You will learn how to start a business with no money in the 5 minutes that it will take you to read this post.
Are you are capable of creating your own business and sustaining yourself but you just need that first lift to be able to get yourself off the ground?
Have you scoured the net looking for ways to make that seed capital but all the articles you find give you an information that is as good as saying “Just do it” with no practical solutions on how to get it done?
If you answered yes to these to question then you have finally found the solution. Before the end of today you will be a freelancer and have earned your first dollar. At the least, you will have completed the first step to creating your business and be able to breathe a sigh of relief in knowing that you can finally start making progress.
Having been there myself, I know that a large number of those unemployed people are resourceful and have a plan to sustain themselves but the biggest obstacle is that you need money to make money.
Requirements (Hint: You Already Have Them)
I have also set this out so that it applies to anybody who is old enough to work, with no experience and qualifications.
Your background does not have to be the same as mine. Whether you are a student, a retiree with plenty of time on you hands, or even disabled, this guide will give you the information you need to do that. The only things you need to start a business that will make you an income are a device with online connectivity and a willingness to work hard at your goal.
If you are reading this then it is fair to assume that you have a connected device. The biggest limitations are out of the way and all that is required now is effort on your part. A little hard work hard over the short term so that you can establish a business that will pay you great rewards over the long term.
Before you get started
If you are starting from zero then I recommend that you do the main steps one at time. The effort and required complexity increases with each step, so take it step by step. I found that making my first dollar online gave me the confidence that what I was getting into was tangible and that motivation was priceless.
When you see that the first step works, it will give you confidence in the fact that the next step will work as well and give you the determination to work your way through the rest of the steps.
Step 1: Set up your payment method
The objective of every business is to make money so your first step is to make ensure you have a payment method. If you are only conducting business in your own country, then a business banking account is all you would need but you are going to be earning money from international companies so you need to have both the business banking account and a worldwide online payment system.
Step 2: Earn your first $100
The biggest hurdle for our entrepreneurs is to get the initial capital that is needed to get any business venture off the ground. It is true that you can’t do anything without money, even keeping a bank account open requires a monthly fee. So your first step is to make the money that you will require to maintain your business.
Thanks to the globalization brought about by the internet, there are enough job opportunities around that if you want a job you can have one within a day. The only barrier is what job you are willing to do. If you are starting at zero, a couple of options you have available are GPT sites which allow you to complete surveys and offers for payment.
Online Surveys and GPT Sites
Entry into online survey platforms and GPT sites is guaranteed. Just register and you are in.
You don’t need any qualification, skill or background to do this type of work. You only need to be able to operate a computer or a phone. If you are on this website reading this article, you qualify for GPT work. These jobs pay $2 – $4 an hour and you can make more than $150 a month working 1-2 hours every day.
You can read our reviews of the these two and other survey sites here.
Transcription and Data Entry
If you have good English skills and want work that is still easy to get into but pays more, the easiest job to get into is transcription. You can make more than $30 a day or even $1000 a month if you are skilled at this.
If you are new to transcription you can start at Scribie. They are more lenient, and give 10 chances to pass the admission test. If you are confident in your skills, you can go for Rev.com which pays more.
If you have skills or tertiary education then you can make even more money from online jobs such as essay writing and crowd-sourced jobs. The skills and education or not a necessity, though, but can be an added advantage if you have them.
Step 3: Choose your market
Income is the biggest obstacle of all and once you have that out of the way, you are able to start your business and maintain it.
Business is all about the exchange of something, whether a product or a service for payment. While you can decide to market anything of your choice, the best way is to choose something that you are passionate about and will be able to build knowledge about. Because your business is what you will spend a lot of your time on, you will eventually become an expert in whatever market you choose.
There is a market for everything you can think of so don’t concern yourself with whether you can sell it yet. That will happen as part of the process.
Choose your business model
Your business model is how you will make money from what it is you choose to focus the business on. There are various business models with a brief summary of possible models described below:
If you have a particular skill then this is the way that you can sell it. Unlike days gone past, freelancing does not require extensive networking to get your foot in the door. Whereas before you would need references and even door to door marketing of your skills, today there are skills marketplaces such as UpWork and Fiver that brings together freelancers and clients from all over the world.
If you are manufacturing a product of your own, or even reselling goods made by other people, an eCommerce website is the ideal way to go. For example, a few years ago I was selling Moringa, a health supplement that is becoming very popular through an online shop that I created through Shopify. The supplement was in high demand and not available in chain retail stores at yet so I would buy from an importer and resell at double the price.
Affiliate Marketing is one of the most popular ways to make money on the internet today. The way it works is that online shopping platforms such as Amazon and Apple have programmes where they reward you for referring people to buy products for them. When you are an affiliate you get an affiliate link that is specific to you. If somebody clicks that link and buys something that day, you will get a percentage of the money that they spent, even if it was not a product that you advertised.
An online shop is ideal if you intend to focus your efforts more on social media because it has greater margins on a smaller but focused group of buyers. Affiliate marketing on the other hand is ideal for when you have a website because the commissions are much smaller but with a website that is optimized for search engines such as google you will be marketing to a much larger group of people.
Digital Products and Services
Because we live in the information age, a lot of the services where you would have to consult someone can no be done online. You can no sell your knowledge to people. Digital products and services can vary from an ebook or manual, to delivering classes where you coach people with live video services.
Step 4: Create Your Website
A year ago I would have never imagined that I would have a website that served as the home for my business. You might also believe, like I did, that to have a website you need to have knowledge of software development and a whole range of complicated things.
I am pleased to tell you that creating a website is so easy that anybody who can use a computer can create one. You don’t need any programming knowledge at all to run a website. In fact, all it takes to build a very simple website is a few clicks and can be done in less than five minutes. Your website will serve as the portal through which you serve your information to the public.
Common platforms for websites are WordPress and whatever else is out there. For more information on how to build a website with easy, read the article here.
Step 5: Monetize your content
This why we are all here. It is how you will get money from your online business.
While this step used to be seen as intimidating, it is actually the easiest and will happen naturally if you did all of the prior steps properly. Making sales online does not mean that you have to sell anything directly to people. All you have to do is provide with people with information that they were looking for.
As part of that process you will suggest a product or a service that will help them to achieve what they were trying to achieve and when they do that to help themselves, you will be rewarded for the assistance you gave.
How I Did It
There is more than one way to skin a cat and there are many ways outside of what I have described to make money. But sometimes you want to know how the person you are listening did it. If you want the full story of my path you can read about it here.
The short version: I managed to escape get a start in onilne earning with transcription at Scribie where I was able to make $500 a month. Using additional sources, I was able to bring my earnings up to $1000 a month. I could not believe that I was making legitimate money from my room and researched ways of earning online further.
I came across My Number 1 Recommendation For Making Money Online and signed up for the free membership. I immediately got sucked in and when the trial membership was over I signed up for the year because I was sold on the training that I received. Fast forward 8 months and I am earning around $2000 a month from my online income sources with all that I have learned.
If want to learn how to create an online business, I highly recommend that you try the free membership. You can try it out and see if this is something you can do.
This 5 step process is a simplified version of the information but if you try the steps then it will work for you.
It’s That Simple
Follow these steps and you will have the proof that you need that you can start a business with no money. Within an hour you will have made your first dollar online. If you are determined, you can make your first $1000 by the end of the month.
Thank you for reading this article and I hope that you found it useful. If have questions or have your own tips to add, please drop them in the comments below.