Starting an ecommerce business without spending any money can be challenging, but not impossible.
Ever dreamed of running your own business but don’t quite have the capital to make it happen? When starting a business, finding a good idea is just the beginning. The other half is funding it. But having zero or minimal capital doesn’t mean your entrepreneurial journey is over before it even started, especially in the world of eCommerce.
Unlike a brick-and-mortar business, you don’t need a lot of startup capital to start your business online. You just have to be willing to put in the hard work and some creative thinking to be successful.
Here are some tips that can help you get started in pursuing your dreams without having to spend any money.
Sell handmade items
Do you enjoy making handcrafted items? Turn your hobby into a successful business, and earn additional money on the side, by selling your own handmade products. Handmade items such as soaps, jewelry, candles, woodworking projects, and are incredibly popular with a specific audience who appreciate the thought and processes that goes into creating the individual items. If you’re already making these items as a hobby, why not try selling them online?
Use free platforms and resources
You can use free platforms such as social media (Facebook, Instagram, Twitter, TikTok) to build your online presence and attract potential clients. Post photos and videos of your products and highlight their benefits. You can also take advantage of free resources such as online tutorials, tools, and templates to help you with your business needs. For example, use Canva or Pixlr to create eye-catching content or designs for your products, and Google Drive to store and share documents.
Create a website or blog
If you have the expertise or a passion for a particular subject, you can build your brand with a blog or website. Free website builders such as Blogger, WordPress or Wix are great tools to create a website or blog for your eCommerce business. Use these platforms to showcase your products, share valuable content such as photos, videos, and links, and engage with potential customers. They key is to post original content that is useful to your target audience and to post on a regular basis. When your customers come to know and trust you, they will naturally click on your advertising or buy the products you recommend.
Leverage free marketing strategies
Social media is one of the best free marketing strategy to promote your business. Reach out to influencers and collaborate with other bloggers or businesses. You can also consider being your own influencer. All it takes is patience, some social media knowledge, and interesting content to share – all of which can be done for free. Start by building your social media presence on a popular platform, such as Instagram or TikTok. When you have enough followers, it will lead to opportunities down the line to make money through selling merchandise, blogging and many more.
Sell digital products
Digital products are something you can create and sell with just an internet connection, making them a superb way to start an online business with no money. When a customer purchases a digital product, it’s delivered instantly, making it a great model for bringing in a passive income. Start by identifying an area you have more knowledge in than the average person. Then, do some research to see what problems people in the space are struggling with and how you can help. The most popular formats tend to be eBooks, guides, templates, expert interviews, online courses, and recorded webinars.
Source for funding
Even if you’re able to launch with limited resources, there may come a point in time where you’ll need funding if you wish to scale. Consider ways to find a source of funding, whether that’s sticking to your day job for a while, borrowing from friends and family, or taking out a small loan or credit card. If you have an innovative business idea, you can consider crowdfunding platforms such as Kickstarter to raise money from supporters.
Don’t lose heart if you don’t have a huge amount of capital to back up your business from the start. Many entrepreneurs have created wildly successful businesses from scratch – oftentimes with no outside funding, while working a day job. The trick with any successful online business is to make sure you’re in a profitable niche market. A great idea, the willingness to commit yourself for the long haul, and some key marketing strategies will see you further than you think.
Interested to be your own boss? Sign up as a Lazada seller today.