What Kind of Business Can I Start with Little Money

I have always been asked, “what kind of business can I start with little money?” As I have been running my blog and monetize my website for years, my answer would be internet marketing, online business or affiliate marketing. In short, you can become a blogger (an affiliate marketer).

What Kind of Business Can I Start with Little Money

What Kind of Business Can I Start with Little Money?

Almost all online business started with a very little budget. If you are limited to a strict budget, it does not mean you can’t start making income online. It is always possible to start an online business with very little money provided you have the right mentor, work attitude, and good plan.

If you enjoy writing, find a topic you are interested and passionate about. Topics such as photography, basketball, gardening, how to lose weight, cardio exercise, yoga, how to stay young and many others.

It is fairly cheap to start a website and pretty straightforward. All you need is a computer, some disciplines, and time to write to engage your readers. Most full-time bloggers started writing about their hobbies and eventually turned them into online businesses over time.


Can I Make Money Online with Little Money?

Yes, you can definitely make money online with little money. It is often less than you expect.

First of all, there are many other alternatives to make money online. Some do not even cost you a cent such as taking surveys online but I don’t recommend as it doesn’t allow you to make a sustainable income in a long run.

I always recommend people to own their businesses by getting a domain. That always come with hosting costs as well. In average, it only costs about $14 for the domain and about $150 for a year of hosting. That adds up to approximately $160 per year, in which it is relatively much cheaper to start an online business as compared to a traditional business.

By purchasing a domain, you can do whatever you like with it as you have the full control over your website. There many free platforms on the market where you can own a domain free of charge. However, it comes with advertising banners that you can’t get rid of. To me, it doesn’t look professional and appealing.

Let’s just assume that you are willing to invest less than $200 per year to start your own online business. Here are the step-by-step to start your journey to make money online.


1. Do I need to know how to make a website?

You don’t need to know anything prior to starting your own website. You need to have the right attitude to start an online business – willing to learn. We are all beginners at something. I started mine not knowing how to make a website too.

So not knowing how to make a website should not stop you from learning to build one. The advancement of technology has made blogging a lot easier now than it used to be. Most of the complicated and hard work has been done. You do not need to know HTML coding or other scripting languages to own your online business anymore.

In the present days, there are many useful platforms and tools that allow you to start building your own website with just a few clickings. For example, you can get a basic website up here. This is a free website creator where you can always redirect this free site to a real .com domain at a later date.


2. Choose Your Niche (Topic)

A niche is basically a corner of the market that you will be targeting. A niche can be photography, basketball, gardening, weight loss, yoga, how to stay young. However, these niches are too broad as there are more than a thousand websites and highly skilled competitors that you need to compete with.

Hence, a profitable niche should be more specific like photography tips for people with low budget. People with no budget for a better equipment can opt for some home-made devices. Although the market is smaller, it is much more targeted.

At the time of writing, virtual reality technology is the hottest topic. Facebook buys British virtual reality start-up Surreal Vision. The world is going forwards to using virtual reality in our daily lives. If you are interested in this area, you could probably opt for this as your niche as it is going to be a huge earning potential as an affiliate marketer.

If you don’t have any ideas at the moment, then you should come out with a list of what possibly could be your niche. A great free tool like Google Trends can be a platform where you can get some ideas where the niche market is going.

For example, Google Trends chart below shows that Virtual Reality has become more and more popular in the recent years (more searches on the internet). That simply means you can attract a lot of traffic to your website as there is a significant amount of people looking for VR information of the internet. You can turn the traffic into revenue.

What Kind of Business Can I Start with Little Money

Think of something very specific. Solve a problem. Think of a name. That will be your niche. The good news is that there’s a target market for everything.


3. Buy your domain and go live

Every day that you ponder about your idea is another day you’ve missed out on establishing yourself online. You need to stop chasing perfection and just get started. There’s no such thing as perfect. It’s all about learning on the job.

I want you to go to SiteRubix and sign up for your domain hosting RIGHT NOW. You can try it out for FREE at the beginning. If you have decided the domain is going to be your final choice, you can convert it to the .com version that only cost $14 per year.

Some readers asked me if it is possible to run an online business without owning a domain or a website. I know some of you read about becoming an affiliate marketer and make money via Twitter or Facebook. I don’t recommend it because if you are willing to take your online business seriously, you should make a little investment to showcase your services, share your ideas and promote products seriously to the world. After all, social media is just a platform to connect people and show off your live styles.

Upon registering your domain, you just need to install your free theme. Your theme is the appearance of your blog. The good news is that you do not need any graphics skills at all to get a theme up. It is all available in the domain hosting.

What Kind of Business Can I Start with Little Money


4. Create your first content to attract readers

Now it’s time to start writing. You have gone through the toughest part – choosing the right niche in Step 2. Creating content is the part where you have to do every now and then to attract readers. To start with, you need to create a few basic pages and posts before you can attempt to bring anyone over to your blog.

Contact Page

Most importantly, you need to create a contact page. You should keep it as simple as possible by writing down the email address, Facebook account and some other means where readers can contact you. If you are using WordPress, you can download Contact Form 7 plugin and install it.

About Me

Your About Page should be all about the value you give and how you are going to help your readers. So, before you start writing your About Page, get clear on what it is that makes your blog useful to your readers and who your blog is intended for.

Once you have these pages on your website. You can start writing your first article about the niche that you want to talk about. Of course, it is not enough to keep publishing posts every now and then. You will need to also promote your blog by commenting on other bloggers’ websites and offering to guest post. This is one of the strategies you could use to get your article and brand known in the market.

AA


5. How to make money from blogging

You were likely wondering about this while reading the whole article. There are different ways to monetize your website, such as selling advertising space, promoting your products (services) and affiliate marketing.

If you are totally new to the blogging world and you do not have products of your own to promote, I would recommend you to focus on affiliate marketing.

You can sell anything that has an affiliate program (e.g. Amazon and ShareASale). There are also service based affiliate programs, in which you promote a service to your readers. For example, if you are blogging about virtual reality, you could review and promote VR gadgets from Freefly and Homido. If someone make a purchase, you make a percentage.

The earning potential as an affiliate marketer is huge because:-

  • There are 316 million people in the US but only 201 million currently shop online
  • 1,400,000,000 was spent  in online shopping last year (globally)
  • E-commerce sales are growing at 10% per year
  • Mobile e-commerce shopping is still in its infancy

There are more than three billion internet users at the time of writing. As more people get online, more people become comfortable shopping online, and everything gets faster/easier/safer, growth is unstoppable.

Wealthy Affiliate


My Offer to You

If you are not comfortable going through the process of setting up your online business alone, you can always drop me an email or a comment below.

When I first started my website, there were many people have selflessly helped me during my transformation into an internet marketer, that I’d like to ‘pay it forward’ now, and help others.

What are you going to do?

If you’re serious about starting a business to see if you have what it takes you need to sign up for your domain and get the ball rolling. You can sign up a domain here for a FREE domain to get a feeling how it works. If you want to join a free 7-day email course on starting up an online business, go here.


My Final Advice

Building an online business from scratch is hard if you are doing it alone. If you don’t want to work, you will not be successful at internet marketing.

This is the biggest disappointment that most people inevitably realize. No money comes fast and easy, even though there are plenty of people that would like you to believe that it does.

I bet you have seen some products on the market where Mr. Guru releases some secret of turn-key internet marketing techniques (plus free bonuses, valued at $297) that only cost you $29.95. Most of them are scams and delivered empty promises. Read “How Can I Make Money Online Without Being Scammed” in order to keep you away from these fake products.

Nothing comes free and fast. I encourage you to educate yourself and build a real business. One that can be profitable for years to come. It’ll take time, effort, and commitment, but it is possible. Although it takes only a little money to start an online business, it allows you to make a lucrative passive income.

Regards,

Alex


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Alex Y

Alex is the owner of Managing Your Finance. He helps newbies start their own online businesses. Sign up for his 7-Day Free training course and learn how to start making a sustainable income online and quit your 9-to-5 job.

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8 Responses

  1. Niki says:

    Hi Alex
    So nice to ‘meet’ you.It seems affiliate marketing is so hot recently.However, I am wondering it is also useful in China. Could you give any advise in not-USA area for this topic?

    • Alex Y says:

      Hi Niki, nice to meet you too.

      I think generally affiliate marketing works fine. However, in China, its size is relatively small because there are lesser companies effectively monetize internet traffic. Besides game industry, the top two are Baidu and Taobao. They have very strong pricing power since their monopoly market share, and small players get less.

      The other important thing is that Baidu pays less attention to the ecosystem than google, they build a lot of services which taking their own the search traffic. This makes it harder for small sites to acquire traffic than in the global market. UGC sites are also hard to survive since the censorship by Government.

      I am not sure affiliate marketing is going to be a big hit in China. We shall wait and see.

      Hope it helps.

      Alex

  2. Tami says:

    Hi Alex, this is a very helpful and friendly post. I started my own blog a few months ago and decided to turn it into an affiliate marketing business. I thought it would be so hard to set up a website in the first place, but we actually don´t really need any previous knowledge. I agree with your tips and I think it´s a cheap investment with a lot of potential. Cheers!

    • Alex Y says:

      Hi Tami, thanks for giving it a read.

      I do agree with you that monetizing a blog through affiliate marketing is not that difficult and it does not requires a specific skill set. If you are willing to learn and put some efforts in implementing them. It will definitely work like a magic. The best part is, the start up fee is really small as compared to any other traditional business.

      Alex

  3. Bob says:

    I found your website to be very helpful and informative. It kept my attention all the way through with very good info that was explained to where I could understand and comprehend it. I always find information on Wealthy Affiliate to be captivating,being a WA member myself! And your website was easy to maneuver with no complications. Your site looked nice as well, which is always a plus, but the volume of good solid advice is a must. you provided that solid advice in terms that I could easily understand. Nice job

    • Alex Y says:

      Hi Bob. I am glad that you like my site. I try to make it as simple as possible so that I could vocalize my thoughts and easier for people from different background to digest the information. I really appreciate for spending your time leaving your comments here.

      Have a good day!

      Alex

  4. Hussein says:

    Hi Alex, I just started blogging and want to do affiliate marketing.

    1. I’m in Canada and I’m not sure where to start for the marketing portion. Any ideas? I want to use Amazon but I’m not seeing a Canadian one.

    I’m a programmer so it’s easy for me to code my site. Content is hard for me but I’m learning, I write about anything that’s important to me. Do you think focusing on too much is a bad thing?

    • Alex Y says:

      Dear Hussein, thanks for dropping by.

      May I know what niche are you blogging about? If you can’t find any products that are related to your niche in Amazon, you could try ShareASale as it works in Canada too.

      I am glad to hear you are a programmer, this is a big advantage when it comes to site configuration. Creating content is difficult but it gets easier and better as you do it over and over again. The most difficult part of monetizing a site is not creating contents but to get them out there via social media (e.g. Facebook, Tweeter, Reddit and etc.)

      One thing you have to also keep in mind that you have to write things that are important to your audience, not yourself. Great content provides value to its audience. That value, whether informative, persuasive, or entertaining, is what inspires readers to share an article or learn more about a product or service. As a blogger, we are often stuck in our own heads. But content creation is an act of communication, not merely an act of expression. This is important when it comes to affiliate marketing as you are providing your audience solutions, not sharing your stories.

      You are going in the right direction. It is always good not to have a broad niche. Narrow your focus on a particular subject so that the audience knows what you are good at. For example, do not blog about Work Out Tips and Motorbike at the same time. Both of them fall on different categories and they just can’t simply be put together.

      Hope my comment helps.

      Let me know if you have further questions.

      Have a good day.
      Alex

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