Yes, you heard me; zero capital. Starting a business without capital is one of the incredible privileges that we have in the 21st century. Sadly, very few people know about this. Not to worry because you are about to leave that clique.
Business 1: DropShipping:
This is one business that I rarely hear people talk about. This tells you it is relatively unknown. DropShipping is a type of online business whereby you operate as a store owner who receives orders for goods. However, in this case, you don’t get to have a store whereby you house the goods that you receive orders for. When you receive the orders, you can then make purchases from e-commerce stores like Alibaba or TradeKey or other stores (as applicable to your orders)
How it works
All you simply need to do is collect orders from your customers and give them a deadline that it will take for them to receive the goods based on the information from the third party. Then you may proceed to make the purchase from a third party and it is shipped to the customer directly. The third party handles everything from packaging to shipping. You do not get to pay for shipping fees as there is no need for you to even handle the goods.
– Pressure from the business is low since you basically act like a middle man
– You can offer a wide range of products
– There is potential for high turn-over rate for hot products in the market
– There is almost no risk in the business
– You don’t have to worry about warehousing the products
– You are free from the handling, labeling, and packaging
How to start
The first thing you need to do is identify good sellers. You have to look out at a number of factors like the duration for delivery, reviews from those who have used the sellers etc. Once you have verified this, you will need to know what kind of products you want to list as available for purchase by your customers. They have to be products that are in demand in the market. You also have to compare the prices of the products with what is available in the local market so you can know if you can offer a better price to your customers etc.
Business 2: Kindle Direct Publishing:
Do you enjoy writing? Then this is definitely for you. With Kindle, you can begin to publish your books. The good news about this is that your market is not restricted, it is global! You can always track the number of sales you make on each book that you publish.
How it works:
When you register on the site, you are immediately eligible to commence publishing. The more the number of sales you are able to make, the more your income will increase. However, Amazon will deduct 30% of your earnings if you are not a US person or if you do not reside in countries with tax treaties with the US. You will get your earnings in US dollars 60 days after every month that you have made sales.
– The market is global which means more chances to make sales
– Once you publish a book, you will continue earning royalties for life
– You can publish books at your own convenience or pace
How to start
Go to Kindle Direct Publishing and register. Once you have done this, you can start publishing your books. However, it is important that I state that Amazon frowns at plagiarism. They want fresh works. So, even if you do research for your books, learn to rewrite them using your own words to avoid troubles with them.
Business 3: Affiliate Marketing:
Over the last couple of weeks, I have explained the goldmine that is in affiliate marketing. What you probably don’t know is that anyone can engage in affiliate marketing, even an undergraduate and it is not time-consuming. In brief, Affiliate marketing is an online activity where you promote products and get paid a commission for every sale that is made through your promotion.
How it works:
Once you sign up to an affiliate program, you can then select the products that you want to market. It is important that you choose what the market needs (or what people will like to buy). Once a sale is made through you, you will get a percentage (commission) from it. How then do the companies know they made a sale through you? They know because once you sign up with the company as an affiliate marketer, you will be given a unique tracking link to use when promoting their products.
– You get to work at your own pace. i.e. you can determine when to work
– Unlike Fiverr where you only earn a pay for a specific work, with affiliate marketing, you can earn repeatedly from each time you work.
– Once you automate it, it can keep fetching you money without your attention for days.
– You get paid directly by the company, hence no delay
– It is less time-consuming.
How to start
You sign up at an affiliate marketplace. There are a couple of them online such as Click Bank, Commission Junction, Share A Sale, Pay dot com etc. Once done, I will also advise that you focus on evergreen niches like health, wealth, and Relationship etc. Evergreen niches are niches that regularly earn money.
In Conclusion, I maintain that there are several opportunities all around that are begging to be explored. You just have to identify them. And when you do, you have to conquer what has held many people back for years despite the knowledge they have. I am talking about procrastination. Start now!
A Chinese proverb says, “The best time to plant a tree was ten years ago. The second best time is NOW!” So, get to work now and enjoy later.