Anyone can create a business online and make money from it. All you need is a computer.
You have the freedom to work as much or as little as you like, set a flexible schedule and live wherever you want.
Another good thing about an online business is that you don’t need a lot of capital to start. Some of them don’t require any capital at all.
Here are the top five ways to create an online business with little or no money.
With a drop shipping business model, small business owners don’t need to maintain an inventory or even deliver products. They get to eliminate the risk and financial cost of operating a warehouse.
You can sell products without manufacturing or storing them.
Your main job will be to advertise and market the business so you can boost sales. Once a customer makes an order, other people handle the rest of the process for you.
This is how the model works:
- You sign up as a seller on a platform like Etsy, eBay or Amazon and list your products.
- When a customer places an order, you buy the item from a wholesaler or manufacturer at a lower price. It is like forwarding your customer’s order to the manufacturer.
- The drop shipper will then send your customer the product.
The main challenge with this business is that you need to find a reliable drop shipper and the market is competitive.
This is another e-commerce model that does not require you to maintain an inventory.
First, you choose a profitable niche. Next, look for an affiliate partner that stocks products in that niche. CJ Affiliate by Conversant, Amazon.com and Clickbank.com are some of the widely known affiliate sites.
Once you get an affiliate partner, you can offer their products on your website or blog with a unique link.
When a potential customer clicks on the link, they will be directed to your partner’s cart for checkout. If they buy the product, you earn a commission.
Some services like WordPress and Blogger allow you to start a blog for free. The better option is to create your own site (hosting is not that expensive).
A blog does not have to be about written posts. You can share links, news, videos and photos. Anything in your niche can work.
The key point is to post content that is original and beneficial to your audience.
To make money with the blog, try the following:
- Google AdSense
- Blog ad networks
- Affiliate marketing
YouTube is a popular site and you can use it to make some money.
Create useful content in your favorite niche. Sign up and begin uploading videos. When you start getting viewers, enable monetization. Google will place ads in your videos.
You don’t have to sell a physical product.
Digital information products offer a quick and easy way to make some cash. Popular formats include:
- Text (like an eBook)
- Video (interviews, webinars, etc.)