The answer to that question is really up to you, depending on your business model, and your timeline. I started off not having to spend much money, something I remember well because I had just been laid off from my job and didn’t have a lot of money to spend. With GreenExamAcadamy.com and SmartPassiveIncome.com, I didn’t spend more than $1,000 a month for the first two years of those businesses. It wasn’t until those businesses started growing significantly that I started to spend more money, and then I had the revenue to support additional costs.
Writing effective and grammatically correct resumes and cover letters is a struggle for many professionals. These type of writing services includes an analysis where clients are given guidance to determine their objectives, and define the skill set needed to achieve them. After that, the next step is selecting an appropriate format and choosing vocabulary which will appeal to a potential employer, without making the applicant sound arrogant and “too good to be true”. A good resume or cover letter needs to highlight an individual’s skills, be relevant to the position applied for and have a positive tone.
It wasn’t until 2010, two full years after my initial small investments, when I spent a bit more money for one of the best investments you can make in your business: building an email list. The Email Service Provider (ESP) I used at the time was Aweber, which cost me $194 per year to start (that’s only about $16 per month). Once my email list grew though, the costs increased based on the number of subscribers I had: 26,000 subscribers cost me $181 per month. Aside from the costs, which actually are pretty standard, Aweber didn’t have some of the features I wanted, so I moved on.
Many business owners either do not understand the intricacies of using social media to build a brand and cultivate a loyal online following, or don’t even know how to use social media at all. By offering your skills as a social media consultant, you can either help businesses craft a social media game plan, or take control of their social accounts directly and post updates to various platforms.
Be professional. When you submit a résumé, don’t type it in ALL CAPS and please don’t avoid the caps lock like the plague. Know how to use it without looking incompetent. Write in complete sentences with proper grammar. Of course, there will be exceptions, but even with the exceptions, you must keep it professional. You’re building their view of you.
Set up a merchant account. Service businesses in the past had to generally rely on cash or check—setting up an entire credit card processing system was a thankless, expensive task at best. Using a service such as PayPal makes it possible to accept virtually any form of credit or debit card for your services, and includes dispute resolution should the need arise (and it will arise).
They are generally solopreneurs who offer their services to small businesses who need help with a given range of tasks. Some people might argue that being a virtual assistant isn't really running a business. But somebody like Gina Horkey can prove that's simply not true, and she has a booming business to back her claims up. She's also seen as the “go to” person for a step-by-step guide to running your own VA business.
There you have it – a comprehensive guide to the best online businesses to start this year. We deliberately didn't cover ideas like app development or IT support because they require specialized skills. That's why we only provided you with businesses you can start with very little money. In fact, you can even start some of them with very little knowledge.
At around the time I started selling my ebook and making a living online, I had yet to even consider getting involved in outsourcing some of the work. I look back now and think that I could have potentially done that earlier to help with things like finding a webhost and creating my website. Back then I did everything myself. That’s one of the positives to first starting out. You don’t really have any overhead. It’s all about the effort you want to put in on your own time and your own terms. So, when I first started, I found my WordPress theme myself, I set it up on Bluehost with a very easy one-click install. I was able to get everything set up, and start building my audience, trust, and authority online with those who I was going to deliver my product (ebook) to down the road. I did not spend money on hiring a team until 2013, which came after having a full-time Virtual Assistant for two years, which cost me about $800 per month.
Acorns rounds up your everyday credit and debit transactions and automatically invests the spare change for you. It's only $1 a month and free for college students with an .edu address for up to four years from the date of registration. You'll barely notice the micro-investments of spare change, plus the Found Money feature invests money in your account when you shop with Acorns partners such as Macy's, Nordstrom, and Walmart.
What It Is: Many companies pay online testers to make sure websites are intuitive and easy to navigate. "You basically follow the instructions you're given to check out the website," says Anna Thurman, founder of RealWaysToEarnMoneyOnline.com, a site that has reviewed more than 500 online work opportunities. "It usually only takes about 15 minutes per test." Thurman recommends registering with 10 to 12 different companies since the opportunities to test these sites are doled out first come, first served. "There are people who make $100 to $200 a month by staying on top of those tests," Thurman says.
There are a variety of online lenders out there, and if your credit is fairly good, you can apply for a personal loan online and be approved almost instantly. The money will still take a few days or even a week to hit your account, and the interest rate will be higher than, say, a home equity loan. But a personal loan from a reputable company — and be careful, for some online lenders are little more than payday loan shops online — beats credit card debt for a couple of reasons: Installment loans are better for your credit than revolving credit card balances, and even a 10% interest rate is preferable to what you’d pay for a cash advance.
Saving Money is Making Money. You may have heard the saying “You can’t “outwork a bad diet”; finances are similar. Before launching your side hustle, it makes sense to sit down and look for opportunities to reduce unnecessary expenses. Now, I’m not suggesting you give up the items you and your family value and enjoy, rather lets just trim the fat a bit.
For many of us, to work from home is the ultimate indication of freedom. It means that you own both your time and your space, that your life is firmly within your control. Yet not every job can be done from afar. Some jobs, like being a pilot or a flight attendant, must be done from a certain place at a certain time, while others, like being a security consultant or a software developer, are extremely remote-friendly.