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While not everyone is going to have the funds to pay for everything they need to start a startup, bootstrapping means that you retain 100% control within your company. If you can bootstrap your company to an exit or IPO, youll probably never need to work another day in your life.Pitch to VCs/Angels/other investors: If you need some serious cash to cultivate your startup, then youll want to put together a pitch deck and reach out to investors who may want to offer you the money you need in return for a stake in your company.Join a startup accelerator: Another fantastic option is to apply to a startup accelerator such as Y Combinator, 500 startups, or TechStars, in which a group of investors can help coach you, connect you with potential partners, and provide startup cash in return for a little stake in your company.
Fortunately, there is now more assistance, education, and access to funding for budding startups than ever before. And a wonderful place to begin is with this list of 101 best free and inexpensive online business courses for entrepreneurs I put together.3. Construct and Sell SoftwareRight now theres an insatiable need for useful software.Whether its an important consumer application, an expert app to solve a specific niche issue, or even a time-wasting game you can play on your phone, you can create a massively successful business if you construct software which helps people.
Most of the applications and programs you use on a regular basis are made by massive companies or recognized development studios. Well, yes. But many successful apps, particularly those in the Apple and Google stores, are made and promoted by individuals and tiny businesses. In fact, independent developers made $20 billion in the App Store in 2016 alone.There are two basic ways that you can earn money online by building applications products.The first follows the startup path we outlined above: You have a disruptive idea for an program or part of software, you affirm the idea with actual clients, and then raise money to employ programmers or even a development studio to build, launch, and scale your software.
Naturally, itll take longer time to get your product off content the ground, but being able to bootstrap the development of your applications lets you retain more ownership in your business and be in control of your path.If youre willing to spend some time to learn the development skills necessary to construct high quality software products (or even MVPs to assist you obtain funding), theres a growing roster of reliable online learning platforms like Treehouse, CodeAcademy, and Skillcrush to secure you the skills you need.4.
Websites like Shopify have made it even easier than ever to build a customizable, powerful eCommerce site in a weekend and start selling products now.This is probably one of the oldest and handiest methods of making money online. Plenty of electronic entrepreneurs have established sustainable businesses by either:Creating physical products they know people in their niche will lovePurchasing low cost products manufactured in foreign countries, repackaging or combining them together with different goods, and selling them for higher prices on domestic online marketplacesWhile youll certainly have higher levels of success if you can nail creating and marketing your own unique product, from my own experience (and that of many other entrepreneurs), I know the extremely high costs and risk associated with starting a product-based business.Instead, if you can find a solid product check my source thats already being manufactured at a reasonable price from a marketplace like AliExpress, LightInTheBox, or DinoDirect and market it to your audience, youll have the beginning of a money-making eCommerce machine.
Remember, even if you avoid paying rent on a storefront, you still need to store your inventory somewhere.Well. Not always. Theres another option thats become incredibly popular in the last few years (and is my own personal favourite way to operate a product business), called fall shipping.With fall shipping, youre effectively partnering with a manufacturer or wholesaler to sell their merchandise.
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You just create your website, fill it using fall shippable goods, and push in customers, with almost everything done for you.Of course, theres a higher price per product and your margins are lower, but youre able to begin your online shop with little more than the usual Shopify motif and a few hosted pictures of your merchandise.
