I’m thinking that you may have found this blog post because you were scrolling through the internet, looking for information on starting an online business and wondering how much money and inventory you’re gonna need. Am I right? The reason I say that (in case you’re wondering) is because people ask me about it ALL THE TIME. “Alison, do you need a lot of money to start an online business? Don’t you have to order and carry a whole bunch of inventory?”
So do you need a lot of money to start an online business you ask?
Nay, my friend.
Nope. No. Negative.
Do NOT do it.
(Did I mention that the answer is “no?” Just wanted to check.)
The very idea of you spending a lot of cash in sourcing inventory before you even open your e-commerce doors practically makes me break out in hives. Oh, my heavenly days!
Here are FOUR RULES that I followed to start not just one business…but lots of them. And I want you to swear to me that you will not spend one single, solitary dime on inventory until you read them. Like a hand on a Bible, right hand raised, “I swear to tell the truth” sort of thing.
Rule One: Stop Overthinking It!
I’m going to tell you right now that when you’re looking for products you can log into a site and not come out until you’ve spent hours scrolling and spent WAY too much cash. Do NOT do it.
Rule Two: Start with One Product
When I got started, the place I looked first was…drumroll….my house. And you know what I had? A roll of black vinyl—the kind you use for crafting. So I cut it into sheets and put it on my site. One product, at pretty much zero cost to me. Seriously, look around to see what you already have and use it as your very first source for inventory!
Rule Three: Keep it Simple
Once you’ve sold your first item, choose the next one. Maybe it’s more of the same thing or maybe it’s something completely different. The secret is to just take the money you made from that first item and roll it into the next one. I found tags from a packaging company that I knew could get them to me in a couple of days, snapped some cute pictures, and listed them on my site. Boom! They sold.
Rule Four: Grow Your Online Business
Okay, so now what do you think I did?
Winner, winner, chicken dinner!
I took the profits from item number two, chose the next one, and put the system on repeat.
You can do the exact. same. thing.
As you do, you’ll learn what’s selling and, more importantly, build up the funds you need to start organically growing your online business. And you’ll do it all without investing thousands of dollars in inventory or other costs.
I promise this works. It has for me not just once or twice but so many dang times I’ve lost count. It absolutely can work for you too.
If you’re ready to start your online business, check out the blog posts right here on my site, follow me on Facebook or join my Masterclass to learn more about the magic of e-commerce. I’d love to have you join me on this amazing journey.
Talk again soon!