How To Start A Business With No Money
How To Start a Business With No Money
It doesn't always take a lot of money to make money. When I first started out, I didn't have ANY money to put towards my dream. I had other things though. A lot of us have dreams and ideas but have no idea how we are going get the funding to make our dreams a reality. Well, with a little creativity and hustle, you can make money without having any money at all.
On Demand Production
If you are in the business of selling services, you can always accept payments or deposits for your services before you perform your duties. Prepayment allows you to be able to buy supplies and anything you might need to perform the job. If you are in the business of selling products, especially online, and you don't need to keep inventory, you can produce items as they are purchased. Make sure you indicate how long it takes your items to be processed to ship on your website to avoid encountering customer service issues.
Save on office space and work out of your house. Not only is is cost efficient but you could get some tax breaks also! I know tons of women who make thousands of dollars working from their bedrooms or kitchen tables. If you have to meet clients, meet them at a local coffee shop or restaurant. If you know a few other entrepreneurs in search of office space, come together and share an office space. In the beginning stages of business, an office space is hardly necessary, but if so make sure you are finding workspace that is cost effective and helping you to drive revenue.
Need some help getting certain tasks done? Hire interns. They are usually the best employees and will work for college credit. Interns bring a lot of fresh knowledge and ideas to the table. For businesses old and new alike, interns are always a great way to go when in need of assistance with your workload. I’m totally against USING interns to do grunt work without offering them the opportunity to learn. Interns are not slave labor. So be a great boss and be sure that you are pouring a wealth of knowledge into them as well.
Barter! Barter! Barter!
Take a seat and think about what you really have to offer. Do you need a graphic artist? A photo shoot? A banner printed? A venue? Exchange services that you offer that other businesses are in need of, for what they have to offer. Exposure is not the best barter offering! Bartering is a great way to also build working relationships with people.
You first initial clients will be your friends and family, social media followers and people you work with. Make sure to tell them about what you are doing. Encourage them to buy what you're selling. Ask them to share links and posts to their social medias and help to sell to people they may know. Also, create a customer profile and determine where you clients are. Find them and then tell them why they need to buy what you are selling.
Don't Quit Your Day Job
Please, do not quit your day job. You need that! You current job will help cover life expenses and any small business expenses that may arise. When starting a business the goal is to increase your income. Don't go eliminating a key source of income when your business is not driving enough revenue to support business operations and your personal expenses and then some! Think of your full time job as an investor!
Network with Real People
Tell everybody about your business. No, don't be pushy like one of those pyramid scheme sales people who force people into to listening to their ideas. Go to networking events, engage with your social media followers, increase your network by asking people you know to recommend your business to people who need what you have to offer. The most important part of your business is your network.
All you need is a little creativity, know-how and will to start to make your dreams come true. If everyone was an expert at everything, everyone would be successful and rich.
All the best,