How Much Does Starting A Online Business Cost? – Building an Online Business Ep. 39

How am I spending $500 a month on all these
stuff? What’s up guys? Jason here, aspiring Entrepreneur and welcome
to Episode 39. There we go…. of Building An Online Business
From Scratch where I’m showing you everything I’m doing to put together an online sales
funnel and if you’re just joining me, I encourage you to hit that like button and subscribe
because we’re going to be going from A to Z and everything in between on how to build
an online business. But today, we’re actually going to go way,
way back to the beginning if I could have seen this video for myself and talk about
how much does it cost to start an online business and in this particular video, I’m going to
go through three different tiers from going to talk about $175 starting budget a $350
starting budget and a $500 starting budget. Now, if you don’t have at least $175 all leave
it up to you to kind of how you can tweak these things but really if you don’t have
a $175 for the entire year, it’s probably just hold off and save up until you can drop
that $175 and then of course if you have more than 550bucks excess of $550 then stay tuned
because I’m also going to talk to you what you should do with all that extra cash and
more importantly, most importantly what not to do with that extra cash. So, with that let’s go ahead and dive it. I want to take a step back from the cost for
a second and dive into specifically why we’re starting a business and what we need OK? Hopefully you already know you’re got a passion,
got a skill, that’s why you’re starting a business, that’s why you’re watching this
video. How much does it cost to get your online business
up and running? And then that leads us to No2. which is; why
do we need to purchase all the software? Why do we need a website? Why do we need to make Instagram photos? Why do we need to make YouTube videos? You know what’s the whole point? Hopefully, the point is to generate some income. I think that’s a big reason most of us go
into our businesses and of course share your passion or skill with the world. Normally, it’s one of those two things and
the quickest way to do that is to build a list, right? So, we need names and we need e-mails. I will say that one more time, we need names
and we need emails. That is the only thing that matters when you
are getting started. You could be posting on Facebook, you can
be running Instagram ads, you could be you know doing YouTube videos till you’re blue
in the face. But your online business comes down to how
many names and e-mails do you have? Now, I know there’s a lot of marketers out
there that say you don’t even need a name or an e-mail and well, I disagree, respectfully
disagree with that. So, with that being said, what are the tools
that you need to collect that name in e-mail because when you’re just getting started,
that’s what you need to focus on and so the first thing you’ll need is an auto-responder
obviously, because you need to collect the name and email and the good news is you can
go check out and they actually offer a free tier. So, that means that you can start collecting
main e-mails on day one with $0.So, maybe you’re using your personal e-mail and you’re
sending out you know links for people to sign-up to your list directly via MailChimp, so that’s
fine. So, there’s your $0 budget like if you have
no money whatsoever, just go pick up a free MailChimp account and start telling people
to go sign up. I know there’s a way to get sign-ups even
if you don’t have a website so there’s the simple, there’s the bonus zero OK. Let’s talk about the $175 mark; What do you
need to purchase to essentially launch your business? And when we’re just getting started, we really
want to be streamlined. So, here’s what we need, we need a domain
name, we need an auto-responder and we need a webpage. I said webpage not website. You don’t need to go build a giant website,
you just need a webpage that’s connected to an auto-responder on a domain you own. See how those three work together, and you
drive traffic to people into their name and email and Bam!!! you’ve got the name, you’ve
got the email, that’s the fundamentals of building your online business and I know that
might sound a little basic. However, it’s really easy to get caught up
in all these other things that are being thrown at us that you know auto-responder this, or
cool landing page builder this, or web analytics this, or cool new Instagram thing this, you
know it’s just about focusing in on what’s really important. So, I’m going to run through some tools that
I recommend you guys use all of the links are below,yes, they are! Affiliate links now a big caveat here is I’m
not going to dive into the pros and cons of each one of these right? These are my top tools over the past Four
and a half years of building businesses online and doing marketing and sales for my clients
online. So, I’m not going to do a review, I’m just
going to run through and these are my topics after going through a lot, a lot of headaches:
1. $175: First domain, we’re going to go over
the domains: just type in Google domains you know in a search engine and it
will come up for $12, you can get pretty much any domain you want, of course you can go
up to $30 if you’re doing that you know .uk or .co or you know .io If you doing one of
those because you can’t get the .com. Now, for the domain name, I think this is
really critical just use your name. You’re just starting out; your name will always
be relevant no matter what you do. If you want to completely change your business
in 3-months, 5-years,20-years your name is always going to be relevant to whatever you’re
doing. So, just choose your name you can always create
like a corporate or branded name later on down the road after you’re sitting on a bunch
of cash you just don’t know what to do right, what a lovely problem. So anyway, there’s a domain. Second, you need your hosting. So, going to go over to for $395
a month or 47 bucks for the first year, you’ve got all of your managed WordPress hosting
and yes, you’re going to be putting together WordPress site because that’s the most widely
used means cheap freelancers and it means easy and lots of tutorials out there on how
to use it. So that’s why WordPress and then of course
getting-there managed plan which is a little more expensive means you’re not going to have
to mess with any H.T.M.L. and if something breaks through WordPress they’re going to
fix it for you, you’re not going to be stuck with a developer in 12 or 3A.M. in the morning
trying to figure out why the heck your site isn’t working because of that happen to this
guy, it’s not funny. And then finally, you need your WordPress
theme and I highly recommend optimized press simply because it’s so versatile and it’s
so easy to use it’s a drag and drop and friends you don’t need to know, eat any code any H.T.M.L.
and they have a great database of videos for you to go through to learn how to use their
software and if you want to set membership sides, sales pages, landing pages, all that
marketing stuff, it’s already got a built in there for you so you don’t have to go get
a separate landing page builder if you’re on a tight budget. 2. $350: We’re actually going to do the exact
same thing. However, now we have a budget for Freelancers
and this is so, so, critical I cannot stress this enough, that extra money should go to
paying someone to do some work for you, so you can get up and running faster. The whole point of having started capital
is deploying it and using it on things that are going to help you get your end destination
much more quickly right? So, this doesn’t mean if you have more money
as you go buying a more expensive auto-responder, buy a more expensive theme or purchase you
know nicer hosting. No, that first bracket, this stuff is going
to be standard no matter how much you think you have just starting out because you’re
just getting started. That’s all you need for that name and email,
it’s always easier to scale up later all of these options that I’ve given you allow you
through to easily scale if money just starts being thrown at you on month number one but
if it’s a little dry, guess what? you’ve only spent $175 or $350 and you’re covered for
the whole year. You have a whole year to figure this out. So, the extra $180, I would recommend going
over to Upwork or Fiverr or getting someone to install the theme for you, getting someone
to make a landing page for you and then maybe paying someone to make some custom graphics
for your site. Essentially, that $180 should not go to another
software, it should go to helping to build your site or your page with the basic tools
that you need which brings us to: 3. $550:Now $550 again, still $12 for the domain
still $47 for the hosting still $97 for the theme. What we’re going to change here is I’m actually
going to recommend that you pick up click funnels that’s one of the things that you
can see on the markup screen behind me and that simply is a landing page software building
tool if you will, that will help you create landing pages, sales pages. it also has a shopping cart and membership
integrations, so if you have a bigger budget that would be the place that would be the
only $100 that I would put towards another piece of software simply because you can get
up and running faster collecting names, collecting emails so much more quickly now compared to
you know setting up the optimized press with your site for hosting versus click funnels,
you’ll be collecting e-mails within 30minutes that’s not I mean exaggeration, that’s no
joke. In 30minutes, you’ll be ready to go. With the optimized press, like around option
that’s on the cheaper side, remember if you’re you get what you paid for, right? so on the cheaper side, in the end you’re
going to have both products are going to be fantastic but it’s going to take you longer
when you’re using your own WordPress site. It’s probably going to take you a week or
two and that just depends on how much time you have, because unless you already know
how to use WordPress there’s going to be a steep learning curve whereas click funnels,
Done! I mean there’s literally no coding, you literally
just drag and drop just like optimize press, the difference is click funnels has gone out
of their way to self-hosted solution so there’s a lot more flexibility and it’s a lot quicker
to implement plus it’s got your shopping cart and your membership site, you’re pretty much
done with that and that leaves $290 approximately $290 left over and again that $290 goes to
drum roll please…Freelancers, OK. So, the biggest difference is simply had the
exact same software that we just had a budget to bring people on to help us and that’s critical
as a business owner. Remember, you’re a business owner so it’s
about working on our businesses not in our businesses so you don’t need to become a WordPress
expert, you don’t need to become a domain you know forty experts and see names in a
record blah blah blah blah blah if you can afford to hire someone to do that for you,
so you can focus on the importance part which is getting that name, getting that e-mail. Which means driving traffic, building your
audience, all that other fun stuff, that’s going to take you years to master then focus
on that and use your extra capital to pay someone who can you know install WordPress
and do all those things like 30minutes/1hour versus how long it’s your unit it’s going
to take you which is probably 8-10Hours. I mean I have spent all night just formatting
one page, so I know it takes a long time and you might as well just go Fiverr or Upwork
and hire someone who does it for a living who can do it much quicker and much more inexpensively. So, thank you for watching. I hope you found this video informative actionable,
I really have a lot of fun putting this together for you guys because I was looking at my internal
costs and all of the software I’m paying for as I’ve gone this way and that way putting
this together and I thought you know it would be great if I just shot a video where I have
this perspective where I could look back on all the money that I’ve spent over the past
you know Four and a half years and all the different solutions I try and see. Hey! if I was going to go all the way back
how much of what I purchase? How much would I actually have to spend to
get started? And I can tell you, this video alone, no joke
will save you thousands of dollars and hundreds of hours in wasted time. I really hope you go and check out those links
below yes some of them are affiliates, but these are all companies and services that
I actively use. There are five times as many that I will never
recommend ever again simply because of issues I’ve had in the past. So, I sincerely hope that this helps kind
of clear things up how much money do you need to get started and helps you focus, focus,
focus on what’s important so you can grow in scale effectively long-term to grow your
new business and of course until next week until that episode, keep building the business
you love, take care.

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2 thoughts on “How Much Does Starting A Online Business Cost? – Building an Online Business Ep. 39

  1. I am considering either a .com or .guru domain. but .Com is priced in 4 figures vs .guru just a few dollars what's best option

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