Think you need to go into piles of debt to finally start an Internet business?
We know hundreds of Internet business owners making $100,000+ per year who got started for less than $500… many for less than $200.
So how do you keep costs low? Whenever possible, get your hands dirty and learn how to do it yourself!
Avoid taking out bank loans, borrowing from family, or maxing out credit cards. Yes, some businesses WILL require financing to get off the ground. But if you’re borrowing money, you should do TWICE the market research you think is necessary to prove that your business model is solid and that there is a viable market for your offer.
Trim your expenses and take advantage of every available free and low-cost resource to start an Internet business (and there are plenty of options online!).
As your business starts to grow, you can put reinvest your profits to grow it even bigger.
Don’t put expenses like new office furniture on your credit cards. You don’t NEED this kind of stuff to start your own online business. It might be nice… but won’t your friends and family be more impressed by your increased income than your fancy leather desk chair?
Look, all you need to start an Internet business is the following:
- A computer that works (with a 56K modem or better)
- Somewhere to put the computer (your kitchen table is fine!)
- An Internet connection (a high-speed connection if possible, but dial-up is still doable!)
- A domain name (shouldn’t cost you more than $8.95)
- A website (you’ll learn tons if you build it yourself, and that’s FREE!)
- Someone to host your website (shouldn’t cost more than $27-$47 per month)
… And of course, a bit of determination to succeed!
How much have you spent so far? Assuming you already have a computer and an Internet connection, all you’ve spent in your first month is about $50-$60! That’s the beauty of starting an Internet business… There are so many ways to keep your expenses low, provided you are someone who isn’t afraid of a little elbow grease.
A generous start-up budget for someone willing to do most of the dirty work themselves and take advantage of all the free resources we give away in this course would be $1,000. But $500 is more than enough to start your own online business!
And since you can spread costs out over a few months as you get things up and running, there’s no reason to put yourself in a precarious financial situation. Remember, you’re not launching a Fortune 500 company right out of the blocks with venture financing and dreams of an IPO.
So long as you’ve found a niche that isn’t being serviced, you can start an Internet business on a shoestring budget, then funnel revenue back into the company as it grows naturally. Be smart, and plan exactly how you’re going to profit!