How to make money online with a little or no investment – this article is basically for those planning on starting a business but don’t know which business to start. However, some of the ideas stated below is not for everyone, especially those who are not familiar with the online market. However, if you fall under this category, then don’t be deterred, you can still hire somebody to do the odd parts for you. Remember, you have to think like an entrepreneur – which you probably already are. Steve Jobs probably wouldn’t have achieved half of what he have achieved today if he didn’t learn to hire people. He had the ideas but didn’t have the skills; so, he hired people with the professional skills his ideas required.
1. Online Retailing Store
This is one cool way on how to make money online with a little investment. This method has the potential to make you thousands of dollars on a regular daily, weekly or monthly basis. The Internet has come to stay. Hence, there will always be online retailing stores, even in the next 2000 years. Remember, sites like Walmart, Amazon and the likes all started small. As a matter of fact, Amazon started as an online book store and later became billions of Dollars Company.
Nowadays, people are too busy to patronize offline stores. People prefer to sit in their offices, home or business places and order whatever they want, and in no time it would be delivered to them.
Another good news is that you can easily set up an online store without hiring anybody. For example, you can use Shopify, woocmmerce… and set up a store within the next one hour. If you’re the visual type of person, you can check out some tutorials on YouTube – that will guide you on how to do it – step by step. The first thing you need to put into consideration is your niche. What would you like to sell, everything? No, don’t sell everything. Start with one type of item, for example, T-shirt. It is better you open online stores with different niches than putting everything in one store. What I’m trying to say is that you need to specialize if you want to succeed. Remember, you need to start small. As time goes on, you can expand and probably be like Amazon or eBay.
Why You Must Pick a Niche
The major reason why you need to pick a niche is that you’re going to be targeting different types of audience through Facebook and Instagram. Now, let’s say hypothetically, using Shopify, you set up an online store and name it THE CAT STORE. After setting up everything, including synching your credit card to your store. The next thing you’re going to do is to look for reliable suppliers from China through Alibaba or Aliexpress – I’d recommend Alibaba, since you’ll be buying in bulk. Remember, your inventory must be based on your store niche. Since we picked cat niche, we’re going to be selling only items related to cats. That way it will be very easy for us to target our potential buyers. After setting up your inventory, list your products on your store.
There is a plugin called Oberlo, it makes things easy. To avoid going through the stress of taking and uploading pictures, writing specification, etc. you can use Oberlo to import the pictures and details of the items in your inventory – since you bought them from Aliexpress or Alibaba. Let’s say you have some cool cat T-Shirts in your inventory that you ordered from either Aliexpress or Alibaba, what you have to do is to go to Aliexpress or Alibaba and look for that same cat T-Shirt and import the pictures and details to your shopify store (just with one-click). That way you can list all of your products in a couple of minutes. Now let’s move on to how to bring buyers to your Shopify store.
How to bring buyers to your Shopify store
Now let’s say you have some really nice cat T-Shirts in your inventory, the next thing you need to do is to promote the cat T-Shirt using Facebook Ads. With Facebook Ads you can target any type of audience from any location. Now you need to target cat lovers residing in your location. Let’s say you stay in New York, target cat lovers who live in New York (so that delivery will be easy for you).
Now, your nice cat T-Shirt will be shown to thousands or millions of cat lovers who live in New York. Since they love cat, 10 out of every 100 viewers of them are very much likely to place an order. Gradually, you’ll start getting a lot of orders if you do things the right way.
How Do I Deliver The Item To My Buyers?
You’re going to charge shipping fee for every product, through the shipping fee you can raise enough money to hire some exuberant young people who can do the delivery quickly. That way, they can have the products delivered to your customers within hours or days. Remember, the more quickly you deliver, the happier your customers, and the happier your customers, the more they are likely to buy from your store. At the end of the month, you’ll subtract the shipping fees from your main earnings and use part of it to pay them (your couriers).
You can really make a lot of money with this. Just take a quick glance at Alibaba, you’ll see how cheap things are – things are really cheap there. Since you’ll be buying in bulk, things will be even cheaper (I’m talking… really really cheap).
You can create different online stores with different niches and you’ll have limitless products to sell to your potential buyers. For example, in the niche alone, you’ll have countless products to sell.
Furthermore, you can also list your products on eBay, Amazon and Craigslist.
2. Drop Shipping Business
Ever heard of the word drop shipping before? Well, drop shipping is quite similar to the above idea. The only difference is that in drop shipping, you don’t need inventory (you don’t need goods in stock). You can use the exact steps I used above to create a Shopify store. After creating your store, look for what is trending (what is currently selling) – products that are on high demand using eBay or Amazon. After getting some products that are on high demand, the next thing is to go to Aliexpress and look for that exact product. You’ll notice that if the product is for example, $100 on eBay or Amazon, it will be $50 on Aliexpress. Now, list the product using Oberlo, just like I explained above.
To get buyers, you need to leverage the power of Instagram and Facebook Ads. Remember, you need a niche. If you can’t find trending products relating to your niche, just go ahead and pick any product that will be very attractive to your buyers. Now, let’s say your niche is LION, go to instagram and search for lion or lion lovers – you’ll see tons of lion-related pages with thousands and millions of followers. The followers of those pages are all lion lovers. So, they are your targeted audience, since what you’re selling is lion-related.
Select any of the pages – since you’re just starting, don’t pick a page with millions of followers, because the influencer (admin) will be expecting you to pay more. Pick a page with a couple of thousands of followers. Now, send a PM or an e-mail to the influencer (admin). Start by appreciating his good work. Tell him that you’re a LION lover and that you’re a big fan. Proceed by asking him how much he charges to do a shout out – that you have some cool Lion-related T-Shirt (let’s assume you’re selling a T-Shirt) in your store. And you’ll like to do a shout out. After giving you his price, if it’s too high, try to talk him down.
After agreeing on the price, go ahead and pay him (make sure you pay to the right person, beware of scammers). Some people might charge you $50, $70, $100 or $150, it just depends on the admin (influencer) and the amount of followers the page has. After payment, send him some good pictures, details and the link of the product (could be anything T-Shirt, necklace etc.) listed on your Shopify store.
You will Start Receiving Orders
Now, he will post your product with the pictures, a little amount of details and a link on the page. Thousands of followers on that page who are lion lovers will see your cool lion T-Shirt. Gradually, you’ll start getting stream of visitors to your store (which means you’ll start receiving orders).
Remember you don’t have the products in stock. Now, what you’ll do whenever you receive an order is to copy the person’s address and go to Aliexpress and make an order using the person’s address. After placing order, you’ll receive a tracking code, send it to the person (using a customized email if possible). The product will be shipped directly to the person. When making order, always remember to use E-packet shipping service. You will be charged extra small bucks, it’s not a big deal because just 10% of your gain will cover it. Why do you need to use Epacket? Aliexpress free shipping takes approximately 1 month to deliver, but with Epacket, they’ll have the product delivered to your customer within the period of 1 or 2 weeks (which is quite fair).
A QUICK ANALYSIS
Now let’s say you saw a product that costs $10 on Aliexpress, and you list it on your store for $30. And you successfully make 100 sales in a day. $30 – $10 (product cost of product on aliexpress) = $20 – $4 for E-packet shipping fee, that’s $16 gain for each product. $16 x 100 (sales a day) = $1600 (profit in a day). I’m telling you, with this method you can make a lot of money. This style of online retailing is what is known as drop shipping.
Another good thing is that even if you’re completely broke, you can still venture into this business. Remember, your credit card will be synched to your Shopify store, that means whenever an order is made, the money will be paid into your account (the one linked to your shopify store). Now you can go to Aliexpress and make an order for the person using part of the money.
3. AMAZON FBA
Ever heard of Amazon FBA? In case you haven’t, it is a platform on Amazon in which as a merchant you can send products to Amazon and they’ll sell them and send the money to you. In other words, Amazon allows merchants to send products in bulk to them, and they will sell them, take a small proportion of the money for their service and send the rest to the merchant.
Now, how do I leverage this opportunity? You can do this by buying products from Alibaba and send them to Amazon to sell for you. Remember, things are extremely cheap on Alibaba, especially when you’re buying in bulks. What you can do here is to look for a good and reliable supplier from China via Alibaba or go to China if you have to. Look for trending products and order them in bulk; send them to Amazon to sell them for you.
This is a really cool and easy way to make money through Amazon. The only stress you have to go through is ordering the products and sending them to Amazon – which is not a big deal. Amazon will go through the stress of selling the products and in return they’ll take a small percentage of the total money for their service. Believe me, with this idea you can make a lot of money.
4. Selfie Drones
Using selfie drones to take pictures is another cool business you can start, because I don’t see the taking of selfie going extinct in the nearest future. As a matter of fact, selfie has come to stay. Nowadays, people are sick of taking pictures of themselves without a selfie stick. We see it as an old school method of taking pictures.
You can buy a drone with an high definition (HD) quality camera and take pictures of places (where ever you go), people or things. Start a blog and YouTube channel, blog and YouTube about them. That way you can make some cool cash. Or you can sell the pictures online through amazon or other photo vendors, such as istockphotos.com, shutterstock.com etc.
5. Social Media And SEO Consultant
Social media has come to stay. Today, 8 out of every ten person use social media one way or the other. A lot of business establishments now prefer Facebook, linkedin and the likes for promoting their businesses. If you’re an expert in social media, you can become a consultant. Big companies and small business owners will hire you to work for them (as a freelancer).
SEO, you can become an SEO consultant. People keep building blogs, ecommerce and various types of websites. Building these websites are quite easy – virtually anybody can set up a website using WordPress or other kinds of platforms. The problem is getting organic traffic to these websites. Now this is the part where website owners will need some SEO experts to come into play. They need you to nurture their websites.
If you currently do not have any of the skills, you can gather some books about them and start studying. Also, you can buy some courses from Udemy (most of the courses are videos).
This is not the end of the list; I’ll add more later.