In this week’s episode of the Extra Paycheck Podcast I am talking about the actual cost of starting and running an online business.
When starting a business most people think they need a big investment. Some people estimate it at a few thousands of dollars while others think they might need $100,000 or more.
The beauty of online business (at least several modes of it) is that you can start it with almost no investment. I am spoiling the episode a little bit here but you would need to buy a proper domain name and hosting at the very least, that’s under $100 per year. When I first started I used a free blog which was shut down soon after and this is why I always insist that people buy their own hosting plan and their own domain.
As you go on your expenses will increase but it’s okay because you will be making profit at that point.
This episode goes in depth on this very subject: How much money do you need to invest into your online business. Scroll up and press the PLAY button for all the details.
In this episode I mentioned several resources:
NameCheap – one of the world’s most popular and my favorite domain name registrar.
HostWithLove (full review) – hosting company I have been (happily) using for the past 2 years.
Libsyn – podcast hosting. Use code “ALEX” at check out and get your first month completely free!
Gimp – a completely free image editor, similar to Photoshop.
MailChimp – my favorite email automation company. Use this link to get a $30 credited into your account if you purchase any automation plan (starting at 10$ per month). Or start with a FREE plan without automation.
Wealthy Affiliate – I have been a member of this community for 9 years, this is where I learned everything I know about affiliate marketing and this is where I keep learning what’s working in the industry. Starter membership is completely free.
Please note that some of these links are affiliate link which means that if you decide to make a purchase through any of these links, I might receive an affiliate commission. Of course there is no extra cost to you and in some cases you will be getting a discount not available through the homepage of the service or the product.
You can subscribe to the Extra Paycheck podcast and review it on iTunes.
If you do have any comments or question, please do use the comment form below!