If you are serious on earning money online from your business, then you must invest money in it. This is a no brainer, if you want to make money, you have to invest money. You have to invest money on these things,
- Website domain & Hosting
- Website design and content creation
- Legal formalities
- Marketing & Advertising
There could be even more steps and costs associated with your business but one thing is sure, you need money to start and manage your biz online! Hey I said it’s easy but didn’t say it doesn’t costs!
But what if you are starting with zero?
Are you looking for investors to put money on your idea? Well that won’t work, at least on this stage where you don’t have any money. This is why you should “self finance” your business. I’m showing you how,
Build up a saving
You need money for your business, so build up some savings for that. Estimate a budget on how much you want to spend to start your business. For an example, you want to start your business under $1,000. At the same time, you divide your budget into multiple steps like you need some money to setup a website; you have to run advertisements etc.
Work on a side business/ job
You need money for the biz, so let’s start working on another part time job or business. This way you can build your savings easily. You want to have a business online does not means you cannot work on something else.
Start working as a freelancer
This is one great tip, you work online to make money as a freelancer and then you invest the money back into your own business. There are businesses online that will need your expertise in their business. Another great thing of freelancing is, you can learn new things and technologies that those businesses are using to improve their business. You can also work as a freelancer even if you are running a business.
Make proper use of free services
Almost everything online is free. Use social media, where you can connect with your clients. MailChimp is a free service for email newsletters. You can use webly and freewebs to have free websites with hosting. With the help of free social media tools, you can promote your service for free and effectively.
You can take donations or small amounts of money from your friends to cover up your costs. I know you cannot start a business from donation money; but in business, every cent counts.
Use rebates, coupons and free vouchers
There are rebates on domains, web hosting and many online services. You can use coupon/ promo codes to get some small discounts on the services. Most web hosting services offer promotional advertisement coupons for adwords or facebook ads. With this, you can have free ads + get to try how it works.
Offer a service
You can offer a service online like consulting, coaching to make money. Your ultimate goal is to build funds for your business. If you offer a service that is related to your business, it will help you get new customers too.
Don’t turn down opportunities
I know you are self financing your business project but if you find any potential investors, don’t turn them down. You may get opportunities in many ways, such as one of your friend would like to introduce you with a potential business client, will you turn that down? You may get a review written about your site from another blog, that’s great too! You see, everything that you can get from your surroundings –is great!
Building a business is difficult and even more when you are short in money. It’s better to do it with your own money than putting someone else’s money in the table. And when you will have the business up and running, you will find potential investors willing to give the money in your hands.