Starting a New Online Business – “I’m Afraid it Will Cost Too Much Money to Start”

Have you been thinking about starting a new online business, but have procrastinated because of start-up capital? There are literally thousands of online business opportunities advertised daily on Google, Yahoo and Bing. Just how much should it cost to start an online business? How can hopeful entrepreneurs get financial assistance for their new business?

The online business industry is experiencing incredible growth right now, in spite of the global economic crisis. There are literally hundreds of companies that offer opportunities in this lucrative market and they are extremely popular in Canada, the US, England and Australia. One of the reasons these opportunities are so irresistible to entrepreneurs are their affordable start-up cost.

To get the proper perspective on how affordable online business and home based business start-up costs are, you need to take a look at more traditional small businesses. Brick and mortar businesses and franchise opportunities were the only small business opportunities just a couple of decades ago and would cost anywhere from $100,000 to $2.5 million to get started. This price does not include insurance, employee pay, or operating costs. Most online and home based businesses cost anywhere from $500 to $3000 to get started. They often require no more than a phone and a computer, so thousands of dollars are saved every month with no employees to pay and no consumables to be replaced. Since all your business is done online, you don’t pay rent for office space or have to worry about insurance.

However, there is another cost to consider with an online business – training. The most successful online business owners have something most people don’t have – a winning mindset. Ninety-seven percent of Americans have an employee mindset which has taught them there is more security where there is less risk. Therefore, most of us get out of bed and go to work everyday for the guy or gal with the winning mindset. They get rich and we stay broke. If you are seriously considering striking out on your own, you’ll need to invest in yourself by purchasing books to read, attending seminars and getting involved in groups where you can network with other successful people who possess a winning mindset. Fifty to one-hundred dollars a month spent on your own personal development is an investment that will pay you back over and over and over.

Most new entrepreneurs have one thing in common: they are broke when trying to get started. There are several options to help you finance your new online business venture. Some people will use credit cards. Others will seek a small business loan to get started. I got some great assistance from SCORE when I was forming my online business. Their website is www.score.org. They offer several free online workshops to help new entrepreneurs write a business plan, complete financial projections and prepare for the loan application process. Another resource I found was to apply for grants. You can work with a grant writing company for a fee.

Don’t let start-up cost prevent you from starting your entrepreneurial journey! Research the different opportunities and resources available and be on your way to your new successful future!