Can you really start an online business with no money down? Maybe. If you want it to grow, eventually you're going to have to invest.
If you’re planning to start a business in the online marketing space, you’re probably going to have to invest some money to get your business off the ground. Now you’ve probably heard a few online entrepreneurs say that you don’t have to invest money and that all you need is your laptop, an internet connection, and some time. But there’s a little more to the story.
Theoretically, you could possibly start an online business for free. There are a few crazy success stories of people who have built massive online businesses by investing $100 or less. But this isn’t the norm. The reality is that most people need to invest quite a lot of money, time, and effort before they can build a profitable business.
It’s better if you know that when you’re getting started with your business. Otherwise, it’s gonna be tough for you and you might end up giving up because you had the wrong expectations going in.
In this post, we’ll talk about three areas where you need to be willing to invest in your business.
If you already know you need to invest in your business but aren’t sure what to do first, I’ve got the perfect solution for you: BADA$$ Online Marketing University. This is my completely FREE signature program where you can get the training and support you need to build and market your online business.
1. Investing Time
It’s not something that a lot of people think about, but you need to understand that your time is valuable. If you’re choosing to build an online business versus getting a job, you have to understand that you’re investing time, and time has value.
You need to think about the time you’re gonna spend building your business and recognize it as an investment. But let’s be clear: if you’re expecting that you can build a business overnight, that you’re not going to have to do much, that passive income is easy, and that you’re only gonna work four hours a week, well, you’ve got another thing coming.
The four-hour workweek notion is nuts. You need to set the expectation that you’re gonna invest time for a long time before you see a return on your investment.
When I see people who have no online business or haven’t made a dime online say that they’re gonna quit their job and go all in, I say, “No, don’t do that!” Because it might take eight months or more before you see any return.
If you have money saved up and you want to quit your job and go all in, great. But you should expect that it will take a considerable amount of time before you start to make money.
2. Investing Money
Creating an online business requires money, and you need to understand that you’ll have to spend money on things you need to run the business, like software and tools. While there are free options out there, some things are going to cost money.
If you’re starting an online business and can’t afford $50/month for software, you’re going to be in a tough spot. Now you could bootstrap it, but maybe you should take some time before you jump in to save money or find another way to bring some money into your business.
3. Investing In Training And Coaching
At some point, you also need to invest in coaching and programs that help you network and meet the right people. Some of the most important relationships that I build in this business have come from me being willing to invest money and sign up for a program.
Some people talk about how it’s not fair that you have to buy your way to these programs that lead to networking and more opportunities. Unfortunately, life isn’t fair.
If you want to speed up things in your business, you’re gonna need to invest time and money in coaching and networking opportunities. You need to spend on these different things that will help you build your skills and expertise and become a better entrepreneur.
Be Willing to Invest
This isn’t an exhaustive list of the things you’ll have to invest in for your business. But being intentional about these three types of investments will help you have the right mindset when starting an online business. It’s also helpful to keep in mind that as online business owners, we don’t have a lot of costs to cover compared to brick-and-mortar stores.
If you want to build a successful online business, you need to have the mindset that you should be willing to invest time and money in your growth. If you’re not willing or you’re in a position where you can’t invest, I’m going to be honest with you and tell you that you’d be better off trying to get a job. I know it’s tough love, but it’s the kind of love that I give to my audience.
Ready to learn more about what you really need to build a lasting online business? I’d like to invite you to join my program BADA$$ Online Marketing University. This is a completely FREE program where you can get the training and support you need to build and market your online business.