Can I start on shoestring budget?
Yes you can…
Start on shoestring budget. A lot of people get put off starting an online business because they believe that they have to invest a ton of money to get started, which is true for a traditional business but not so for an online business.
Traditional business (say a franchise or shop) you need the following:
The upfront payment or the initial layout cost, which could be anything up to and over hundreds of thousands of dollars or pounds for the business product/service.
The cost for premises i.e. shop/workshop office/storage
The running costs i.e. the electricity, the heating
Office equipment: Furniture, Computers, printers, shredders, phones, phone line, the Internet
Staff if needed, you then have to pay the staff.
All this adds up and you have spent money and put yourself in debt before you have even started training. Think about this, say you by a franchise, the intial outlay is £250,000 (for example). You have to pay that back and all the other monthly costs on top just to break even. How long would that take you? After that you can then start to profit.
Online Business you need the following:
Laptop, desktop, tablet, smartphone – Most people on the planet already own one of these devices’
You can ran it from home (or anywhere in the world) so you’re not occurring an additional costs or bills, you just pay your monthly bills as you normally would each month (electric, heating, phone, internet)
Of course you pay out for the monthly costs for the product or service that you use, hosting for your site, your domain name which you can get for a few pounds.
Marketing – you can get started by promoting using Facebook posts, Tweets on Twitter, Video marketing with YouTube, blogging. You can use paid advertising (Bing, Facebook, Twitter), by the method of Pay-per-Click (which you will learn more about when you start your business) but with PPC, you control how much you spend & you can get started for just $5.00 per day.
One of my key products that I promote, which you will know about by now if you have read my blogs and been on my site then you know it is The Six Figure Mentors.
With The Six Figure Mentors – Yes it costs me $97.00 per month but then with that I get:
Up-to-date education and training (onDemand training) to help me master marketing
A community of like minded successful people – Surround yourself with successful people, copy what they do and you will get the same results.
Free hosting for site
Lead capture page software
Live daily and weekly trainings
Archived training video (OnDemand)
Plus commissions for promoting The Six Figure Mentors – so you get paid while you’re learning
In conclusion it’s a lot cheaper and easier to start an online business.
Also with an online business you can test drive it. Apply for it, $29.95, go through the application, and speak to a SFM Consultant. They will answer any questions that you may have way better than what I can and it’s never too late to change your mind.
So that’s how you can start on a shoestring budget.
To your success