What Business Can You Start With RM1500 Or Less In Malaysia?
In this article, I will share with you what type of business you can start with RM1500 or less in Malaysia.
I will share my story starting the business with a small initial investment of less than RM1500 in March 2018.
After 2 years, I actually bought a new house with the income from my home based business.
What profitable business can you start with RM1500 or less in Malaysia?
The business is dropshipping but uses the network marketing business model.
To be honest, when I was first introduced to network marketing, I wasn’t very keen.
But I decided to give it a try anyway.
The reason I started a network marketing business is to build an income source for myself so that I can help to pay for our family expenses.
Previously, I was a Human Resource (HR) manager for an office supplies manufacturing company in Kuala Lumpur, Malaysia.
I resigned from my job back in 2010 when I got married.
After that, I had my first child and 2 years later, my second child.
I was a full time housewife for 6 years before I decided to get back into employment.
Back then, my husband was the only breadwinner and our family’s cashflow was very tight.
With only one source of income, we don’t have much left money wise at the end of every month.
I did try to find a job but after sending more than 90 resumes and going for 6 job interviews, no company wanted to hire me even thought I am highly qualified and experienced.
The reason the companies don’t want to hire me was due to my 6 years gap of not working when I was a full time housewife.
It was a disappointing and depressing experience for me.
Nonetheless, I had to find a solution to expand the income for our family.
That was when I started to look for business opportunities where I can operate from our rented house.
My introduction to network marketing
I actually started a small home based business in early 2017 selling prepacked baby porridge.
Back then, I bought the prepacked baby porridge in bulk from Taiwan and started promoting them on social media such as Facebook and Carousell.
I also started a blog in order for me to market and promote the prepacked baby porridge.
However, after a few months of selling the prepacked baby porridge, I had a realisation on my home based business endeavour.
I realised the monthly income from my home business is very small and it is unlikely that I can grow it into a big business.
Reason being, the target market for the prepacked baby porridge is very small.
Back then, only mothers with 2 – 3 years old toddler who are going for a holiday are buying from me.
Can you see how small the target market was?
That was why on a good month such as during school holidays, my home based business selling prepacked baby porridge could only generate RM400 – RM500 in net profit.
I remember thinking, I can’t go on like this.
The net profit from my home business is too low.
I need to find another product to sell from my business in order to make it worth while.
Ideally, the product has to be of higher value so that I can earn higher profit.
The product also has to able to cater for a bigger market.
People of all ages, men and women of every ethnicity in Malaysia should be able to use the product.
With the above 2 criteria in mind, I started to look for a new product for my home based business.
As fate has it, I found the product from reading in the comment section of a Facebook post.
The ideal product that I found on Facebook is a far infrared ray (FIR) emitting health and wellness pants which is fully made and imported from Japan.
Later I found out the sole importer of the FIR emitting pants was one of the top MLM company in the country and is located in Kuala Lumpur, Malaysia.
My initial investment
How much was my initial investment to start my new home based business?
I actually started my new business with an investment of less than RM1500.
The RM1500 was used to purchase 2 pairs of the FIR emitting pants for myself and my mother.
The reason I purchased the pants because I was looking for a solution to help to relieve my back pain and leg cramps.
I also wanted my mom to try the pants because she has issues with knee pain.
I wanted to experience wearing the pants personally.
After wearing the FIR pants for a few days, my back ache and leg cramps surprisingly went away.
I am now convinced that the pants works and started to promote it as the core product for my new home business.
How did I generate leads for my new home based business?
Remember the blog that I created for my prepacked baby porridge business?
I actually repurposed it for my new home business and it became my main medium to generate leads for my network marketing business.
In the first month, the commission that I got from promoting and selling the FIR pants was more than RM1500. More than my initial investment!
It is definitely a much better option than selling prepacked baby porridge.
I kept on building the business and started to sponsor more members into my business.
Third month into the business, my monthly commission has exceeded RM5000!
Honestly, I was really surprised by the results.
I was wondering why the FIR pants was selling so well.
After some research and deep thinking, I realised the far infrared ray (FIR) pants is a Blue Ocean product.
The concept of a blue ocean product is from the book Blue Ocean Strategy written by W. Chan Kim and Renee Mauborgne.
A blue ocean product is in contrast to a red ocean product where the competition is very stiff and profit margin very low.
In a red ocean, everyone is fighting each other just to get their hands on a small profit.
The book Blue Ocean Strategy talks about creating a product or service in a totally new category where the competitor does not exist.
This makes competition in the market irrelevant therefore it has the potential to make sales easily and generate a higher profit.
By chance, I stumbled upon a blue ocean product in Malaysia which is the far infrared ray emitting pants.
Thank you for reading this article. I hope it has been helpful for you.