Online Businesses In 2020: How To Start With No Money

Blogging
192
0
sample-ad

The Internet offers equal opportunities to all of us. In business especially, it has flattened the playing field. Actually, anybody can start a successful money-making online business, anyone disposing of a computer and internet, it’s all required. But here’s the thing: virtually no technical experience is needed. Today you can leverage plenty of tools you can benefit to build an online business that makes the technical work significantly easier than it was in the past.

The online business world you give many advantages you can live anywhere you want, manage yourself your own schedule and work as little or as much as you want, depending on the speed of growth you consider for your business. You can start with No business or marketing experience, but don’t forget that despite the multitude of advantages the online business area isn’t inconvenience-free, and primarily the biggest inconvenience is the highest rate of competition.

Best of all, unlike a classic business, you don’t need huge startup capital. Practically, you can get many internet businesses up and running with no money at all because so many free services simplify the possibility. For example, the most powerful blogging platform WordPress you allow to start your blog completely free, with a few bucks paid for your hosting and domain name, you can own a professional-looking blog equipped with a free WordPress theme. Equally, you can leverage a third-party site like Amazon or eBay to sell goods with no inventory costs. You can benefit from their selling platform in exchange for your business selling capacities. Many bloggers widely make six figures revenues through these platforms.

And this is just the start of the many available no-money e-commerce startup solutions. Let’s consider five of the top ways to start an online business and make money online with little or no cost at all.

1. Drop-Shipping

Actually one of the most lucrative online business models is dropshipping. Dropshipping is a retail E-commerce method where a store doesn’t keep the products it sells in stock. As an alternative, when a store sells a product leveraging the dropshipping model, it purchases the item from a third party supplier and has it shipped directly to the customer. As a result, the seller doesn’t need to handle the product directly. That reduces the financial cost and risk of having a stock full of stuff you might not sell, and the routine of arranging to fulfill orders all over the country or the world. In fact, you don’t have to produce or store any products at all.

The only thing you have to perform is marketing and advertising to find the customers and multiply your sales. Once the sale is made you don’t have to worry about the rest wich is handled by suppliers. You have to cover only the expense of marketing and advertising to acquire a new customer.

Once that is done, you’ll collaborate with a company that specializes in dropshipping. Here’s how it operate:

  1. You list products for sale on your website or a platform like Amazon, eBay, or Etsy.
  2. When one of your customers makes a purchase, you purchase the product from a third-party company (the drop shipper, usually a manufacturer or wholesaler) for a lower price. This process is as simple as forwarding the order from your customer, a process that can actually be completely automated. (Remember you don’t have any risk here of buying inventory because the sale has already been made).
  3. Your drop shipper then sends the product to the customer.

Not difficult, right? With drop shipping, you can offer a wide range of products, so the operating expenses for your business are super low.

As you can see there is no risk on your part because you don’t even purchase the product (at cost) until the actual sale is made!

What are the downsides to the dropshipping business model? You have to find a reputable drop shipper you can count on to deliver to your customers. If an order is late or doesn’t go out—or a product is of poor quality—you get blamed, as your company is the one representing the product and customer experience.

Also, because this market is so competitive, the margins—that is, the difference between the wholesale price and how much you can sell a product for—are lower, so this will be a high-volume type business to generate a serious income you need to rely on sales volume. But still, it is a worthy low or no-cost online business option.

One way to stand out from the competition with a drop shipping business is to private label your products. This simply means you put your own label/brand on the products that the manufacturer is creating. That way you’re not selling the same product brand and just competing on price; rather you can use your own brand and face less competition. Think about when you’re looking at medicine at the pharmacy; the brand names sell for higher prices and people think they are different from the generic brands even though the ingredients are exactly the same. Consider these important factors when looking for a good dropshipping product.

If you are seriously looking to start your dropshipping business check our article How To Create Your Shopify Store.

Anyone willing to start a dropshipping business should seriously consider leveraging Amazon.com to grow their business and learn more about becoming a profitable Amazon seller because Amazon is an established and trustworthy marketplace that people already trust and has an existing customer base. Obviously, you should also consider having your own online store as well.

Pros

  • Requires very little startup capital
  • No need to maintain inventory
  • You can leverage established marketplaces with existing customer bases

Cons

  • You can be blamed for your drop shipper’s mistakes
  • The market is very saturated
  • You must have a huge volume of sells in order to generate a substantial income

2. Affiliate Marketing

Affiliate marketing is in some measure analogous to drop shipping but with some key differences. With this e-commerce model, you again don’t have to worry about an inventory of your own products, either operating the shipping of products to customers, your task is to orient potential customers to the right products.

Basically, you choose a profitable niche for your online business, and then you find an affiliate partner who provides products or services appropriate for your niche. Some of the most popular affiliate sites are Clickbank.com, Amazon.com, and CJ Affiliate by Conversant (formerly Commission Junction). Between them, they offer just about any digital information product (like ebooks, audio files, video files) or physical products you can think of. May big-name companies and brands, like Wal-Mart, Home Depot, etc. run their affiliate programs through these third-party affiliate sites.

With affiliate marketing, you offer the products for sale, for example, on your blog or e-commerce website. Each product has a unique link that tracks back to your account with your affiliate partner. A prospect who clicks on the link is taken to your partner’s shopping cart for checkout. Once they buy, that purchase is recorded and you receive a commission. Commission amounts vary depending on the affiliate partner but are generally 5 percent to 25 percent, or 50 percent or more with digital information products. As you can see, there’s little risk on your part and virtually no investment needed either. Just like with drop shipping your only costs will be marketing and advertising to drive traffic and generate the sale.

The key difference between this and drop shipping is that the business model is even more hands-off. All you have to do is provide a link for the customer to click on and the merchant handles everything; billing, order fulfillment, customer service, etc.

All you have to do is handle the marketing to get your prospects to buy (through social media, email marketing, blogging, or whatever method you choose). But after they click the affiliate link, it’s out of your hands. You don’t have to ship products or handle any customer service questions. And you certainly don’t have to maintain an inventory.

If you have a solid source of organic traffic then affiliate marketing really is one of the most “hand-off” types of online businesses you can envisage.

Pros

  • Low risk: No initial investment required
  • Hands-off business model

Cons

  • You’re responsible for driving web traffic to the affiliate link (no traffic means no money)
  • May need to spend money on advertising and marketing

3. Blogging

If you are passionate about a subject or you have the expertise required then you’re able to start making money with a blog. With a service like Blogger (www.blogger.com), you can start up your blog totally free. You can also create your own site and secure your own hosting for a low price, which is generally the route I recommend, as many free blogging sites have restrictions on what you can say or do, including making money or advertising.

You may think blogging is all about writing. And it can be if that’s what you want to do. But written blog posts are just the start. You can post photos, videos, and links to other sites, you can even repost news and other articles… anything is game, really, as long as it relates to your niche.

The key is that you want to post original content that is useful to your target audience and to post on a regular basis. That is the preferred way to get ranked in the search engines and to also get your audience to take action. This is also practically the only way to be sure to generate organic traffic because this is the key to online earning. Try to provide more income trough your content, because your future gratification is in direct relation with the value you provide.

What type of content should you create? Anything that is engaging to your prospect. How-to topics, top-10 lists, commentary on trends in your niche, tips and tricks articles—basically, you need to provide useful content.

You can make money in a variety of ways with an online business blog.

Blog ad networks.

You can also work with ad networks other than Google, like Blogads or Media.net and run banner ads on your blog. Same as Google Adsense ads, you place the code once on your website and when your visitors click on the ads then you get paid. Your income mainly depends on your blog niche and traffic quality, from various states as CTR and CPM. In addition to banner ads, you can also run video ads on your site.

In many cases, you can make more money online with blog ad networks, but they tend to only work with blogs that are getting tens of thousands of visitors a month or more; as opposed to Google Ads where you can start right away independently of the amount of traffic you get.

Affiliate marketing.

We have already covered this topic. You integrate links to products that you are promoting as an affiliate and each time somebody of your visitors buys the product, you get a commission. With a blog, you can integrate advertising with content to make it even more likely you’ll get the sale. For example, you could do a product review—which is useful content—and then include a link to buy the product under an affiliate link.

You need to provide useful content in an attractive way.
If your blog is annoying or the information can be found everywhere else, nobody will read it. Don’t hesitate to put your own personality into the blog think primarily for the value you are creating through your blogging experience.

You have to post valuable content on a regular basis.
You need to enrich your content regularly. People thirst for the new, so make sure you put up articles, videos, or whatever consistently. It could one post per day or three times per week. Whatever it is, maintain the same schedule. A scattershot posting history means losing readers.

At a minimum try to aim for one new post, video, or other forms of content a week.
Yes, your blog is envisaged to make money. But you can’t make marketing pitches all the time. Focus on valuable content so that your readers come to know, like, and trust you. Make money through your blog will take some time you have to be patient and focused on the value of your blog. Don’t pursue income first but pursue the value that you provide. Then your visitors will naturally click on your advertising or buy the products you recommend. In this era of the internet and social media, people are looking for authenticity. One of the most preferred affiliate programs for bloggers is AmazonAssociates.

Pros

  • Very low start-up costs
  • You may work on your own schedule

Cons

  • May take a long time to begin making money
  • Creating and posting content can be time-consuming

4. Online Video

Doubtlessly you watch various youtube videos each day, but have you ever wonder how much money you contribute to the owners of these channels by watching their videos?. According to statistics with 50,000 daily views of your videos, you can expect an approximative daily income of 70$. It’s a pretty good income worthy of all efforts required for it.

You can benefit from YouTube’s reach to make money online. Your dream is to create a viral video, so to speak, even if it does go worldwide and is seen by millions, that’s a good thing.

Instead, you’ll be following a trusted strategy for maximizing views of multiple videos on a regular basis. You’ll be creating useful content—something attractive that people want to watch. And it works in many, many different topics. You have a large choice it could be a how-to video or a talking-head video on a topic of interest for people in your niche.

The main income of youtube entrepreneurs comes from their ads. You have to start by creating a YouTube account and uploading videos. Then you enable monetization on your YouTube settings. Essentially, this gives Google the go-ahead to include short AdSense ads with your videos, which you’ve seen if you’ve watched a YouTube video. You get paid when viewers click on those ads, equally for the page views that you generate.

Some tips to create professional-looking videos (no expensive pro equipment needed):

  1. You can use your smartphone or a simple video camera. But make sure the lighting is good so that everything in your video is clear and easy to see.
  2. Make sure the audio is clear. You don’t want an air conditioning hum, construction noise, or other distractions.
  3. Use simple editing software like iMovie to put titles at the beginning of the video and to edit out any flubs.

Above all, remember that your videos can be simple and don’t have to be slick. Just provide useful content and be engaging and interesting. Funny helps, too.

Pros

  • You can use your existing smartphone or computer
  • It works across several different niches

Cons

  • Creating and posting videos can be time-consuming
  • It may take a while to begin making revenue

5. Information Products

When you have an online business, it doesn’t have to based necessarily on selling physical products. As a matter of fact, digital information products are one of the easiest and quickest ways to earn money online.

There’s no shortage of ways to create information products, but the most popular formats include:

  • Audio: a recorded teleconference, interview, course, or some other spoken-word product
  • Video: a recorded webinar, a how-to, an interview
  • Text: an ebook, an instruction booklet of some sort, a travel guide

In each of these categories, you can really get creative and make any type and format of content, as long as it’s engaging and useful.

Independently which way you do it, you are about creating a passive income source, the money you earn while you sleep because you put these products up for sale on your website and a customer can buy and download them any time of day or night, without your interaction. All you have to do is check the sales periodically to see what topics or types of products are selling best so you can make more of those.

Pros

  • Can bring in passive income once you put the product on the market
  • Can be a quick way to make money online

Cons

  • Creating a product takes some hard work and time
  • You may need to invest some money initially

In Conclusion

The astuteness of any online business is to be convinced you’re in a profitable niche market. So be sure to track the trends, check out bestseller lists on sites like Amazon, and observe what people are discussing on social media.

Moreover, you need to realize that you aren’t restricted to the choice of e-commerce opportunities. You can try to combine a few of them.

Start out with one and keep it going. Then multiply your revenue streams as you’re able. That will grow your income and ensure that you have something to rely on when one business starts going down.

sample-ad

Facebook Comments

POST A COMMENT.