Raising capital to start a business is one of the hardest things for many to do. This is because most businesses require a lot of money to start. This leaves those on a low budget wandering on the type of online business they can start with no money.
There is a common saying that “you use money to find money”. You need to be ready to part with some good amount of money to be successful in most offline and online businesses.
Apart from the start-up cost, online business often requires paid advertisement to make reasonable sales. However, all hope is not lost as I will be showing you in this article the four best online businesses you can start today with zero start-up capital.
4 Best Online Business You Can Start With No Money
- Affiliate Marketing
- Information Products
- Youtube Channel
1. Affiliate Marketing
Affiliate marketing involves selling a product or service that belongs to another person or company in exchange for a commission.
There are lots of reasons why you should consider affiliate marketing. Affiliate marketing is a kind of online business you can start with no money at all because you don’t need to maintain an inventory of your own products, and you wouldn’t have to worry about shipping products to customers. The owner of the product would handle all of that for you.
How to Start An Affiliate Marketing Business
1. Choose a niche- Basically, you need to make some research online so that you can be sure that you are picking a profitable niche for your online business.
2. Find Affiliate Partner(s)- You need to look for affiliate partners. This step is very easy because there are lots of businesses that are looking for people who would help them to market their products or services. They are willing to pay anything from 5% to 70% commission.
Some of the affiliate sites where you can find products to promote include CJ Affiliate by Conversant (formerly Commission Junction), Clickbank.com, Digistore24, Amazon.com. They offer just about any physical product or digital information product (like ebooks, audio files, video files) you can think of.
3. Promote the products- You can drive free traffic to the products using any combination of the following social media platforms: Instagram, Twitter, LinkedIn, Facebook, quora, or Pinterest. Also, you may offer the products for sale on your blog or e-commerce website.
Each product you are given to promote has a unique link that tracks back to your account with the affiliate partner. Anyone who clicks on the link is redirected to your partner’s shopping cart for checkout. Once they buy, the purchase is recorded and you receive a commission.
The amount paid to you as commission would vary depending on the affiliate partner or type of product you are promoting but it’s generally as low as 1 percent to 25 percent on physical products, 15 percent to 50 percent on services, and 40 percent or more with digital information products.
As you can see, there’s little risk on your part and virtually no investment needed either. Although running paid ads would bring quicker and bigger profit but with consistency and patience, you can build a profitable affiliate marketing business starting with zero capital investment.
Another online business you can start with no money at all is blogging. If you have the passion, expertise, or interest in a subject, congratulations! you are a qualified candidate for blogging. You’re ready to start making money with a blog.
With the help of services like Blogger (www.blogger.com), you can start up your blog totally free. You may as well create your own site and secure your own hosting for a low price, which is generally the route I recommend, as many free blogging sites have restrictions on what you can say or do, including making money or advertising.
Still, if you are on a low budget or with no money at all (I guess that’s why you are here in the first place), you can start your blog for free by creating a free account with blogger. They will allow you to paste ads on your blog posts.
Blogging is not only about writing. Written blog posts are just the start. You can post videos, photos, and links to other sites, you can even repost other articles and news… anything goes, as long as it relates to your niche. The most important thing is that you have to post original content that is useful to your target audience and to post on a regular basis. This way you will easily get ranked in the search engines and also get your audience to take action.
How to Start Your Own Blog
1. Choose a niche- Pick a niche that you have a measure of interest in. Your choice of niche should also be what people are looking for. Is it a niche where people buy products or one in which they just read the information and they are okay?
It is very critical that you consider this because this will go a long way in determining whether you will make sales with the affiliate links you’ll paste on the blog as a way of monetizing it.
2. Create posts regularly- Be sure to post on your blog at least once a week if you want to see quick results. You need to decide how often you want to post on the site. Is it daily, three times a week, biweekly, weekly, or monthly.
3. Have your own blogging calendar.
4. Optimize your posts for search engines- Another requirement for a successful blog is to regularly post quality contents that are optimized for search engine.
5. Promote your blog posts through social media.
How to Monetize Your Blog
1. Google AdSense – You must have come across ads while browsing different websites on the internet. Chances are that this advertisement is from google. You can monetize your blog using this google AdSense. It is a pay-per-click kind of advertising. Although this might not yield much profit at first, as your website continues to receive more visitors, the revenue will increase.
2. Other ad networks – Apart from AdSense from google network, other pay-per-click ads also exist which you can easily get their approval and use to start monetizing your blog. Examples of such include PopAds and propeller ads.
3. Promote affiliate products – Another way to generate money from your blog is by promoting affiliate products. Promote products that are relevant to your niche and useful for your audience.
4. Promote your own product or service.
3. Information Products
Selling information products is another powerful online business you can start without any start-up investment. When you run a business online, you are not limited to selling only physical products like most eCommerce stores. Your online business can also sell digital information products. In fact, it is one of the easiest and quickest means to make money online.
There are different methods of creating information products, but the most prominent format include:
1. Text format- Like an ebook, a travel guide, an instruction booklet, and so on
2. Video- A how-to video, a recorded webinar, an interview, and the likes.
3. Audio: An interview, a course, a recorded teleconference.
You can really get creative and create engaging and useful content using any of the above formats. Getting what to write about should not be difficult, you can teach people anything of the things that you already know. For instance, if you are good at playing guitar, you can create a course that will teach people how to play guitar
in one month.
You can easily produce information products, especially ebooks, without spending any money. All you need is a good PC and probably a webcam if you are making video content and you would love to show your face. Your PC webcam might even be manageable for a start since you are on a very low budget.
No matter which way you choose to do it, you’ll earn passive income from this. All you have to do is to put these products up for sale on your website or blog and a customer can buy and download them any time of the day. This gives you the opportunity to make money while sleeping.
How to Make Money From Information Products
1. Promote your products through social media like Facebook, LinkedIn, and Twitter.
2. Participate in answering questions relevant to your niche in forums like quora or nairaland and use that opportunity to promote your product.
3. Start a blog in relation to that niche and use that avenue to promote your products.
4. YouTube Channel
Running a YouTube Channel is another online business you can start today with no money at all. YouTube is one of the world’s most popular websites. Of course, even you must have watched a YouTube video recently. You don’t need money to start a YouTube channel. It is totally free to have one. YouTube is owned by google so it comes with your Gmail account.
There are more than 2 billion users watching hundreds of millions of hours of video every day. You can leverage YouTube’s reach to make money online by following a proven strategy for maximizing views of multiple videos on a regular basis.
The most important strategy is the strategy of content creation. You’ll have to create useful content— that is something engaging that people can or want to watch. And this works well in many, many different niches. You can create a talking-head video or a how-to video on a topic of interest for people in your niche.
Your first step is to create a YouTube account. If you have a Gmail account you already have a YouTube account. Just launch it and start uploading videos. After this, you enable monetization on your YouTube settings.
In short, these simple steps give Google the go-ahead to include short AdSense ads with your videos. When viewers click on the ads, you get paid. You make money with ad revenue.
How to Make Success with YouTube Channel
1. Post content regularly.
2. Promote your channel and new videos on social media.
3. Promote affiliate products in your video descriptions (Only promote products or services that are related to your niche).
4. Sign up for a free auto-responder to capture emails of subscribers so that you can promote more things to them.
5. Grow your audience and you’ll be able to make extra cash with sponsored ads from big companies.
These four online businesses can raise you from zero to hero. Don’t start all four together just because it requires no money. Do more research on each of them and pick just one to start with. Focus on it and you will soon be.
On a final note, think of scaling your profit with paid ads once you begin to make money from it especially if you are into affiliate marketing or the sale of information products. See other ways of increasing profit in your business here.