So, you have a great idea for an online business, but you don’t have a lot of free cash to get it started? No worries. It is perfectly possible to start an online business without spending thousands of dollars. In fact, you can definitely start one for under $1,000, and sometimes even less than that! Here are some tips:
Make a Plan
One of the biggest factors of creating an online business on the cheap is to make a plan. The best part about this is it’s totally free! What are some of the things that you should include in your plan?
First, of course, you have to create a name for your business. You also have to decide if you are going to be the only owner or are you going to have a partner or investors? What type of business is this going to be? How is the market for this industry? Is there a lot of competition? Customers? How will you generate your sales? There are several free guides out there to help you create a business plan, so make sure to look into that.
Get a Website
With an online business, you certainly have to have a website. But, it goes a bit beyond that. For example, in addition to a website/domain name, you also need an email address. Web hosting and design is also a factor. You can usually do all of this for a couple of hundred dollars a year.
Now, even if you have an online business, you still need a business address. Sure, this can be your home address, but it projects a better image if you have a professional address. Additionally, if you will ever meet with clients, you probably don’t want them coming to your home. So, you should consider a fractional office service.
Basically, you can pay a fee and use different aspects of the service. For instance, you can get a business address, internet access, shared office space, the use of a conference room, etc. This usually costs only a couple of hundred dollars a year.
No matter where you decide you want to work, either at home or in a shared office space, you definitely need business cards. Even though business cards might seem dated in the internet age, they are still used all of the time. The nice thing about this is that business cards are pretty cheap, and you can order them online. You can also find business cards at retailers like Staples or Office Depot.
Social Media Accounts
Another thing that you want to make sure you do to start a business is to have active social media accounts. LinkedIn, for instance, is a must. It helps you connect with other business people and thanks to blogs and articles, it’s a great resource for people who are new to business ownership. Facebook is great for getting the word out about your business, too. Don’t be afraid to use your existing Facebook friends to promote your business, too. For instance, ask them to “like” your business page.
You might have heard that you have to spend money to make money, and when it comes to starting a business, this is absolutely true. Fortunately, though, as you can see, you don’t have to spend a fortune getting started, and you certainly can do it for less than $1,000.