How to start a new business for $10: A step-by-step how-to guide

Want to start a business but not sure if you can afford it or what the next step should be? In this blog post, you’ll read a step-by-step guide about how to start a new business for $10. There are other ways to start a business but this is (in my opinion) one of the easiest and most affordable ways to start a new business!

Some people start off knowing exactly what they want to do: They might say: “I want to start a freelance writing business” or “I want to sell an ebook about making money online” or something like that. For others, this step is really hard: They might want to start a business but have no idea where to begin. Fortunately, it doesn’t matter if you know what you want to do or if you don’t. Just follow these steps to start a business:

STEP ONE: IDENTIFY YOUR MARKET
Who do you like to talk to? What hobbies and interests do you have? What do you like to spend your time thinking about? Don’t worry so much about what you’ll sell just yet, start by thinking about who you will sell to. Pick a group of people that you can see yourself working with. For example, you might choose a vocational group (mechanics, dentists, entrepreneurs, etc.) or a demographic (women, seniors, teens, etc.) or an interest (video games, gadgets and tech, etc.). Narrow the group down a bit by combining some of these elements (women entrepreneurs, seniors with an interest in tech, etc.). This group is your target market. Get to know them well (especially if you aren’t part of that group). Read what they are reading. Talk to them. Watch the shows they’re watching. Browse the sites that they’re looking at.

STEP TWO: LIST THE PROBLEMS THEY HAVE
List the issues, concerns, and problems that your target market has. It doesn’t matter at this point if you know the solution; it doesn’t matter if you already know what you want to sell. Just list all the problems they have. If you aren’t actually in this target market, it might be worth picking up the phone and calling a few people you know who are in that target market. List as many problems as you possibly can.

STEP THREE: START A BLOG
Go over to Blogger.com and sign up to start a blog. While you’re there, buy a URL for $10.00 (which you can do right in the Blogger interface).

STEP FOUR: START WRITING CONTENT
Write content about the problems and solutions. (That’s right; you don’t have to know what you want to sell just yet. It doesn’t matter at this point). Write at least one blog a day. Write for as long as you can. Prewrite and schedule them if you don’t have time to write each day. Write and write and write and write. The point of this step is to build content, get your content out there on the web, and start to position yourself as a credible authority. The longer you can spend doing this, the better. If you have a job and you think you might like to quit it in a year to start a business, start blogging today. If you want to start a business and hope to start earning money soon, blog as much as you can right now. You’re not going to earn money off your blog in the first little while; just build up a big pile of authoritative, compelling content.

STEP FIVE: MONETIZE
Now it’s time to start selling. Figure out what you like doing and how you can solve some of the problems that your market currently faces. Maybe there’s a service you can provide. Maybe there’s an ebook you can write and sell (or some already-written ebook that you can offer as an affiliate). Maybe there are a few things you can do.

For (real and digital) products, check out Amazon Affiliates, Clickbank Marketplace, and AffiliateScout. For services, check out Guru.com and Elance.com. These are the things you can sell.

STEP SIX: MARKET YOUR BUSINESS
Continue to blog. Make sure your products and services are available to buy (and any administrative stuff you need to have in place is, in fact, in place). Now market your business:

  • Write articles pointing back to specific blogs you’ve written. Distribute those articles on article distribution sites like articlesbase.com and isnare.com.
  • Submit press releases on press release sites like free-press-release.com and prlog.org.
  • Sign up to sites like Guru.com and Elance.com if you’re selling a service that is relevant to those sites. Sign up to Clickbank.com if you’re selling a product that is downloadable.
  • Find forums where your target market is active and get involved.
  • Go to Google AdWords and try out some pay-per-click ads.
  • Sign up to social media like Facebook and LinkedIn (or some other social media if your target market hangs out somewhere else) and participate there.

Now it’s just a combination of aggressiveness and consistency in marketing, along with the refinement of your message and product. At this point, you need to stay focused and just keep plugging away at marketing.

Note: There are other business models you can use to start a new business but many would-be entrepreneurs want to get their first business running quickly and affordably. In my experience, this is the most effective way to go.

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