Ideas for Starting an Online Business That Does Not Cost a Fortune!

Are you an entrepreneur trapped in a traditional 9 to 5 job? If so, you must have thought about quitting and starting your own business many times, but the lack of funds has always kept you from taking that step. If your story is similar to this, you can always consider starting an online venture. Unlike most traditional businesses, online companies involve little to no setup costs. You can use your savings or get an instant loan to fund your venture. Though quick business loans are rarely available through banks, online lenders and NBFCs are now offering instant loans for online businesses.

All you have to do is decide what you want to do and strategize a proper plan to move forward. If you are lacking business ideas, here are a few that will get you started. You can start these online businesses even if you have a low budget.

Start an online marketing or SEO company

If you are an online marketer or SEO professional, you already know the potential this industry holds. Every business that has an online presence wants to appear on top of Google’s organic search results. Achieving high organic ranking without SEO or online marketing is almost impossible. With the rapid expansion and growth of online businesses, the demand for good search engine optimisation will only continue to increase. If you have the right knowledge and skills, you can start an online marketing or SEO business with very little investment. In the beginning, all you would need is a computer, internet connection and a company website.

Become a viral video creator

Videos are the most popular and highly consumed forms of content online. From YouTube and Facebook to even Instagram, videos are everywhere! From funny and entertaining to educational and informative, video content has a wide range. When done right, a good video can reach the masses and become viral in a matter of hours! Seeing this massive popularity and demand for videos, various media companies are now looking for viral video creators. If you have a natural talent for creating videos that draw eyeballs, you may start doing it professionally. Even if you choose to make videos for others, you can earn a handsome amount from your clients!

Start a dropshipping business

Even though it is a relatively new term, dropshipping is not necessarily a new concept. It is a lot like flipping items (buying something at a lower price and selling it on eBay at a profit) but at a larger scale. Here, you set up a store on a platform such as Shopify, which offers way better customization options than eBay. You can then sell items through this store. However, the best part is that there is no inventory! You do not have to keep the products in your possession. The idea here is that you buy the item (often in bulk) directly from the wholesaler. You then sell the items at a higher price for profit.

Now, it may not be as simple as it sounds. The biggest challenge is to get customers to your store, but as many sellers would confirm, it is doable. To succeed, you would need to pick the right products that sell well, and you would also have to learn the tricks of paid advertising. Once you master these two, you should be able to make a great income by connecting wholesalers with customers.

Become an online business coach

If you are a professional coach or have some experience in business coaching, you can offer a valuable service online. Entrepreneurs are always seeking guidance from experts who can provide them with objective solutions. If you are a problem-solver and have impressive business acumen, you can try and provide business coaching online. There are many ways to provide coaching to other entrepreneurs and business owners. You can either provide one-on-one coaching or you may host workshops, trainings or seminars. Private coaching is certainly more lucrative, but if you manage to get a sizeable following, you may be able to make a great income through seminars and workshops as well.

Is it a profitable business?

Starting a business can be stressful and nerve-racking, especially if you are doing it for the first time. It is also natural for you to be sceptical about the future of your career. However, having proper research and information about the venture should ease out some of your fears. Entrepreneurship has both attracted and intimidated people for generations. Its highs and lows are often talked about. However, online businesses are far less risky. Though you may find intense competition, there is room for success as well. Much like traditional businesses, you may have to scan the market and see if there is a need for what you are offering.

Depending on what you choose to do and the particular nature of the industry, the business models can vary wildly. The profit you generate will certainly depend on your business model. On the other hand, you should create your business model depending on your aspirations and desire to take risks. Regardless of the specific business model, an online business can help you make a decent income through Pay Per View, Pay Per Click, Affiliate Marketing, and Selling Services. If you wish to set a vision for the future, aim at expanding your business by exploring other avenues of making money. On the other hand, your income will know no bounds if you manage to become a influencer in the industry.

Wrapping up

So, if you have decided to start an online business, these are some of the best ideas that you can explore. These low-cost business ideas are also easy to fulfil. Even if you do not have the money in your savings account, you can get a quick online loan through online lenders and NBFCs. Getting these loans has now become fairly easy. You can also get paperless instant loans with fast processing and approval. However, for the best results, you should go in with a proper business plan.

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