts. Your daily, weekly, or bi-weekly thoughts on your blog can attract readers and fans to your blog. These fans could become dedicated customers of your products and services when you decide to monetize your blog.
The average monthly cost of setting up a blog today is $10. You may need to pay an average of $80 to $130 per hour to an SEO expert who will help you to make your blog more search engine friendly to attract free traffic from Google, Bing, and other search engines.
Invest in New Companies
New businesses only grow and reach new territories if they constantly have enough capital at their disposal to fund business projects. In order to achieve this lofty business growth objective, businesses come to the market to raise capital.
In the year 2012, the U.S. government approved crowdfunding as a way for businesses to raise capital. In 2015, a worldwide estimated total of over $34 billion was raised by crowdfunding. This approval makes it easy for you to invest in new companies. You can invest your money in a wide range of for-profit entrepreneurial ventures or community-oriented social entrepreneurship projects.
If you’re planning to use money to expand business operation or to invest $1000 to improve your financial health, you should consider the tips given above. Self-publish a book. Start a blog of your own to attract fans to your story and brand. Invest in new companies to earn a dividend from their annual profits. These options can help you improve your financial health and meet your financial goals.