How to Start an Online Business with No Money
Starting a business has never been easier than it is now. Before now, to start a business, one would need to rent a shop or warehouse, go the extra mile to buy equipment or stock the shop up with products. The money spent on hiring employees and maintaining the shop was on another level on its own.
It is far easier now. With an e-commerce platform, an offline office is completely taken online. No need to start paying for rent. No need for too many employees. You just set up your online stall, get orders, receive payments and deliver. The coming of the internet has made starting a business far more easily!
Recent statistics show that more than 480 million Indians have access to the internet as of December 2017. There is an upward increase in this statistics. This means that lots of persons are online and they will keep buying if they are presented with the right products.
Starting a business online means you either have a service or product to offer. How you go about offering this product matters a lot. So how do you start an online business with no money? We will take a look at the process in this article.
1. Plan Out The Business
A wise man once said, "Those who fail to plan always plan to fail." No matter the business you want to start, if you don't plan it out from the onset, you will surely fail at the end. The same way a business plan is important in setting up an offline store, the same approach must be used before starting an online store too.
You must know the product you intend to sell inside out. You must know your customers at the tip of your finger. What is your marketing plan? What is your unique selling point? How do you intend to reach your customers or clients? Who is your competition? Where can they be found? How much is their own product going for? You must ask yourself these questions and write out the answers on paper. Type it and keep it close where you can review it daily!
You must be deliberate about your success and planning is one of such ways to do that. Another wise man said, "if you give me the task of cutting a tree, I will use 75% of the time sharpening my tools". Planning is your gateway to success in any business online. You will be able to clearly see how you can start the business without money.
2. Choose The Product or Service You Intend to Offer Online
Choice of product or service to render is very important. Even after you've written in your business plan all you plan to do in your online, choosing the right product has to be very specific with what you really want to offer. On the general note, your goal might be to sell watches, but more specifically, your store could just be selling women wrist watches or you can decide to focus on just males.
One advantage of being focused is that you will be able to build a brand trust and identity as quick as possible. People can easily refer other people to you when they know they are looking for your product.
For those willing to start an e-commerce store, shoppiko.com has one of the best features, themes and support to start from in terms of the creation and management of your e-commerce store.
If it’s a service you want to render, there are lots of freelancing websites out there like fiverr.com where you can offer your services for free.
3. Choose Right Platform and Start Selling Online
Once you have been able to set up your online store. The next thing is to find out the right Platform either Marktetplaces like Amazon, Flipkart, Swiggy, Delfoo or start your own online store using Shoppiko, Shopify, Storehippo for uploading the products you wish to sell. Let's imagine you don't have any form of money to start at all. What you have to do is really easy, you can easily speak to the top shops offering the products you wish to sell and decide to sell theirs on your store for a profit until you get enough money to sell on your own and other option is to choose best eCommerce SAAS platform which allow you to start your online store without any upfront investment.
Tips for Starting a Business without Business/Technical Knowledge
You can start a website, you can create niche pages and sell advertising or put a commercial and sell a product without knowing to programme, without being an expert in online advertising or without having had many commercial premises before
There are three key skills to be able to start your own business without having technical knowledge as an exclusive requirement:
1. Knowing How To Learn: nobody knows everything, and nobody has to know everything. Each person is unique; each of us is very good at something and not so good at other things. But we can all learn anything. That you have not studied something in the University does not mean that you cannot learn it, doing a course, asking those who know more, or with the simple and powerful help of Google.
2. Delegate: some things should be delegated. If you are not an expert in graphic design, you can delegate the graphic design work that would take a month to learn, to a person who can do it in two hours. Sometimes it is convenient to make the investment and delegate a job, to be able to use that week in tasks that it is essential that you do them yourself, tasks that are central to the business.
3. Work As a Team: always, but always, teamwork is worth gold. If you have a team with which to work and complement you, you can obtain more achievements than anyone and complement what everyone knows. At shoppiko.com, we are a team with different looks and abilities, and we organize ourselves to make the most of each one's talents. Thus, we all learn new things permanently but we optimize the time when each one is in charge of what they can do best and what they know best.
Starting an online business from scratch without money doesn't have to be hard, we believe with the tips you now have at your disposal, you will be able to run with it and succeed.
Learn More :
With the potential that e-commerce industry carries, it has become one of the most lucrative businesses. The eCommerce industry is expected to reach at least $6.5 trillion in 2023.
eCommerce has gained its popularity for a couple of years ago and is currently one of business model that attracts a lot of people. There are many reasons for it, but mainly because of the potential that eCommerce has over others.
To do business online you will need to start an online store. However to start online store might not be an easy task as many people would think. In fact, it’s such a terrifying thought particularly if you are not so adept with technology. Well, it’s not just you. There are few tips you can follow which might help you in building an online store.