Starting an online business from the ground up can be costly. But with the rise in technology, there are ways to get around high start-up costs. Since you won’t start with a booming fan base of loyal customers, a fancy website is not a necessity when starting your online business.
Websites like weebly.com and wordpress.com will allow you to make your web page free of cost. If you start a blog based on the business you are trying to start, you can easily segue into promoting your product and eventually reach a point where you are making sales. Recent studies also show that your pool of online customers continues to grow with each passing year, and by 2023, e-commerce will account for almost 22% of the sales worldwide. To help you cater to your true calling and get your online business started, below are a few quick tips on how you can keep your start-up costs within your means.
TIPS ON KEEPING YOUR START-UP COSTS WITHIN YOUR MEANS
Harness the power of word of mouth
Word of mouth is the best form of advertisement; unfortunately, word of mouth is not something you can rely on when it comes to an online business. Still, it never hurts to have people singing your praises. Try to arouse people’s interest by sharing the products you are planning to sell and the benefits they offer. If need be, make a strong guarantee.
Social Media Advertising
Once you have your website, advertising becomes a necessity. You can pay for someone to orchestrate the advertisements for you or easily advertise your product for free by using social networks. You can post blog entries on other people’s pages, leaving a link to your website. Also, you can create a Facebook page specifically for your brand or service; the possibilities are endless.
The only caveat to self-promoting your online business for free is that you have to do it often, and you have to do it a lot. You may find that a large portion of your day is spent strategically placing your ads in cyberspace. This isn’t a perfect solution. But it is great for beginners, especially when trying to keep tabs on your start-up costs.
Capitalize on yourself
Another way to cut your start-up costs is to capitalize on the talents and skills that you already have. You could do something as simple as tutoring to get by while you save to make your online business grow. This refers back again to freelancing. Sell your skills to people who require an excellent presentation to be made that you can provide for them. Selling yourself is all about capitalizing on what other people either can’t do or simply don’t want or have the time to do.
Using E-commerce sites
Suppose you are starting an online business that sells tangible items. In that case, you can start trading immediately and at a relatively low cost on well-known e-commerce sites like Amazon or eBay. Here, you get exposure to millions of customers without doing all the advertising yourself. Some people can make a living simply by selling things on eBay. These cost you a percentage per sale. However, the cost difference may not be that much compared to how much it would cost you to create your web store. Simply research and find cost-effective means that best caters to you.
Read More: Six Commonly Sought after Freelancing Jobs
