Last Updated: December 09, 2021.
If you’re looking for a side hustle without having the capital for the initial investment, there are a lot of online businesses you can try. It’s possible to build a business or work remotely with a small amount of money or even none.
This article will walk you through the types of online business ideas to try without having to spend a fortune. There will also be tips and tricks on how to start from scratch.
Nowadays, running a blog as a business can be a good source of income. Examples of blog monetizing methods include displaying ads using advertising networks, doing partnerships and sponsorship with brands, or selling merchandise and digital products.
You don’t need a lot of money to start a blog. You might need to pay for a hosting service subscription. However, you can still start with a minimal budget and improve your blog little by little as it grows.
Think of a unique domain name when creating your blog. It is the address that people will use to access your blog. A domain name will look like itsmyblogexample.com. An appealing domain name can help boost your online reputation and improve your blog’s chances of success.
Before registering your domain name through a registrar, you can use a domain checker to ensure its availability. If you need blog name ideas, there are also tools for that.
2. Freelance Writing
If you have practice with running a blog, you can make money by offering a freelance writing service. You can advertise through a banner on your blog or create an account on a freelancing site like Fiverr.
Your blog can double as your writing portfolio, so make it appealing for potential customers. Apply SEO principles to your blog to boost your online presence. That way, you will attract more clients.
You can also network with other bloggers or freelance writers on social media or job portals. Keeping in touch with them while showcasing your writing portfolio can help you find writing projects.
If you don’t have a blog, there are other platforms to showcase your writing skills. It can be your social media account or an online portfolio to display your writing samples or past projects.
In any case, make sure your writing portfolio is neat and professional.
3. Start a Dropshipping Business
Traditional online business models require you to have a warehouse to stock your inventory, pack the products, and send them to the customers. It can cost a fortune and doesn’t guarantee instant success.
Dropshipping is a modern alternative that circumvents a lot of these issues.
When you dropship products, your suppliers take care of stocking and shipping them to customers. You only need to take care of the marketing and customer service on your online store. As a consequence, your business expenses will be drastically reduced.
The hardest part of a dropshipping business is finding the right supplier that can provide you with great products and on-time shipping. Make sure to test the product and the supplier’s service before conducting business with them.
4. Create and Sell Digital Products
If you are an expert in a field, you can share your knowledge in ebooks and sell them on the internet. Writing in itself is free, although you may need to take care of research and living expenses and pay for the software to convert your writing into an ebook format, like .pdf or .epub.
Do market research to learn the average price of ebooks on similar topics. Then, aim to sell your ebook at a slightly lower price to entice people.
If you have a blog, you can promote your newly written ebooks on it. If you don’t, you can sell them on other websites.
If you are not into writing, your skills can be shared through online learning courses. You will need to take filming equipment expenses into account, however.
You don’t have to use high-end equipment upon starting. A phone camera with a good angle and lighting and a single clip-on microphone can work just fine.
Your online course content can be uploaded to Youtube to earn money through the Youtube Partner Program. Alternatively, you can apply to a learning community or boot camps that are looking for a teacher.
5. Offer Web Design Services
Since a lot of businesses and organizations have realized the importance of an online presence, the necessity to have a website has grown tremendously. In the US alone, the overall employment of web designers is predicted to grow by 13% between 2020 and 2030.
That’s why offering web design services may be profitable. Since it’s common to hire web designers on a per-project basis, you can find success as a freelancer.
Creating an appealing online portfolio will improve your credibility and help stand out from the competition. In addition, network on various social circles to increase your presence and connect with potential clients.
You can also promote yourself on social media platforms by sharing design tips to show your expertise in the field. Lastly, don’t forget to sell your web design services on freelancing websites.
6. Affiliate Marketing
Affiliate marketing involves generating a commission from purchases made using a link that is assigned to you.
There are several ways to implement affiliate marketing. You can use affiliate links on your blog posts, YouTube videos, or social media posts.
You can join an agency or community network to connect with the companies that are looking for affiliate marketing partners.
A lot of companies don’t require their affiliates to be very popular or have a lot of followers. Make sure to do your research and look for the best option for you.
7. Domain Flipping
A domain name is a word or a set of them used to access a website. Anyone can claim the desired domain name by buying it from a domain registrar.
Selling domain names can be profitable if you can come up with good domain names that will become highly sought-after in the future. Alternatively, it’s also possible to make money selling generic domain names that have commercial potential.
To do this, purchase a domain name from a registrar – this will set you back between $9 – $20. If someone wants to use that domain name, you may be able to sell it for hundreds or thousands of dollars more.
Some domain registrars accommodate people engaged in this business by connecting them with the domain buyers or advertising. Alternatively, you can sell domain names on a domain marketplace.
8. Sell On-Demand Products
The demand for each popular product peaks at a different time. Currently, healthy lifestyle products and working-from-home productivity tools are trending due to the pandemic.
Since the popularity of products changes seasonally, you can modify your inventory or add new products while keeping up with the latest trends. If a product is trending, it may also be easier to find a supplier for it.
However, the downside of selling high-demand products is how many competitors you’ll have. You’ll have to put extra effort into marketing so you get noticed and stand out from the crowd.
9. Sell Handmade Items
If you’re into arts and crafts, you can sell handmade items. You can make them in batches or after a customer orders one. If you make products in bulk, you’ll minimize the cost of the raw materials.
You can market your hand-crafted items through word of mouth, social media, a blog, website, or marketplaces.
If the number of orders is low, you’ll have more time to fulfill them. However, you will need a schedule or order limit to prevent an overload as your business gradually grows.
Consider hiring people who can produce the items or take care of business administration if you feel overwhelmed running your business on your own.
10. Develop an App
If you know how to code and have an idea to solve a problem that many people have, you can develop an application. Alternatively, you can also offer your app developing skills to a company.
There are many full-time, part-time, and freelance app developer positions available. In order to showcase your work, consider creating a simple but effective app and featuring it in your portfolio.
If you’re working on an app, do not hesitate to ask for help with its development. When you have a beta version ready, launch it to see how users react to it and what they have to say about its performance.
Taking the data and feedback into account, work towards improving the application. If it functions well and meets your expectations, look for ways to monetize it or propose the app to investors.
There are numerous opportunities to make money online. Whether you’re a freelance web developer or writer or if you come up with a product or service you can sell, there are ways to capitalize on your skills and ideas without having a lot of money for the initial investment.
To succeed as a freelancer, advertise yourself by creating an appealing online portfolio to convince potential employers. Having a solid social media presence and a blog will also communicate your credibility and expertise. This way, you’ll improve your chances of receiving job offers even without actively seeking them out on freelancer marketplaces.
Even without a starting capital, it’s also possible to be successful at selling things online. If you want to engage in dropshipping, sell trending, digital, or handmade products, you’ll need a solid business plan and determination to make your business grow. Remember to conduct extensive market and supplier research so your efforts do not go to waste.
We hope this article has been helpful and you’ve decided on an online business that you’ll pursue. Good luck!