You can start the journey on a small budget but you need
certain skills or qualification. The sector might depend on your education,
creative skill, critical thinking or physical labor.
To succeed you need to focus on a niche you are
passionate about and have the required skill. The niche should solve a problem,
provide a service or offer something innovative or unique. Some businesses
require both education and technical knowledge.
How
to Start a Business without Money
1. Provide
a Service
One of the easiest ways to earn capital with zero
investment is to sell your service. The service you offer depends on your level
of education, qualification or technical skill.
Some services require only physical labor or problem
solving. Services that require educational qualification include accounting, web
designing, electrical work, architectural designs or consultancy.
A person with
cognate experience can offer consultancy services to people in his industry and
area of specialization. Services that involve physical labor include gardening,
removal of construction waste, bricklaying, consignee, babysitting and other
related services.
2. Resell
Products
Another effective strategy if cash strapped is to sell
other peoples products. The internet has provided many ways to source or offer
products.
Affiliate
Marketing: Common strategies include becoming an affiliate and
providing a link to the product. The affiliate earns commission for every sale
from 5% to 10%.
To succeed the entrepreneur only needs to sign up select
products and add then to a blog or eCommerce site. High priced items attract
higher returns while lower priced items attract faster sales. So the best
technique is to offer both types in your virtual store.
Drop
Shipping: Taking affiliate marketing to the next level is drop
shipping. To use this method you need an
ecommerce store. You could build a free store by using a free host and add
items to the store.
The items could be sourced from china or any destination.
Then network with the supplier to provide shipment once an order is made.
The trick is to find low priced items and sell higher. The
difference in price and shipping costs is your profit. Some people have built
million dollar business using this simple formula.
Buy on
Sale Items: Another highly effective strategy is to
purchase unique items and sell online. This will require a small amount of
working capital.
You then go to flee markets, antique stores, garage sales
and thrift store to purchase items. The items are then displayed on online
marketplaces. If you have an eye for unique items the business could blossom
into a million dollar industry.
3. Use Job
boards
There are lots of job boards for professionals in
different fields. All you need to do is signup and offer your services to
interested persons.
The services could range from writing gigs, web
designing, social marketing and logo making. The service you offer depends on
your interests and proficiency. Top websites to signup with are Fiverr, Freelancer,
iwritter and Elance.
4. Start
a Blog
A simple solution to your problems is to start a blog.
You could purchase a domain name for as little as $5 and host plan for $35 to $100.
Alternately use a free host provider and a sub domain name.
Blogging requires original content, patience and proper
planning. The subject matter depends on your interest or education. Once your
blog has sufficient content monetize through third party advertisement, direct
ads, affiliate programs or sell products or services.
5. Master
the Art of Bargaining
There is a new program on digital channels about
bargaining. The duo starts out with basic items and bargain up to pricy items.
If you have bargain skills then bargain up items from
your home. Another reason to use this technique is to get serious discounts on
items of interest.
6. Get
Creative
An easy way to earn 3 to 4 times your investment is to
build something. If you have sewing skills and a machine taking dust why not
sew something.
Those with knitting skills could make sweaters or
something for babes. Carpentry skills focus on unique items or furniture while
a writer could create an eBook. You get the general idea!
More items to consider include lotions, wooden toys,
organic food and candles. There are many online marketplaces to list your items
such as Etsy, eBay, Bonanza.
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