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 • Business  • How To Start a Business With No Money in 2021

How To Start a Business With No Money in 2021

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Want to start a business with no money? Do you dream of becoming your own boss and taking your creative ideas to the next level? In this article we will show you how to start a business with no money

You might think that 2021 is the worst year to start a new business, but In fact, this year is probably the best time, because people are spending more time online than ever before. According to research, 4.66 billion people around the world used the internet in January 2021, which means it was up by 316 million (7.3 percent) since this time last year.

This means there is a bigger chance that your business will take off because there are more people shopping online, researching, or looking for things that interest them. Many successful business owners know this and have taken advantage of this discovery and found new clever ways to start a business with no money in 2021. So let’s jump into it, how to start a business online? 

How to start an online business

Typical questions you might want to know right now might be; What is a good business to start? How much does it cost to start a business? How do you start a business? In reality, it does not have to cost so much, if you know where to budget. It often depends on what type of online business you are thinking of running, whether it is through your own domain, for example by using platforms like one.com with WordPress integration, or if you want to start selling through Shopify. The costs will often vary, depending on what type of platforms your business will need when you get started. There are some things to consider when starting an online business. 

Research the market and follow the latest trends

One of the first main steps to do when you want to find out how to start a business with no money is to research the market properly and follow the latest trends. This will give you an insight into the industry you are thinking of working with and their key products that are most popular and wanted at a specific time. Depending on the industry you can see yourself working with, you will find a lot of different keywords and terms throughout.

You can, for example, use google trends which gives you all the latest and most popular searched words and you can also do a search within a specific country, for example, the United Kingdom if you want to sell to British customers and will be using British domains. Whatever country you choose, will give you an indication of what type of market and products you should invest in.

Write a business plan

When you have found a market or an industry you would like to work with, it is time to start planning and setting up your business. The quickest way to get an idea about what you want to achieve from your business is to write a business plan. There are also several online business ideas you can get inspiration from if you do some more research and write down potential outcomes. Maybe you have a specific goal for your new online business?

These questions can come in handy when writing down your first business plan:

  • What is your specific target niche?
  • Will this business be in sales/e-commerce (f.example SEO target articles, marketing content, product promotion)?
  • What is your budget? How much money do you like to spend on your new business? (f.example buying domains/web hotels, investing to marketing your product or website, etc)
  • Will you run it alone or do you have a friend or coworker that will work with you?
  • What do you want to achieve from your business? Any specific goals in mind?
  • How will you earn revenue or money on your business/products?

It doesn’t have to be so complicated when starting an online business. Just grab a pen and let your mind speak for itself. Anyone can write a decent business plan with the right questions to start with and take it from there. It is definitely a vital step when starting a brand new business, especially if you are going to operate online.

start a business with no money

Come up with creative ideas

Something that’s very important when starting an online business is being creative and thinking outside the box. Think new and different. Come up with creative ideas and show how passionate you are about a specific theme and play around with your creativity.

The more unique your business is, the more people will talk about it and check it out. 2021 is a year with many opportunities and you can be one of the people that make a difference and inspire others to do the same. Be a voice, show your passion/hobby, make a business out of what you love. Working online can actually be pretty fun once you know how to run a successful online business and you hit the right target. So why shouldn’t you start a business with no money in 2021? With our online business ideas we are sure you will come up with something brilliant. 

People appreciate creativity and will always show more interest in something they have never heard of or that is not so common. For example, if you are planning on starting a dropshipping business, it can be difficult because there are millions of online shops out there that are already selling apparel and makeup

How to start a dropshipping business? If one of your visions is starting your own dropshipping business then you will have to think in a more narrow category. For example, if you are planning on selling clothes, break it down into a more specific category; clothes – lingerie – luxurious silk lingerie for curvy women. Do you see our point? Make it more interesting and don’t just take the first dress or bags you can find online. People have done this so many times! Think new and outside the box. 

You might like this – How to start a freelance career without an education

Therefore it is a good idea to find a different niche you can target that will make your online store or shop more desirable and give you more sales. In fact, it doesn’t have to be so complicated to start a business with no money because if you find the right platforms, the right services, and start applying the right strategies, you will soon see that it is possible to start an online business with close to nothing.

No education, no money, and no appliances are needed. You can do it yourself!

Another good thing about dropshipping is that there are many platforms you can start with that give you a free trial period before you pay for the service, which basically means that you can sell something from your shop and start a business with no money, even though you haven’t paid for the platform. This means you don’t have to spend ANY MONEY on it unless you get sales of course. Check out Oberlo here

Scan through forums and other platforms where people look for answers

One of the many ways of doing a thorough research and testing the waters is to look at different forums and other platforms where people look for answers. Let’s say you want to start an online shop selling herbal supplements or other natural-based products, maybe even only vegan products. Where can you go that will give you an indication of what type of products people are requesting right now? Facebook groups. 

Facebook groups should be one of the first places you should look for online business ideas when starting an online business. 

There is so much valuable information out there for anyone to grab if you only know where to look. There are so many Facebook groups that are working in your favor, for free. You only need to search for them and scroll through the different hints and traces people leave in their posts. Whatever you want to sell or do in your business, Facebook is a good place to start.

how to start a business with no money in 2021

Create a vision board

When you have found your target niche, written your business plan, and are ready to take action, you should create a vision board. This is a very good step when starting an online business. Vision boards will help you visualize your business goals and remind you of where you want to go. You can make one online using canva.com which is a free platform you can use to create many useful things that will benefit your business. I use this platform all the time and it’s pretty good, especially if you are not a ninja in Photoshop.

The last thing is to remember is to have fun and understand that it’s okay to fail during your first months or even years. Rome was not built in one day. Building and growing your business will take time, but it will be worth it in the end. 

YOU OWE IT TO YOURSELF to start a business and it is POSSIBLE! The best part is that you don’t even need money to get started! Starting an online business is fun, exciting, and nerve-wracking at the same time, but you never know what will happen if you don’t start! 

I hope you liked this article, if you want to read more posts like this check out my previous articles on the website! 

CEO/Founder of Entrepreneur Women Daily 26/y Translator, Writer, Freelancer and Lifestyle Representative

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