Starting An Online Business?

The internet has given everyone a chance, especially when it comes to business. Anyone can start making money, even from their homes, as long as you have access to a computer. You don’t even need to have a special skill or have a deep knowledge of anything. All you need to do is be really willing to work and be consistent. One of the highest YouTube earners last year, is a 7-year-old boy, Ryan. He makes a review on toys. He was able to generate 22 million dollars off making toy review videos. This doesn’t require any form of advanced knowledge or skill. It’s just doing what you love. You can also generate some revenue doing what you love. Some people make create blogs and talk about what they love, and people that share the same interest read the blogs. The traffic builds gradually. With the internet, you can work when you want, live anywhere you want, set your own schedule, and work as much or as little as you want. Everything depends on you. The internet is a democratic medium for entrepreneurship.

How To Start An Online Business?

You don’t need a huge capital to start an online business. In fact, you can get an internet business running without any money at all. All you need is your computer and reliable internet. There are a lot of businesses you can start doing online.

How To Make Money Online Without Any Cost?

Below are some of the businesses you can start with little or no money at all. However, you must know that for these businesses to work, you must put in a lot of hours, dedication and consistency.

  1. Drop shipping: The idea behind drop shipping is that you don’t have to have and maintain a large inventory of products or have to worry about packaging and sending the products to your customers. This removes the financial cost and risk of having a large store of products, and eventually failing to sell them on time. You don’t have to deal with storing, and packaging goods anymore, in fact, you don’t even have to manufacture any products anymore. The better alternative is to work with a drop shipping company. It works by first listing your products on sale on a sales platform such as OLX, eBay and so on. You purchase the product from a third party customer at a reduced price, when you have a customer that orders for it. Your drop shipper then sends the package to your client.

However, there are some downsides to this business. You must endeavour to find a reliable drop shipper that you can count on, and that would deliver your goods on time. In situations where the goods are delivered late, or delivered in a bad shape, you get the blame. This would affect your reputation, and customers would also give you a bad review. One of the ways to edge out competition is by rebranding the product. You can do this by putting your private label on the products, before sending them out. This reduces the competition you face significantly.

  • Affiliate marketing: This is similar to drop shipping, but different in a lot of ways. With affiliate marketing, you don’t have to own any product or have any inventory. All you need to have is have a website, or a page on a social media platform, and have a lot of traffic. Having a lot of traffic on your page means that a lot of people visit your page. You can become an affiliate to a company, which sells products that are similar to what you do with your page. As an illustration, if you run a fashion blog with a lot of traffic, you can become affiliates to a lot of fashion brands. You’d advertise, and put up links of their products on your website, while in return they pay you, and even sends you free products to do as you want. In addition, the company would give you a commission on any client that buys from their website or company, after visiting your website. The commission is usually around 5% to 25%. This business doesn’t involve any capital or risk on your part. Your job is to take care of marketing, and the only way to do this is to keep driving traffic to your page.
  • Blogging: Blogging is becoming increasingly popular over the years. People make blogs about anything they want. Blogs are also free to start. You can also create your own website if you have some funds. Blogging is about writing on different topics and keeping it interesting to drive traffic your page. Some of the ways of doing this include adding pictures, videos to your blog and so on. You can write on fashion, photography, games, movies and so.
  • YouTube: YouTube is a platform of videos and audio videos. People earn money per every view on their channel. A lot of money can be made by creating a YouTube channel. The only challenge is creating great content and attracting traffic to your page. The more views you have, the more money you make. In addition to earning money per every view you get, you can also advertise products for companies in your videos. Another way to boost your revenue is by advertising for companies that share some similarities with the type of content you put out, and putting their links, for prospective buyers. People make tens of millions of dollars through YouTube. However, this requires a lot of dedication, patience and consistency.
  • Podcasting: This is an audio recording that involves conversations on various topics. This can involve more than one person or could be one person. A lot of people have been getting into podcasting lately. A lot of people like podcasting, because you can just listen to them while driving your car.
  • Freelancing: There are many freelance websites that are free. All you need to do is open an account, and start applying for jobs. There are thousands of jobs to do on this platform

References

8 Online revenue model options for Internet businesses | Smart Insights. (2019). Retrieved from https://www.smartinsights.com/digital-marketing-strategy/online-business-revenue-models/online-revenue-model-options-internet-business/

Stelzner, M. (2019). How to Generate Revenue With Your Content. Retrieved from https://www.socialmediaexaminer.com/generate-revenue-with-content-how-to-joe-pulizzi/