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leonsmith
Joined: 28 Jul 2008
Posts: 11
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 Posted: Mon Nov 03, 2008 10:23 am Post subject: What are the ways to start a business with a small capital? |
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Hi everybody, I have a cousin who wants to start a small business online. We together are thinking of investing a small capital in the biz and when it starts getting better we can expand it. But, for the start we need to make minimum expenses and go on the business which would be offering music related products for the music lovers. I would like to invite suggestions from you people to get into this.
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Last edited by leonsmith on Sun Nov 30, 2008 5:35 am; edited 1 time in total |
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newman
Joined: 29 Jul 2008
Posts: 17
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| Posted: Tue Nov 04, 2008 12:38 pm Post subject: Re: What are the ways to start a business with a small capit |
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Having a business online needs to get certain things in a proper way. Since, you are planning to start it on a small scale you have to be very cautious about the expenses you make. First of all I would suggest that you have a good website running so that you can represent yourself better and as for the expenses concerned, the best way to manage your business is to get the dealing going on with a dropshipper so that you need not invest your money in inventory or a warehouse and the risks taken would also be minimum as your money wouldn’t be stuck in the products.
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Kasha
Joined: 10 Dec 2008
Posts: 4
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| Posted: Wed Dec 10, 2008 1:15 pm Post subject: |
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It really depends on how much you are willing to spend and what your risk tolerance is.
If you're plan is to build an online biz, affiliate programs can help you.
The problem with any business is getting enough traffic or visitors to it that are willing to buy.
So here's a low risk approach:
Overview: build an affiliate site to bring traffic to your future online shop.
1) Build an affiliate business focused on your market (ie. music)
2) Put money or time into creating content and promoting it
3) Once you're earning 4-5 figures, make an ecommerce site.
4) That affiliate site will have a lot of traffic. So simply, you promote your ecommerce site through your affiliate site. That's an instant traffic generator to your ecommerce site.
If you create your ecommerce site first, buy a bunch of inventory, and you can't bring enough traffic to it to the point that your inventory is old - you'll be losing money. Traffic is something that you'll need and affiliate sites are a great way to train yourself for your future shop. |
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steven.gracia
Joined: 25 Nov 2008
Posts: 13
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| Posted: Wed Dec 10, 2008 6:01 pm Post subject: RE |
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Its really a good idea to start a business in a partnership, I would like to suggest you to start your business with full planning . Like capital planning, resources and every thing related to business.
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criminal_background_check
Joined: 27 Jul 2009
Posts: 1
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Peter Sams
Joined: 22 Oct 2009
Posts: 3
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| Posted: Fri Oct 23, 2009 8:18 am Post subject: |
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Starting up a small business online needs a step-by-step assessment, thorough planning, and careful evaluation in order to have a successful business online.
Also find a mentor, the person who has a good success system to follow!
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