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

37 replies
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:
#$500 #build #business
  • Profile picture of the author thatkeywordguy
    They started Apple with not much more than that...
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  • Profile picture of the author iRunThis
    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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    "Grammar: The difference between knowing your sh*t, and knowing you're sh*t." -A Wise Man
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  • Profile picture of the author Danny Cutts
    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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  • Profile picture of the author 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), $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 View Post

    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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    • Profile picture of the author wannabeaim
      Originally Posted by Paleochora View Post

      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?
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      • Profile picture of the author Paleochora
        Originally Posted by wannabeaim View Post

        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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  • Profile picture of the author jkibbles
    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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  • Profile picture of the author WeavingThoughts
    Work...Earn...Invest...Earn...Reinest...Earn...Kee p Repeating...Retire.
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  • Profile picture of the author 993rs
    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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  • Profile picture of the author 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.
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    • Profile picture of the author Joe Crosbie
      Originally Posted by Richard Crooke View Post

      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
      Signature
      I chose entrepreneurship over further education despite being laughed at by my friends and family..

      I recently hit the "RESTART" button on my life, read my personal blog to find out how I did it :)
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  • Profile picture of the author Joe Crosbie
    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
    Signature
    I chose entrepreneurship over further education despite being laughed at by my friends and family..

    I recently hit the "RESTART" button on my life, read my personal blog to find out how I did it :)
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  • Profile picture of the author Vadimarket
    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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  • Profile picture of the author 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.

    There's lots of stuff out there if you know what to look for.
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    • Profile picture of the author theory expert
      Banned
      Originally Posted by travlinguy View Post

      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,
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      • Profile picture of the author JohnMcCabe
        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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  • Profile picture of the author 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
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    • Profile picture of the author Byoob Kelly
      Originally Posted by paul nicholls View Post

      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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  • Profile picture of the author gpwilson
    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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  • Profile picture of the author taskemann
    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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  • Profile picture of the author pandadoodle
    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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    Web Design Cardiff - Panda Doodle
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  • Profile picture of the author thebitbotdotcom
    Originally Posted by Nio93 View Post

    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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  • Profile picture of the author FirstSocialApps
    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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  • Profile picture of the author Michael Ten
    Have you read the book The 100 Dollar Startup?!?!
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  • Profile picture of the author Aaron Autrey
    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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    The good thing about this business is that "People don't succeed cause they aim too high and miss, no, they aim too low... and hit. Most people don't aim at all." (Les Brown)

    Not us... Not marketers. We live far above mediocrity. Always keep this in mind at all times..

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  • Profile picture of the author apkkadam
    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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  • Profile picture of the author rizanirama
    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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  • Profile picture of the author celente
    $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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  • Profile picture of the author Aira Bongco
    $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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  • Profile picture of the author shane_k
    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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  • Profile picture of the author goindeep
    Originally Posted by wannabeaim View Post

    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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  • Profile picture of the author lollobrigida
    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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  • Profile picture of the author sniperdomi
    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!
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  • Profile picture of the author JabMonkey
    A lot of my income is providing services, so the answer would be a definite yes, even if I had to start from scratch.
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  • Profile picture of the author dodinda
    I agree with list building with solo ads
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  • Profile picture of the author Weedy92
    Absolutely.. Knowledge + Networking > Money.
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