How to Start an Online Business with No Money

How to start an online business with no money

Taking your business online in 2020 is easier than setting up a physical store. If you want to know how to start an online business, we will tell you the first tip right now – you do not need a big bank account to start your dream business.

You just need to know what business you have to set up. And we have some ideas that might help.

Internet users in India have crossed over 627 million regular users. They are shopping on e-commerce platforms, watching videos on Youtube, or angrily talking to customer support over a faulty payment. 

It also means everyone is online, all the time. And this is how they can discover your business.

Why you need to start an online business

According to a Wikipedia report, despite India being the second-largest consumer of the internet after China, we are still behind the United States of America and France in the e-commerce market.

You can start your online business by adding an online store or website – or like many others, on any social media platform.  Zero cash needed.

This will not only improve your sales but will also increase your reach by helping more people discover you. Having an online business opens the doors of your physical store to the whole wide world through the world wide web!

You never pull the shutters down on an Online Business

If you just have a physical store, there are hours that you need to shut it down. But with an online store, you can sell 24 hours a day, 7 days of the week! also, you can set up a successful online business from home!

You can always let your customers view your products or services on your website and make a booking. This can help you convert a potential lead into a returning customer – a thing we like to call collecting leads!

Improved Customer Service

Tired of customers? Going online doesn’t just help allow your customers to buy whenever they want but can also assist you in serving them better. Using online means to communicate with your customers can give you broad insights into what areas of your business you should improve and who your returning customers are.

Instamojo Merchants Recommends: Find out how you can increase your online customer base here!

How to Start an Online Business: 

While it might sound like a task to start an online website, getting started is easy!

1. Have a Business Plan:

What do you want your business to be? What is your expected turnover? Is your business product or services based? What is your business name? There are so many questions one needs to answer and keep a blueprint of, before launching an online business. To start an online business in 2020, keep in mind – how many social media accounts do you need? Layout a basic marketing, distribution and financial plan. How will you leverage your digital marketing? How will you reach out to customers online?

Instamojo Merchants Recommends: How to set up an online business plan

2. Use your Social Media

You can also market your business on social media to promote upcoming sales, give discounts and other freebies. This won’t just help you increase sales but will also help you get rid of old stock, improve brand reach and establish you as a large market player!

In an article by the Hindu, it was reported that Indian users spend over 2.4 hours on social media daily.

There is a widely untapped audience that is sitting at home, lazy and unwilling to step into traffic to go to your store. Reach out to them using social media. You can now sell on Facebook, Instagram and Twitter – but we suggest leaving Youtube for some of the more fun content.

Sangeetha Kalamkari Studios – Using Facebook LIVE to sell sarees

Sangeetha is not your typical entrepreneur. She has an offline business – but a super successful online business where she sells kalamkari sarees on Facebook LIVE! Sangeetha sells over 100+ sarees to over 80,000 viewers on Facebook LIVE video. The sarees range from ₹5000 to ₹30,000. 

sangeetha kalamkari

Imagine selling your services on Facebook from Bangalore to a customer in Varanasi! That’s the power of taking your business online. you can set up business accounts on your social media handles, complete with a logo, brand name and link to your website/online store. Read Sangeetha Kalamkari Studio story on Instamojo blog.

Instamojo Merchants Recommends: How to sell on social media – Instagram, Facebook, Twitter 

3. Find a free payment gateway to collect payments

Did we mention we also have a lawyer? But before that – you can sign up on Instamojo and start collecting payments immediately. Share Instamojo payment links with your customers on your social media page, online store or website. You can also integrate Instamojo’s API into your website and collect payments directly.

4. Design your website with free tools

Do not spend any money on creating a website – after all, you are setting up a business from ground zero! There are several tools out there that will help you design your dream website – for free using free tools

No time for a website – no problem! You can also set up an online business and sell products without a website. This Instamojo merchant recommended guide can help you to understand how to build online business without a website.

Don’t worry. We have a free online store

If you are biting your nails, thinking of the hurdles to come once you set up a business online, we have something to ease your nerves. The Instamojo online store – used by hundreds of thousands of our merchants. For transactions up to ₹10,000, Instamojo online store is completely free.

Instamojo’s online store setup is quick, easy and does not require any developer or IT assistance. The online store comes with in-built apps to help you collect leads, chat with potential customers and collect payments easily.

Instamojo Merchants Recommends: A complete guide how to setup your online store on Instamojo.

Remember how we mentioned that we have a lawyer? Well, if you signup on Instamojo, you receive complete access to our mojoDevelopr Program apps. That includes LegalWiz, a legal platform that helps businesses register without any hassle.

It’s all about finding the right tools – and your business can grow with little to zero starting capital.

Shall we help you start an online business with no money?


YOUR ONLINE BUSINESS ADVENTURE STARTS HERE

 

 

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