I’m sure you’ll agree:
Starting an online business must cost a LOT of money!
Really?!
Well… it might not be exactly like that.
With just a SMALL sum of around $100, you’re able to launch a business on the Internet that might bring you hundreds — if not thousands — of dollars in return.
In this Session 9 of the Online Business FM podcast, I am going to be telling you everything you need to know concerning the actual costs of starting an online business and answer that pertinent question we all have in the beginning stages of our business lives…
How much does it cost to start an online business?
What You’ll Learn
- The most common question most beginning Internet entrepreneurs have.
- The huge fallacy that arises from that very common question.
- My best tips on starting a business on the web while on a budget.
- The top cost benefits of betting on an online business. And,
- Much, much more.
Download the MP3 File
If you prefer, you can download this episode’s MP3 file to your device for later listening. Just use the link below and follow the instructions to do so.
Links and Resources Mentioned
Affiliate Disclaimer: Some of the following links below may be affiliate ones, which means I earn a commission — at no extra cost to you — if you end up purchasing anything after clicking through those links.
- OBFM 2: 15 Reasons Why Starting an Online Business is the Best Decision You Will Ever Make
- OBFM 3: Passive Income Myths & Truths: Can You Really Make Money While You Sleep?
- OBFM 5: Affiliate Marketing – Top Passive Income Online Business Models & How They Work [Part 2]
- How to Come Up With & Choose a Domain / Website Name for SEO
- Parkinson’s Law
- Libsyn
- Bluehost
- HostGator
- SiteGround
- WP Engine
- Genesis Framework
- StudioPress
- ThemeForest
- Namecheap
- GoDaddy
- Ahrefs
- Long Tail Pro
- Kickstarter
- IndieGoGo
- GoFundMe
- UpWork
- Freelancer
- Fiverr
- Canva
- Mailchimp
- GetResponse
- Aweber
- InfusionSoft
- ConvertKit
- e-Junkie
- Gumroad
- SamCart
- LeadPages
- DepositPhotos
- Will It Fly? by Pat Flynn
Transcription
Hey, allô, olá!
Welcome to another episode of the Online Business FM show with this guy here behind the mic. The name or better yet… nickname is Luc, Louie Luc and I’m here to help you start, grow or scale your online business and reach success on the Internet.
So… let’s get going and find out together how we can make it online!
Thank you for hitting “Play” and checking out what this episode is about!
Today, I am going to tell you everything you need to know concerning the costs of starting an online business and give you the final answer to that very common doubt we all share at some point in our entrepreneurial careers:
How much does it cost to start an online business?
I bet you’re wondering… starting a business on the web must be super expensive…
Really? Are you sure?
Well… it just so happens that it might not be exactly as you’re thinking!
Actually, you don’t need much more than only $100 to start a profitable business that can earn thousands of dollars in return.
In this episode of the OBFM podcast, I’ll show you the truth about the actual costs of setting up an online business.
I’ll review some of the foundational business building blocks you need to have in place and throw in a few tips and advices so you’re on the right path towards success while saving money and time.
Special Announcement
Just before we actually get started, I have a quick and special announcement for all of your OBFM podcast listeners out there.
I am happy to inform you that the Online Business FM show already has its own Alexa Skill!
So… if you have an Amazon Echo or any kind of an Alexa device, you can go to onlinebusiness.fm/alexa to get our Alexa Skill for free and start listening to this podcast on your Alexa device.
The magic words or our Invocation Name to ask Alexa to play our episodes are… “Online Business FM”. How easy is that?
Don’t forget, go to onlinebusiness.fm/alexa, enable this podcast’s Alexa Skill on your device and learn more about it.
And, please, leave a rating and a review on our Alexa Skill page on Amazon, because Amazon loves reviews and ratings and that’ll help our Alexa Skill get higher rankings and more listeners to join our community of heroes of the digital revolution.
Thanks to the people at Libsyn for making this happen!
That being said… let’s rock and roll!
How Much Does It Cost to Start an Online Business
“How much does it cost to start an online business?” is a question that people interested in starting a business on the Internet usually ask a lot.
This is one of their — and possibly yours, too — main and first worries, just before taking the big plunge into this amazing world of online entrepreneurship.
Usually coupled together with this very usual concern is a huge fallacy.
Huge Fallacy
There’s a common belief that it actually costs a lot of money to get started.
A ton of us think that starting an online business is very expensive and that it would require lots of funds to do it successfully or… at all.
This misconception can be quite demotivating and it can mean the end of your dreams even before you begin living them.
But…
Is it really like so? Is starting an online business really costly?
Is Starting an Online Business Really Costly?
The best answer I can give you is:
It doesn’t have to be.
It really depends on three things:
- How much time and money you have available.
- Your goals and objectives. And,
- The kind of business you’re planning on getting into.
Let’s review each of these factors, next.
The Amount of Time You Have Available
Concerning time and also money — since they undoubtedly go hand in hand — some people say that starting an online business is a “time or money” equation.
The more of one of these resources you have in your pocket, the less of the other you will need.
If you don’t have much money, then you’ll need to invest more time.
If you don’t have much time, then you’ll need to spend more money.
What this basically means is that:
If you have plenty of time, you’ll have to do most of the required work yourself (at least in the initial stages of your business life).
If you own plenty of funds, then you’ll be able to pay others to do the hard work for you or use tools or automation processes to do the heavy lifting on your behalf.
Your Goals & Objectives
How much you’ll need to spend is also tied to your goals and objectives and how fast you want to achieve them.
Revenue Velocity
To speed up the process of making significant money from your business after it’s launched, you may consider hiring help, building a team, investing on advertising, marketing and public relations, etc.
Barriers to Entry
You might also want to make your business more unique so that it’s harder to copy by potential competitors or new players in your niche or market.
Scalability
Paving the way to add a scalability characteristic to your business is related to how you think it over, plan and organize it and how effective and efficient your business plan is. Hiring help will, most likely, also be needed to achieve this goal.
Portability
Your business can become more portable and passive than initially thought if you change some things, make new decisions or hire people to manage it for you when you’re not present.
Naturally, all of these goals and objectives will require you to invest more money into your business.
The Kind of Business You’re Planning on Getting Into
The kind of business you’re planning on getting into — i.e., your business model — also plays a major role in understanding how much it’ll cost you to get your online business up and running.
Obviously, and this comes as no surprise, some types of businesses are more costly to get started than others.
Generally speaking, passive-income types of online businesses are cheaper than active or not-so-passive-income types of digital ventures.
Passive-Income Types of Online Businesses
Starting a blog, going into Affiliate Marketing, becoming an email marketer, running an online course, launching a podcast or a YouTube channel are some of the examples of businesses you can start and run without a great deal of money.
Freelancing, coaching, consulting, doing dropshipping and running a membership website, which may not be that passive, won’t cost a lot of money to get going, either.
Active-Income Types of Online Businesses
On the other hand, businesses like running an eCommerce shop, Amazon FBA, developing and selling a software tool and that sort of things might cost you more both to get started and as you go along.
If you are planning on starting an online store, for example, one where you’ll hold your own inventory, you’ll have to account for warehouse and shipping expenses plus having to do inventory accounting at set dates (like the end of the year) which not only costs time but also money.
If you want to sell your own physical products, you may be required to make a mold before mass producing them. Molds can be super expensive to make.
If developing and selling a software tool is right up your alley, bear in mind things like customer service and support, updates and upgrades and compatibility with third-party tools. All of these, plus the initial planning, development, testing, hardware expenses and staff salaries, will cost you a substantial amount of cash.
Inside of this second category — the more active-income types of businesses — there are some that are cheaper and more passive than others which are more costly and active in nature.
What Type of Business Do You Want to Start?
You’re probably already realizing that instead of wondering “how much does it cost to start an online business” the key question you need to ask yourself here is:
What type of business do I want to start?
That’s what you’ll need to ask yourself beforehand to fully understand how much money starting your business will cost you.
Quick Tips on Starting Your Online Business
Let me now give you a few quick tips on starting your online business wisely.
Start Small
If you don’t have much experience online or in business in general and are looking to start your own online business, my advice for you is to start small with little to no expenses and build your way up.
I always advocate that my businesses need to pay for themselves.
When I start a new online business, I keep the costs as low as possible and try to earn money from that business so that it can pay for its own expenses.
Then, as they bring in more revenue, I can use that money to reinvest in them and take things up a notch by outsourcing, hiring help, getting new tools and more expensive stuff.
Invest More Time
To start small and spend little money, you should instead invest more of your time and do things by your own.
That is the biggest benefit of doing things yourself, you don’t have big initial costs.
You’ll just have to invest more of your time… as long as you have it, of course.
Work Smart
If you’re working a 9-5 job, have other responsibilities that occupy most of your time, then you’ll need to be as effective as possible with the small amount of time you have left.
If that’s the case, don’t worry!
Sometimes having more than enough time on your hands is counter-productive! We get lazier, we procrastinate more often and it seems that the number of things we need to do grows and fills the extra time we thought we had.
This is the so-called Parkinson’s Law which I had already mentioned on this podcast (on Episode 3).
The good news is that, many times, if we have little time we tend to focus more on what really matters and get things done before we know it.
So it’s all about how smart you work and how productive you can be. It’s all about your dedication, drive, focus and effort that matters here.
Build Your Audience, Trust & Authority
Start by building your audience, trust and authority in your niche or market.
This can take a while as things don’t just happen in a blink of an eye, but there are ways to do it faster… if you have the resources.
Some legit strategies to earn trust more quickly are betting on advertising to bring people to an event (such as a webinar) where you provide value to them for free, helping them in some fashion and prove that you know your thing.
How Much I Spent When I Started
When I started online back in that prehistoric year of 1999 or 2000 (I can’t recall the exact year now), I used free services to host my websites and didn’t spend any money at all on any other online services or tools.
I coded my websites using Microsoft Frontpage or Notepad and designed my websites graphics and edited my images with some other software programs that I had installed on my computer.
I betted on search engine optimization to drive traffic to my websites and that was it. (SEO — Search Engine Optimization — was very far from what it is today but there were already some tactics to rank high in the search engines that were around at the time.)
The thing with hosting your website or blog on a free hosting service is that you’re using someone else’s platform, meaning you can’t control it nor decide what to do or change as you like.
In my case back then, they put ugly ads on my pages automatically.
That’s why you should always have own your website and pay for your hosting plan so you can have your homebase online and full control over it.
These days hosting plans are super cheap so that’s no reason to avoid spending such a small amount of money.
Cost Benefits of Starting an Online Business
As I said back in Episode 2, starting an online business has great benefits over starting any other kind of business.
Especially related to your expenses, your initial ones and also your ongoing expenses; more so when it comes to passive-income online businesses.
Lower Upfront Investment
Compared to a traditional brick-and-mortar kind of business a lower upfront investment is required as, amongst other things, you don’t need to buy or rent a store or a physical location.
Not needing to spend a massive amount of money up front is super cool, because it reduces the risk of losing a lot of cash and increases your potential profit margins.
Simpler Businesses Are Incredibly Cheap
Easier and simpler businesses to start are incredibly cheap. Many of them will cost you around or less than $100 a year to get going and all you’ll have to do is to invest time and work smart and productively.
How Much Money Does It Really Cost to Start an Online Business
So… how much money does it really cost to start an online business? What are the costs of starting an online business?
Enough of theory and considerations, time to get practical and more direct.
I’m going to review with you some foundational business building blocks you need to have in place so you can get a feel of how much you’ll need to spend.
Foundational Business Building Blocks
Website
Your website is the most important building block of your online business.
Regardless of the type of business you’re running, you should always have a website of your own.
(There could be some exceptions to this rule but, even so, having this kind of a presence in a special and specific place online is more than just a good idea. It makes your business look more professional and trustworthy.)
Let me reiterate, you need your own website, something that you can fully control and on which you’re free to decide what to do and how to do it.
Don’t just live on someone else’s or some company’s platform (like YouTube, Facebook or Tumblr), because you’ll never know what tomorrow will bring.
Their rules might change overnight, you can get banned for no apparent reason, they might even decide to shut down their services just like that and so on.
Several Hosting Options
Hosting your website on a paid service won’t cost much either and you have lots of options, some more expensive than others, of course. There’s Bluehost, HostGator, SiteGround and WP Engine, for example. [Affiliate Disclaimer: These are affiliate links, which means I earn a commission — at no extra cost to you — if you end up purchasing these products through these links.]
Some hosting companies, like Bluehost, will even offer you a free one-year domain name registration when you sign up. Their discount offer of $3.95 a month for their basic shared hosting plan only applies if you opt for a 36-month plan, though.
There are even some insanely cheap hosting companies out there, but with very small prices quality and customer service suffers. So be careful with that.
My Hosting Recommendation
I recommend SiteGround as a good and reliable web hosting with everything you need, including a good customer service and support, WordPress one-click installation, cPanel and all that good stuff I enjoy. [Affiliate Disclaimer: This is an affiliate link, which means I earn a commission — at no extra cost to you — if you end up purchasing this product through this link.]
I used to recommend another hosting company but, as an affiliate marketer, I’m always looking for the best products and services that can truly help my audience and SiteGround is my favorite one at this point in time.
SiteGround is also the favorite option amongst my mastermind group friends — I know because I made sure and asked them some time ago when I wasn’t happy with my former hosting company.
They offer a free website transfer service making it easy for you to make the switch to their servers, if you’re hosting your website elsewhere.
A basic shared hosting plan runs for $3.95 (it’s also 3.95 in Euros plus taxes if you live in Europe) and you can sign up for 12, 24 or 36 months with no setup fee. You can also take the 1-month trial that costs $3.95 but it comes with a setup free of $14.95 or €12.
If you’d like to take my recommendation and sign up for SiteGround, head on over to: onlinebusiness.fm/siteground. This is an affiliate link and earn a small commission at no extra cost to you, if you make a purchase after going through my link here.
Total Hosting Costs
Let’s take an economical approach here and say we would sign up for 12 months.
Our expenses would be $47.40 or €47.40 plus VAT (value added tax) if you live in Europe for one year of hosting on SiteGround.
Domain Name
Your domain name is also a fundamental part of your business and online presence.
Make sure it’s memorable, easy to spell and preferably not very long so that people can easily type it into their browser’s address bar whether they are on a mobile device or computer and quickly reach your website.
I’ve actually written a blog post with tons of tips on how to choose a domain name for your website on my blog. I’ll leave a link to that blog post in the show notes for this episode which you can find at onlinebusiness.fm/9
My Domain Name Registrar Recommendation
A good and reliable domain name registrar where you can get your domain names at very cheap prices is Namecheap. Their brand name says it all, right? [Affiliate Disclaimer: This is an affiliate link, which means I earn a commission — at no extra cost to you — if you end up purchasing this product through this link.]
Some people prefer GoDaddy, but I don’t like the tons of upsells you get thrown at you when you’re checking out, plus Namecheap is cheaper.
And, if you google for “Namecheap coupons”, you’ll find some coupons codes which will lower your domain name costs even more.
Again, if you’d like to take my recommendation and get a domain name on Namecheap, type onlinebusiness.fm/namecheap into your browser’s address bar. This is my affiliate link and I do earn a small percentage of what Namecheap makes but at no extra cost to you, if you make a purchase after following my link.
Total Domain Name Costs
At the time of this recording — May of 2018 — (and this applies to all the prices and costs I’ve referred so far and will refer to for the duration of this episode), you can get a .COM domain name at Namecheap.com for $12.16 USD or €10,24 Euro with free WhoisGuard for one year.
WhoisGuard is a feature that hides yours, as the domain name registrant, personal information details such as your home address and phone number.
If you apply the domain name registration coupon code for this month, this will lower your domain name costs to $10.13 USD or €8,53 Euro.
Website Layout
How your website looks is important, as well, in establishing an image of credibility, professionalism, authority and trust.
You could hire a designer or a web design company to take care of your website’s layout or, if you’re using WordPress as the free CMS (Content Management System) that powers your website or blog, you could simply purchase a premium WordPress theme.
Each of these options will cost different amounts of money with the former being the most expensive one. A WordPress theme, on the other hand, could cost you anything from just a dozen dollars to hundreds of dollars or euros.
The premium WordPress theme I have installed on IncomeProdigy.com has cost me $129.95, but it’s a package that includes the theme itself plus the Genesis Framework which is the basis of every StudioPress WordPress theme. [Affiliate Disclaimer: These are affiliate links, which means I earn a commission — at no extra cost to you — if you end up purchasing any products through these links.]
If I were to buy a new theme from StudioPress to install on that same website, I wouldn’t have to buy the framework again.
There are other companies selling premium WordPress Themes too, naturally, and you don’t have to install any framework at all, but the Genesis Framework basically improves your WordPress installation and makes it easy for you to customize and edit your themes without having to redo all the customizations and edits, if you ever update the theme sometime in the future.
There is a third option, too. You could just simply use a free WordPress theme and that’s it! But it looks so much better to have a premium theme. I guess it’s up to you to decide in the end.
Total Web Design Costs
Continuing with the cheap approach here, let’s imagine we would get a cool-looking premium WordPress theme like Brite on ThemeForest for $21 and let’s continue with our episode here. [Affiliate Disclaimer: This is an affiliate link, which means I earn a commission — at no extra cost to you — if you end up purchasing this product through this link.]
Logo
Your brand’s or website’s logo is another important element of your online business.
You could outsource your logo design and have a freelancer do it for you on Freelancer.com or on Fiverr.com or you could try and design it yourself using free tools like Canva.
Some months ago I gave Freelancer [Affiliate Disclaimer: This is an affiliate link, which means I earn a commission — at no extra cost to you — if you end up purchasing this product through this link.] and Fiverr a try and ordered two logos for two of my different websites. I spent $90 on Freelancer (but could have spent less money) and $30 on Fiverr.
The $90-logo I got from Freelancer was the best looking one.
I ran a contest there (on Freelancer) and got hundreds of applicants each one showing me a different logo design option and I also kept asking for improvements and changes until I was happy with the final design.
Total Logo Design Costs
Let’s keep it simple and imagine we would only spend $30 on our logo design.
Total Website Expenses
Time to do some math here and tally up our expenses so far.
So we spent $47.40 on our web hosting, plus $10.13 on our domain name, plus $21 on the WordPress theme and $30 on our cute looking logo.
That equals $108.53 US dollars or, converted to Euros at the time of this recording, €91.58 Euros.
If you wanted to save some money on your WordPress theme and design your logo yourself, that would lower your expenses to $57.53 US dollars or €48.54 Euros only.
Pretty cheap so far, right?
But we are not over yet so let’s carry on, shall we?
Other Crucial Business Tools
Email Service Provider
One of the best investments you can make on your business is building an email list, right from the get-go.
After all, “the money is in the list” and what better way to follow my recommendation of building your business on top of your own online property or platform than to collect email addresses from members of your audience?
A database like such that you can control is beyond important! Having an email list is crucial for your business!
To build an email list then, you’ll need an email marketing service with an autoresponder feature like Mailchimp, GetResponse, Aweber, InfusionSoft or ConvertKit. [Affiliate Disclaimer: This is an affiliate link, which means I earn a commission — at no extra cost to you — if you end up purchasing this product through this link.]
You already know my approach when it comes to investing money into my online businesses, right?
My investment budget grows as my earnings allow it to grow.
I recommend going with a cheaper option (but always something that has quality and you can trust) and move to the next best and costlier option when you can afford it.
My Email Service Provider Recommendation
Under that perspective, I would go with Mailchimp first because it’s the least expensive good option.
They even have a free subscription plan where you can collect up to 2,000 email list subscribers but that free plan doesn’t come with automation. Meaning, you can’t send an automated sequence of emails whenever someone signs up to your email list.
Total Email Service Provider Costs
Mailchimp’s service will cost you $10 a month, if your list has less than 500 people and $15 a month if you have less than 1,000 subscribers.
I’ll leave further details regarding other email service provider options, how much they would cost you and how I would go about moving up the ladder from the cheapest option to a more expensive and powerful one as my business grew to another episode.
Keyword Research Tool
If you’re a blogger, SEO or are using content marketing to drive traffic to your website and make more sales then a keyword research tool might be an excellent addition to your arsenal.
Keyword research tools inform you about the most searched-for terms on Google and on other search engines.
If you target those keywords on your blog posts and apply other SEO techniques you might be able to rank high in the search engines and drive free organic traffic to your website or blog.
My Keyword Research Tool Recommendation
My favorite keyword research tools are Ahrefs and Long Tail Pro. [Affiliate Disclaimer: This is an affiliate link, which means I earn a commission — at no extra cost to you — if you end up purchasing this product through this link.]
Ahrefs is an all-in-one SEO solution that includes a keyword research tool and its cheapest plan costs you $99 a month — people in Europe might have to pay VAT too to use Ahrefs.
Long Tail Pro is a keyword research solution (it also includes a rank tracker) and costs you $37 a month, if you choose to pay monthly or $297 a year (which is $25 per month) if you opt for the yearly payment.
If you want to give Long Tail Pro a try, you can pick their 7-day free trial and see if it fits you or not.
Go to onlinebusiness.fm/longtailpro to check it out. Again, my friend, this is an affiliate link and I do earn a commission at no extra cost to you, if you end up getting Long Tail Pro after going through my link.
Or you could instead opt for Ahrefs for which I’m not an affiliate (at least, not at the moment). Just point your browser to Ahrefs.com.
Total Keyword Research Tool Costs
Having said that, to keep our costs low, let’s say we would get Long Tail Pro’s monthly plan at $37.
Total Expenses
Okay… that raises the amount spent so far. We need grab a piece of paper and a pencil, a calculator or our brains to sum all of this up.
Our website expenses (web hosting, domain name, WordPress theme and logo) were at $108.53 US Dollars or €91.58 Euros.
To ease our math here, let’s turn our keyword research tool and email service provider monthly plans into yearly plans.
Long Tail Pro with the discount you get from paying yearly is $297 and Mailchimp is $120 per year (as long as your number of subscribers doesn’t go above 500).
That’s $417 total.
Sum that up with our website costs and that equals $525.53 or €443.07 euros total in one year.
Now, not everyone would need a keyword research tool, a premium WordPress theme or a logo design so your costs could even be lower.
And you don’t have to pay recurring fees for all of these items, some are one-time payments and that’s it.
Comparing Online Businesses to Other Kind of Businesses
If you compare our around $500 US dollars in expenses in one year to the amount you would spend just starting an offline type of business, it only shows how much cheaper and therefore less risky it is to start an online business.
It’s less risky precisely because you’re not putting so much money on the line and are basically investing more time than money.
Plus the success rate of an online business is higher than that of a traditional business and the return on investment is faster and higher with an online business, as well.
Different Types of Online Businesses & Their Costs
If you are planning to run a different type of online business where your website isn’t the central place on which your audience consumes your content, like hosting a podcast or starting a YouTube channel, there are other kinds of expenses to take into account.
I won’t get into too much detail here, but you’ll need to buy proper recording gear like mics, headsets, a good camera and lighting for your videos, a media hosting plan for your podcast and the list goes on.
If you’re planning on selling an eBook on your website, you need to get a shopping cart service like e-Junkie, Gumroad or SamCart. Prices vary between $5 and $10 to $99 a month.
Besides the shopping cart service, you’ll also need some kind of landing page tool like LeadPages to promote your eBook. LeadPages’ lowest price is $37 a month, if you pay on a monthly basis.
Or you could create a landing page on your website yourself for free, of course.
You’ll also need to drive traffic to your landing page through paid advertising like Facebook Ads, whose costs will depend on how much you’ll be willing to spend every day on your ad campaigns.
More Stuff You Could Spend Money On
You could, of course, spend even more money on other stuff like premium WordPress plugins to boost WordPress’ core functionalities or getting an account at DepositPhotos.com or similar services to have access to countless quality images and be able to use them on your website and blog posts.
And, as your business would grow, you could eventually consider building a team to help you out. Liking hiring a Virtual Assistant and / or outsourcing some of the most repetitive and time-consuming tasks to other people.
UpWork.com, Freelancer.com and Fiverr.com are good places to search and find the help you need, but don’t forget to do your due diligence and make sure you only hire quality, trustworthy and reliable freelancers.
Focus On the Most Important Stuff
Regardless of how much it will cost you to start your online business, don’t let it distract you from the most important stuff:
I keep and will always keep emphasizing this key point:
You should, first and foremost, focus on helping and serving your audience by understanding their problems, concerns, worries, pains and troubles, their questions, doubts, needs, wants and desires.
You need to research who your ideal or target customer is and make it a mission and a goal for your business to address and solve all of the things I’ve just enumerated.
Validate Your Business or Product Idea Beforehand
Save yourself from losing boatloads of money and precious time by validating your business or product idea before actually spending those invaluable resources to start your online business.
A good way to validate your ideas while, at the same time, get funds to jumpstart your business is to make use of crowdfunding platforms like Kickstarter, IndieGoGo or GoFundMe.
You’ll be able to get much-needed funds to support the development of your product, validate your business idea, collect email addresses, start building a community of fans and get people excited about your launch which will really help boost your sales in the beginning stages of your online business life.
A great book that will help you with business and product validation is Will It Fly? by Pat Flynn. I had already mentioned it in a previous episode and here it is again. It’s totally recommended.
Go to onlinebusiness.fm/willitfly. Full disclosure: This is an affiliate link and you already know it: if you follow this link and make a purchase, I’ll earn a commission at no extra cost to you.
Conclusion
All right, my friend!
That concludes Episode 9 here where I explained you a lot concerning the topic of “how much does it cost to start an online business”.
You learned that the cost of setting up an online business basically depends on the type of business you’re planning to start, your goals and objectives and how much money or time you have available.
I also gave you some tips and advices so you’re sure your business or product idea has wings to fly, ways to save money, get funds and a lot more.
Show Notes Page
To get all the links and resources mentioned in this episode of the Online Business FM podcast, type onlinebusiness.fm/9 into your favorite browser’s address bar (mine is Mozilla Firefox) and hit Enter.
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Just go to onlinebusiness.fm/ the name of your favorite podcasting directory or app or device and you’re there! For example, onlinebusiness.fm/alexa.
See You Next Time
Ok! That’s a wrap! Thanks for listening and for being there! You’re super cool!
Keep rocking hard and I’ll see you again in the Future… or in the Past!
From Lisbon, Portugal to the World, this is Louie Luc and I’m signing off!