Starting An Online Business On A Shoestring Budget
Starting an online business is an extremely affordable option when you use the right resources. Doing thorough research before choosing a niche will save you from wasting your time and financial funds on unprofitable niches. You can use Wordtracker.com or even Google’s free external keyword tool to perform some simple keyword searches.
Your goal during research is to closely watch the statistic results to help you choose a niche with a fairly high demand but not overly competitive. You will also want to consider choosing a targeted audience that’s willing to spend money. Many marketers think of it in simple terms as this: What are people’s problems and how can you offer them a solution? Most are willing to pay for those solutions.
What can I start selling online without a big investment?
Selling information is an extremely low-budgeted way to start your online business. For those who are on an extremely tight budget or do not have time to develop their own products, affiliate marketing can be a very good option. Many marketers have started off promoting affiliate products and as they gain revenue, they reinvest their money back into their business by either developing their own product or outsourcing it to someone who has adequate skills.
Another way to start your own online business with very little startup expense is to offer your own expertise. Many people are seeking coaches or mentors to help them succeed in financial budgeting, losing weight, learning computer skills, writing skills, developing their business plans, making money online, etc. You can quickly build your portfolio by offering to help a few people at no cost. Let them know you would like to include their testimonial on your site. Offering testimonials on your site will be very effective in helping you kick-start your online business and gaining new customers.
If you’re not interested in selling information online, but would rather make money from a hobby or selling other tangible products, you have a world of resources at hand by using the internet to find thrifty resources for gathering items to sell or supplies you’ll need for your projects, shipping and packaging equipment, etc.
What are the main essentials for starting my online business?
Your main expenses for starting your online business will be registering your domain name (select carefully using your keywords if possible) and signing up for a hosting company (look for Hostgator’s coupon code online for your first month hosting) for your website.
By installing WordPress (most hosting companies have software that automatically installs WordPress at no cost) you can save money on costly web design expenses. There are thousands of free WordPress themes available to choose from. After your business starts earning revenue, you can easily update your site with a premium WordPress theme without affecting any of the content already on your site.
You’ll also need a shopping cart. If you’re selling digital products, you’ll want one that will automatically deliver your digital files to your customers after their purchase. Again, WordPress comes in handy because you’ll easily find shopping cart plugins that can handle this job. (Don’t worry, WordPress plugins are easily installed. If you need help, search YouTube for a tutorial.) If you’re not using WordPress, you can consider using some budget resources such as Paydotcom.com or DigiResults.com (no software installation required.)
One other recommended tool is an autoresponder. Although a little more costly, an autoresponder is a very handy tool that many marketers depend upon for their success. Autoresponders help you collect leads from your visitors and deliver a free report or information automatically, making it hands-free for daily maintaining your site. Aweber.com is one of the most respected resources by online marketers and currently for just one dollar you can get started with your first month.
What are some ways to market my site on a budget?
You can gain free traffic to your site by taking time to learn some simple SEO (search engine optimization) tactics. There are also many other options that can help you kick-start your marketing campaign at no cost: article marketing, forum marketing, social bookmarking and social networking (such as Facebook and Twitter) are a few basic ones that require very little skill to learn.
You can also gain some cheap traffic to your site by using pay-per-click (PPC) advertising offered through many search engines such as Google or Yahoo! Search. However, you should proceed with caution and take time to learn the ins and outs of finding low-cost keywords to bid on. PPC advertising can quickly become quite costly if not managed and maintained properly.
To keep your business thriving on a shoestring budget, keep in mind other thrifty resources. Vistaprint allows you to get free business cards printed. Fiverr.com is a helpful resource for outsourcing services for only five dollars. You can outsource simple services such as getting ecovers or logos made, articles written, videos created, etc.
One other option that’s super thrifty is swapping services. For example, if you’re good at writing, but do poorly at graphic creation, contact another marketer who is good working with graphics and offer to write some articles for his article marketing project in exchange for his services with graphics. If you simply can’t swap services and you can’t afford to outsource needed projects for your online business, consider using YouTube for learning some DIY projects. There’s tons of computer and software tutorials available.
As you can see, you don’t need a wealth of resources or money to start an online business, but realize that your customers are the true source of wealth. It cost much more to gain new customers than keeping the ones you have already. So, although you may be starting off on a shoestring budget, with every customer you get, treat them like royalty and you’ll gain their loyalty…and establish a successful online business.
Work with me personally-Click here
Connect with me on Facebook
To Your Success,
P.S. Please click the “LIKE” button at the top of this post and share with your friends on Facebook. I also love it when you leave a comment and I will attempt to answer each one personally. Thanks and stay inspired!!!