Many people believe that building an internet business means putting a lot of their hard earned cash up front, in fact some people believe that they need to invest thousands of dollars to set up and online business in the first place. Want to know the truth? It really doesn’t have to cost much at all, not at first in any case.
Building a business takes time, yes it takes money too, but more time than anything else.
It also depends on what kind of online business you have in mind to set up. Here are a couple of great examples below:
- Ecommerce (Selling goods online, physical or digital products)
- Offering services (Website design, copy writing or offering internet marketing services)
- Blog or Niche Site (Creating valuable and resourceful content and promoting useful affiliate products and services)
Building a Website
What ever type of business you decide to set up, you’ll need to think about the initial setup. The initial setup costs all comes down to how you’re going to answer the following question:
Are you going to outsource or hire a web designer to do the job for you, especially if you have no technical knowledge whatsoever of how to build a website yourself. Or are you going to save money and learn how to do it yourself?
Hiring a web designer and depending on the technicality of the design aspects and requirements for your website, can costs literally thousands of dollars, as well as take a lot of time and waiting around. If you don’t have that kind of money to invest in building a website, I’d highly recommend that you set one up yourself.
Don’t look alarmed, it’s not that difficult.
Purchasing some affordable web hosting and using WordPress to create a website in my mind is the best and most cost effective alternative to hiring a web designer. Even if you go all out and purchase a high quality premium theme for your site, it’s still going to cost you a fraction of what it would cost to hire someone in to do the job for you.
These days there are WordPress themes and plugins available for most if not all types of online business ventures, whether you want to build an ecommerce website or set up your own local business directory website.
If you’re not too sure where to start with building a website yourself using WordPress, please check out our resource page.
SEO and Internet Marketing
OK so that’s the cost of setting up a website out of the way, but it doesn’t stop there, as then there’s the cost of SEO (search engine optimization) and internet marketing services.
Again you can hire an SEO or online marketing specialist to help you promote your online business, or you can learn to do it yourself slowly and save yourself a lot of money.
My recommendation if you can’t afford to hire someone to help you with marketing and advertising is to learn to do it yourself. Visit various reputable blogs that provide useful tips and advice on internet marketing, SEO and using social media for promoting your business. Blogs like this one and others like the ones listed below:
- CopyBlogger (Copy writing, content marketing)
- SmartPassiveIncome (Online business and entrepreneurial tips)
- ChrisDucker (Small business tips)
- Nathalie Lussier (Small business strategies and tips)
Growing Your Business
As I mentioned at the start of this post, building an online business takes a lot of hard work and time, time is the most valuable input you can invest in building your business, money is important too, but you’ll find that you’ll make decisions to invest in your online business financially where and when needed and possible.
Growing your online business doesn’t happen overnight or in a couple of weeks or months even, you may even find yourself working your rear end off for a good few years before it all starts to pay off. Be patient and stay focused not on how much money you’re going to throw into growing your business, but how much time you’re going to invest into it.
So if I did all this myself let’s say, how much would it really cost to set up an online business?
There’s no ball park figure, OK, if you took everything else away and focused on just the set up alone, that’s getting a domain name and a website with WordPress, and a premium quality theme, the setup cost alone could be anything around $100 to $150 as a guess, which in my mind isn’t bad at all.
Image credit: http://www.flickr.com/photos/seoplanter/