4 Online Businesses to start with no Capital. But for the internet, the majority of the world’s population would have been jobless and bored. With an internet connection, you can achieve so much, including setting up online businesses that do not require capital.
All you need to get started is a good internet connection. And in some cases, a smartphone, tab, or a computer system.
You can live in any part of the world and do business online (No Capital) if connected to the internet. These businesses require no experience. All you need to succeed is an open mindset. This means you must be willing to learn as your business grows.
Although it has been argued that you cannot start any business without money, there are online businesses that cost nothing to set up. For example, if you require a blog to start an affiliate marketing business, you can set up a free blog. Better still, you can leverage sites like eBay and Amazon to see products.
Without further ado, let’s take a look at five businesses that you can set up with no Capital:
Drop Shipping is one of the viable online businesses you can set up. In dropshipping, the manufacturer of a product takes inventory and ships it to buyers on behalf of a drop shipper. However, the drop-shipper is responsible for marketing the product, and he is allowed to set his price.
You do not take care of the delivery or inventory, so there’s no risk and cost. You will not have to warehouse products or worry about sending them to customers’ doorsteps.
However, you must be able to target the right audience when marketing products. If you’re able to lure a potential buyer, the rest will be handled by the company.
To successfully drop-ship a product, you have to sign up with a company that takes care of drop shipping. The following is the start-to-finish process of drop shipping.
- Itemize products for sale on your website if you have one. If you do not own a website, you can use third-party sites like eBay, Etsy, or Amazon.
- If you have a customer interested in one of your listed products, you will purchase the product through a third-party company (usually a manufacturer, wholesale, or drop shipper). These products will be offered to you at a profitable price. You are just forwarding an item bought by your customer, and the process is automated.
- Your drop shipper ships the product to the customer. All you have done is display the product and set the price for a profit margin.
There is no limit to the number of products you can offer as a drop shipper. However, there are downsides. If your drop shipper doesn’t deliver as promised, you will not be trusted. You will also be blamed if the quality of the product does not meet the customer’s taste. In essence, you represent the manufacturer or wholesaler.
In addition, you will be wary of profit margins because of the competition. If you peck your products at higher prices than your competitors, chances are you will not retain your customers. You may not make enough money with the drop shipping business, but it is still an excellent passive income source.
To be unique, get your label for the products you sell.
- Requires little or no capital to start.
- You do not take or maintain inventory. So you won’t worry about warehousing products.
- It is possible to leverage existing customer bases.
- You are liable for drop shipping mistakes.
- The competition in this market is high.
- You have to sell tons of products to earn meaningfully.
2. Affiliate Marketing
Many people confuse affiliate marketing with drop shipping, but these two are very different. In affiliate marketing, you earn a commission for the sale of products and services. However, you are not required to maintain inventory of products here, and the shipping of products is also not your business.
Affiliate marketers pick a niche and sell the products related to that niche. For example, if you want to sell sports products, you should ensure your blog is strictly about sports. There are various affiliate sites like Clickbank.com, Amazon.com, and CJ Affiliate where digital products are sold.
Some of the big companies like Walmart run their affiliate program.
When you sign up with an affiliate marketing company, they will send you a link to display their products on your website. If the visitors to your website make a purchase, your commission will be saved and sent to you on their payday.
Commission on sale varies. This depends on the affiliate program and partner. You can get as little as 5% commission or as much as 50% commission; this depends on the program.
However, you have to market and advertise products like it is done in dropshipping. Marketing products involves writing about them on your blog, email marketing, or social media. The idea is for you to get them to use your link to buy products.
- Little capital is required. You may need to spend some money to get a blog.
- Hands-off business model
- You need to drive traffic to your website, or else you won’t make sales. Traffic guarantees sales.
- You need to do SEO on your blog to increase its reputation. This involves spending money.
3. Information Products
Selling digital information products is one of the thriving online businesses. Of course, this does not involve the sale of physical products, but it is a sure way to make money.
You can create information products in the form of audio, videos, and texts.
- Audio: A course, interview, teleconference, or spoken-word products.
- Video. A course, tutorial, recorded webinar, and so on.
- Text: A guide, ebook.
If your product isn’t engaging, you might not generate so many sales. You have to be creative to make money in this online business category. However, you can go to bed with your eyes closed if your products are unique and valuable.
- Passive income source.
- You can sell one product to so many people.
- Depending on how creative you are, your product can be relevant for a long time.
- Creating an engaging product takes time.
- Your product can become outdated at any time.
4. Online Video
Youtube is one of the online platforms for streaming videos. This social media platform is famous worldwide, and billions of people get to watch videos on this platform daily.
You can leverage YouTube to make money online. But, first, you need to create unique and relevant content for your audience. Ensure your content is engaging depending on your niche.
It could be a comedy, a tutorial, or anything that will inform, entertain or educate your audience. If people find your content interesting, they will subscribe to your page.
YouTube channel owners make money through ad revenue. The first step is to sign up on YouTube, create an account, and upload videos. The next step is to monetize YouTube settings – when you do this; you will be able to add Adsense to your videos. Then, you get paid when viewers or subscribers click on those ads.
YouTube channel owners also make money via paid sponsorships. Companies approach those who have huge followership to promote their brands.
Follow these tips if you want to create great videos for YouTube.
- Ensure you have good lighting when using your smartphone or video camera to make videos
- The audio must be clear as well. It must be void of air conditioning hum or noise.
- Employ simple editing software like iMovie.
To get people to subscribe to your channel, ensure your video is simple and informative.
You can share your videos on Tiktok, Instagram, and Facebook and use a link to redirect your followers to your channel.
- All you need to get started is a smartphone or a computer device (no capital).
- It is not restricted to any niche but porn.
- Creating unique content takes time and effort.
- It takes time to start making money.