Can it really be possible to start a business with as little as $500? While it might at first seem like a very small sum of money to start a business it can be done.
In case you did not see my first post: Steemit Business Challenge I have set myself a Steem Challenge of using my post revenue to start an online business. In the beginning my biggest challenge will be raising the Steemit revenue required to start the online business. This post will outline more of my plan for my Steemit Business Challenge.
My first goal is to raise between $500-1,000 to invest in my start up business. Although the amount I will start with will be roughly $500, I should try to surpass this in order to take into account any price fluctuations of Steem as well as having a small budget for any unforeseen costs I may incur.
So, what is the short term plan for my Steemit Business Challenge?
- While I am posting on Steemit and trying to raise income through my posts I will be conducting research into what products I could sell and finding out more about potential markets.
- I will come up with around 20-30 product ideas before whittling them down to a top 5 list of potential products.
- I will then start to find and contact suppliers for the different products.
Where will my products be sold?
The answer to this is simple! Amazon is the biggest online retailer with millions of customers ready to buy products therefore, Amazon will be where I will sell my products. Amazon also has a fulfilment programme which so I can ship my stock directly to Amazon. I will not have to pack any products.
Support my Steemit Business Challenge
You can help support my Steemit challenge by upvoting my post and following my blog.