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How to Start An Online Business With Minimum Modal

Updated on April 5, 2012
Do you want to earn money online?
Do you want to earn money online?

I could be very wrong but I am sure you have wished (at least once in your life) that you could work from home, earn tons of money and even starting a business. Well, if you are looking for a guide on how to start online business from scratch and literally minimal (zero cost if possible) cost, then you definitely come to the right spot!

With the technology nowadays, online business is pretty easy to start up and you got an ocean wide of choices to choose from; products selling, affiliations, webhosting, writing online and many more. I am pretty sure you have at least 10 ideas in mind right now. So, without any further delay, here are what you need to start a business online from scratch.

Starting an online business the right way

1. Your core product

Let me be very frank here. If you want to sell, you got to know what to sell. You can sell clothes, electronic gadgets, reading materials etc. By knowing your core product inside out, you are now able to start the second step of your business.

2. Business name

Okay this is another important thing. If you want to start a business, think of a name for it. You got to be serious with this as you are going to stick to this for pretty some time (literally until you decide to close your business…if ever). There is no trick here to be honest. Just start a name which is easy to remember; look at those big companies and Fortune 500 such as Apple, Macy and IKEA. You get the point right?

3. Pricing and competitions

After setting up a business name, you should start scouting for the best price that you can offer. For example, it is always much better to sell something more with a smaller profit as the overall will ensure you benefits more from it. Also, one of the best moves prior to opening or starting a business is knowing your competitors. If you are selling clothes online, you got to know who others are offering and whether you can work out from there.

Always do what it takes to beat your competitors
Always do what it takes to beat your competitors

4. Start a website

Thank you God for the many choices we have when it comes to starting a website. For example, we can choose from self-hosted website or even a free platform. For the free platforms, you can choose from Blogger.com, WordPress.com and Weebly.com. If you are interested with a more customized website, you can always opt for self-hosted websites such as having your own dot com or dot net. Again, this (self-hosting website) might come with a small cost.

5. Know where and when to use social media

You need to market your products and with millions of users logging into Twitter and Facebook daily, you are opt to receive tons of potential traffic. Play around with tags on Facbook, hash tags on Twitter and even share option in social media to make sure you are using the advantages to its best.

6. Get ready to ramble!

This is indeed the last and most crucial part when starting a business online. Working online is definitely challenging and you have to be mentally prepared. I always tell others that if you are able to hang in there for 3 to 6 months, you would probably make it well without a doubt. I had seen so many people leaving and giving up hope in less than 2 months. Starting a business regardless if it is online or not, is definitely not a short term investment. If you are mentally prepared, you will be doing well and indirectly, you have won half the battle.

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