How to Start a Business With No Money
The Grind and Gratitude Show
English - June 22, 2020 04:00 - 30 minutes - 29.3 MBEntrepreneurship Business Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
You can become a freelancer or your own consultant right now, completely with no money down. All you simply have to do is sign up for a lot of these websites that already have people who are looking for somebody with your skills, apply for those gigs, and then start doing the work and start getting paid.
The world is changing. Most products and services are moving online. Digitizing brick-and-mortar businesses is something you must adapt to reach more people around the world. Figure out your own skills that could be shared online and use them to start a business.
In this episode, I’m going to give you 7 things you can do to start an online business with no money so that you can share your passion, help people with their needs, and at the same time earn from it in the virtual world.
[2:03] Find something that you are passionate about and figure out a way to monetize that.
[2:58] You can sell your skills.
[3:44] A large proponent of your business has to be digital or online because the world is changing. And also, having online services or products allow you to reach so many more people.
[5:50] If you have skills, you can monetize those as a freelancer or as a consultant.
[8:54] You can become a freelancer on your own and start applying to jobs either online or through word of mouth.
[9:57] Affiliate marketing is about you, finding products and services that you like, promoting them, and getting paid to do that.
[10:41] Affiliate marketing can be quite lucrative for some people, especially if you have a lot of followers on social media or you have a large email list.
[12:59] A monthly membership is basically where every month, you decide that you're going to put out some information or teach something to a group of people.
[13:25] Try an online membership. People pay a monthly membership then you do online teaching.
[16:05] You can develop a step-by-step process, turn that into an online course, and you can start selling that course right now.
[16:35] Here's the great thing about developing an online course, you develop it once and you sell it forever.
[18:20] The great thing about a coaching program is that you're teaching people to live again. It's kind of similar to a monthly membership but with a coaching program, there's more of a start and an endpoint. Monthly memberships can go on for years but coaching programs have a designated kind of start and end to a program.
[19:30] Anything that you know, you can teach and put that into a program.
[22:27] You can start by just getting a group of people together, on the phone, or on a video call and just walk them into a process.
[22:44] Drop shipping is where you buy and sell other people's products. It's kind of like affiliate marketing except you can sell products that you don't even have.
[23:29] The great thing about dropshipping is, a lot of it can be white-label, meaning that you can put your own company name on it, you can make up a company name, and get them to put it on your product.
[25:13] Digital products can be information packages, e-books, and audios that you sell online.
[28:13] Always start with something that you're passionate about, curious about, and lights a fire under you and then figure out a way to monetize that in some type of digital form or online, even if you are doing bricks and mortar.
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