When an individual thinks about starting a business, it is often with images of significant start-up capital and overwhelming debt.  The costs of commercial leases, fixtures and improvements, inventory, and staffing are high: starting a business can be quite financially overwhelming. 

Thankfully for aspiring business owners, the internet has created a tremendous revolution.  No longer burdened with the start-up expenses of brick and mortar businesses, anyone can start a business online with minimal initial investment costs.  In fact, many online businesses do not cost any money to create.  For example, if you decide that writing about your expertise can garner you a strong audience, then you can begin blogging to earn income – all without spending a single start-up dime.    

How to determine which business is right for you

Almost everybody has a passion or field of expertise.  Quite often you can find a way to turn your passion into profits, online.  Do you enjoy making crafts?  You can sell your wares on different craft communities, such as the powerful www.etsy.com. Do you enjoy commenting on professional sports or your favorite team?  Create a blog with your commentary and predictions, and the fans will pour into your site, earning you advertising money by selling ad space. 

What do you do well?  For example, if you are educated in the medical field, you may want to consider performing medical billing and coding work online.  You can create your own business working as a third-party contractor in transcribing sensitive medical information. 

A very interesting story about an early Internet success involved a lady in remote Kansas who wanted to start a business but was missing two ingredients; money and customers. She loved the prairies but, the only thing moving by out there were tumbleweeds. So, she decided to “turn a pig’s ear into a silk purse”.  This clever lady created a website, www.prairietumbleweedfarm.com that told the story of the beauty of the tumbleweed and then proceeded to sell them online to folks back east. Those people pay up to $25 for something that grows like weeds out west.

Different types of internet based businesses

Here are three business models for online businesses:

• Sell products through an online retail store. How would you like to have a store on Madison Avenue and 57th Street in New York? Thousands of people would walk right by your store every single day. Guess what? The rent on such a store would make your head spin. Unlike a brick and mortar store, an online retail store has no rent and a larger target audience. People look specifically for you and your products online rather than simply walk by your store by chance. You can set up a store and sell items from your garage or you can become an affiliate of another company and utilize your storefront to sell their goods for a commission, which means you never need to keep inventory. Amazon.com , for example will allow you to set up an affiliate store that sells their products, with a commission for your trouble.

• Create an informative website and sell ad space.  If you can bring in traffic to your website or blog, then you can easily sell advertising space. Companies are constantly searching for advertising opportunities to reach a loyal audience.  For example, Google and Doubleclick will stream ads to your website and pay you for viewers that click through to the ads.

• Work as a freelancer.  The international community on the internet provides you with an array of potential clients.  Whether you have programming or calligraphy skills, your online business will profit from having a large potential client base. Elance.com is a wonderful source to both find and sell outsourcing services.  

Business opportunities found online

The available opportunities found online are endless; as the internet evolves daily it creates new business models.  In fact, you can instantly start a new business model online, whether you work as a freelancer, affiliate, or blog writer.  There are a myriad of opportunities online, including several common business models: 

• Data entry work
• Freelance design or programming services
• Affiliate marketer
• Medical coding / billing
• Legal transcription
• Blog writing
• Online retailer

With the continuous expansion of opportunities online, starting your own business with little investment can become a reality.  You simply need to evaluate your interests and expertise, and you can quickly create a business with high ROI.  Through hard work and persistence, an internet entrepreneur can earn significantly more than their “day job” salary – all from the comfort of home.