This question seems to be perpetually doing the rounds on the internet, so I thought I’d put my 5 pence worth in. It’s the age old problem isn’t? Being able to make money without having any or spending any. The truth of the matter is, if you’re looking to use the internet to make money online, you need to get your head around the fact that it’s pretty unlikely that you can achieve this without spending a penny. The other thing you need to get your head around is that it’s very unlikely that it’s going to be a quick process either.
People who are looking to make money quickly and with no investment are destined for disappointment. I don’t want to be a negative Nancy, I just want to be straight with you.
Now it’s not all doom and gloom. The reason why the internet has become synonymous with being a quick, easy and cheap way of making money is because it can be quicker, easier and cheaper than starting a traditional offline or franchise business and some approaches require less investment that others. But it’s also because there are lot of unscrupulous marketers out there trying to fool people into believing this.
So today I am going to to look at some different approaches to making money online and the costs associated with them so that you can relate them to your situation and make an informed decision about where the best place to start is, for you. It’s important to have this information so you know what you’re getting into so as not to waste what precious money you do have.
Selling Your Skills
The best place to start if you literally have no money could be selling your skills. But you do have to have some skills in the first place! There are plenty of freelancing websites that you can use. If you have skills in graphics, writing articles and blog posts or doing voice over, you could use these websites, such as Fiverr, Freelancer and Upwork, to sell you services. Some people can make a pretty good income from doing this, but these people have spent a long time and a lot of effort perfecting what they do and building a reputation for being good at it. They have also invested money in tools and software that enable them to produce good quality material.
Alternatively you could write your own eBook and sell it on Kindle by Amazon. This was how I first started making money online.There is a ton of information freely available about how to get up and running with this and Amazon also provide a useful and free guide, under their ‘independently publish with us’ link at the bottom of their page. The start up cost for me was about $5 to buy a photo to put on the front cover. I got my brother to design the front cover for me, if you don’t know anyone who could do this or can’t do it yourself you could either pay someone, finding them on the above website suggestions, or use some free software like canva, which is awesome!
Putting your eBook on kindle is free and there are loads of groups on Facebook you can join and use other social media platforms to promote it. Again some people make a very significant income from selling books on Kindle and the better you are at it, you can use what money you make to invest in learning and marketing so become more successful. In my experience it really is the best place to start if you are limited for funds, as you can get up and running for a very minimal cost.
Get Your Own Website Up And Running
You do not necessarily need your own website to begin with the above options, however I truly believe that you must have one if you want to build a lasting and sustainable online income. To do this you will have to invest some money. It doesn’t have to be a fortune. You will need a domain name, which you can get from somewhere like namecheap. The prices of domain names vary massively but it’s more than possible to get one for $1-2. You will need website hosting too which is where things can start to get a bit more expensive. Hosts like D9 Hosting offer reliable and reasonable hosting services, and you can expect to pay about $80-100 a year. It is worth the investment. However if this really is not possible for you at the moment, I will tell you how I got my website up and running for free when I first started out. I found a great community aimed at helping to make money online. They have their own hosting service and will host up to 2 websites for you for free. There is also some free training about how to get started. This is a fantastic way to get up and running if you don’t have much money. There is an option to upgrade and you then have access to more detailed and ongoing training about how to use your website to make money plus hosting for up to 25 websites. Again this is very much worth the investment once you can afford it. But it is also worth checking out this opportunity as you can get a website going for the price of a domain name, ie a couple of dollars. I have never come across any other company providing this service!
The beauty of being an online business is that your customer base is potentially global, so once you have a website up and running you can use it to promote yourself or your brand to anyone with internet access. Monetizing your website can be done in so many different ways. Affiliate marketing is one of the most popular ways to do this. Affiliate marketing is basically selling other people’s product for a commission. I have written quite a few posts about affiliate marketing and how it is one of easiest ways to make money and how to make it work for you.
Creating your own products to sell, is a more time consuming approach but can be more lucrative as you can keep 100% of the profits. It costs time and money to create your own products so it’s not really relevant for this particular blog post. This is something that I am currently in the process of doing so keep your eyes open for more information about it in future posts as post about my experience.
Selling physical products via Shopify or amazon is another way to make money online. They can be be very lucrative indeed, but they are not going to work for you if you don’t have money to invest. You need to pay for stock, shipping, storage and advertising just to mention a few things. This is not the place to start in my opinion. But once you have some experience of online selling and some investment to put into it can be very worth while and still considerably cheaper than other offline business opportunities.
Whichever approach you take, remember that like any business venture it will take time money and effort to succeed, but if you’re willing to do what it takes, there is no reason at all why you cannot make a success of it.
Good luck and let me know how you’re getting on….
Bye for now 🙂