Starting a business can be a time-consuming and costly process. Franchises can have upfront costs and many times reoccurring fees as well. Purchasing a building for your business might not be in your budget and you’d have to take out a loan to do so. Don’t forget one of your most expensive costs: employees! If you daydream about starting your own business, why not consider starting out on the Internet? Here are three low cost online business opportunities you can start with the computer you’re using right now.
3 Low Cost Online Business Opportunities
1. Professional blogging.
Bob’s popular (and massive) article, How to Make Money with a Blog, is a must-read for those of you who are interested in making money online. Yes, you can make money online, and what better way to do it than by blogging about your hobbies and interests?
I don’t know about you, but when I want to learn something I turn to the Internet (Google, more specifically). When you publish an informative and/or interesting article, it will get traffic. Professional bloggers monetize this traffic by recommending a product or service they love or advertising through programs like Google AdSense.
For those of you who are serious about becoming a professional blogger, consider signing up for Blogging Your Passion University. Bob Lotich and Jonathan Milligan have created an exhaustive resource of video walkthroughs there that will take you through the process step by step.
2. Online storefronts.
We’ve all heard eBay success stories. There are so many of them! Why can’t you be one of them? In addition to your eBay store, you can have your very own website that links to your eBay store and further advertises your business.
You can sell all kinds of things on the Internet, even downloadable items such as eBooks! E-junkie.com allows you to store and sell downloadable items in conjunction with PayPal.com. This automates the process to allow you to sell even while you’re sleeping!
Do you make handcrafted goods, want to sell vintage items, or have supplies you can distribute? Give Etsy.com a try. Again, it helps to have your very own website so that people who search for your online business can see a unique page describing what you do. You might even want to add some YouTube.com videos to your website for further promotion!
While having an online storefront often requires more overhead than professional blogging, you’ll still save money by not having a brick and mortar storefront.
3. Virtual consulting.
Are you an expert at something? Use your knowledge to start a virtual consulting business! Many times all you need is a website, a phone number, and an email address. Check your state’s laws regarding consulting before you begin your business.
There are some great opportunities here to provide people with the information they need and get paid for your services. Brainstorm a few ideas and launch your online consulting business!
How to Launch Your Online Business
The beauty about starting an online business is that you are able to keep down your overhead. You don’t have to pay for a physical location, you can easily create your own brand using a simple graphic editor program, and employees are many times optional. You can also test a few business models to see what works well for you – without risking large amounts of money. Once you have an idea of what type of online business opportunity you want to pursue, it’s time to launch your website. Here are some things you can do to get started!
Sign up with a web hosting company.
Bluehost is an excellent web hosting company and what I personally use over at my website. They offer unlimited domain and storage space, and have very helpful customer care staff. Plus, they’re one of the lower cost hosting companies out there.
Picture web hosting as the plot of land your online business rests upon. Your hosting company will store your website’s files so that people can access your site. It’s their job to make sure your site stays online and lightning fast.
Choose your domain name – carefully!
When you sign up for your web hosting, typically you are given one free domain name to choose (this is the case with Bluehost). Make sure you choose wisely, as this is your online business address (http://christianpf.com is the main business address of ChristianPF). Give this one some time to think through.
It is helpful if your domain name matches what the business actually does, and if you choose your address carefully, it might even rank well in the search engines (for example, Bob also owns http://christianpersonalfinance.com).
Grab some social media addresses.
Facebook.com and Twitter.com are great places to announce your online business. They are also excellent places to interact with your customers! You’ll get all kinds of feedback on your business and ideas for making positive changes. You can make a page on Facebook and tweet specials or articles from Twitter. Don’t underestimate the power of social media!
With a little homework and the right tools, you can launch your online business and pursue the job of your dreams – for very little cost! Now go make some money!
Do you have additional low cost online business ideas? Share them in the comments or leave a question below!