They used to associate businesses with shop fronts, offices, factories, staff and rental. These are just way too intimating for an individual, without even considering yet foot work and admin work necessary in the preparation.
And what about money? The perceived lack of it is a major stumbling block to starting up.
The good news is that things are changing.
Today's entrepreneurs have business options that allow them head start into sales and marketing activities, bypassing all of those headaches and costs previous generation businessmen had to contend with even before the real efforts began.
That's the power of the internet today.
And since we are looking for a richer and more rewarding life, I pen my ideas of some features that ‘carefree' businesses should have. We want to be careful not to get out of one rat race only to find ourselves in another.
STARTING ON THE INTERNET
Selling over the internet is a very attractive solution to new entrepreneurs. If they don't want to, they can do away with setting up a company, and so too, an accountant and a secretary. Registrations to Ebay and Amazon.com are just a number of clicks away.
And while sourcing for serious products to sell, they can try ridding the attic of toys, clothes, wallets, magazines and gadgets. They can ‘test water' by posting wares on EBay and Amazon.com, allowing them to gauge demand, get online sales experience, explore marketing strategies and fine tune sales pitches. In the process, too, they learn what the demands and margins are for the different types of productc. Talk about killing many birds with one stone!
And very soon, with the first item sold on the net, the ball gets rolling. The item has to be delivered to the buyer as fulfillment of the transaction.
Ah, fulfillment. On a bigger scale, it includes inventory control, packaging and shipping. Logistics is costly, to say the least. It is expensive and complicated enough for an entire industry to spin out from.
This is not an exciting aspect of business. If you are marketing tangible products, I recommend that you negotiate drop-ship arrangements with the products' suppliers.
NON-TANGIBLE PRODUCTS
Alternatively, you can consider downloadable or web-based products (music, ring tones, wall papers, e-learning, to name a few).
Note that the cost and effort in driving traffic to your website (that's where the referrals or sales are made) is not significantly different whether you earn $2 or $200 for commissions. For a start, however, $10-$50 is a good range to target at.
Choose ‘branded products'. Hey, celebrity endorsement works. Better still if the celebrities are part of the product. What do I mean? To cite examples, Mariah Carey is ‘part of her music' being sold. Or, when Robert Kiyosaki speaks in a seminar, he is part of the product. Such products sell by themselves. You focus on bringing in the traffic.
Pay structures vary from one affiliate program to another. Look for those that compensate you for sales generated up to 6 to 7 levels of downline, at least.
AFFILIATE PROGRAMS
When shopping for an affiliate program, your checklist should include well established systems. They should have transparent reporting of your referrals, sales and/or genealogy of downlines. Some of them allow you control in placing downlines so you can strategize effort and revenue distribution for friends and relatives who come onboard.
As support to you, the content provider should make online and offline marketing materials available. These include training, video clips, audio recordings, brochures and name card templates.
LANGUAGE
In theory, with the internet, you have access to the entire world. But in reality, your product is exposed only to people who understand the language with which your pitch is delivered. It can be very beneficial to provide language options on your web site.
For e-learning products, the courses/ modules should come translated into major languages.
REALISTIC BUDGETING
Many online subscription based products come with the marketing rights. When you pay to enjoy a particular product, guess what, that is your start up cost already!
Add domain name registration and web hosting services – they hardly come close to $200.
Budget another $1000. You should have more than enough for the other tools you feel will come handy. But those come later.
Indeed, needing big capital to start a business is a thing of the past. The internet has changed the global business landscape. It may continue evolving, but internet marketing is here to stay. It is a good time to take that first small step.
Business Small Start Up
To create an online business, assuming you already have a computer and internet connection, all you'll need is to pay for registering a domain name for about $15 a year at most; you need to have hosting service for your website which costs about $20 a month or less if you get shared hosting service; you should have an autoresponder service as well to handle your follow up emails with your customers, again only costs around $20 a month. That's about it. You are looking at roughly within $50 a month and you are good to go. With a small budget or limited fund, look around to find some free services that you can use to start and get your business going, then invest in some of the necessary software or tools to help grow your business.
As far as the trade tools, you don't have to buy the expensive software if you are starting on a small budget. There are plenty of free tools you can find on the Internet. There are keyword search tools that allow you to do research on the keywords or keyword phrases to determine whether it is a profitable niche for you to get in. Instead of spending a few hundred dollars for a website building software, there are sites that let you build your website with easy drag and drop functions for free. Don't know much about the online business building blocks? There are plenty of free e-books, free e-reports, free mini e-courses offered in exchange for your email address. Of course these free tools are somewhat limited compared to what the experts are using, but they do a pretty decent job and still get you started.
You don't have to have your own products to be in business online. You can sell other's stuff on your website and get paid pretty handsomely in the form of commission. This is widely known as affiliate marketing. Did you know that you could sell http://Amazon.com stuff? There are many similar companies that would love to pay you to sell their products. There are thousands of digital products that you can be affiliated with. With affiliate marketing, you don't have to own or stock the products, that mean no inventory, and that equals to no money up front. You earn a profit when you made sales.
For driving traffic to your website, if you have limited working capital to pay for ads such as the pay-per-click type of traffic, you can do articles marketing, blog marketing, forum marketing, social network marketing, joint venture with other web masters, post videos on videos sharing sites and many other ways. Information is everywhere, just be willing to learn new techniques but beware of too much information can sometime be overwhelming and you might loose focus.
Can you create an online with a small budget? Definitely, if you are willing to work at it, be persistent and stay focus on what you are set out to do. As someone said, "success is more of a mindset", believe that it can be done, and it will be done, with much success.
Both Ianny Lau & K Ngo are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.