An Online Business for $5,000 (or less)

Yesterday, I talked about lay-offs and some tips to start your online business. Since we are on the subject of starting a business, let us consider one important factor and that is the CAPITAL.

Let us face it that given the current economic situation there will be a few people who would consider starting a business. But what if you did not have a choice? I mean what if you got laid-off and no one is currently hiring. What would happen to you then? You can’t just sit around the house and wait for companies to start hiring again right? That might take forever. So the best way to get through this situation is to start your own business.

Some people who lost their jobs actually started to set-up their own businesses online. The capital that you need to start an online business is minimal as compared to a brick and mortar set-up. After all, an internet-based business grows our marketplace to a global one. Customers will flock from all sides of the world that is how the online business works. For as little as $5,000 (or less) you can actually start that business online.

What can $5,000 do for your online business? First and foremost, I have to tell you this DO NOT SKIMP ON DESIGN. As what I have said in my previous blogs, design is what captures your visitor’s attention even before they actually see what you are selling. Work with a seasoned designer who understands the following:

• Site design
• Site architecture
• Internet-marketing techniques (SEO, PPC landing pages, blogging, and social media)

Shy away from excessive advertising or anything that detracts consumers from the actual content of your website.

Customers also like the idea of being able to leave a feedback on your products/services. This is their way of communicating with other site visitors / consumers. For this aspect of your website you can either choose Joomla or WordPress. Both programs are modular and allow you to add plug-in components to make your site consumer-driven.

One important thing that some online entrepreneurs forget is that they have to MAKE IT EASY. It is important that a shopping cart is easy to use. An ideal shopping cart should contain everything, which a general user demands or desires. In addition, it needs to be fast and simple to operate; saving users' time and meet their needs and demands.

To save on start-up cost, your site can accept PayPal payments, which takes up 3 percent of your sales fees. Make your customers feel secured by integrating SSL certificate into your system.

“When customers visit a website to make an online purchase, they want to know who they'll be paying and that the personal information they submit to the site cannot be intercepted. This is the purpose of an SSL digital certificate.

Use of SSL (Secure Socket Layer) and a digital certificate enable a web browser (your customer) to communicate securely with your website, assuring the customer of 3 things:

1. That the website really is who it claims to be.
2. That credit card numbers, etc are encrypted and cannot be intercepted.
3. That the data sent and received cannot be tampered with or forged.”
From: Modwest

The price of SSL certificate ranges from $20 to $1000. This is not a bad investment if you want to protect your customers’ information.

With that being said, $5,000 (or less) can actually go a long way. Let me just remind you that the return of investment will be entirely up to you as the entrepreneur. There are different strategies you can follow to increase your online sales. Truly, being unemployed is a blessing in disguise because it gives us the independence that we always wanted. All it takes is the right attitude to make things happen!