I met an old acquaintance yesterday. He told me that he started his own brick and mortar business 5 years ago and he just became profitable last year. It took him 4 years o break even and begin to make money. Brick and mortar businesses are significantly more expensive to set up, operate, and maintain than an Internet business.
In fact, a complete Internet business can be established on a shoestring using little or none of your own money. Of course, if you choose, you can spend ten's of thousands of dollars, but most people start their Internet businesses for a small fraction of that amount.
Actually, you can set up an Internet business with no money using the following techniques:
1. Set up a free website or blog.
2. Sell affiliate products to get started. Using affiliate products allows you to start your business without having to buy, store, or send out inventory. The merchant handles all of these details.
3. Use a free autoresponder to build a list. A good list is an essential component of any successful Internet business. A good list will double or triple the amount of money that you will make over the long term.
4. Use a free service to collect and process payments.
5. Use free techniques such as article writing, free ads, and forums to market your website, subscriber list and affiliate products.
6. Repeat step 5 over and over and over until you are making more money than you need.
7. After succeeding with step 6, pay someone to repeat steps 5 and 6 again and again and again.
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