Nowadays starting a business is simple. Don’t get me wrong: It is simple, it’s just not easy. In India, I hear about almost 100 new startups in online industry every month. So, it is no wonder many people are also looking to make their ideas a reality. But this is business and you need money. What if you don’t have it?
Well, there are still many ways, thanks to the internet, with which you can start your business with little money. Yes, little money, not ‘no money’. Because no matter which online business you start, you’ll need a computer, internet connection and a quiet place to work at least.
I can sum up everything I’m going to say in this article in 3 simple points-
- Start with freelancing
- Sell something unique on online marketplaces
- Be a reseller of an online service or product
Here is what I’ve learned by doing all of the 3 above and what I think would be the best way for you to start your online business with low investment-
1. Start with freelancing
I think this is the most popular way to get started as your own business owner. If you look at the sites like Fiverr, Upwork and PeoplePerHour, you’ll get a clear idea of how this works.
Freelancing means you sell your skill of doing something which is generally digitally delivered. Let’s say you have a degree in English language, then you can write articles for your clients. If you are a web developer, then you can develop websites. The work may be the same as you would have done on a daily job, but here the tasks are short term and usually simpler. That’s why they are called ‘gigs’. You may be writing only a few articles for a particular client and then maybe a few articles for another client. You can do freelancing for almost any service possible but most successful categories are website/app development, content writing, graphics designing and digital marketing. As you can see, these are all served digitally. The benefit of working remotely is what makes freelancing viable and successful.
And now the point of this article- You can start freelancing without any major investment. Just sign up on freelancing websites or create your own website using free tools such as WordPress or Wix and your freelancing business is running.
Is freelancing for you?
If you’re good at something and have the necessary knowledge of how to communicate with clients and work productively- yes!
But remember- Even though registering on the freelancing websites or creating your own website is free, getting work is not a piece of cake. No matter how skilled you are, you’ll have to learn how to win clients, deliver quality and get recurring work. For your freelancing business to be successful in the long term, you must up your game continuously.
2. Sell something unique on online marketplaces
I’m sure you would have heard of eBay and Etsy. With these websites, you can sell any physical product that you have or make.
This model is not exactly C2C (customer to customer selling), but I think this is close to that. With eBay or Etsy, you can literally encash your hobby.
- Love painting? Then paint and sell your paintings online.
- Love knitting? Sell your crochets online.
- Have any other skill with which you can make creative products? Sell them online.
This is how simple the system is. These websites give you the power to sell anything that can sell. And trust me, it is working. I’ve seen people making decent money by selling the products they love making. Especially on Etsy, you can find hundreds of creative individuals who are creating wonderful pieces of art and making good money out of them.
Also, there are many more websites beyond the big ones which can help you sell products in your local area or the world at large. A quick Google search can help.
Is selling products on online marketplaces for you?
If you have some creative skill with which you can create products which are usually not available with big brands- yes.
But remember- You must focus on the USP of your products. Because if your products can be copied easily, they will be copied. That’s how the fast moving world works today. To make your online selling business successful in the long term, you must think of the new ways of keeping your products creative and competitive, as your market develops.
3. Be a reseller of an online service or product
Reselling is also a big thing. If you don’t think that you have a skill for freelancing or don’t want to make something, try reselling someone else’s products or services. As all companies online are looking for more sales, the majority of sellers offer reselling programmes where you can resell their products and services to earn money. Being an affiliate is a bit different than being a reseller, but I’ve considered both of them in this point.
Reselling means you resell the services of a provider to your contacts showing as if you’re selling those services yourself. You can charge whatever amount you want to your clients, and you pay only the decided price to the provider. For example, you can resell Socinova‘s services to your contacts and we’ll act as a white label provider to your clients. Reselling physical products is also called ‘drop-shipping’.
Being an affiliate means you advertise a particular seller’s goods or services to your clients, and when the seller sells something to the person who was referred by you, you get a commission from the seller. Generally, the commission percentage is 10%, but it can be more too. The best example of this would be Amazon’s Affiliate Programme.
And most of the reseller programmes are free to register with no monthly fees. You earn when you make a sale. And for that, you’ll need to have your own ways of selling. Maybe through your blog, personal contacts or some other way.
Is being a reseller of an online product or service for you?
I think this is the toughest one from the list. But, after all, it depends on you. Starting a reselling business is probably the simplest as all you have to do is set up a virtual store or website and start advertising, but it can be hard in the long term to sustain.
The solution for this would be reselling multiple services and products.
From my experience, as I’ve tried all three, freelancing is the best option. Because it can be done remotely, requires fewer resources and is going to be here for long term. Also, as you develop skills with freelancing, maybe soon you can convert your freelancing business into a company and build a successful brand also. That’s what I did.
But don’t take my word as a rule. You know best about your capabilities and interests, so go with them. Because with little money or more, after all, it’s your skills that will make your business successful.
Ved for you
