How To Start A Home Business On A Budget

from mila 

Want to start a home business but not sure you have enough funds. Don’t worry, some of the most profitable businesses started wit less than $500 and you can too. Here’s how:

Step #1 Find a niche that appeals to you personally. It’s easy to think you can spend your days selling skin care products or writing about dog breeds however unless you’re extremely interested in the topic, it’ll be difficult to motivate yourself. Instead, spend the time to find a nice blend of profit potential and passion. There’s truly nothing better than making a living doing something you love. Keyword research is a great place to help you hone in on that profitable niche business idea.

Additionally, some businesses lend themselves to low start up costs. For example, an information site or an affiliate marketing business both need very little start up cash because you’re initially simply writing content and promoting the products of others. Your profit comes from advertising revenue and affiliate commissions.

Step #2 Register your domain name with a low cost domain registration site. Consider combining registration and hosting if you can find a provider who offers all the features you need at a price that fits your budget. Because competition is stiff out there, you’ll find many domain registration/hosting providers who offer great deals, compare prices and features.

Step #3 Consider using WordPress to build your website. Why? WordPress is infinitely customizable and easy to use. It’s also free and there are an abundance of widgets and plug-ins available to help you make your website exactly how you want it to be. There’s a nominal cost to redirect to your WordPress registration to your website, $10. Additionally, WordPress websites/blogs make optimizing your website for the search engines easy with regular content and SEO plugins.

Step #4 Driving traffic to your website. The most affordable option for getting content on your website and using it to market your business, for example, article marketing, is to write it yourself. However, if you aren’t inclined to write your own content or want help with the process, PLR can be purchases and tweaked to fit your niche needs at an affordable price.

Step #5 Partnerships are also a fantastic tool to keep the budget in line. Trading services or cross promoting websites is a great way to maximize your resources.

Step #6 Social networking. Sites like Facebook and Twitter are free and they’re an excellent way to build a community and drive traffic and customers to your business. Get active on relevant forums and interact on industry blogs. You’ll be able to generate interest in your home based business and learn and connect at the same time.

Step #7 Set up your home office using refurbished equipment. While a good computer and a full home office setup can cost thousands, you can purchase a refurbished or later model computer for half the price of a new one and desks and file cabinets can be purchased from flea markets or discount stores. As your business grows, you can upgrade your office as needed.

Creating a home based business on a budget can be done and it can be done well. All you need is the passion to get it done and the perseverance to see your business become a reality. Remember the stories of Bill Gates starting in his garage? You can do it!

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