No Money to Start a Business? Don’t worry. Try These Great 5 Options
Starting a business requires ingenuity and a passion for what you are doing. Once you find yourself doing something you enjoy, you will be more likely to find ways to make it all come together.
You might be limited to a strict budget when you want to start a business, but that doesn’t mean you don’t have any options. It is possible to start a business with very little money, if you have the right combination of skills, work ethic and marketing know-how.
Follow these simple guidelines to start a business when you have little to no money.
Making something require an initial cost in supplies, but you can sell this products for many times over their actual cost.There are several places you can sell your handmade options online:
Abe’s Market deals in natural and organic goods, such as lotions, candles, granola, and more.
Etsy is one of the largest online markets for almost anything homemade, from jewelry to wooden toys for kids.
eBay is one of the biggest online ecommerce marketplaces in the world, and its streamlined store options, easy checkout through Paypal, and customizable listing options make it a great choice for selling items.
Many business owners sell their products on multiple platforms to get the most exposure possible. It is important, however, to make sure your inventory stays updated on all sites you have a storefront on.
Many business owners have become very successful just be reselling products that have already been made. This can be done through a variety of ways or channels:
Drop shipping: Set up an online store and partner with drop-shipping companies that will do all the order fulfillment for you. Online ecommerce platform Shopify has a great drop shipping guide.
Thrift stores and garage sales: If you know where to look, you can find items at thrift stores, antique shops, flea markets and garage sales and resell them online or in your local community for more than you purchased them for. One extremely successful example is Sophia Amoruso, the founder of Nasty Gal which has grown to a net income of $24 million in 2011 with over 200 employees.
3.Sell your services.
One way to start a business is to sell your services, instead of a physical product. You can offer a huge variety of services, depending on your background and skills.
Some will require degrees such as accounting, while others require little more than a working knowledge of how it’s done (such as babysitting or personal assistance).
You will need a branding plan to make sure your name and company gets in front of the people who may need the service. Some places that are free for promoting your services include Fiverr, Craigslist or Elance.It’s also useful to have a website to show examples of your work, list your experience, and blog about your industry to draw visitors. If you want to learn more about branding and online marketing, check out Buffer’s social-media blog or Hubspot’s blog.
4.Barter to get what you need.
To say the truth, it’s very hard to start your business without any type of funds at all. Even creating a freelance-writing business and a free WordPress website will still require a computer to work on as well as Internet. However, there are ways to get supplies you need for starting your business without money.
For instance, if you find yourself in need of a used laptop, try to barter for it. Build a new website for a used electronics supplier, or offer babysitting services to your neighbor for their old Macbook.
5.Use low-cost services.
As mentioned previously, you can use sites such as Fiverr or Elance to advertise your products and services on, but you can also use these platforms to build up your own company. For instance, many designers offer $5 to $25 logo designs. Sort by reviews and look at past examples to find a designer or service provider that matches your style.
This is a great way to get branding materials, printed items (Vistaprint and Zazzle are great places to buy personalized items), or other needed items without much cost. And for additional savings, be sure to look for coupon codes on sites such as RetailMeNot before checking out at any online retailer!