Starting an online business with little or no money is very possible. Yes it is! All you need is your smart phone and internet and you are ready to start an online business. You don’t have to wait till you have a huge sum of money as capital before your business becomes a reality. Let’s walk through these steps on starting an online business with little or no money. This article is going to be based on how I started my online clothing business.
These steps have been tried and proved successful.
Choose your product
Every product idea is meant to solve a problem; so what problem have you noticed and what product can solve that problem. Most online businesses that fail are as a result of the concept or foundation they have about going into online business. Some just join for the sake of just joining because everyone seems to be selling something online. You must have a purpose for your business which will lead you to the right products.
Do a feasibility study
A feasibility study is done to ensure that your business plan will be successful. As the words imply in the context, if your plan is feasible. A feasibility study will inform you on the right decisions to make for your business. It involves a lot of questioning to arrive at a good conclusion. For example, is the demand for your product higher than the supply? Do you have the right tools and devices to run an online business? Who are your competitors? What are they doing wrong that you can rectify?
Create an identity
Identity is crucial especially for online business owners. Your identity defines your business, brand and what you do. A unique identity could pave a great way for your business to succeed if properly utilized. First of all, get a name for your online business. Use a name that is linked to your product. Another thing to look at is a logo. You can design your own logo and fliers by using free tools like Canva, Gravit Designer and SVG-Edit. Your business name and logo should also be related to enable your potential customers to identify your business.
Create social media pages
Social media platforms like facebook, Instagram, twitter, snapchat and whatsapp have become the go to platforms for online businesses. It is the fastest way to sell online owing to the number of hours people spend on these platforms. All you will need to set up these pages is a good smart phone and internet. The name for the pages on the social media platforms should be the name you chose as your identity and the display photo can be your logo or flier.
Upload pictures of products
Take or download pictures of the products with a good camera and upload them to your social media platforms. Your pictures should be clear and enticing to your customers. The products should be taken from nice angles to achieve a beautiful and an attractive picture. Using free editing tools like Boomerang, Photogrid and Inshot, you can edit your pictures before you upload them. You can put your logo on the pictures too.
Find and Establish a relationship
It is not easy to find or create a relationship with customers but you can start by sharing your social media handles with friends and family, to follow, like your contents and share. That way you can gain followers and create a social media presence without spending so much money. Continually remind your friends and family to follow and share your content and pages.
Sit, relax and wait for your orders. It will take some time but with consistency and determination, you will succeed. All the best in your online business.