If you have a business mind and are looking forward to opportunities to start your own business someday, we might have the right information for you!
Technically, people fail to start a business due to less investment or the constant fear of suffering from financial loss if things don’t turn out as expected. But, this is how business works; someday you might be hitting jackpots while the other day may be unfortunate.
What if you could start a business with no money at all?
Seems like squeezing water from a stone, right?
Interestingly, it's possible to establish a business with little to no investment at all and here’s how you can do that.
Starting an eCommerce store – Dropshipping
Let’s suppose that you’re a clever businessman and you choose to sell a product that is a basic human need and does not need to rely on heavy conditions, so you start a clothing line with no money.
While doing a basic marketing trend analysis for your product, you discover that people are highly attracted to customized designs. An idea pops up in your head and you choose to introduce custom hoodies to your store.
You are very good at promoting your business so let’s keep the marketing discussion for some other day. But, you suddenly realize that you have no money at all.
Here’s what you do:
1. You find partners, one of which agrees to sell you hoodies while the other offers easy and affordable custom printing on those hoodies.
2. You purchase one hoodie for $50 and get it printed for $20.
3. It cost you $70 in total but you sell the custom hoodie to your customer for $90 or more.
4. Congrats, you just earned a $20+ profit.
This is how dropshipping works! Easy right? You can Start Shopify T-shirt Business with the same strategy too!
If you’re still not sure, here’s another idea.
Selling Services
Considering that you badly want to start your own store but you need money for that, you can start by becoming a virtual assistant for someone else’s store.
What’s a virtual assistant?
A VA is like a manager. He finds a client who owns a store but has no idea how to make his business flourish. A VA on the other hand is a pro at handling an eCommerce store so the client hires him and he manages the store for him from A to Z.
Some responsibilities may include:
1. Product hunting
2. Processing orders and shipments
3. Inventory management
4. Managing exchange and return orders
5. Customer services
6. Creating press releases
7. Financial management
What are the benefits?
You become an expert every day with experience and are twice as likely to succeed when you start your own store.
An average VA earns approximately $500-1000 per month depending upon how rich his client is. While starting an Amazon wholesale business may need as less as $500.
Being a VA, you can start an agency, hire talented VAs, search for clients, sell services and earn a commission.
Not interested in becoming a VA?
We have other ideas for you too!
Selling services can include offering a variety of services including printing, repairing, software development, website development, SEO, digital marketing and supplying or connecting clients.
With this business, you can save a lot of investment and expand your online presence to earn quite a big fortune.
Product Hunting
Here’s another interesting thing!
Now that you have no money for starting an eCommerce store, we believe that you have done your research in marketing and are well aware of the importance of the perfect product to sell.
About 95% of people are unable to hunt for the right product. Therefore, people who are excellent product hunters are always in demand considering specific businesses like Amazon private label.
If you discover a product and you have a detailed report about how it sells and how much profit it can generate, you can easily find an investor. The investor will decide on a 50-50 profit sharing with you if you share your product with him and he invests totally into the business.
So your first eCommerce business will be shared, but the profit you earn can be used to part ways and build up a separate store.
Sell-on-demand and search a website host
Not all products sell and not every product is as profitable as you might expect. If you wish to save time on research, you can start by making a website and searching for a host for your eCommerce store.
You won’t be needing website developers to design your website because your web host will provide you with a lot of customization options. You can apply readily available templates and design your store accordingly.
Apart from designing, your host will provide you with a lot of management options as well that you might have otherwise paid for to avail. Several online tools such as analytics will only work if you have a paid subscription.
Also, using such tools reduces your workload to 70%. Web hosts will offer most of these services for free.
With your store all set and open to customers, you might be thinking “What to do with a store when you don’t have stock?”
Easy!
Display a variety of products in your store and make sure you have a back-end supplier that can sell you products per piece at a comparatively low rate.
See which products are on demand and each time you receive an order, you can ask your supplier to ship a specific product to a specific customer.
The supplier can take delivery charges and his profit of the product, while you selling it for a higher price can earn a good profit too.
It does seem like dropshipping but this model is slightly different since we are talking about a partnership with suppliers and selling trendy or on-demand products.
Conclusion
Business is not something you can’t do. We have hundreds of models and ways that you can use to secure your business, earn without investment and reduce the fear of financial loss.
There are tools that offer data with precision so your chances of making mistakes lower to a great extent. Freelancing, dropshipping, partnerships, etc. are splendid ways to earn and offer customers an easy and friendly shopping process.
Also, with some digital marketing in action, you can expand your business from one product to multiple and from one platform to another.
