Do you want to start a business but are low on startup money? Don’t worry, Karene is here 🙂
How to start a business with no capital is the most asked question that aspiring entrepreneurs with little money ask themselves.
The No. 1 reason most people refrain from starting their own business is the usually high investment associated with starting a business. But there are many businesses that anyone can start with little or even no money.
Get ready if you want to start a low-cost business? I will show you five online business ideas that you can start today.
Start A Blog
You may be wondering why you should start a blog.
You might be thinking, “A blog is something that only people who are already successful do, I’m not successful so how can I start a blog?”
Based on Glassdoor statistics, the “Average Base Pay” for a blogger is $50,625 / yr. So what are you waiting for?
To start a blog, you only need a computer and a niche to get started. You can start with a free or paid hosting company to host your blog.
A blog is a great way to share your thoughts and ideas with the world and can serve as an excellent career booster. You don’t need to have a large following or an established career in order to start a blog, but it is helpful.
Some ways to make money from blogging are adding ads on your posts, doing affiliate marketing, offering sponsored posts, creating and selling products on your blog, and even offering services, consulting, or coaching.
Start A YouTube Channel
Have you ever heard of Ryan Kaji?
According to Forbes, Ryan Kaji made nearly $30 million with his youtube channel, which has more than 40 million subscribers. Kaji’s channel contains videos of home science experiments and new toys reviews.
If a child can do it, you can do it. Starting a YouTube channel is really easy, and you have one without knowing it. If you have a Gmail account, good news, you already have a YouTube channel!
It’s the same as blogging but with videos. Create a video about specific topics you know and love, get visitors to your channel.
YouTube is where you can upload videos of yourself doing anything and everything. You can upload them to share them with friends or upload them for a job or money. You can also make a YouTube channel where you post videos of yourself and they are like a diary of sorts.
You can make an intro video to introduce your channel to subscribers, about videos, and even ask questions for subscribers to answer. YouTube is a great way to share your life with people that want to watch it.
Ways to make money are to place ads on your video, do affiliate marketing in the video description, offer sponsored video, promote products, services, consulting, or coaching.
Online Music Lesson
If you have some musical knowledge and talents?
If the answer is “Yes,” then you can start a music lesson business.
According to ZipRecruiter, as of Jun 12, 2021, the average annual pay of a “Private Music Teacher” in the United States is $76,389 a year.
Just in case you need a simple salary calculator, that’s approximately $36.73 an hour, $1,469 a week, or $6,366 a month.
Teach those who what to learn how to play an instrument seems to be a great source of income. In today’s world, online teaching should be seen as an opportunity to start your own business. You can recruit more students not only in your region but also all over the world. In addition to higher income, you can also learn about other cultures, enabling you to learn from your students too.
You can start with no money at all if you already have your instrument, a good internet connection, and a device like “Zoom” that can be used to host your lessons.
Start An E-Commerce Business (Drop-Shipping)
Starting an E-commerce business may sound like a challenging thing to do, but if you go the drop-shipping way, you can begin with a meager cost.
Drop-shipping is a fulfillment method in which the manufacturer or seller does not keep goods in stock. When a customer orders an item, the retailer instructs their warehouse to ship it directly to the customer.
The retailer never sees or handles the goods before they are shipped to a customer. The retailer relies on its supplier or manufacturer to ship the goods to the customer.
This fulfillment method is popular for small businesses that cannot afford to start with an inventory.
It’s very easy and cheap to set up an online e-commerce store with Shopify. Within some hours, you can have everything set up and have a running business.
For promotion, you can first share your online store link on social media. However, eventually, you can spend money on Facebook and Instagram to buy targeted ads and attract more customers.
Social Media Manager
Are you spending countless hours on social media like Facebook, Instagram, Pinterest, or TikTok?
Why not get paid for these hours?
Nowadays, many startups find their customers through social media, and the help of an expert to engage with followers and create content is a must for their success.
According to LinkedIn, the base earnings are on average $50,000 per year.
As a social media manager, your job will be to manage your client’s social media channels. Develop creative and engaging social media strategies. Moderate and respond to online customers via social media and, more importantly, convert followers to customers.
Conclusion
The internet is a great place to start an online business. The low start-up costs make it easy to get started and the low-cost website hosting programs, domain names, and email programs make it possible to be up and running in no time.
The five business ideas discussed in this article are all examples of online businesses that can be started with very little money.
I hope this small list will help you start something, and in the long run, I will be adding more to it.
That’s it, guys! The top 5 online business ideas to start with little or no money!
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