Unemployment is relentless. Jobs are nowhere to be found. Banks are not lending money. Credits are getting shuttered. There is no equity in our houses…so what is one to do?

Start your own virtual business! Ironically the greatest entrepreneurial opportunities are created during downturns of the economy. According to a report from Challenger, Gray & Christmas, in the second quarter of 2009, 8.7% of job seekers gained employment by starting their own businesses!

Some great examples of companies that started during a recession are:

• Hyatt Corp: Started its operations during the Eisenhower recession (1957-58)
• FedEx: began its operations during the recession of 1973
• CNN: Started during the brutal recession of the ‘80s
• MTV: Born during the economic chaos of 1981
• Burger King: Born during the recession of 1957
• GE: Born during the cruel 6-year recession of 1873

Sure, it sounds easier said than done. You may be thinking you need gazillion of dollars, a business plan, investment funding, credit lines, an office, employees, furniture, and on and on and on…what if I told you that is not true. What if I showed you, you can actually start a virtual business with little to no money?

Here are the seven steps you need to take, to start your own business on a shoe-string:

1. Start a Virtual Business: This means working from your home and all you need is a computer and internet connection. By creating a virtual business you can provide self-service for your clients and a centralized knowledge base for your employees (when you are ready to hire them).
2. Get FREE Open Source Applications: The cost to entry is very low; you don’t have to pay anything for them. A virtual business allows you to digitize your operations, and eliminate inefficiencies and duplicity.
3. Market Online: the marketing channels available today are endless! Social media, blogs, forums, articles, and on and on…and all for FREE!
4. Sell Globally: Overnight, your virtual business will give you access to clients all over the world, and you don’t have to spend an extra penny trying to get them.
5. Install Virtual Communication Channels: Setting up your virtual business with virtual phones, faxes, chats, etc (by the way, most of them for free or at very little cost) , will help you communicate with your clients and vendors from the comfort of your own home.
6. Be Up and Running in Days, or Even Hours: A virtual business allows you to have your business up and running in no time. You no longer have to worry about borrowing funds to cover rent, utility bills, furniture or any of those old world necessities
7. Manage Your New Virtual Business Remotely: You no longer have to worry about daycare, or nannies, or missing that important school field trip. A virtual business will allow you the freedom to run your business and have a life too!

Now, there is nothing holding you back. Figure out a profitable niche market; get your virtual systems in place, and hopefully you will be the next FedEx, GE, or even MTV! To help you out, I wrote a FREE REPORT: “New Business Success Is All About Merging Your Offline & Online Systems…Learn How to Leave Your Competition in the Dust!” … visit the Virtual Business Dashboard and get your FREE report.

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