Over the years, the internet has made a lot of things easy for mankind. It’s gradually becoming a small world of its own with alarge number of inhabitants. The idea of starting an online business is an awesome one because it has many benefits. It even gets better when you realize that you don’t need a physical shop to venture into this journey. We’re going to look closely at all the benefits of how to start a home business for free and see if it is a fit for you.
All you require is a little money, an internet-enabled computer, tablet or phone, and an internet connection. You never have to worry about renewing rent for your shop. And another fantastic thing is you no longer have to sit in your shop waiting for customers. Instead, you’d be doing everything from one screen! So, who are the people that can venture into an online business?
Categories of People Who Can Venture into an Online Business
People who are new to the business world
This category is for people who know next to nothing about business. It could be retirees who decide to use their pension to start a business, a young mum, an entrepreneur woman or a hard-working man wanting to get out of the 9 to 5 grind, or even a teenager.
Basically, anyone can start an online business because it is all about learning and knowledge. The internet has blasted all the old obstacles away, so age, gender, and experience don’t hold anyone back now.
You no longer need transport to your shop’s location and can work from home or even on holiday. You get to pull the strings virtually online from anywhere.
People with a business
Now, these are people who are not new to business in general. These categories of people have their physical shops but are looking to take their business online for more customers.
Now imagine you have a physical shop at a location! The people who will patronize you mostly are the people who know where your shop is located. So, it means in terms of having physical shops, location matters. I can bet you that a lot of businesses have been affected, and are still getting affected by location.
But with an online business, none of these problems exist. People can patronize your business from the world over and nothing limits the number of your customers, ever.
People who hate their jobs
Ever heard anyone tell you that they are not happy with their job? It could be a neighbor or family member. They tell you that they’re making plans to go into business. Part of their plans usually entails saving up some money from their previous job. It is this money that they eventually use as capital for the business.
It’s no secret that not many people are happy with their jobs. This could be the work environment, the colleagues, or even the pay itself. No one wants to work for long hours and get poorly paid. But creating enough capital to get started has always held people back, but not anymore.
Starting a Free Online Business
Before you even conceive the thought of having an online business, you need to think about some things. I might as well just dive straight into telling you about some business ideas. But, I’d be doing you a great disservice if I don’t remind you of these key things.
Believe it or not, you need to consider these things strongly. If you have to venture into business, then you must know a few key things that’ll help keep your business afloat.
Things to Consider Before Starting
- Do you really want a virtual business?
This is a very important point to consider because not everyone wants to sit all day behind a screen. Another thing is that some people prefer to go to their physical shops where they can see and interact with people. Yes, you are going to have the flexibility to work when and where you want but it can be a solitary time.
Plus, there’s this feeling of gratification when you know you’re stepping out of your home to go do business. To some people, this feeling mimics the feeling of going to the office in terms of white-collar jobs. So, the physical shop is like an office to them.
- Time and Commitment
This is very important because you need to be sure you’re up for it. If you intend to run an online business, then you have to learn about the tools. That way, you can keep tabs on the progress of your business and even promote your business.
So, it comes down to how much time you’re willing to spend to grow your business. Your potential customers may not always be online but you have to be. So, you have to monitor your target audience to see what time of the day they’re most active. What they read, what questions they ask, and how you can help them.
Are you the type of person that is quick to anger? Well, you have to understand that as much as your business can flourish online, it can also crash very quickly.
Going online means you’ll meet lots of people with different morals and backgrounds. So, you have to brace yourself for people who are problematic. Anybody can make negative comments about a product you’re promoting.
So, being warm, receptive, and tolerant will help douse all the tension that comes with dealing with problematic people. Of course, you can also put offenders in their place but it’s Paramount to regulate the way you react.
That way, you don’t come across as arrogant. This is because businesses suffer criticisms and that’s bound to happen to any business.
Setting up Your Online Business
Formulating a Business Idea
It’s vital to go with a business idea that you’re comfortable with. Of course, there’s always that temptation to emulate your neighbor’s or friend’s business. But toeing this path will pose more problems to you than you can imagine.
So, you have to resist being a copycat and offer something unique to you. Whether your business will have a great chance at success depends on your passion and interest in running the business. That way, it’ll be an enjoyable journey for you.
For some people, they spend time learning a skill before going into business. But for others, the reverse is the case. So, all this depends obviously on the availability of your skills and resources.
Therefore, while you’re brainstorming and itemizing your ideas, do not underrate any idea at the first glance. This is because, in business, anything goes when it comes to ideas.
So, however odd or obscure that idea may be, don’t underrate because it could develop into a successful business venture.
After itemizing your ideas, you can go ahead to conduct extensive research on each of the ideas. This will help you determine which would be the most viable and affordable idea. Aim for a popular niche with lots of products to promote that you are interested in.
Is your Idea Marketable?
Demand is an important aspect of the business. As the popular saying goes, “demand controls supply”. This is simply because, as a service provider, you have to provide what the customers want the most. So, as much as passion and interest play a vital role, demand is extremely important as well.
Therefore, whatever idea you decide to settle with, has to be marketable and in high demand. Failure to ensure this will have you running around in circles because that idea will never develop into a success.
Find keywords that are relevant to your business
After you must have decided on an idea, you have to begin developing that idea around relevant keywords. These keywords are important because it is through them that your customers will find what you’re offering. These keywords have to be relevant to the purpose of their search and to what you are offering. e.g. Which are the best running shoes? Which road bike is best for dirt tracks, etc.
So, start by itemizing phrases and words that relate to your business. That way, people will use these terms to find your business. So, after extracting the relevant keywords, next, make use of a keyword research tool to analyze each of the keywords.
The reason you’re making use of a research tool is to see how these keywords compete and how often people use them to make searches. It could be on a monthly, weekly, or daily basis. But keep in mind that your goal is to find low competition keywords that rank highly.
This is important because you want to avoid using keywords that other big businesses use.
Home Business Ideas that You Can Start Online
There are many business ideas that you can venture into from the comfort of your home. Some of them require you to work round the clock, while others don’t. Generally, going into business and flourishing is not an easy feat to achieve.
This is because there are many obstacles you’ll face along the course of your journey. Some of these obstacles will be based on how fast you can learn about the tools and design of building a website. I can show you how and it’s free to get started, you can read about my #1 recommendation here.
Below are some business ideas you can delve into.
Are you skilled at teaching? Why not take it to the next level by taking your craft online instead of making forum posts? Skills that are in high demand abound with a large audience who are looking to draw from your pool of knowledge.
It could be English Language tutoring, fixing and repairs tutoring, or even routine hacks at home.
Online teaching lets you have ample time for yourself as you don’t get swamped with work regularly. It even gets better when you realize you can do it from the comfort of your home. It could be pre-recorded lectures or a live one.
So, for instance, since people obviously have a penchant for live activities online, you can decide to offer live tutoring at a premium rate. That way, you can put your recorded lectures for sale at affordable rates.
In addition, you also get to choose how many people you want to teach. It could be a large number or a small group and then you decide how frequently you’d be teaching. It could be in a week, a month, or a day.
Buy Products in bulk and sell online
One of the most common methods of buying and selling entails buying large numbers of an item and selling items at a profit. If you happen to travel abroad, be on the lookout for unique products with high prospects of being in demand. What makes these products unique is that they are rare in other markets.
It’s also advisable to target products that can be stored easily and shipped. After the acquisition, you can then go online to market the products. For instance, you can target products like trendy shoes, clothes, and bags for women and children.
These goods will be marketable because women care about their looks, and they care about how their kids look as well.
Venture into dropshipping
The concept of dropshipping involves dealing with a third party. You do the marketing of the product and the third party takes care of production, storage, and shipping.
The third-party element in dropshipping is known as the supplier while you will be the promoter or distributor in this case. The third party delivers the product from them directly to the customer.
For dropshipping to work, you need a supplier. This supplier could be one you have abroad or a local one. In addition, the supplier should be a trustworthy person that you can rely on to deliver goods for you on a regular basis. You must understand that these qualities apply to you as well, or risk sinking your business due to a bad reputation.
There are applications that you can use to conduct your dropshipping business. These apps connect you to suppliers who in turn distribute or deliver orders to your customers.
Therefore, in this dropshipping business, you’re more of a promoter for the supplier through your online shop. That way, you get paid for your time and cost incurred on marketing the products.
This is a marketing model that lets you earn commissions directly or on a recurring basis for referring someone. You never touch the stock or have to deliver an order.
All you need to do is join some popular affiliate networks such as CJ Affiliate, Amazon Associate, ClickBank, and many more.
Before you venture into any business, it’s important to know what you’re capable of offering. The same idea applies when you want to start an online business. So, you begin by thinking about the things that interest you and how passionate you are about them.
An online business offers you a whole lot. What’s more, is that you have ample time for yourself and you get to boss yourself around. With an online business, you don’t have to worry about squeezing your transport costs out of your salary.
I know a lot of people who incur up to 30 percent of their monthly pay on transportation costs. Now, that’s a huge loss, wouldn’t you say? So, you’ve got to take that bold step and emancipate yourself from the shackles of low-paying jobs.
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