Let me start by rephrasing, everything costs something. There is a small investment you will need to make when starting an online business – domains, hosting and affiliate programs all cost something. You can make money online, if you have a plan, and follow it through.
But this guide will show you have to do it for as little money as possible. Once the set up costs are out of the way, it will show you how to continue to build and grow you business for no money. Start small, and grow your income.
Step 1 – Pick Your Niche or Product
Do you already have your own product? Are you taking your offline business, and moving it online to get a wider audience and increase sales? Or are you completely new to the online business environment and don’t know where to start.
Knowing your product will more than likely guide your niche, and vice versa. If you have a product in mind google will be your greatest friend. What is your competition doing? Searching your product or niche can help give you a head start in your planning.
Doing your research will not only help identify what you can sell, but it will also guide you to what skills you need and lack. Different products & niche groups respond differently to various advertising channels. Which one are your customers in?
Don’t have a product? That’s easy too, then its about your niche. Clothing? Digital products? Specialized technology hardware? There are various ways to sell other peoples products. Or your “own” product without having any stock. Many entrepreneurs have made a lot of money with drop shipping and eBay businesses.
Affiliate marketing is also a great way to dip your toes in the water as it solves to problems at once. It gives you a product to sell where you can sell commission, and if you pick the correct one you will be given access to all the resources needed to effectively market your product.
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Step 2 – Refine Your Skills
So you know nothing about websites? No knowledge of marketing or social media? Basically every single skill you need to start an online business? Well how do you expect to sell anything then? It’s like trying to be a race car driver when you cant even drive.
Instead of asking “How can I make money online”, instead you should ask “What skills can I learn or already have can make me money online?”
Before you do anything, make a list of what skills you will need to make money online, it will more than likely include;
- Website creation & knowledge
- Knowledge of appropriate plugins required for a website
- What social media accounts will you use & how to set them up
- How does SEO work & how do you start ranking in searches
- Best ways to market your product, and channels to use
All of this can be learnt for free. There are many articles in my Tips & Tricks section, and over time all the resources you will need for the above will be there. Or alternatively you are committed and want to learn from the experts you can purchase a training package. ClickFunnels is the leading online marketing program online, if you are in the affiliate marketing space, I’m sure you have heard from it by now. They have an exceptional training program with many different targeted courses. You can sign up for FREE 14 day trial of ClickFunnels here
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Step 3 – Create Your Business Plan
Great you have finished your training courses, free online YouTube tutorials, competitor research. You know what product you want to sell, and how you are going to sell it? Time to start selling right? Throw a website together and pop the product on it? Wrong.
Yes it’s almost time, but a lot of novices waste a lot of time and money simply through over eagerness. Without planning correctly you will more than likely waste money on products, or tools you don’t need. On ads that are not effective, and building the wrong marketing channels.
Before you start selling you should at a very minimum have the answers to the below;
- Who are you customers? Are they even online?
- What channels do they frequent the most? YouTube? Twitter? Facebook?
- Will your website be a sales funnel? Product page and shopping cart? A wonderfully informative blog, that teaches others how to make money online?
- What will your domain name be? And who will host your website and set it up?
- Who is your mentor? A mentor can be a person. It can be an information site, or a video blog. You should be constantly learning and developing your skills even after you start selling your product.
- How will you get your traffic?
Step 4 – Start Marketing
We have all our answers now. Business plan is clear, marketing & traffic strategies developed, its time to press GO.
You need to get your product, website or link out there. It’s time to get traffic, the more traffic you have the more chance you have of closing a sale. Ensuring your posts, content and ads have maximum visibility will dive you sales.
Consistently serving you content to your customers is often the number 1 failing of new start up online businesses. Sales often take some time to flow through, and the excitement fails leading to a drop in activity. If you have come this far you need to commit to your business.
In my plan I budgeted a specific amount of time every day that was reasonable, even if the stresses of life peaked. On days where I had extra free time I would develop content for the times I didn’t have any. If you stick to your plan, consistently push your content out the sales will follow.
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Step 5 – Wait…And Wait For The Money To Come In
I wrote step 5 in jest, but in reality, it is true. If you speed through steps 1 – 4, you will be waiting a long time, and the money won’t come in. But if you take your time, you are consistent and keep at it, over time you will grow a network of customers to market too.
Just like Google, Amazon and Facebook all started with 1 person, you too need to start somewhere. Build your subscriber list if you are collecting emails. Grow your follower base on social media if that’s your strategy. The more people you can reach, the more sales you will get.
As you grow, it builds growth. What I mean is when you have 40,000 people seeing you content, that’s 40,000 opportunities for them to share it to someone else. Your growth will rapidly increase as you start to see results. Celebrate the first sale. And the 1000th. Throw a party when you earning more than your day job and this is no longer a side hustle.
Momentum builds motivation. Celebrate all your wins, and keep your end goal in mind.
BONUS Step 6 – Now You Have Money Invest In Yourself
You should never stop learning. When you begin your business money is tight, you need to make education decisions on how to spend your money and often pass up development opportunities for other tools.
Now you have money, and your income is steady, take the time to invest in yourself. You can always do better. Earning $200k a year now? Why arn’t you earning $500k – what is the difference between you and someone earning that. Continuously reassess your dream and surround yourself with people better than you. Earning more than you and soak up all their knowledge.
Subscribe to podcasts, go to seminars, invest in training courses and look for new opportunities.
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