Low Cost Business Ideas for Shoestring Budgets

by Jayne Kopp on February 2, 2011

Shoestring Budget
There are so many low cost business ideas to choose from these days and if you are willing to invest the time to work at it, you can have your very own online business with limited out of pocket expense.

Years ago it was necessary to have a decent amount of start-up investment, but thanks to the internet, that is a thing of the past.

I am writing this post to counter the “cant afford it” excuse mentioned in my post “Starting an Online Business- Why Some Never Do” and would like to provide a few suggestions if your tight budget is holding you back.

First of all, I strongly suggest you set up your own website or blog.

You can set up a blog for free by using Blogger.com or wordpress .com, however I would suggest you choose to set up a paid/self hosted blog for your business. For this I would strongly recommend www.wordpress.org .

You can find hosting for less than $10.00 per month(I recommend Hostgator) and is the only necessary expense with the exception of registering a domain name which is about $10.00 for the whole year. This will ensure you have full control over your site.

Once you have your own site or blog set up, a great way to monetize it would be to sign up as an affiliate through Clickbank and choose to promote other people’s products. There are literally thousands of possibilities to consider. By marketing these products through your own private link you can earn commissions from the sales of these products. The best part is it doesn’t cost anything to get started!

An EXCELLENT couple of products to learn Affiliate Marketing (and I’ve used them so I can vouch for the value) are:

Matt Carters Rapid Profit Formula which will teach you step by step everything you need to know – right from setting up your own Website/Blog. You also receive step by step video’s to watch as well as PDF documents to help you along. (I can’t say enough for his attention to detail)

Secondly – Pot Pie Girls One Week Marketing Course will provide step by step instructions to set up one campaign per week + she offers additional tips and tricks.

When used together, I don’t think you can go wrong as long as you stick with it. Once you get one or two campaigns up and running, things start to become much easier and make sense.

Each of these products are packed with so much priceless information and are each under a hundred bucks if memory serves me and I don’t think you’ll get any more in depth instruction to start a business that can teach you to potentially earn a very healthy living.

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If you are knowledgeable in a particular area, such as horse training, cooking, or can provide information in any area of expertise, you might also consider writing an e-book to sell on your site. E-books can be created for little to no overhead. If you do not own the software to create PDF documents, you can get software from free from Openoffice.org.

You might consider earning money by selling advertising space or setting up an Ad sense account for your site or blog. There is a little bit to learn, but if you do some research you will find many resources around the internet for free or very low cost, as well as from Adsense to get started and to learn the ins’ and outs!

You may decide to sell physical products though your website also. Do you possess any special talents such as creating jewelery or crafting? There are so many other possibilities. It’s just a matter of using your imagination.

If you are interested in Network Marketing, there are so many MLM/Direct Sales companies that are very reasonable to join. Additionally, they usually provide excellent resources and support to help you get your business off the ground.

Many have low start up costs and monthly fees (if any at all). Again, performing research and due diligence is necessary to get all the details.

Naturally, it is necessary to generate traffic in order to get visitors to your website, but thankfully these days, many effective marketing methods are free or low cost also.

Writing articles are very effective, video marketing (you tube), visiting forums, commenting on other Blogs or even free online classifieds and using social media.

I highly recommend you grab a copy of Building on Budget, particularly if you decided to build a network marketing company, although it will also increase your knowledge and creativity for driving traffic in general and offers great advice. I found it to be well worth the investment.

All sorts of additional information can be found all over the internet and there are so many choices, all you need to invest is a little time to discover something that feels right and works for you.

Should you have any questions or need more detailed assistance, please feel free to contact me at any time there are so many low cost business ideas these days that there is no excuse not to get started and I would be more than pleased to answer any questions.

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{ 5 comments… read them below or add one }

sheenaprailleau February 6, 2011 at 12:16 pm

I am glad that you posted this to encourage those that they might have the money to not let that be an excuse. Many times people look for a reason not to do something not because they can’t but because they are afraid to succeed.

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Mavis Nong February 4, 2011 at 10:04 am

Hi Jayne,

These are great tips for anyone building their business on a budget.

Some people give up without trying and Mike Dillard’s BOAB is a very good resource.

Thanks for sharing.

All the best,
Mavis
Mavis Nong recently posted..Hot Off The Press- 8 of The World’s Women Experts Grilled on Traffic Generation Strategies!My Profile

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Jayne Kopp February 4, 2011 at 11:05 am

Hey Mavis, what a treat to see you here. It’s like ‘red carpet time! LOL… I loved the BOAB course. Its a perfect resource. As far as some people giving up without trying, I feel its such a shame and I am sure if more people realized that you don’t have to break the bank, it would encourage them to step out there instead! Thanks for coming. I have a lot to catch up on from your neck of the woods too. Can’t wait! Thanks Jayne

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Delena Silverfox February 3, 2011 at 5:22 pm

Hi Jayne!

I just came over from the Clever Marketer ProveIt! group on Facebook. Thought I would say hello!

This was a post written just for me, I think. I get so paralyzed by the “OMG, I have no money-” (seriously, my bank account says $0) “-and I need to find a way to make this happen!” So thank you for the brainstorming!

I have a lot of friends who do quite well selling their craft items on Etsy. I’m not entirely crafty, myself. Working on an eBook, though!

Glad to see you around the group!
Delena
Delena Silverfox recently posted..22 Words every Natural Parent should knowMy Profile

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Jayne Kopp February 3, 2011 at 5:35 pm

HI Delena, perhaps Affiliate Marketing might be a good way to start. The important this is obviously to start… then continue focusing on ONE thing till it starts moving for you. I can recommend a very reasonable tutorial if you wish… otherwise just take the time and research it online. If you have any questions whatsoever please feel free to ask me. Good on you for getting on with it. Just keep positive and move forward. You can turn things around! Jayne (BTW Welcome to ProveIT2011!)

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