No Cash to Start an Online Business
No cash to start an online business? Then let’s look at how you can start an online business with no cash.
No money is just an excuse. There are many different types of businesses that can be started with no cash.
It sounds too good to be true, right? But will it work in reality?
The answer is a resounding YES.
You can build a very successful online business with no cash.
In this blog we look at some of the different ways to get started with an online business for free.
YouTube
YouTube is the 2nd largest search engine behind Google with 122 million users per day.
Starting a YouTube Channel is free.
However, like anything online you need to find your niche and build content around it if you want a good following and to earn an income from your channel.
YouTube has grown in popularity and continues to grow with 89.5% of mobile users accessing YouTube according to data released in November 2022.
Videos do not need to be elaborate and can be recorded and edited on a mobile phone and uploaded to YouTube.
The key thing with YouTube is to get videos uploaded and start building a following. The money comes once a following has been built.
Jimmy Donaldson was around 12 years old when he started his YouTube Channel Mr Beast. Now around 24 years old, he has worked hard to build the channel. He earns an estimated $54m a year.
YouTube can be a great way to start an online business for free.
TikTok
The TikTok platform has grown phenomenally over recent years. Similar to YouTube a free channel can be created and income generated based on views.
The videos are shorter and often quirkier. The can easily be recorded on mobile phones and uploaded to TikTok.
The only downside with TikTok compared to YouTube is they pay less per view. So with YouTube you can expect to earn $50-$100 per 1000 views with TikTok the amount is around $20.
Facebook and most social media platforms are another way to start an online business. For this blog I’ll focus on Facebook.
From a business point of view, starting a Facebook page that links through to a group and selling courses or training is one way of making money through Facebook. However, unlike YouTube you don’t get paid for content.
Income is earned through sales generated from online courses or training.
For example, I have a Facebook page – Karen Newton International https://www.facebook.com/karennewtoninternational where I’m building a following and providing information about my business.
There is also a Facebook Group. The group is people who want to learn more about me and my products and services. In marketing lingo, this is the warm audience. Through here, I sell courses, coaching and memberships to the members of the group.
Memberships
Memberships are paid for services where members get more for their money.
I run a paid membership site “Members Only” where members get access to live training sessions directly with me along with resources made available each month.
Membership to the site is £9.97 per month.
Resources made available each month through the membership site include,
- ebooks,
- video interviews,
- Online Business Mastery – Business Starter with live coaching.
- Access to Market News and Strategy live report.
Membership groups can be run through Facebook groups or through a website.
If you want to create monthly recurring revenue (MRR) then memberships are a good way to get started and can be set up free of charge.
Websites
Social media platforms such as Facebook and YouTube can be switched off at anytime if you break their rules which they are constantly updating.
Recently, content from 2020 was deleted from my Facebook timeline. I received a notification that the article had been deleted because it was shared to a personal timeline which was outside their new rules.
The article was written on my Facebook page and shared to my personal timeline.
A website stops all that nonsense.
With a website, you have control over the content you put on your website.
Cost often stops people from creating websites. With Wealthy Affiliate, there is a free starter kit.
I have a review on this site here which goes through the benefits I found for using Wealthy Affiliate.
So, now you can create a website free of charge and upgrade once visitor numbers and sales start coming in.
Affiliate Disclaimer – There is no commission paid on the free starter package however, if you do upgrade then I will receive a commission.
Email List Management
The best online salespeople have an email list and generate over 90% of their sales from the list.
Building an email list is essential if you intend to sell products or services online.
No matter how you decide to run your business via YouTube, Social Media sites or a website gaining people’s email addresses is still key to making money online. That requires email management software.
I choose to use Aweber for email management after trying several platforms.
Here I create landing pages, and lead magnets, set up automation for newsletters, and communication with people on the list.
A review on Aweber can be found here.
Aweber offers a free starter package with upgrades available as the business grows. To access the free starter package, click here.
Affiliate Disclaimer – I am an affiliate for Aweber. I receive no commission on the free starter package but if you do decide to upgrade then I will receive a commission.
Free E-commerce Sites
If selling a product online and requiring a shop front there are several ways a shop can be created for free. However, with most E-commerce sites there is a commission paid on items listed and sales. The good thing with this system is if you don’t generate sales then there is nothing to pay.
eBay – this is the first site I recommend to my clients. They can put items up for sale on a personal account and only need to upgrade to a paid shop once they have reached a certain level of sales.
Etsy – specializes in handmade and vintage items. Similar to eBay, a free shop front can be set up with commissions paid on listed items.
Square Online – offers a shop-building platform with a free starter package with commissions paid on sales.
Several of my clients have been very successful selling items through both eBay and Etsy. One client sold e-scooters on eBay and was earning an average £2000 per month. A client selling wool, patterns and knitted garments made £5000 in her first month on Etsy.
The key to being successful on any e-commerce platform is understanding the nuances of how to attract buyers to the site
Can You Start an Online Business with No Cash?
There are many ways to start a free online business with no cash, so no excuses for not being able to afford to start a business.
When it comes to time it depends on how much you want to dedicate to it. I have started a business with just 30 minutes a day and it has proven very lucrative bringing in thousands per month.
The only thing stopping you from achieving your financial goals is you.
