There are many benefits to running an online business. Including lower startup costs, more flexibility, greater reach and greater communication. During this digital realm, more and more businesses are switching to an online model too. However, many individuals experience difficulties when looking at startup costs and funding.
In this article, we will take a look at some of the best online businesses that you can start with no money.
Start a Consulting Business
Have you developed knowledge and expertise in a certain industry over several years? Why not put your skills to use and help others?
One of the best ways to help others by using your existing abilities and business skills is to start a consulting agency. It’s a low-risk option to get your company off the ground and start building your business.
Firstly, you’ll need a website to showcase your expertise, you can easily create a gorgeous professional site for free with WordPress, and secure a domain name with Godaddy or Namecheap.
Use a logo maker like Canva and order some business cards to distribute. You’ll also need to leverage and expand your network, attend industry networking events, and expand your Linkedin relationships.
Referrals and word of mouth will be your most reliable sources of work once you’ve spread the word. Consulting work can swiftly transform from a side hustle to a substantial source of income.
Setting up as a consultant is a great option whether you want to start a profitable business or just want to put your skills to good use pro-bono.
Some of the key benefits of consulting include:
- Consulting teams can support each other
- A large customer base
- Time flexibility
- Ability to leverage your existing knowledge
You could consider tutoring if you have experience in teaching or possess any type of specialized knowledge. There are a variety of services and platforms that can help you connect with students.
In many areas of the world, speaking English is a valued commodity, and you can make money by offering one-on-one English lessons online. Online tutoring is becoming more popular, and there are a variety of amazing online delivery systems available, like Animoto, Padlet, IDroo, and TutorsClass.
Unlike the Zoom platform, which is created as a meeting platform and does not meet best practice criteria for online tutoring, the above-named platforms have been specifically designed for tutoring.
Benefits of online tutoring:
- Private learning environment
- Convenience and flexibility
- Helping others
- Very cost-effective
- Has become the best way to learn
- It’s pandemic proof
You can start making money with a blog if you have knowledge, a passion, or an interest in anything. You can start a blog for free using sites like Blogger.com. You can also build your own site and host it for a fair price using open source software such as WordPress. This is often the recommended approach because many free blogging platforms have limitations on things such as making money or advertising.
Many people think that blogging is solely about writing. However, blog posts are only the beginning. You can also share pictures, movies, audio and as well as news and other information. The options are endless, so long as it’s somehow related to your niche. If you are a real estate expert for example, then posting stuff about cakes would be pretty pointless.
The most important thing is to provide unique content that is relevant to your target audience on a regular basis. This is the best strategy to improve your search engine rankings while also encouraging your readers to take the action that you want.
What kind of content? Anything that will pique your reader’s interest. How-to articles, top-10 lists, comments on industry trends and tips and tricks are all great examples of valuable informative content.
Advantages of blogging include:
- Getting immediate feedback
- Becoming a better writer
- Zero startup costs
- Gaining exposure for other projects
Pay-per-click ads have become a massive industry.
You can broker them, earn from having them show on your own blog or website, or use them to sell products directly.
You earn a commission every time someone clicks on an ad. This is a rather hands-off approach. All you have to do is copy code from Google and paste it on your website and the ads will display on your online assets automatically.
Google Adsense is used by a large number of organizations and advertisers. It is now used by over 11 million websites.
Benefits of utilizing Google Adsense:
- Huge network of advertisers
- Efficient payout system
- Free to use
- Minimal setting up
- Adds value to your site
- High security, transparency and protection
Alejandro Cremades is a serial entrepreneur and the author of The Art of Startup Fundraising. With a foreword by ‘Shark Tank‘ star Barbara Corcoran, and published by John Wiley & Sons, the book was named one of the best books for entrepreneurs. The book offers a step-by-step guide to today‘s way of raising money for entrepreneurs. Most recently, Alejandro built and exited CoFoundersLab which is one of the largest communities of founders online. Prior to CoFoundersLab, Alejandro worked as a lawyer at King & Spalding where he was involved in one of the biggest investment arbitration cases in history ($113 billion at stake). Alejandro is an active speaker and has given guest lectures at the Wharton School of Business, Columbia Business School, and NYU Stern School of Business.