Starting a business without capital: use technology

Starting a business without capital: use technology
Maximize the use of cyberspace. Use Multiply and other social networking site to create web-based businesses. Two inspirational stories about using the web to create billion-dollar business are those of Jeffrey Bezos, the visionary behind, and Pierre Omidyar, the man behind Ebay.

Before who would have thought that you could shop for anything using your computer or you mobile phone? Reinventing how people spent and shopped, Jeffrey bezos founded in 1994 and became an e-commerce mogul. Introducing online retailing, he made books, beauty products, clothing, electronics and practically anything you can think of accessible to anyone who could logon to the web. He broke physical boundaries and reached people simultaneously without having to build stores.

Pierre Omidyar, on the other hand, changed the face of internet commerce in 1995 when he created eBay, the world’s online marketplace. Looking for a way to create an efficient market, he pioneered the auction format for online person-to-person trading, creating a simple, easy-to-understand mechanism that lets buyers and sellers decide the true value of items and connect with others.

Many starting entrepreneurs have taken advantage of the reach the web based business can give. Since most e-commerce transactions are by order, there is no need to stock up on products. E-commerce entrepreneurs can actually get the capitalization from orders that are place and paid for. Teens can also spend on internet marketing, especially if their products or services target other teens. Nowadays, you can find all kinds of products online, like crafts, personalized and corporate gift items, shoes, bags, clothes and gadgets.

Youth entrepreneur role model:
Millionaire with only $8 form mom
“I started my business as a hobby and borrowed $8 from mom to buy a domain name. my website provides free Myspace layouts that I initially designed for other girls.

Eventually I was getting so many hits that I attracted the attention of advertisers. Realizing that this was a win-win situation, I was quite happy for advertisers to start inserting ads to my content. It just snowballed from there.

Today my website attracts 7million people and 60million page views per month. I was also offered to sell my site for over $1.5million. but I turened it down because, you see, it’s my baby.

Ashley Qualls

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