What is the best way to set up an online business from home and without any money? Can it even be done?
Yes, in a nutshell. Online businesses made thousands of dollars in revenue with no money when they started. There are many of them that have no physical presence but are operated remotely from home. Starting an online business does not require prior knowledge of business management. A brick-and-mortar store is much different from managing an online business.
Over the years, I’ve had success and failure, but most importantly, I created a system that newcomers can use and increase their chances of setting up an online business on the first attempt.
Throughout this comprehensive guide, I will show you how to start your own business online from scratch and from the comfort of your home.
There is no such thing as a free lunch for starting an online business, but you don’t need to spend a fortune to get a business up and running, and I’ll give you all the details.
Due to the fact that you’re already convinced that you want to become an online entrepreneur (this is why you’re reading this article now), I have added the actionable steps first but you’ll also find information on how online businesses work at the end of this guide.
Are you interested in starting an online business?
You can safely decide if running an online business is right for you now that you understand what it takes to start and promote an online business.
To help you determine which option is right for you, here are some additional pointers:
A majority of the time you spend running an online business is spent in front of a computer.
Depending on the individual, this can be fun or overwhelming. It’s not the right business for you if you can’t stay put for a long period of time and prefer to work outside.
Online businesses are lonely affairs. Home-based businesses can be great, but not everyone is suited for it.
Skype sessions and virtual meetings can’t replace inter-personal communication, so if you are someone who needs in-person interaction, the online business model may not be the best one for you.
You cannot imagine how fierce competition can be. Online businesses can be started by anyone. There are billions of people on this planet as a result.
There are about 2 billion websites on the Internet today, of which 3 million are eCommerce. Of course, not everyone will do it for business purposes, but it’s a fact that there are around 2 billion websites today.
Although you may not have to compete with all of them, you will not be alone in your niche.
You can run a profitable online business if you do things properly and in order. However, owning your own business is a great experience.
Starting a business online costs how much?
A small business online can cost as little as a few dollars or as much as hundreds of thousands of dollars. Your business type determines the cost.
Here are a few examples:
- It costs $15 per year to register a domain name for your business (some hosting providers provide this for free).
- WordPress blogs can be set up for as little as $2.75 per month including domain registration.
- Professionnal WordPress themes are around $100.
- The cost to set up a self-hosted eCommerce business (WordPress or WooCommerce) – The cost is usually $100 for a theme or about 2000-$10000 for a custom-built website.
- Installing and running an eCommerce business on a self-hosted platform (Shopify) can cost between $29 and $299 per month.
The initial cost of starting an online business may not be affordable for everyone, but it is affordable for everyone.
Can you make money online?
The short answer is between zero and millions of dollars per year. There are many factors to consider, including the type of business, the business model, the products, and the profitability.
Here are some examples to get you started:
- I make money with AdSense on some of my sites.
- In my digital marketing and SEO courses on this website, I make money by selling digital marketing and SEO services.
- Online courses and WordPress Plugins are Yoast’s main sources of income.
- His SaaS companies generate millions of dollars per year for him.
- Affiliate marketing and online courses are how Patt Flynn makes money
- Most of my clients make money through eCommerce Stores that sell physical products.
Online businesses offer endless opportunities for making money.