Start an Internet Business without Capital
I often meet new Internet marketers on various forums and they aspire to earn the big bucks like some of the well-known personas out there, such as Yanik Silver and Bryan Kumar. However, most of these new marketers have only the slightest ideas on where to start, and a lot of them are not willing or able to invest a startup capital in their online business. However, it is almost impossible to start an Internet business without spending some money on basic infrastructure such as web hosting, domain names and so on. Hence, here is a rough guide on how to build an Internet business starting with $0.
The first and most important thing to do is to list out all your skills. What skills do you have? You may have picked up these skills through daily life (for example languages), through your job (hands-on knowledge on a specific niche) or from your hobbies (for example fishing). It is most vital to list down skills or knowledge that you have and might be in demand elsewhere. For example, you love fly-fishing and you do it every day after work. You may build your Internet business upon this: writing an instructional guide on fly-fishing, teaching people how to do it, etc. Best of all, you do not need to spend money to acquire this knowledge: you already have it.
So, the very first option, if you have no money to start off your online business, is to earn some capital using your already existing skills or knowledge. You can give tuition to students on your dominant subject in college, you can teach stuff about your hobby to people who are interested, you can write guides on knowledge or skills you picked up through experience and cannot be found in theoretical books.
Okay, let’s say if you just can’t think of any skills or knowledge that people might be interested in. Then, it’s most important that you locate a workable business model and focus on that alone. You can obtain almost everything you need through bartering, web hosting, domain name or credit card processing, to name a few in exchange for your product (if you own one) or services like copywriting, ghostwriting and website designs. There is always some mundane job that people don’t want to do, and you can do that for those people in exchange for things you need. You just need to ask for it!
Outsource And Start an Internet Business
An online business consists of many essential components: website design, product creation, payment processing, salesletter, affiliate programs and so on. How about coupling that with sales and advert tracking?
When a lot of Internet marketers start out with their small home based businesses, they have totally no idea that their businesses could grow into “something that huge”. One-man eBay stores grow into full-fledged online shops run by a team of dedicated salespersons, logistics and customer support personnel. At the end, you can never manage every little aspect of your business when it grows to a certain extent, and that is when outsourcing comes in handy.
However, care must be taken to choose the right people to outsource your tasks and equal detail must be paid attention to to provide the best working environment for greatest productivity. The tasks you should outsource to people are those mundane and repetitive jobs like answering emails, keeping track of stocks and sales figures and so on. This ensures that while you hand some of your responsibilities to other people, they have the least chances of screwing up because the jobs they are handed are easy and straightforward. In contrast, never let others make decisions that will greatly affect your business if you do not want to risk losing your business overnight.
While you have to hire people on wages for some jobs such as book keeping, some jobs can also be accomplished by outsourcing to freelancers. For examples, you can get ghostwriters to write good content for your website and you can get freelance designers to spice up your merchant site. You do not need to hire these people on a regular wage because once their job is done, they do not have much follow up work to do for your business. A good resource for freelancers would be www.elance.com and www.rentacoder.com, where freelancers and buyers have transactions on a per job basis.
When your business reaches a certain extent, you will start to find it hard to keep track of everything and this means time to outsource. Think of it this way: you may lose a little money to hire other people to do some of your daily tasks, but you earn more money from the increased productivity.