How to Start an Online Business with No Capital
Choose a type of business to start online and decide what you are going to sell. Every business must offer something for sale, either a product or a service. If you are unable to acquire or create a product line yourself, consider affiliate marketing. You can earn commissions for selling almost any type of product provided by another company. Online, you can also monetize quality content and earn money from advertising, essentially selling advertising space. No capital is required for any of these business models.
Develop the product or service you wish to sell. If you have marketable online skill, such as writing or web design, be sure you are proficient enough in it to offer it for sale. Find a supplier for the product you wish to sell. This could be a wholesale source or an affiliate program that pays a commission on sales made through your special link. Wholesale sourcing requires some financial outlay to get the goods to sell. Check out dropshipping companies that will handle logistics for you.
Make a business plan that outlines how you will sell or market the product or service. Determine if you want a website or a blog, or focus on online auctions or classified ad websites. Figure out who your target market is, that is, who the people are who would want to buy your product or service.
Sign up for an account with a free website provider or blogging platform such as Blogger or WordPress. Choose a subdomain name, the address for the site or blog, that includes the name or short description of what your business offers. Choose an attractive, professional template and add your business information.
Include content on your website or blog that pertains to your business and the products or services that you offer as well as contact information so people can order from you or hire you. Include affiliate links, paying advertising blocks such as Google Adsense, if desired, and graphics of your products. Use PayPal or another free payment processor to collect payments.
Market the website, blog, products or services directly through free online classified ad sites, writing keyword-specific articles and submitting them to directories with your website link included, forum and message board posting, and blog commenting. Do not spam your link, but only include it in places where people may be interested in your product or service and advertising is allowed.
Published by Melanie L. Marten
Melanie Marten is self-taught and self-employed. Besides freelance writing, she dabbles in website design and owns dozens of websites and blogs. Work is squeezed in between parenting two boys, homeschoolin... View profile
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16 Comments
Post a CommentWas a delight to read this article, thanks!
Great information. Thanks!
Thank you for such useful tips for everyone.
Hmm. I earn quite a lot more than I ever earned at a 'real job' now. Money + time = more money. No money + lots of time = more money. It works both ways.
I think you can post on a Wordpress blog if you've paid to have it hosted on your own host? Not the same as eblogger - which is free and can only be hosted by their own host?
Great article and tips, Melanie!
Great article and tips, Melanie!
I've researched ways of doing these types of things and yes it all comes down to exposure, lots of it and consistently and as another pointed out, you must be aware of the TOS with various providers. Personally, I feel if I own my own domain, I should be able to do what I want with it within the bounds of the law...but that's just my two cents.
Good tips. I've tried affiliate marketing and other methods mentioned, but have not had much success with it. Unfortunately alot of online success relies on your ability to advertise everywhere a.k.a. "spam" everyone. I find that really annoying on both the receiving and the giving end.
Interesting and comprehensive article. Thanks for sharing the information.