So, you want to start a business with a low investment? This principle in itself is difficult but not impossible but it does depend on some basic factors such as;
- Your financial situation.
- Your existing workload and personal commitments.
- Your experience in whichever niche you want to start a business in.
The good thing about starting your own business is with the advent of smarter online platforms and products, it is a lot easier than it used to be. The average Joe is now able to create a sustainable and long term online income with little to no investment.
For the purposes of this article, I will assume that you ARE and average Joe, with an average job and that you have less than $1,000 to kickstart your online career. If you DO have money then I suggest you try out this article which is more suited for people with a larger amount of money to invest.
Are you an average Joe? Keep reading!
Let’s take a look at what options you have if you want to create your own business with little investment.
Why You Need To Start An Online Business & NOT A Physical Business
First of all, let’s get some basic information out of the way. If you want to start a business, but have no money, then you need to create it online. This is by far the most cost-effective way to create a business that will last.
Building a business with a physical store, product and members of staff is a huge undertaking and therefore will not be on the cards for anyone who do not have a substantial bank. Even with a large bankroll, this kind of venture is extremely risky, even if you have a good product.
Why do I say this?
Assuming you only have $1,000 to invest then there really is no other place you can start than online because anything else would cost too much. The benefits of creating a business online is there will be very little time pressure and you are able to reach a much larger audience.
Not only that but you can tailor it around your existing personal life and work.
Tailoring your new business around your existing job will be key in any event because if you have no capital to put forward then you need to keep your normal job to keep paying your personal outgoings. This is why creating a blog can be so fantastic because you have no boss and you have the freedom to do this which makes it a lot less stressful.
Types Of Businesses You Can Start Online
Mirco Niche Product Review Website
This principle is where you create a small website devoted to a small niche and write extensively about the products related to it. Let’s say for example you create a niche website about “Running Shoes” – you would then write product reviews about running shoes and related accessories. When people search for information on Google about a certain type of running shoe they will find your website and you earn a commission if someone buys a product through your links.
This is, of course, a VERY brief summary of the process but that’s the principal behind it. To learn more watch this video.
A Personal Blog
Do you possess extensive knowledge and information about a certain niche or product? Why no create a personal blog to share this with others to teach them what you know. This could be on any topic, any topic! If you have a hobby or are passionate about something, then you can turn this passion into an online business by simply writing down your experiences and thoughts.
Once more, this is a very simplistic summary of the process but it is quite a simple process and anyone can do it.
An Online Store
Do you make something or have a product that you believe would sell well? Guess what? You can start an online store and start selling your own produce. With a similar approach as with a personal blog or a micro niche site, you can get free traffic through the search engines to your website.
This is the method I use to make money on my blog here at IpoopCash.
Types Of Businesses To Avoid Starting Online
Ebay & Amazon Selling
As an ex-Ebay seller, I can tell you that there is good money to be made on sites like Ebay and Amazon as a trader. However, for a number of years now the market for almost all products is completely saturated by big chain stores and imports from China.
You can definitely still make money with both of them, thousands do, but the profit margins now are very small on most items and you do need a lot of stock in order to make it a viable business. Drop shipping will be an option but it will be hard to find products that are not already saturated.
If you have $1,000 and want to start a business, I would advise against trying to break into places like Ebay.
“Make Money Online Websites”
There will be a temptation to make an affiliate marketing website, like Ipoopcash, but I would advise against it. This particular market it very saturated and even though this niche is still very much open to more websites, it will take a LOT longer to make money within this niche.
MLM Products – Multi Level Marketing
I recommend you do not try any product sales on behalf of other merchants. Due to the fact you have no website and no organic traffic, so your only option is paid traffic through PPC and social media advertising. If you have no experience with affiliate marketing then I strongly urge you to stay away from any third party product promotions because you will lose a lot of money, very fast.
If you are unsure about MLM then there is a very simple video here you can check out. Sometimes it can be hard to differentiate between an MLM and a pyramid scheme – pyramid schemes are illegal, MLMs are not)
How To Start A Business With No Money?
The simplest, safest and best long term method to create a business with little or no investment is, like I mentioned earlier, a blog. You can create a blog at Wealthy Affiliate for free.
The cost involved with creating a blog are minimal – around $50/100 per month depending on what hosting you use and what other premium services you require. Imagine the cost is $80 per month, which is on the high end. If you have $1,000, this would give you 12 months to build, develop and start monetizing your blog – which is VERY DOABLE!
The average person takes about 10 months before they start generating a respectable amount of money from their websites, and anyone can do it. Regardless of age, gender or race.
Nothing is easy and generating money from a blog is hard work, but it gets easier and if you compare it to starting any other form of business, it is by far the easiest and safest way. Not to mention the most lucrative in the long run because once you crack your first sale, the others ones come faster.