One seismic shift in the business landscape (amid many others) that eCommerce has brought about has been the democratization of entrepreneurship to a level unknown before. For one thing, it really is entirely possible to get started without any startup capital. Gone are the days when the establishment of business meant the opening of premises and the hiring of some staff. You can simply do it from your computer.
Of course, e-commerce has not in any way made business easy. An e-commerce business must still contend with an ever-competitive field and must build a customer base if it is to get anywhere at all. And the aforementioned democratization that eCommerce has been something of a double-edged sword. While it has never been easier to set yourself up, the sheer multitude of budding entrepreneurs doing precisely the same thing can make it exceedingly difficult to stand out.
Starting an Ecommerce Venture with Zero Capital
One thing that ecommerce has in fact made possible is the ability to start a business without initial capital. Just as ecommerce merchants make massive savings on premises space and teams of staff, internet connectivity has also taken a lot of the cost out of starting a business.
However, there is a way to go about it but again, it will not be easy. Or at the very least, it will not be easy to see any kind of meaningful growth in your business. This is still something you need to make happen by cultivating a customer base and having a top product. Nevertheless, here are some steps to follow if you are starting an ecommerce venture with no money whatsoever.
Invent a Business Idea
It is often said that coming up with a business idea – which in practice usually means a product or service – is only half the battle. The other half, they say, is funding that idea. But luckily, the latter does not mean you have to spend much (or any) money when you’re just getting started. This is how to begin, but bear in mind that your idea for a product or a service must be in demand enough to attract a sizeable customer base, yet niche enough not to get drowned out by many others doing the same thing.
Sell Your Services
Naturally enough, making some money is one of the best things to do when you are starting out with no cash. It might be a while before profits come rolling in, but you can sell your services from the off. If you have any skills such as freelance writing, web design, or anything related to e-commerce, this could supply you with a revenue stream until you can start making money from your business venture.
Consider Dropshipping
Dropshipping refers to order fulfillment carried out by a third-party service. But more than just this, dropshipping is uniquely suited for those starting out with a tiny budget because it is possible to only arrange purchases of stock when you make a sale, saving you from buying a lot of inventory or paying for expensive storage space.
Consider Wholesalers
Olympic Eyewear, a national sunglasses wholesaler, say that a great deal of their sales of assorted sunglasses batches goes to small businesses selling through e-commerce. Wholesalers offer a value for money (per unit) that you cannot get anywhere else. Moreover, if you pick a good and dependable product, you can be sure it will sell.
Ultimately, it would perhaps be fair to say that it is business sense and savviness that will carry you far in the early days – not startup capital.
