How To Earn Money Online Without An Investment
There is a saying “you have to have money to earn money”. Although it is easier to make money by inviting it wisely, you need to start somewhere. It is expensive to start a “traditional, physical, bricks and mortar” business. For example, if you wanted to open a shop, you would need to buy or rent the premises, buy stock, pay bills and advertise. This is one of the reasons online businesses are so popular. Carry on reading to learn how to earn money online without an investment. I am going to give you a few business ideas and how you can start your own online business for sustainable income.
Benefits Of Earning Money Online
Not Location Dependant
The fact we can get internet access from pretty much anywhere in the world, means we can work anywhere. I am writing this from my apartment in France, overlooking snowy mountains. But you can work from a camper van, by the sea, in the countryside or any coffee shop you come across.
This gives us the freedom to go where we want and experience life without having to interrupt how our business works. We don’t have to shut up shop when we go travelling.
You Can Work At Any Time
This is a big one for me. I am a big fan of the outdoors and spend my spare time mountain biking and snowboarding. When the conditions are good, I can go snowboarding in the morning for a couple of hours and work a bit later in to the evening to make up the time. Basically, as long as I complete my weekly tasks, I feel I can reward myself with some mountain time.
As I write this, the mountain is closed due to bad weather, therefore I am using the opportunity to get ahead of myself so I can enjoy the fresh snow tomorrow.
But you don’t have to be an outdoor enthusiast to take advantage of this flexibility. Stay at home parents, disabled people, people that travel a lot, people with other income streams that want more money or those that are pursuing other goals that are time dependant can all benefit from online businesses.
A World Wide Audience
A traditional shop has a limited customer base. This is because people have to travel to it and walk in before they buy anything. Online businesses can be accessed 24/7 by anyone in the world, this means that when you use the correct techniques, you can attract customers from anywhere. Also, the amount of people buying stuff through their mobile phones is on the increase, as it is so easy to do so. This is only going to increase over time and now is a good time to get started.
Great Earning Potential
This worldwide audience that can buy anything at any time has the potential to make you a serious amount of money. Waking up in the morning to see more money in your bank account than there was the previous night is a great feeling.
Ways To Earn Money Online Without An Investment
I am not going to talk about ways of making a small amount of cash quickly here. In this post I am going to concentrate on sustainable online businesses you can start from anywhere, with very little outlay. If you are looking for ways to make a quick buck, check out my guide on how to make money on the side.
Start A Social Media Agency
These days social media is extremely important to businesses. It builds their brand, attracts customers, a great way to get feedback and build relationships. Unfortunately for many business owners, they find it very difficult to find the time to create quality content that engages their audience. Therefore, they often outsource to social media agencies.
By starting a social media agency, you can make good money from managing the social media accounts of businesses. I go in to more detail in my post on how to start a social media agency, but in summary clients would want to see the following benefits:
- Good social media strategies across all platforms
- Brand promotion
- Attract new customers
- Competitive analysis
- Time saving
When it comes to the amount of money you can earn from starting a social media agency, you can do pretty well out of it. Depending on what your clients want, you can charge up to $1,000 per month per client. By acquiring four or five clients, you can make some good money. By utilising automation tools and employing people you can streamline your tasks, allowing you to take on extra clients if you want to.
Become A Copywriter
If you have a flair for words, you can work as a freelance copywriter. Copywriters create content that serves a purpose for their client. They write to promote, educate or inform their client’s audience. You can learn more in my guide on how to become a copywriter with no experience, but copywriters are expected to create content such as:
- White papers to inform people about problems and how to solve them. These are usually about what the client is selling and are used to generate leads.
- Social media content that is engaging, entertain and informative. This means copywriters add more of a service than a social media agency would.
- Website content needs to be written in a way to ensure that it does what it is intended for.
- Emails intended for subscribers to a mailing list need to be effective enough to encourage the reader to take action. This could be anything from buying something, believing in something or going somewhere.
- Reports on particular topics or industry trends need to be written. This requires lots of research on the copywriter’s part, so they can include the relevant facts and details.
- Advertisements are not just made up willy nilly, they are carefully put together by copywriters. This is because they have the necessary word skills to make the most out of them.
- Case studies are commonly written by copywriters to showcase how their clients have helped their customers. This is so they can highlight the benefits they can offer their customers to gain more business.
As you can see, copywriting isn’t just about writing blogs and reports, it can be very involved. Your success as a copywriter depends on how well you market yourself. If you do it well, you can get lots of work and earn big.
Start Drop Shipping
Drop shipping is a great business model, where you sell products through your online store. But rather than buying the products, storing them and shipping them, the supplier does it for you.
The supplier (usually in China) will have a very low price for their products. You sell the product through your online store with a huge markup on it. It is very easy to set up an online store using Shopify and adding products from AliExpress to it. You need to understand how to choose a good drop shipping niche and how to select good products to drop ship.
You attract people to your online store in a few ways, but the main way is to use targeted adverts on social media.
This is the tricky part, you need to do a lot of testing with regards to the products you want to sell and your market. You need to gather information from setting up adverts. In the early days, you are very likely to set up adverts that don’t make any money. But they will give you essential data for effectively targeting your customer base.
Many people give up when their adverts fail, as this costs money. However, when you get this marketing method sussed, you can make a serious amount of money. A great example of this, comes from I guy I was speaking to a couple of weeks ago. He spent $500 on his adverts and managed to sell a torch. Obviously, this wasn’t too successful. However, his friend persisted and managed to make $1,000,000 in 9 months, selling novelty tea cups!
Become An Affiliate Marketer
Affiliate marketing is a great way to make money. It is one of the most popular ways to monetise a website. As an affiliate marketer you make money in the form of commissions through affiliate links from promoting products and services provided by others.
Affiliate marketing is a popular business to start up, as it is very cheap to start. All you need is a computer, an internet connection and a hosted website (which is actually really easy to set up).
You attract people to your website by creating content that people are searching for. To do this, you must choose a niche to work in. The content you create needs to be based around the keywords that people are typing in to search engines about your niche.
Therefore, you need to learn Search Engine Optimisation techniques amongst a few other things to make your affiliate marketing website successful. Good SEO techniques will get your website higher up the rankings in Google and other search engines. The higher your content is in people’s search results, the more traffic you are going to attract, earning you more money.
You can earn a fantastic amount of money affiliate marketing. If you were to sell a product or service that earns you $30 per sale, there is serious earning potential, as you can see from the infographic below.
When you compare drop shipping to affiliate marketing as a business there are some differences. Drop shipping costs you more money, but has the potential to start earning money sooner. Affiliate marketing is a slow burner, it will take a long time for your website to start making money, but it has the potential to earn more over time.
How To Earn Money Online Without An Investment: The answer!
If you really do not want to, or can’t invest a lot of money in to your new business venture, affiliate marketing is the way to go. Check out my guide on how to make money affiliate marketing for more details on how it works.
If you have any thoughts and questions on this subject, please leave them in the comments section below.