How to build Online business with zero investment?
If you’re thinking about starting an online business, you’re in good company.Online platforms are one of biggest gift to humanity with immense socioeconomic opportunities. Here I am sharing my three step formula through I made passion into a successful online business. Not only is the demand for online shopping skyrocketing, but it’s also never been easier to start an online business. Almost every part of running an online business, from sales to logistics to design, can be easily managed through user-friendly tech platforms and software. Even so, turning your venture into a successful, revenue-generating company is still a difficult task.
Inspired entrepreneurs, especially the first-timers, launch a startup to find out that creating a company from scratch is a complex and challenging process but by following systematic approach with keeping the things simple will definitely move you towards the success.
If you have 1. good writing skills 2. good analytical skills 3. Data skills 4. Negotiation skill 5. Networking skill
There is good chances that you can create a big impact in society with online ventures with moderate or no investment.
To start online venture is easy
“Opportunities don’t happen, you create them.” — Chris Grosser
Follow three step approach to start your profitable venture
1 Identify your passion-for example if I am very passionate about writing and numbers so I made my career in writing with business stories.
2. Link it with market– Market linkages help you to monetize your passion. I felt there is demand for business books so I started self publishing business books. Now my books starts giving me decent income.
3. Start building products /services -After market linkages, you can start building product /services around your passion. Initially I published my books now I am piloting video courses based on my books and initial response is very encouraging.
Why Low investment Business ?
Low investment business has high profit margin and bigger success. There are many businesses which have potential to become big with low risk. For example Social media, blogs, motivational books, metal fitness, physical fitness, financial advisory, lifestyle, IT,AI etc. are the promising areas where you can start your venture with moderate or no investment.
Five golden rules to build online business
- Innovate -Customers are looking for better solutions. Try to innovate to become successful.
- Market your business– Do not shy to market your business. People welcome the new ideas.
- Sell what you make -Learn selling. At least sell to first 100 customers your product and service by yourself.
- Earn then spend — First earn then spend. This will make you to realize the value of customer’s money. Customers prefer value for money.
- Be patient & disciplined– Consider business as a marathon. Be ready for long race. Market will definitely reward the patience and disciplined players.
Most important for online success are
a. Customer Acquisition – bringing people to your online store.
b. Customer Engagement – people finding your product.
c. Customer Activation – people registering and buying the product.
d.Customer Retention-people returning and buying something again.
I realized that Passion, Dedication and Rational thinking will make the business successful.There are five types of startup which can be started with less or almost no investment.Here I am briefly discussing about them
Startups doing trading of product or service like online retailers,property dealers. etc.
Startup selling services like yoga training,personality development,english speaking,online ticketing etc.
Startup aggregating service providers like Ola,Uber etc.
Content/networking providing startup like medium,Quora etc.
Above startup has low investment,high return with moderate waiting period to establish.
Six month back during my online session one participants Mr. John shared his online book store business model. John was running his online book store which he started in Feb,2020 but now he is struggling with growth. He told me his journey and express his desire to scale his business .I am sharing his success journey in simple form below for benefits of my readers.
1.He started to establish himself as an authority in books (blogs,workshops,reviews etc helped him)
2.He developed his niche in particular segment as book store for education and competitive books.
3.He built his website & webstore in all major online platforms
4.He started his digital marketing & traditional marketing to attract more visitors
5.He build a loyal community with help of readers club,think tank group book lending club.
6.To attract new visitors he has taken help of compelling offers and rewards
7.He collected testimonials and did wide publicity
8.After some time he had taken help of influencers like authors,professors,bright students etc.
9.He started organizing books reading,book donations etc. campaign to build his brand
After analyzing his business I suggested him three step approach 1. to go for automation 2. build more engaging community 3. Add book plus services like publishing,book launch etc.
If you want to discuss your business,I will be happy to provide free consultation.To get free consultation you can write to me firstname.lastname@example.org
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