My experience on starting a business with $300!
This post is for the people who wants to have an extra income ( sometimes it can be equivalent to your 9-5 office hour paid job) but no need to have big capital. And If you want to know how .. just keep on reading till the end ^_^
First off , to make you understand all the process on how to become an online business owner ..let me introduce myself.
I am currently working in Singapore but originally from Myanmar,South East Asia.
5 yeas ago, I was working for a company in an IT industry as a programmer, just like other IT worker I spend most of my time sitting in front of the computer, looking at the computer screen with a frowned face and thinking when am I ever be free from this boring job looking at the small fonts and doing the coding ( I don't mean to offend to anyone but for me its really a boring job since I have no interest in those kind of job).
I chose computer programming as my specialization as I am not smart enough to go to Medical school and IT is one of the very few popular option in Myanmar for the people who wants to go abroad and work and the salary is not bad.
And I never did understand much about the coding and stuffs and I believe myself that I am not good at those kind of things.
So to make the long story short,I was working as an IT Executive and my days were pretty boring (boring doesn't necessarily mean I am not busy .. I am pretty busy at times, and at one point I needed to work overtime till very very late depending of the project schedule).
And also there are days I have nothing much to work on ... so I am free to think about my future.
Then I got an idea to create an online shop via Facebook which cost you literally nothing for owning a shop on facebook.
And as it is the very popular social media platform, all the stuff you posted for sale would reach to many audience which is very important.
When I first started, there were not many branded items selling shops on facebook among our people.
I am sure you might be wondering how I sell branded items with very small capital, that's impossible... well... it is.
I started selling the very well known luxury cosmetic brand,very good quality and proven skincare brand known for over a few decades, so I have not much to worry about my money being lose.Which is high demand cosmetic and hard to buy in my country.
Every country (except Myanmar ... we very rarely have branded SALE .. and even if we have .. the price are still very expensive) has its SALE period and the prices are pretty crazy deals so I bought 1 or 2 very basic items which cost me around a few hundred singapore dollars (which is very small capital ..its like 300 sgd ).
But before I bought, I researched on the myanmar market which one is the most popular in myanmar and I did a little bit of research ( this is important if you do the business you need to do researches to make sure so that you fortune can't be lost.
So after finding out things I selectively purchase the most popular items (only one or 2 items) and I started posted it on my facebook account and there are a few people who interested to buy. They come and ask me the price, the authenticity and blah blah ..and finally somebody wants to buy it from me.So now, I have the amount ( my small capital + profit).
So I invested that money ( my small capital + profit) again on that same brand and same basic items because I know its very high demand so I keep on doing it and after a several months the capital becomes 10 times bigger than the amount I first started and more and more customers are coming to buy the items I posted.I became known and trusted by customers.
It was only part-time selling rate and I was still working for the company until last year.Every 2/3 days I posted the items on my facebook on my way to work,if there is any enquiry about the products I reply to them on my lunch break and after work.
When I reached year 4 selling part time, I decided to quit the job and doing it for full time as the income can match my full time salary.So I decided to quit and now I am full time selling all different kind of brands all buying from abroad and selling those back to myanmar.
The key to sell back with good profit margin is that you need to know when is the best time to buy stuffs and if you have quite a number of customers, then you can try to stock up things.If you are not very sure whether you should stock up or not then you just posted the deals on my facebook and if anyone come and order me to buy for them, only then, I buy and ship it back to myanmar.
So this is how I become an owner of my online business with very small capital.And If you are the person who is working in other country then you can make use of this way to make an income.You can find out which kind of stuff you people need and how easy to ship, how much does it cost , how long does it take, the chances of your money being lose.. all those kind of information.
Good Luck Everyone!
^_^//