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This means a deep understanding of your customers, the problems they face, and an idea of potential solutions theyll be willing to cover. Here is the minimum you need to get started.After that, youll need to be knowledgeable about the other major players in the space who may be great partners or acquisition opportunities, as well as an intimate knowledge of how to increase funding, promote your goods, hire and manage the very best talent, and keep yourself financially over water. *Whew* Now, this may sound like a lot, but the payoff is worth it.So where would you begin when building a startupThe most important thing that you need before you do anything else is a problem.

This means building a minimum viable product, getting goal feedback from actual clients, incorporating upgrades, testing the market for demand, and getting pricing feedback to ensure theres enough of a margin between your costs and what consumers are willing to pay. Last, you need money to make money. Startups can cost quite a bit to get off the ground.

While not everyone is going to have the funds to pay for everything they need to start a startup, bootstrapping means that you retain 100% control within your company. If you can bootstrap your company to an exit or IPO, then youll most likely never need to work another day in your life.Pitch to VCs/Angels/other investors: If you need some serious money to grow your startup, then youll want to assemble a pitch deck and reach out to investors who may want to give you the money you need in return for a stake in your company.Join a startup accelerator: Another fantastic option is to use to a startup accelerator such as Y Combinator, 500 startups, or TechStars, where a bunch of investors will benefit coach you, connect you with potential partners, and provide startup money in return for a small bet in your company.

Luckily, there's now more support, education, and access to funding for budding startups than ever before. And also a great place to begin is on this list of 101 best free and cheap online business courses for entrepreneurs I put together.3. Construct and Sell SoftwareRight now theres an insatiable need for helpful software.Whether its an important consumer application, a specialist app to solve a specific niche problem, or even a time-wasting game you can play on your phone, you can produce a hugely successful business if you construct software which helps people.

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Most of the software and programs you use on a regular basis are made by massive companies or recognized development studios. Well, yes. But many successful programs, particularly those in the Apple and Google stores, are made and promoted by individuals and small businesses. In fact, independent programmers made $20 billion in the App Store in 2016 alone.There are two basic ways which you can earn money online by building software products.The first follows the startup path we outlined above: You have a disruptive idea for an program or piece of software, you validate the idea with actual customers, and then raise money to employ developers or even a development studio to build, launch, and scale your software.

Naturally, itll take longer time to get your product off the ground, however being able to bootstrap the development of your software enables you to retain more ownership in your business and be in control of your own path.If youre willing to take some time to learn the development abilities necessary to build high-quality software products (or even MVPs that will assist you get funding), theres a growing roster of reliable online learning platforms like Treehouse, CodeAcademy, and Skillcrush to secure you the skills you need.4.

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Websites like Shopify have made it easier than ever to create a customizable, powerful eCommerce website in a weekend and start selling goods now.This is probably one of the earliest and most time-tested ways of making money online. Plenty like it of digital entrepreneurs have established sustainable businesses by :Creating physical goods they know men and women in their niche will lovePurchasing low cost products manufactured in foreign countries, repackaging or combining them together with other goods, and selling them for higher prices on nationally online marketplacesWhile youll certainly have greater levels of success if you can nail creating and marketing your own unique product, from my own experience (and that of many other entrepreneurs), I know the very high costs and risk associated with starting a product-based business.Instead, if you can find a solid product thats already being manufactured at a reasonable price in a marketplace like AliExpress, LightInTheBox, or DinoDirect and promote it to your audience, youll have the beginning of a money-making eCommerce machine.