Everyone is talking about starting a side hustle. Or a side-gig. You’re not so convinced that it’s worth your time.
After-all, over 80% of businesses fail in the first 2 years (according to Forbes.com).
Or you may have always wanted to have a business. But you’ve always thought that you need funding or investment to start one. That’s what I thought too. Till I discovered that in actual fact, you can start a business from scratch with completely no money. And I want to share with you 10 ways to that.
Are you excited yet? This means that you start that dream business and if it takes off, yay! That Caribbean holiday is in the bag. If it’s profitable, super yay! And if not, no harm done. Moving on.
1. Rent out a room in your home
Airbnb is making everyone an entrepreneur. No matter where you live in the world, there’s definitely someone looking for a place to stay there. So put up your room and pay nothing unless someone rents your place. That’s the best way to do any kind of business. With no overheads. I mean, you do need to live somewhere. You can charge as high or as low as you like. There’s tree houses that rent for upwards of $240 a night! Actually, I just checked and the one that was renting for $240 a night last year is now renting for $375 a night! Talk about laughing all the way to the bank! The trick is to make your guest’s experience as memorable as possible. Think unique and edgy, or ultra luxurious and dreamy. You’ll be well on your way to making a killing on Airbnb.
2. Become an affiliate for online products
This is absolutely brilliant! Not only is it 100% free, you can earn money from high affinity goods without ever having to deal with inventory. In the space of 2 months, I’ve earned $211.65 USD from simply sharing links to products I LOVE and use. And products that I know other people in business will also love. Examples are software as a service subscriptions, business tools and services. Pretty much anything that you have to pay for online that does not need delivery. They are high are growing more and more popular daily. Platforms like JvZoo and Appsumo are amazing in this regard. They regularly run crazy promotions that can get you earning anything from hundreds to thousands of dollars monthly. All this from simply sharing the links with your networks and contacts. I personally use Appsumo deals alot to gather an arsenal of business tools at a fraction of the cost. I firmly believe that when you use something and love it, you are more genuine in promoting it. This is where a lot of MLM’s fail where they don’t lead with value first. And also why alot of people in MLM’s don’t come right out to let you know that are promoting something. Alot of the things that I share will save business owners 1,000s of dollars a year. And they have for me. So I can highly recommend them whether or not I get a commission. That’s the secret sauce in successful affiliate promotions. Affiliate commissions vary, they start from 12% on Appsumo and can go upto 30% or 50% on both JvZoo and Appsumo. And the best part is, they’ve got all the marketing copy covered so all you need to do is copy, paste and profit. What’s not to love?
3. Sell coaching and consulting
This is the number 1 fastest growing sector where you can get started with no money down. To do this, take a look at the skills that you have and package them into consulting offers or coaching offers. Think of what you are currently paid for in your job. Or what people always ask you about that you are passionate about. Chances are there are people that would pay you to show them how to do it, or to have you do it for them.
To make it super quick to start getting professional offers, open a free account over at Better Proposals. It comes with amazing, ready made template proposals that cover just about anything. I’m talking social media management to house design and construction. On the free plan you can send out 1 proposal a month, so it’s perfect for testing the waters. Once you’ve lined up prospective clients, reach out to them using this LinkedIn messaging strategy that is guaranteed to get you your first client in the next 30 days. The trick is to get on a call with them and pitch them your offer. You can schedule appointments easily using Calendly. Link it up to your calendar, choose your availability and shoot your potential clients your schedule link to start bringing in the money.
And if you’re worried about how to get payment from abroad, WorldRemit is there to help. You can get bank or mobile money payments from and to many countries worldwide.
4. Sell an information product
Once you’ve systematized your consulting know-how into steps, it’s time to turn it into an information product. The idea is that anyone can use the same steps to get the same, or similar results that you offer. your next port of call is to sell your knowledge as an info product. It involves packaging your knowledge into a product, program or course. You then sell it to those that are looking for the exact outcome that your know-how will provide them. They may be people that cannot afford your consulting or coaching fee. Or people that want to DIY. The beauty of this is that you can sell it BEFORE it is ever produced and in that wayconfirme whether it’s a product that people will buy. This is called product validation. So you never have to create it if no-one ever expresses interest in it, no harm, no foul! There are many ways to package your know-how into a product, Teachable has by far the best guide on how to package your know-how into a course, grab it here.
5. Offer a delivery or errand service
Businesses that are innovating are killing it and one of those innovations is bringing the product to the customer. If product delivery is not yet well ingrained in your locality, you can start a business in this area. You can cash in on a fast expanding market of business owners that are moving online in product sales. Many business owners that I speak to face a challenge of not being able to get their product to their customer. This solves that problem. And it’s enough of a pain to them that will pay for it.
6. Become an agent
Being a travel, sales, loan, insurance or investment agent or broker is a great way to start making sales without needing any money down. Find a product that you personally use and love and ask if there is a way to sell it for a commission. This is a twist on being an affiliate because you become a representative of the product and company in your area. Go for trusted and tried products that will always be needed and make your mark by being visible in your networks.
7. Become a social media manager
This is definitely a money maker. This 23 year old runs a million-dollar social media management agency. That’s your proof. And she runs it virtually. It’s as simple as offering to manage the social media presence of small businesses in exchange for a fee. In essence it’ss the most easy consulting gig you can ever land if you are social media savvy. And anyone with a smart phone can learn these skills if they don’t have it already. Business are learning more and more that they need to be paying attention to social media. There’s a large paycheck waiting for the people that will jump on this a way to make money.
8. Become a social media influencer
Once you know what’s working in social media, why not use it to your advantage and become a social media influencer? It may take a bit more work upfront by growing your social media following. This you would do in the following ways.
Once you decide on the theme of your social media presence, get to work building a following around that theme. Travel, Health and Wellness, Business, Family or Relationships are all great themes to start with. To build an engaged social media following you will need to leverage online tools for follower growth and engagement and scheduling your posts. Or do it yourself. Once you’ve built a solid following upwards of 10,000 followers you can approach brands in your area to partner and get the message in front of your followers. This could create a $10,000-$25,000 windfall in your business if you do it right.
9. Host a Virtual Summit and sell a back-end product
Companies and entrepreneurs alike are using virtual summits, to grow a following and generate sales for their products. And you know that they must be in on some secret that the rest of us are not capitalizing on. That secret is that todays currency is authenticity and connectedness. Talking in front of a camera for 1 hour to your potential prospects is as authentic and connected as it gets. And it’s 100% FREE. Yes, you heard that right. You can run a virtual summit is 4 simple steps 1) Determine your topic, 2) Recruit influencers and experts 3) Get the influencers and experts to recruit attendees and 4) Run the live sessions and sell products and services to attendees on or after the summit.
All these steps are free, because all you need is a Facebook page OR YouTube channel and optionally a landing page or website and an email provider. But all that’s taken care of by using your Facebook Page, a Facebook Group and messenger bots like those at Manychat. That way you wont need an email sign-up form at all! You would create a live event for each summit session on your Facebook page using a scheduler like Belive.
You can also use your YouTube channel and run the live event via hangouts where your expert interviewees join in the hangout with you. You would then embed the youtube video(s) on your landing page, which you can create via free website platforms like wordpress.org or blogger. You can embed sessions even before carrying out your hangout. For live sessions or pre-recorded sessions embedded, the video will only play once the live session starts and attendees will view them in real time.
And if you want to get really fancy, use this Facebook Live tool , Ecamm, that allows you to broadcast from your DSLR cam in hgh quality, to schedule lives, to play recorded audio as a live video and many more other cools features for a one time cost of $29. This way you can even get the attendees into a Facebook group and share your facebook lives in there. And pair it up with this $1 trial of Webinarjam which is my fave webinar platform, that gives you 60 days to use ALL the features, including streaming to Facebook live with your slides and running automated, just-in-time webinars.
If you’d like to be a little more fancy then head over to Fast comet and grab a hosting package that comes with a FREE domain of your choice, and bam! For less than $3 a month, you’ll have a money making machine. As for products, get affiliate products that are related to the summit topic you chose, market them on the summit and you are on your way to profiting! As an extra bonus, once you have recruited anything upwards of 1,000 people, target a corporate sponsor to the tune of $5,000-20,000. Kaching! Oh, and you may want to have a way to track everyone that signs up, and to capture their email addresses while you are it. For this Mailerlite will be perfect for you, it’s 100% free for under 1,000 contacts. Plus it also lets you set up a landing page for free in case you prefer to have everything on one platform. You’ll need a domain though, so in case you decide that you’d rather just get your domain for $12 on Namecheap then use the in-built landing pages on Mailerlite, you’ll be all set, for just $1 a month in total!
10. Drop shipping and selling imported goods
Alot of people feel that drop shipping is only for people living in Europe or the US. Not true. The nature of this business is that you never have to interact with the product so you can do it from anywhere in the world. Heather Katsonga-Woodward of Neno Natural build a multiple five-figure business selling to a different continent than she lives. And so can you. I recently talked to entrepreneur in Kenya who is selling products 100% online is making monthly revenues approaching five-figures. And all this is being done in their house and as a one-person show. It is being done and it is possible. Want to know how? Keep reading and I’ll let you know how to get the help you need.
Well there you have it. 10 ways to creating a business with NO money. Are you ready to go out and build that business? If you’re feeling inspired but still a little unsure, I’ve got you. I’m running a “Build Your Dream Business” challenge starting Monday, 25th September. Click here to sign up for the challenge. In 5 days you will go from no idea, to your first sales page, sales call or client.
Click the button below to sign-up.