Stuck On Getting Started

[NickG]

Hi,

I've been researching starting an online business and feel I have a very solid understanding of how one will run. I easily have more than enough knowledge to get started. However, I've been running into a lot of issues with starting one since I have only a few dollars to my name at this given point in time.

I know how to...

research markets and analyze traffic to determine if the market is even worth investing time in.
Search Engine Optimize sites (very beginners knowledge here, but more than enough to get started)
play with AdWords and AdSense. I don't have a lot of experience but I've been studying it for some time and I have learned from people who generate millions per year through Google alone.
utilize tens of Web 2.0 networks to drive natural traffic to any site.
much more!


The problem I'm running into is where to go? I've made a dog training site targeting a small niche. I was able to generate traffic with almost no effort. But this isn't really the route I want to take. It was just a test site and wouldn't really earn more than $30 per month even after a few hundred man hours.

I read through Tim's post about the contest he's running through Shopify. I'm not really concerned about the contest itself since it's already almost halfway over, but I feel I could use Shopify and combine it with my knowledge to create a highly profitable business. My problem here is I don't have a physical product to sell.

Like I said, I have the knowledge to start, but if I kept making small websites it'd take me at least a year (more likely two or three) to really get anywhere with profits higher than 1k-2k/month.

One final factor: I'm completely broke and I have a job that's made an almost 100% cut on my hours. I don't have anything to invest aside from my time, but I have A LOT of time on my hands due to the hours cut. I've been applying the knowledge given through the 4HWW (revised edition) but I can only go so far without an actual business to apply it to.

I know plenty of methods when I have access to money, but none that seem achievable without a few hundred dollars. And I'm having trouble saving from an income of less than $150 a month.

So, my overall question would be: What kinds of actions could I take to launch a business without having to spend over $50?

I appreciate any and all tips. I'm determined to find my solution; I feel I'm on the right track arming myself with knowledge and saving it for post-launch.

Cheers,
Nick

[AzharHafiz.com]

an idea >> http://cupcakestop.com/

[NickG]

That gave me a few ideas for a site. Does anyone know a shipping service that includes shipping frozen products?

See...I have several ideas. Some of them are big. There are a few I know will be highly profitable if I can start them in the next five years. But in order to take the first step on them I need to have a bit of money in the bank. So I'm forced to find alternate routes which are usually not so great on dollars earned per hour even in the long run.

I know I'll find something though. Given the alternative of a 9-5 lifestyle, it's not like there's really another option! :)

Thank you!
Nick

[kamakiri]

There is a baseline starting point here. Having a few hundred dollars to throw at a problem makes it easier, but unnecessary.

First of all, watch this: Quieting the Lizard brain (http://vimeo.com/groups/17167/videos/5895898) (it is 18 minutes long, watch the whole thing)

Next, you can do a lot with no money. Starting this year I began doing leadership seminars. My first one was marketed with a simple email on a one-list. It was a resume workshop for English teachers who are at the end of their contract. It cost me $6 to rent a room at the local library, and I charged $50 per person. Instant cash.

you can do the same thing. With lots of time and no money, you need to focus on LD and 'shipping', as Seth calls it. Ignore most of the automation stuff because you don't need to automate it yet.

Take your dog example. It doesn't cost much to make a few fliers. Come up with an effective way of getting them out. Ask the local grocery store to put them up next to the dog food. Get them up in a pet shop, or ask the manager to refer people who inquire about dog training to your cell phone.

Buy or download Ready, Fire, Aim and read it. Ignore the first 3 chapters, and get that mindset.

Give yourself a license to screw up, as the quickest way to success is to increase your rate of failure.

[NickG]

Kamakiri, thank you for your response. It generated many great ideas right away! I just wrote down two post-it notes full of goodies.

I really enjoyed that video, too. I've heard of Seth Godin and his recent book on this but I never went searching for any videos on it. I wish I had a month or so ago! It was very informative on building the right mindset and helped me realize just how often I've 'thrashed' out of shipping. Thanks so much for showing it to me.

I'm going to move forward on a few of these ideas for getting some cash flow. Thanks for the advice and for sparking what may be my next source of income!