Could you build a business with $500...?

thatkeywordguy

12 years ago

They started Apple with not much more than that...

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iRunThis

12 years ago

You don't need $500.

You can build a business with $20 or less with a little bit of guidance. I never understood what people spend hundreds of dollars on, trying to build a business. lol

JaVaun T

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Danny Cutts

12 years ago

you can start a business with two conkers and frog if you have the determination and balls to go for it.....

A lot of online businesses were started on a lot less than $500 I know I did.

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Paleochora

12 years ago

Invest in solo ads and start building a list. In fact, before you spend anything of that £400, develop yourself a funnel like this:

Squeezepage > OTO > monetized download page.

You could also do downsells in there too.

£400 = about $650. So, take $100 of that grab & Optimize Press. Another $4/month gets you some hosting (Byethost is the best deal around), $10 for a domain (look for discount coupons). Allow for the cost of an Autoresponder service (I would suggest GetResponse for overall value, deliverability and features).

Get your funnel sorted and invest the rest in solos. You should break even or be in a slight profit on each solo ad if your funnel is sensible.

Then re-invest in more solos & do some swaps and giveaways. Then you will soon be in a position where, if you are looking after your subscribers well, you will get income from offers you tell your list about and also will be able to sell solo ads yourself.

This is a quick way to get income rather than a complete business model but at least you will have some solvency to plan your future business out with.

Originally Posted by wannabeaim

If your business went down the drain today and you only had $500 left of your cash would you be able to build your business back up with that money and how would you do it?

This question is for the people who are making money online now at the moment.. I sold my PS3 and xbox today and i got £400 for them, i want to invest the money instead of spending it on shite all the time :rolleyes:

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wannabeaim

12 years ago

Originally Posted by Paleochora

Invest in solo ads and start building a list. In fact, before you spend anything of that £400, develop yourself a funnel like this:

Squeezepage > OTO > monetized download page.

You could also do downsells in there too.

£400 = about $650. So, take $100 of that grab & Optimize Press. Another $4/month gets you some hosting (Byethost is the best deal around).

Get your funnel sorted and invest the rest in solos. You should break even or be in a slight profit if your funnel is sensible.

Then re-invest in more solos & do some swaps and giveaways. Then you will soon be in a position where, if you are looking after your subscribers well, you will get income from offers you tell your list about and also will be able to sell solo ads yourself.

This is a quick way to get income rather than a complete business model but at least you will have some solvency to plan your future business out with.

Hey thank you. Were do you marketers find the OTO's and downsells... This seems like a great idea.

Is the solo ad buying method still hot?

Thanks
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Paleochora 12 years ago

Originally Posted by wannabeaim

Hey thank you. Were do you marketers find the OTO's and downsells... This seems like a great idea.

Is the solo ad buying method still hot?

You can create your own products or look for 100% commission products related to your freebie at places like JVZoo or Payspree etc. You can also add Adsense ads on your thank you pages or a PPL banner to monetize further.
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jkibbles

12 years ago

What are your talents, and what kind of business are you wanting to start? I've started several businesses in my lifetime, some of which I had capital to start with. On the flip side, I started a handyman business with less than $50 and was grossing over $35,000 by the end of the first year.

$500 could get you a good start in several areas online, from domain flipping to affiliate selling, but the key is going to be what your talents are and how much effort you want to put into it. Set the money aside, do some research, and figure out what area of internet marketing you are interested in. Then decide how to best spend that $500 to make a profit.

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WeavingThoughts

12 years ago

Work...Earn...Invest...Earn...Reinest...Earn...Kee p Repeating...Retire.

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993rs

12 years ago

Stick that £400 in your savings account and add to it on a monthly basis.

It looks like you got a computer and a interent connection. That's all you need to start and online business.

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Richard Crooke

12 years ago

You can build a business under $100, but you need the help of successful people for guidance. Its rare for most to succeed without top support.

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Joe Crosbie 12 years ago

Originally Posted by Richard Crooke

You can build a business under $100, but you need the help of successful people for guidance. Its rare for most to succeed without top support.

Very true words Richard! I do however believe that there is enough guidance and support available for free in this forum. I can't picture getting better support or guidance than from a huge forum with a large percentage of people who are dedicated to this industry and who are all learning with the aid of each other
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Joe Crosbie

12 years ago

The answer for your question will depend on what kind of business you are talking about.

If you are talking about an online business, you could potentially start it with £0 like many others have said. The amazing thing about the Internet is the fact that you can earn money with no money whatsoever! And as long you as reinvest your earnings, you will slowly but powerfully grow into a very successful company!

If you are talking about a business that is mostly offline and has physical stock to hold, and requires a location to trade from. Well it would be a lot not harder, still easily possible with £400 but very hard. Many companies started from scratch with no investment and very little finance and are now some of the biggest business of today. "Action and dedication is far more beneficial than finance".

I wish you the best of luck in your new business venture and be sure to come back here and let us know how you are getting one.

Joe Crosbie

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Vadimarket

12 years ago

Like being said, you can build a business with no money at all. And it doesn't even mean it'll take more time. Look at the affiliate marketing. People literally make money out of thin air by promoting other people's products

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travlinguy

12 years ago

If I had only $500 to start a business I'd find an in-demand item I could buy wholesale and sell it on eBay. I was out and about this weekend and found something that would work perfectly. Cost -> a buck. Retail on eBay -> five bucks and I could even throw in free shipping and pull in tons of orders. It's a seasonal item but would have life well into January.

There's lots of stuff out there if you know what to look for.

Thanks
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theory expert

Banned 12 years ago

Originally Posted by travlinguy

If I had only $500 to start a business I'd find an in-demand item I could buy wholesale and sell it on eBay. I was out and about this weekend and found something that would work perfectly. Cost -> a buck. Retail on eBay -> five bucks and I could even throw in free shipping and pull in tons of orders. It's a seasonal item but would have life well into January.

PM me what the item is thanks,

Thanks
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JohnMcCabe 12 years ago

Ask a question like that, and you'll get everyone's favorite answer. Some will be what they've done, and assume that it will work for everyone. Others will involve whatever the poster is selling in their sig, and if you give them the benefit of the doubt, they also assume that it will work for everyone.

All I'm going to say is to guard that seed money carefully. Don't think you have to spend it all or all at once. For example, one poster suggested spending it on solo ads. Do you know anything about buying solo ads or converting the people who click on them? If you do, it could work to jump start your success. If you don't, it could be a quick way to empty your bank account.

Before you spend a dime/shilling/whatever on anything, spend some time figuring out what you are interested in, what you are good at and what kind of value you want to provide. Then look at ways you can combine those.

With that base to to start from, then you can look at investing in tools and education in a logical manner. Keep in mind that you want every dollar/pound/euro you send out to come back and bring friends.

Here's a freebie that will start you off right:

Sign up for Paul Myers' TalkBiz News and download the "Need to Know" ebook and devour it. Even if you never open one of Paul's emails (which would be a huge mistake), the book is a must read if you are just starting out.
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paul nicholls

12 years ago

Get yourself

Aweber
Optimize press
Amazon s3 (for file hosting)
(and of course hosting if you don`t have any)

As long as you have some experience, create a free report, set up a squeeze page, create a low priced OTO and then drive traffic using solo ads and ppc

with a couple of hundred dollars you can get some good results behind you

you not going to make a boat load of cash but it will be a great start and by doing what i have just mentioned above, it will put you in the 3% of people out there that actually bother to actually take action and do it

Paul

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Byoob Kelly

12 years ago

Originally Posted by paul nicholls

Get yourself

Aweber
Optimize press
Amazon s3 (for file hosting)
(and of course hosting if you don`t have any)

As long as you have some experience, create a free report, set up a squeeze page, create a low priced OTO and then drive traffic using solo ads and ppc

with a couple of hundred dollars you can get some good results behind you

you not going to make a boat load of cash but it will be a great start and by doing what i have just mentioned above, it will put you in the 3% of people out there that actually bother to actually take action and do it

Paul

Perfect answer. Making the free report and OTO is a challenge the first time around, then finding the right SOLO ad lists that convert for your product takes time and research. I'd go this route if I was starting today with $500. Paid traffic is better than free traffic, because in all honesty, nothing is free, time is money and Google loves throwing a wrench in your free traffic efforts.

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gpwilson

12 years ago

Very hard question. Fact is i had never face this type of situation before. If i have only $500 then definitely i would not take risk so that i may lost all $500. I would be more cautious then.

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taskemann

12 years ago

Of course you can do! You can even build a business from $0. But it will always be easier if you have some money.

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pandadoodle

12 years ago

I started a business years ago with just £50 in 6 weeks I had made over 100k profit 6 months I was turning over a million end of the year I had close to 8 figures in the bank. Aprox 12 months later I lost it. (Long Story)

Lesson. You can start a business with anything, once you make it, its keeping it and building on it that requires the money. Not being a twat with cash also helps

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thebitbotdotcom

12 years ago

Originally Posted by Nio93

You can build one with $0 if you really work at it.

Go to blogspot and start writing

Yikes!

I would never start a site using a third party. Buy a domain and hosting and start your own blog.

$10 domain
$5/month hosting
$20/month autoresponder

$10 upfront for domain name, $5 first month hosting, $1 first month autoresponder then $25/month thereafter...so...

$16 up front, and then $25/month with the potential to make thousands/month in time.

Just remember, pick a niche you are passionate about...write daily...put an optin form on every page and pitch them quality products...and that's about it.

Mark

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FirstSocialApps

12 years ago

When I was 20 I started a business doing an ad mailer. I had zero money. Had I not got enough sales that first time to cover the postage I would have been sunk. 14 years later and we still send out a mailer 2x a year .. so Id say it was a successful gamble.

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Michael Ten

12 years ago

Have you read the book The 100 Dollar Startup?!?!

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Royce Space

12 years ago

To be honest, $500 is more than enough.

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Aaron Autrey

12 years ago

I'm starting this coming Friday with about $170. My friend is going to help me build a sales funnel plus send a solo ad out for me. I hope to get 300-400 clicks and make back my money on that mail out.... we'll see!

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apkkadam

12 years ago

Any one can do start a online business in under $500 as long as they know what they are doing or at least guided by some one who knows his stuff.

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rizanirama

12 years ago

I didn't have that much money when i start an online business, i started with only less than $50. The key is to be wise with your investment, decide ONE type of business model that you want to work, it can be affiliate marketing, flipping, or create you own product, and then focus your investment around that area. Find a good mentor, start small and then reinvest your profit.

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celente

12 years ago

$500 bucks...dang!

I started with about $80

Got a domain and hosting, and autorepsonder

Then spent a few days getting a squeeze page together....and then...

Spend as much time as I could driving traffic. SOld that biz for $4000 and rest is history.

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Aira Bongco

12 years ago

$500 is a lot. I'd say you can easily get 500 subscribers for that and cash a passive $500 per month selling a $10 product at a 10% conversion rate.

If you want to start small, you can always resort to solo ads. Not that it is a 'hot' thing. You can get more than what you paid for and even break even while keeping all the subscribers.

But before you get excited, make sure that you have your funnel set up. It is not as easy as creating a random freebie. I personally prefer that you create your own and offer as much value as you can in the onset so that you can win people's trust. Try one of those list building courses or books if you need the basics.

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shane_k

12 years ago

My advice for you is to be wary of anyone who has PM'ed you since you posted this thread, who has hinted at, sugggested, implied, or come right out and told you that they know the "real secret" to making money online, but in order to learn it you will have to part with your cash.

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goindeep

12 years ago

Originally Posted by wannabeaim

If your business went down the drain today and you only had $500 left of your cash would you be able to build your business back up with that money and how would you do it?

This question is for the people who are making money online now at the moment.. I sold my PS3 and xbox today and i got £400 for them, i want to invest the money instead of spending it on shite all the time :rolleyes:

You certainly can!

There are stories about million dollar business's being started with less than $100, a bucket of friend chicken and an empty garage.

Here is the thing. These stories are great for motivation and they show you what the human spirit can achieve. But people get too caught onto the story and they forget the reality.

The reality is that this happens less than 1% of the time. Probably even less than a point of a percent!

So what is the reality that you are going to start a good, solid, sustainable and most importantly a profitable long term business on $500?

Not that realistic.

I used to have the mentality of doing things on the cheap or worse for FREE and realized it was a dead end. Take it from me. You pay for what you get, get a site properly designed and coded, get a proper SEO firm, get a proper email system and auto responder, get a real webmaster or administrator and hire real sales staff if your not going to do it yourself.

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lollobrigida

12 years ago

Read JohnMcCabes very smart advice carefully and when you're done
read it again. And then get Pauls document and spend time reading it.

Of course it's possible to start a business on $500...
as it is possible to start with any amount of money, or no money,
or even on 3 inches of dental floss and piece of driftwood.

But without us here knowing what your skills and interests are it is
impossible to give advice that ensures even the least bit of success.
You need to educate yourself enough to make your own decisions and until
then... hold on tight to the money you have.

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sniperdomi

12 years ago

The advantage of internet marketing is that it can be very cheap to get some income.
-Buy a domain around 80$.
-Take action FREE
-Create content FREE
-Moneitise with adsence, affiliate marketing FREE.
-Driving traffic can be FREE if it is done properly.

The only thing is that you will have to learn stuff, Get free resources.

Make things happened!