The reason this is possible is that there has never been a better time in history to be an entrepreneur. We firmly believe that anyone can start a business today, as long as you have an idea and the hustle. Starting a business online these days is also surprisingly cheap.
If you’re dying to get out there and start making money online, but you think that surely you’ll need thousands in the bank first, we’re about to prove you wrong.
Come Up With a Great Idea for a Business.
The great thing about coming up with a million-dollar idea is that it’s completely free. In fact, ideas themselves are dirt cheap, and whether you have a million of them or only one, all you really need is a pen and piece of paper in order to start working on your business idea.
Even if you happen to be a little short in the ideas department, there are a few places you can go to find some inspiration for your startup idea. Take a look at what problems you’re facing right now in your life, whether it’s something that annoys you a little bit, or something that can potentially uproot your entire day. See if you can find a solution to that problem, if you’re experiencing this issue, you can be pretty sure there are others out there who are going through the same thing.
Validate Your Business Idea ($10)
Once you’ve got an idea, it’s time to start spending a little of that $127 and see whether or not your idea is actually worth something or if it’s a dud. As per the lean startup methodology you’re going to want to create a minimum viable product, or MVP, and use it to validate your idea.
A common mistake that many people make when it comes to validating their business idea is that they’ll need to invest hundreds or thousands of dollars developing an MVP. You actually want to spend very little at this stage. Whatever your idea of an MVP is, it can actually be more on the minimum side and can often be covered by the cash balled up in your pocket.
With $10 a month, you can set up a simple website (more on this a little later) and all you have to do is see how many people are interested in what you have to offer. Now the cost of this one might vary depending on the library near you, but in my experience, a membership to your local library is always one of the best investments you can make. And most of the time, they are free.
To put it plainly, you can’t be an entrepreneur, let alone start an internet business, unless you’re ready to learn. There’s nothing more valuable to an entrepreneur than knowledge, and a library card gives you access to a treasure trove of information.
Create Some Buzz With Social Media ($0)
No matter what kind of industry you’re in, you’re going to have to learn how to use social media as part of your marketing. Whether it’s LinkedIn, Facebook, or Instagram, you’ll need to master at least one of these platforms. Generally speaking, though, the rules for social media promotion are similar across platforms.
You have to make sure that you’re posting quality content, and that you’re posting consistently. How you define quality content depends on your audience and what they find valuable. At paragoninfo, we’ve found that our Instagram audience likes motivational quotes and updates about what’s going with the Foundr podcast.
On the other hand, with our Facebook audience, we’ve found videos to be particularly powerful in terms of bringing in new followers and engaging our existing followers. It’s also a great platform for us to promote the latest post on the Foundr blog, and the occasional motivational quote as well.