How Much Do You Need To Start Up A Successful Online Business ?

How Much Do You Need To Start Up A Successful Online Business ?

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Hei Guys I am Weng Honn here , thank you for watching this video . Before I start today”s topic , I would like to invite all of you to join this exclusive community tha I created on facebook to help each others to success in online business . Just go to facebook and type in weng honn entrepreneur qna and click join group.I have also included the link to this facebook . So lets click on the link below and join the group now .

Alright I am sure that you already joined the entrepreneur community group.

Now , lets get back to our topic

HOW MUCH DO YOU ACTUALLY NEED TO START UP AN ONLINE BUSINESS?

Before we dive in deeper , I would like to clear some myth out .

ZERO COST START UP IS A LIE

There are tonnes of so called online business gurus that claim that you do not need any money to start and run an online business . In order to learn how it works , you need to join their ZERO BUDGET ONLINE BUSINESS COURSE , and this course will cost you 3000 dollars . So if 3000 dollars is not a cost , what the hell is this ?

So , in my opinion ZERO COST START UP IS A LIE ! In order to run a proper and successful business there will be some sort of costs included in setting up , running and marketing your online business. So do not be a noob in trusting those so called gurus.

MINIMAL EFFORT NEEDED

ONCE YOU FINISHED SETTING UP YOUR WEB SITE , YOU CAN SIT THERE AND THE MONEY WILL FLY INTO YOUR ACCOUNT .

This is BS as well . Money will not fly into your bank account just like that without you doing the hard work . You need to work your ass out , before you can earn your first dollars online.

GET RICH FAST SCHEME

I hate this the most . Way too many so called gurus out there , claim that they make their first bucket of gold literally overnight ! I do not believe in this BS, and you should not as well . Doing online business enable you to earn money faster that the traditional way because you get to leverage better , but not until earning couple f millions overnight .

BE REAL GUYS , IT IS 2019.

Now lets dive into the COMMON ONLINE BUSINESS MODEL AND also their COSTING.

The costing is just the minimal cost . It can be more depends on how big you want to build your business.

The first one we are going to look at is affiliate marketing.

OPTIONAL COST (WITH WEB SITE) It is optional , because you can run your affiliate marketing online business without a website .

– Domain Name $ 9.90/year

– Hosting $7.99/month

– Ads spending $ 30/month

Total Monthly Cost :

$38.80/month

MANDATORY COST (WITHOUT WEB SITE) so this is the minimum cost that you need to spend on monthly adstivesement such as facebook ads or google adsense.

– Ads spending $ 30/month

Total Monthly Cost :

$30/month

AFFILIATE MARKETING PLATFORM

Some of the popular affiliate marketing platform will be clickbank, linkshare and involve asia.

Next we are going to look at DROPSHIPPING business cost.

You might be wondering now , I thought dropshipping is zero cost? It can be zero cost , but in order to run a successful dropshipping business or any type of online business , there are cost involved .

If you are looking at setting up your own shopify store ,which I highly recoomended ,the cost will be

– Domain Name $ 9.90/year

– Shopify $ 29/month

– Ads spending $ 30/month

Total Monthly Cost :

$59.82/month

If you chooses to run your dropshipping business without having your own individual store , you only need to spent on our advertising.

– Ads spending $ 30/month

Total Monthly Cost :

$30/month

DROPSHIPPING COMBO

Lets look at what are the best dropshipping combo available for you.

– LAZADA + KUMOTEN/CB

– SHOPEE + KUMOTEN

-SHOPIFY + ALIEXPRESS/CB

-SHOPIFY+EBAY/AMAZON+

ALIEXPRESS

LAST BUT NOT LEAST BEING A COURSE CREATOR

Everyone of you will definately know something well. What you can do is to sell this “something “ and earn money.

I do know some instructor ,selling cooking courses online and earn like couple of thousands every month .

You can set up your own course selling website if you want .

– Domain Name $ 9.90/year

– Hosting $7.99/month

– Ads spending $ 30/month

— Course creation equipment $300 (one off)

Start up cost:

$338.90

FOLLOWING Monthly Cost :

$38.80/month

If you decided to list your course on the marketplace that the cost will be much more cheaper .

– Ads spending $ 30/month

– Course creation equipment $300 (one off)

Start up cost:

$330

FOLLOWING Monthly Cost :

$30/month

ONLINE COURSE  PLATFORM

By far the best online course listing platform that I will recommed for noobie is UDEMY.

So , as you can see over here , all online business will need to have a budget for online marketing . I mean you can do it without online marketing as well ,you can go for SEO blogging or collaboration with others people , but still there are cost involve as well .

So , I hope you have learn alot from this video . Feel free to subscrip to my channel weng honn if you like my video  .

And do not forget to join the entrepreneur group on weng honn entrepreneur qna .See ya

bye

 

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