If you have the patience and are looking to leverage the reach of the Internet to build a credible online business, but are short on finances, then we suggest that you go through these ideas by which you can start your own business without huge capital investment. None of the business shown here is graded in any order and you have to look at each of them carefully to figure out which one of these will suit you the best.
Five online businesses, which you can start with very low or no capital investment
1). Drop Shipping:
Drop shipping is a new innovative strategy through which companies can start their own online business with minimum investment. In layman’s term, drop shipping can be compared with a third-party model. In this kind of business model, you can open an online retail business displaying a large number of products. Any viewer can browse through your website or ecommerce app and select any product he/she finds interesting on your online store. The surprising aspect of this kind of business is that you don’t have to spend money on buying goods that you want to sell through your online retail store. All the goods displayed on your store are actually belongs to other websites. The moment, the viewer buys a product(s) from your online store, the actual product is shipped from the third-party eCommerce company and the money you got in exchange for that goods you will send it to that company after deducting your commission. It is very lucrative because you don’t have to spend any capital on inventory or spend huge amounts of money on logistics. In fact, you don’t even have to handle the products. All the products are shipped directly from the third party warehouses.
All you need to do is, develop a website or ecommerce application on which you can display and sell products. Nowadays, people prefer to shop through a mobile app rather than website. If you want to develop an eCommerce app then contact Guru Technolabs – #1 ecommerce app development company. They will take care of everything i.e from idea to launch, maintain and market the application.
2). Blogging:
If you have a flair of writing interesting articles, then you can use this strength of yours to earn a healthy living by writing interesting blogs. To do this, first, you have to figure out what is your passion. It would be any subject under the sky like travel, food, fiction writing, any technical subjects like computers or others. Once you have identified the subject that interests you greatly, the next part is to regularly write content relating to that subject. While writing blogs, you must be conscious of two things; one, that the content is unique and the second is that it should be interesting to read. To do this you have to research extensively and then put your points in such a way that people not only like to read it, but also subscribe to the channel so that they can come for more. Once you have created a lot of followers, you can then leverage this to have a steady income for yourself. Many companies that are related to the industry or subject on which you write may get interested in placing an advertisement about their company so that they get a captive audience through your blogs. You can also use Google AdSense to earn some money as you will get a commission whenever one of your viewers clicks on an advertisement that is relevant to your subject.
3). Online videos:
YouTube is a goldmine for people who know how to create interesting videos and post them online. Every day, hundreds of thousands of videos are posted on YouTube and there are billions of people all over the world who go through many of these posts. If you are able to create an interesting video and post it on the YouTube channel, then it is very likely that you will get a lot of viewers (if it is interesting and advertised properly). We suggest that before posting the video you should monetise it, so that whenever a viewer clicks on the link, then you will be paid a fixed sum of money. If your channel is quite popular among the viewer and you have a wide subscriber base, then there are many companies related to your subject that will like to post their own advertisement on your channel. In this way, you can earn good amount of money. One thing you have to remember while following this strategy is that the video you are posting has some unique points and it is interesting to watch.
4). Affiliate marketing:
Affiliate marketing is very much like the drop shipping, but with one big difference. In affiliate marketing, every product displayed on your website or mobile app has a unique link that takes it to the website of your affiliate partner. Whenever a viewer of your website clicks on a product to buy it, then the links take that the viewer to the affiliate’s website and the sale is concluded their only. At the conclusion of the deal, you will get a percentage commission, which can vary from 5 to 20 per cent. Therefore, if we compare it to drop shipping, you will find that in this type of business model, you don’t have to look at the payment mode also but are only providing the links to the affiliate’s website. To make it economically viable, you first need to decide a niche market, then figure out which retail companies are selling the product in that niche market. You have to approach that retail site for an affiliate agreement. Once it is signed, then you can start this with business without investing anything.
5). Information Product:
People online are looking for easy to understand engaging tutorials. You can use this demand to build high-quality tutorials and then sell them online. For this, you have to do some research as to which subjects are attracting a huge amount of attention of the viewers online and then after doing comprehensive research, create a ‘how to’ tutorial that will explain to the viewer to do that thing in a step-by-step manner. Which will allow any online viewer to buy the product and get benefited by following that particular tutorial. You can monitor the buyers through your tutorial.
All these are excellent online business ideas that you can follow if you do not have enough capital to invest online. However, you should check the new trend and after thorough research adopt any one of these methods to have a lucrative income online.