9 Tools to Start an Online Business in 1 Week with a Low-Budget (Part. 1)
How to get started today
I’m all for starting your own business in a short, efficient amount of time, and with a low budget. You want to make sure that your intentions are clear on starting a business and what value you’re giving to the public.
These are the learning lessons that I went through in starting my own businesses. This is the cheatsheet that helped me get my online services started in under one week.
Now, there can be hurdles that you can come across during this process, but if you stick to your objectives and your needle movers, you can actually get things done in one week. Usually the most time is used in researching the best platforms and what could work for your business..but I’ll be saving you time on all of this with these practical tips.
What might cost you the most? Your time.
These tips will help you get started today and get the ball rolling.
1. Select your niche: answer these simple questions
- Understand your why: Why are you creating a business? Why do you do what you do?
- Understand your offering: Are you solving a need that people are looking for? Do you feel that you’re differentiating yourself in the industry? Do you want to sell an online service, product or membership?
- Understand your target market and audience: Who are you targeting? How old are they? Which social media platforms are they hanging out on?
You can use Miro for this. It’s a great tool for brainstorming, strategic planning and more. It’s like a virtual whiteboard and can be collaborative with teams globally around the world.
2. Set up your LLC or Sole Proprietorship
If you are a U.S. citizen looking to set up your business because you want to become a freelancer or entrepreneur, you can set up a legal entity with Zen Business LLC.
They make it easy and affordable for small business owners to start, run, and grow their business with automation, expert support, and personalised service.
I set up my own LLC with ZenBusiness and obtained my EIN (Employer Identification Number) which is similar to a SSN but for your business.
3. Set up a Business Bank Account
These business accounts are needed to receive payments online. You can receive payments online through what’s called a “payment gateway.” I will share with you in step 4 why you need that.
Wise Business and Revolut are my favourites for international transfers as they keep things simple and easy to set up.
Download their apps on your phone and your finance upkeep will be smooth and efficient.
PayPal Business allows you to receive payments easily, and it’s a quick set up. PayPal has its own payment gateway service and it can be integrated with many websites to receive payments online.
4. Find your Website Domain
Bluehost is the best. GoDaddy is also pretty popular, but from a friendly customer service flow, I prefer BlueHost.
When you click on their website, select the option to the left — I’ve highlighted it in green below for you. You will want to purchase the web hosting only for now, as I will be sharing the ideal website builder to use in the next article.
This was part one of 9 Ways to Start Your Online Business in 1 Week With a Low-Budget.
In our next reading for Part Two we talk about how-to create a:
- Website low-budget
- Business Email
- Business Branding
- Social Media Strategy
- And lastly, a project management tool to list off your to-dos and help you delegate your tasks to a team.
Continue reading for Part Two on 9 ways to start your online business in 1 week with a low-budget.
Disclosure: Some of the links in this post are affiliate links and if you go through them to make a purchase I will earn a commission. Keep in mind that I only share about companies that I truly believe in. You can also obtain your own affiliate links.
