For some, the Internet is a way of entertainment, communication, information, for others – a workplace. Online earnings are available to all categories of the population – private entrepreneurs, housewives, pensioners, students and schoolchildren. In this article we’ll discuss – How to start an online business with no money and how much can you earn if you start an online business? So, let’s start…
There are thousands of ways to monetize the Internet. You don’t even need to have your own website to get a steady income. The main thing is the presence of desire and free time.
I am Devansh from AIMagnus and I will tell you how to start a business on the Internet, what methods of making money on the Internet exist, how to choose a niche for entrepreneurship and what are the features of modern online business.
We read to the end – in the final you will find life hacks and tricks for a novice entrepreneur, as well as an answer to the question of how much you can earn by starting a business from scratch.
Table of Content:
- Business on the Internet – earnings for the “lazy”.
- TOP-6 ideas for starting a business on the Internet.
- How to create an online business selling goods from scratch – a step-by-step guide?
- How to choose a niche for starting an online business – 5 useful tips?
- How to achieve success in Internet business – tricks and life hacks for a beginner entrepreneur?
- How much can you earn on the Internet – my personal experience?
1. Business on the Internet – Earnings for the “Lazy”
The Internet is a territory of unlimited opportunities for those who want to work for themselves and receive a guaranteed income, regardless of economic crises, the dollar exchange rate and the availability of initial capital.
Thousands of people are doing this right now. They have already made the Internet a source of real financial independence. If you want to follow their example, this article will help you choose the direction and arm you with useful knowledge.
But I want to warn you in advance – I put the word “lazy” in the section heading in quotes for a reason. There is a persistent philistine opinion that those who are too lazy to look for “normal work” go to the Internet in search of earnings. As if the net is the habitat of idlers, lazy people and projectors, almost alchemists looking for the Philosopher’s Stone.
I dare to assure skeptics – this is a fundamentally wrong point of view. I myself have encountered this attitude from friends and family members when I left my “normal” job for the network.
I still encounter bewilderment and skeptical smirks, especially from the older generation.
But on the other hand, relatives and friends do not need to prove anything else – they already know in general terms that my earnings are quite enough for a comfortable life, that they are no less stable than earnings in a “real job”, and they relate to working in the network quite adequately.
I will list all the advantages of doing business on the Internet:
- a wide range of directions for commercial activities – realize your talents and abilities, depending on their availability;
- you work exclusively for yourself, not for your uncle;
- you are not tied to a workplace – work the way you want and where you want: at home, in an internet cafe, in a co-working space, in Thailand;
- the working day is not standardized – you want to work from dawn to dawn, you want 2 hours a day;
- appoint weekends and vacations yourself;
- you do not have bosses and strict rules: if you want to change the direction of your activity, please;
- the amount of income is not limited – it all depends on your abilities and ambitions.
Working on the Internet, you become the master of your life. The feeling of freedom when you move from a normalized working day to a free schedule is not comparable to anything.
But it is important not to confuse freedom with sloppiness. Money will not fall into your wallet on its own – simply because you have declared yourself a freelancer or internet entrepreneur.
You still have to work hard and persistently. The lazy person is unlikely to be able to achieve more or less noticeable results in the network. The discipline for working on the Internet requires no less, and even more, than for office and industrial work. Lack of external control for budding moneymakers is often the main problem.
Do You Need an Initial Investment?
It depends on what you plan to do. If you open an online store or launch a startup that requires full-fledged promotion, you cannot do without initial capital. If you plan to sell your skills and abilities online, investments are not required.
Internet entrepreneurship is not for everyone. There is no guarantee that the investment of money and time will necessarily pay off. I know people who, after spending a couple of years in e-commerce, went back to the office for a stable salary. I am also familiar with those who make millions online.Pay Attention
But if you are confident that online business is your way, then do it. We choose what kind of business to do and begin to move patiently, consistently and measuredly in the right direction.
2. TOP-6 Ideas for Starting a Business on the Internet with No Money
In fact, there are hundreds of ideas for starting a business. And each of them has every chance of becoming super-profitable. For example, no one could have predicted that the launch of the world’s first global social networking site, Facebook, would make Mark Zuckerberg the youngest billionaire in US history.
And the founders of Google (two Stanford students) even wanted to abandon their project at first, because it distracted them too much from their studies at the university.
Our top five include the most popular destinations that have already proven their commercial potential. These ideas definitely work – if you can get them right.
Idea 1. Opening an Online Store
Now almost all companies have an Internet resource. Even if the main profile of the company is offline sales, an additional way of selling goods will never be superfluous.
Some companies started out as small offline stores and then developed into online sales giants.
Those who already have an online store know how important a professional approach to website creation is to success. Having a quality product for sale does not guarantee success.
We have previously written a detailed article on the topic of opening an online store from scratch, I advise you to read it.
Idea 2. Creation of an Internet Marketing Agency
Online stores sell, and marketing agencies help them do it. Launching even a separate advertising campaign on the Internet is a matter of professionals.
Even a brilliant advertising idea will not find a response if you are not aware of how search engines work on the Internet, why you need advertising in Google and what SEO promotion is. All this is done by marketing agencies. The demand for them is stable, and the payment for services is high.
Just a couple of days ago, an acquaintance of mine – a successful entrepreneur, owner of an online store selling expensive heating equipment – asked if I would recommend him a good specialist in website promotion. I advised why not help a good person.
How is internet marketing different from conventional marketing? There are many differences – this is a higher level of interactivity, and the possibility of targeting (selection of the target audience), and other prices for services.
For example, an advertising banner on the Internet, due to a more accurate hit in the audience (target audience), will work more efficiently than the same banner on a city street.
What is needed to organize such an agency? Understanding the basics of internet marketing and a desire to grow. The industry is relatively new, there are few professionals. The Internet environment is constantly changing, and with it marketing methods are changing. Those who follow trends and are not afraid of experimentation win.
Idea 3. Consulting Services
If you are professionally versed in anything, no one will forbid you to share your experience with others for money. The provision of remote consulting services on the network is carried out by lawyers, accountants, teachers, practitioners and business theorists, cooks, designers, etc…
The more expensive the consultations are, the higher your level as a specialist and teacher. In addition, the Internet allows you to teach remotely at once a group of interested persons in the format of an online conference.
Idea 4. Website Promotion
Website development and promotion is another popular area of individual entrepreneurial activity. To create and promote Internet resources, you need to have an understanding of HTML layout, types of engines, hosting and domains, and creating templates. But do not be intimidated by these words if they are unfamiliar to you – understanding comes with experience.
Owners of online stores and other commercial portals rarely promote websites on their own – for this they hire specialists.
Also, you can create your own web studio.
Idea 5. Preparing Content for Sites
Each site needs to be filled with unique content. Moreover, in order for a resource to rank successfully in search engines, the content must be regularly updated. This is especially true for information sites, but it is also relevant for other formats – blogs, online stores, service sites.
If a potential client comes to the site of a beauty salon and sees last year’s New Year greetings from clients in the “News” section, trust in such a resource immediately disappears. If the owners are too lazy to update the information sections for clients, then the rest of the services will be of the appropriate quality.
A similar attitude to the resource will be in the event that the site has a bad design, illiterate descriptions of goods and template information about a “dynamically developing company” and “a team of professionals” on the home page.
Websites need professional content. And it is supplied by freelancers: designers, copywriters, technical specialists. Their services will be in demand as long as the Internet exists.Editorial Tip
Idea 6. Profitable Sites (Blogging)
This idea unites the two previous ones, only here you are not acting as a freelancer or an employee, but as the owner of a resource where you can earn money. Many new sites appear on the Internet every day, and in most cases they are created to earn money. There are several ways to monetize – contextual, teaser and banner advertising, making money on affiliate programs, publishing materials for money, etc.
Profitable sites can be viewed as online work if you do everything yourself, and as a profitable business if you outsource it to freelancers. One copywriter/editor, one SEO specialist and one technical specialist are enough to maintain the work of the resource. It will take time to bring the site to monetization, but then it can become a source of high and stable income. You can create such a resource yourself or buy a ready-made one.
In addition to the ideas listed above, there are dozens of others – traffic arbitrage, making money on social networks, creating a YouTube channel, etc…
Business Ideas Comparison Table:
|1.||Online Store||Equal to the purchase cost of the product and the launch of the site.||Pay as much attention to the resource as to the quality of the product.|
|2.||Internet Marketing||Almost not required.||You need to professionally understand the features of online marketing.|
|3.||Consulting||Near Zero||A well-known name and authority is a guarantee of high earnings.|
|4.||Website Promotion||Only your time||You need to constantly improve your skills.|
|5.||Content Writing||Not required||Competition is high, but professionals are always in great demand.|
|6.||Blogging||Domain, hosting and design cost||The niche selection and keyword research is the key to success.|
You may also like to read: 80 Best Ideas of Self-Employment in 2020.
3. How to Create an Online Business Selling Goods from Scratch? A Step by Step Guide
The basis of economic relations between people has always been purchase and sale. Therefore, most entrepreneurs on the Internet act in a proven and reliable way – they open an online store.
To do this correctly, use a step-by-step algorithm.
Step 1. Choosing the Direction of Trade and Preparing a Business Plan
If you do not have an investor, you will have to make the initial purchases with your own money. There is another option – your online store will act as a kind of intermediary between the buyer and the wholesaler. But for this you need to work quickly and establish contacts with suppliers in advance.
Almost any product can be purchased on the Internet today. There is competition in all trade niches. So you need to choose the direction wisely. Stable demand is for: cosmetics, health and body care products, natural products, baby products, exclusive coffee and tea.
If you have a product that has no analogues, that’s great. But first you need to find out if there is a demand for it.
I have a friend who sells elite feed supplements for sports horses. It would seem difficult to come up with a narrower niche – but no, there are several such stores in the network.
So my friend takes it differently – he has his own natural production, raw materials based on Altai herbs, and the products are tested by veterinarians and horse breeders.
Step 2. Testing the Chosen Niche
Niche testing reduces risk and provides an overview of the demand for your product. I will write a detailed article on this topic please stay tuned and subscribe newsletter.
Step 3. Create a Portrait of the Ideal Client
Did you know that more than half of all online sales are in USA are in New York? Or that 70% of all online shoppers are women?
A businessman should sense his buyers a mile away. Take into account age, gender, geography, interests, ability to pay, even the level of education.
Knowing your audience can help you set up effective targeted ads that hit the target.
Step 4. Order a Website
Website development is not a cost item that is worth saving on. If funds allow, order design development and launch of the resource in a professional studio. Experts will make the site quickly and efficiently, at the same time they will help with the initial content.
Well, if you want to know how to create your own website yourself, check out the article that we specially prepared earlier.
Step 5. Register a Business with Government Agencies
Internet commerce is an official business activity. Choose the format yourself – individual entrepreneur or LLC. LLP is easier and cheaper to open. The state fee is $80 at the time of writing (USA).
You also have to:
- choose the main type of activity;
- prepare a package of documents;
- submit an application to the Federal Tax Service;
- obtain a certificate of an individual entrepreneur.
- Special permission is required to trade certain types of goods.
Step 6. Launch Advertising
Another expense item, saving on which is more expensive for yourself.
Professional marketing campaign is a guarantee of wide market coverage. And then, without advertising, only a few will find and notice your store. And you can’t do business on casual sales.
Step 7. Make a Profit and Analyze Your Business
The first buyers are the first ones. Don’t rush to rest on your laurels. At the initial stage, feedback is very important: do not hesitate to ask customers how they found you, why they chose your store.
Continuously improve functionality and customer service based on feedback. Don’t chase super profits from the start. Engage customers with discounts, bonuses, promotions and partner offers.
4. How to Choose a Niche for Starting an Online Business – 5 Useful Tips
The key to success is the right niche. Expert advice will help you determine the direction. Bellow are few tips to help you finding the best niche.
Tip 1. Analyze the Demand for Products
Selling rare and original goods online is definitely the right decision. A minimum of competitors, unparalleled products. But the demand for such goods is completely unpredictable.
The easiest way to find out the level of demand for goods is to analyze the number of key queries for different goods in your region using the statistical resource Wordstat. So you will find out the level of consumer interest in certain products.
Tip 2. Consider Product Availability
If the product that you trade on the network can be bought for the same (or less) price in a nearby store around the corner, the online store loses its relevance. We’ll either have to change the assortment or cut prices.
Tip 3. Be in Trend
Follow fashion trends, fan hobbies, the latest news, hits of the season.
A recent example: the craze of schoolchildren around the world with spinners – spinning toys. How much the sellers of this product earned at the peak of its popularity, not a single statistical resource will tell. One thing is clear – these are colossal amounts of money at minimal cost.
Keeping track of these trends is a skill that all merchants must have. Ideally, you should catch ideas before they even start talking about them in the media, forums and social networks.
Tip 4. Consider the Seasonality of Products
Seasonal items – seasonal income. An ideal store is one where the assortment is in demand all year round. Of course, this does not apply to clothing stores, where the supply changes with the seasons.
Tip 5. Make a Test Sale on Amazon or eBay
Amazon is a kind of test platform for studying consumer demand. If a trial batch of a product quickly finds its customers, it means that the product is popular and in demand, and the consumer market requires saturation.
5. How to Achieve Success in Internet Business – Tricks and Life Hacks for a Beginner Entrepreneur
And a few more tricks and life hacks for any business area. Read and memorize – it really helps.
Life Hack 1. Read Literature on Management and Marketing
Practice must be supported by a scientific basis. There is a lot of useful literature that will increase sales at times and help establish effective business process management.
Examples of good books are Philip Kotler Marketing Fundamentals, Seth Godin The Purple Cow, Phil Barden Hacking Marketing.
Life Hack 2. Study the Biography of Successful Businessmen
Nothing motivates better than the life stories of successful businessmen. Almost everyone who is included in the TOP of the richest and most successful businessmen of our time achieved status and wealth on their own. Use the experience of older comrades, learn from their mistakes.
Life Hack 3. Follow the Development of Competitors
An experienced businessman uses competitors for his own purposes – he studies them, adopts the best, analyzes their mistakes and successes.
Isolation in business is like running in a blindfold: dangerous and unpredictable.
Life Hack 4. Look for Like-Minded People
It’s always easier to work in a team. If everyone is responsible for their area of work, the head hurts less and productivity is higher.
Life Hack 5. Work Out New Trends in Management and Sales Technologies
Do not get hung up on one technique or technique. Experiment (within reason), try new things. Online trading technologies change and improve every year.
Until a few years ago, Instagram was just a photo processing application. Now it is an effective sales tool that generates millions in revenues.
Or take, for example, the now popular topic of cryptocurrencies. Read about what Cryptocurrency ICO is and why it is done in our special publication.
6. How Much Can You Earn on the Internet – My Personal Experience
I have been engaged in various activities on the Internet, but my main profile is filling sites with unique content – articles, analytical materials, advertising texts.
The cost of articles depends on the level of their complexity and the level of your competence. It also matters how you evaluate your work. Well-written, well-structured and SEO-optimized content is always as valuable as professional writers themselves.
But even for a beginner in freelancing, earnings of 100 dollars a day are quite affordable. The main thing is not to stay at this stage for a long time, but to constantly learn and move forward.
I also had to deal with remote consultations on the topic of copywriting. Standard rates for such consultations are from $50 per hour, but this is far from the limit.
Among my acquaintances are the owners of online stores, website promotion specialists, marketers, freelancers, sports analysts who sell copyright sports forecasts for a lot of money. All of them have stable monthly incomes that are an order of magnitude higher than the average office salary.
Business on the Internet is available to everyone. You just need a desire to develop and free time for everyone. All you need is a desire to develop and free time.
I wish you stable sales and generous customers. Comment, share your experience, ask questions. Until next time!