5 Online Businesses You Can Start With Little or No Money
It’s no surprise how much internet has made progress in the last few years and how fast it’s growing especially when it comes to online business. It is so simple that anyone with a computer can start a money-making business online. Easy to use tools and services are so user friendly that no special skill or programming knowledge is needed to build your online business website.
The best part is, an online business can be accessed from anywhere, 24 x 7 and you don’t need a lot of capital to start one. All you need is the dedication and interest to make your online business a success.
You can setup your website or a blog FREE using WordPress.
Without further due, here are 5 online businesses you can start with little or no money at all.
- Affiliate Marketing
You’ve probably read about affiliate marketing or heard of it from other successful online business owners. Affiliate marketing is simple earning a commission on products that you refer to your audience by placing the links on your website or blog. When your visitors click on the link and purchase that product, you will get a commission which is set by the seller or manufacturer of that product. Commission rate is shared when you sign up for the affiliate program, either through affiliate networks or directly with the seller.
Some of the most popular affiliate networks are Clickbank, Affiliate Window, Shareasale, Rakuten marketing (Linkshare), and Amazon Associates. They work with many sellers with many different types of products.
When signing up for affiliate programs, choose partners who offer products that match or go well the niche for your online business. For example, if your website or blog is about pets, affiliate with partners who offer products like dog food, grooming services, pet sitting services – well you got the idea.
How exactly does the affiliate link work?
You place a product link on your website – the link is unique, it includes your unique ID that is linked to your account that you’ve created with that affiliate network or partner.
Your visitor clicks on the link and is taken to the seller’s website and purchases the product. Due to that unique ID (included in the affiliate link), the purchase is recorded (by your affiliate network or partner) and you receive a commission.
If done right, affiliate marketing can be quite a profitable online business. However, you cannot just add the links and expect to make profit. There is some work required from your end like marketing. You can market in many ways like Facebook. Create a Facebook page for your business and share your posts. Email marketing is another way to promote your online business.
With affiliate marketing you don’t have to worry about storing, shipping or handling the inventory. Only thing you have to focus is promoting your site so you get more visitors which increases the chances of earning more commission through those affiliate links.
All you have to do is focus on paid and free ways to market your online business.
- Drop Shipping
Similar to affiliate marketing, online drop shipping business is also where you don’t have to store, ship or handle inventory. Which means you don’t need a warehouse or ship items to your customers.
Instead, you work with companies like Amazon that specializes in drop shipping.
How does drop shipping work?
First, you partner up with a third-party like a manufacturer or wholesaler who specializes in drop shipping. You will find many on Aliexpress.
Next, list the products on platforms like Amazon, Ebay, Shopify. When your customers make a purchase, you send the order to your third-party company. Meaning you buy that product from your third-party company (wholesaler, manufacturer, drop shipper) at a lower price. Your third-party company will ship the product to your customer without any invoice.
How do you make money?
You list the product for $25 on Amazon. Client places an order for that product. You buy the same product from your third-party company at a lower price ($12). Third-party company ships the order to your client. Between these, you made a profit of $13 on that one product. You didn’t have to warehouse or ship the product.
Drop shipping is an easy way to make money online, the only piece that requires lot of research is finding a reputable drop shipper. It is important because you want to work with someone who can deliver quality products and ship the items on time to your customers. If the orders are not shipped on time or if the quality is not as great, it will impact your business. There will be less sales.
If you’ve got passion or interest in certain subject or are an expertise in certain area or field, you can make money online with a blog. Setting up a blog is easy and can be setup in few minutes.
If you love writing and like to share new ideas with your audience then blogging is the way to go. On your blog you can share your ideas through content, images, videos and even linking to other sites that you think will be helpful to your readers.
Yes, content is the king. It’s very important that your posts share things that your readers will find helpful. Before writing your posts, invest time in researching about the topic and gathering all the tips and ideas. Use a blog planner to jot down all the important notes about the post that you are trying to put together. Research the keywords, brainstorm a catchy title and highlight the ideas you will be sharing. Goal is to create useful content for your readers. If needed you can have your content written for you. Use Fiverr to find writers for your niche.
Post your articles on a regular basis, so your audience are getting fresh and new ideas when they visit your site. If you have the same info and do not update on a regular basis, your blog will become boring and you can lose your audience. Create a schedule. Maybe post a new article once a week – something that works best for you.
How do you make money with blog?
There are many ways you can make money with your blog and here are the most popular ones.
- Affiliate Marketing – which we just talked about. Link products that you think your visitors would be most interested to purchase. Products that go well with what your blog niche.
- Google AdSense – this is probably most popular way for bloggers to make money online. Google adsense are pay-per-click ads that appear on your blog. When your visitor clicks on the ad, you make a few cents. It’s not much, but does add up.
Be patient. You won’t start making money immediately but with great content, and fresh ideas, you will start attracting visitors and make money.
- Digital Products
Have you ever been to a website where you’ve bought an ebook or online course offered by the owner of that site? That ebook is considered as a digital product. Digital products are getting very popular as it is one of the easiest and probably quickest way to make money online.
Again, if you love writing and are an expertise in a field that would interest your audience, spend some time putting an eBook together with instructions, ideas or tips. Get creative and make the content engaging and useful. Each time someone buys your eBook you make money – even while you sleep! Customers will be able to pay for the product and download them instantly.
Need more info on putting an eBook together. Read this.
Other than eBook, you can also sell digital photos. Website owners need attractive photos for their sites, so this is a perfect online business – digital photography. Check out CreativeLive to learn more about photography.
- YouTube Videos
You’ve probably watched YouTube video and subscribed to some of the channels. It’s amazing how popular YouTube has become over such a short period of time. It’s no longer just music but there are crafting, gaming, cooking, sewing, instructional and so many other types of videos. Pretty much if there is something you want to learn about, people go to YouTube.
How do you make money with YouTube videos?
You create an engaging and useful video like how to make certain thing or show your audience how to use a tool, etc. You create a YouTube account and upload your videos. Then enable the monetization on your YouTube settings. This gives permission for Google to include AdSense ads with your videos. When viewers click on those ads, you get paid.
Market your videos by sharing them on your Facebook page, on your blog or any other channels.
So you see making money online is not difficult, if you’re in a profitable niche market. Do your homework, research and find out what’s in trend, check out Amazon and see which products are bestsellers. Pay attention to what people are talking about on social media.
According to successful bloggers, it’s a good idea to start with one method of making money online and add the others as you get more comfortable. Starting with all of them might get overwhelming and exhaust you out. Take one step at a time.
DISCLOSURE: Many of the links in the article above, and throughout this site, are affiliate links. While there’s no additional cost to you, any purchases made via those links may earn me a commission.