Every business needs money, right? Well, that’s certainly true. But what if you don’t have any at all?
On the surface, this seems like quite a difficult thing to deal with. However, it isn’t as impossible as it may first appear.
Money isn’t everything when it comes to starting up your own business. However, there are still ways that you can get around this problem and start your company without needing any cash right away. If you read a case solution, you will get to know how problems can be tacked in the business landscape. The solutions given here should hopefully provide some insight into what possibilities are out there for getting started.
Here are some ideas on how to get started without an investment:
Work for yourself with odd jobs
If you don’t have any money, then chances are you aren’t going to be able to employ anyone else to help you either!
Therefore, one potential idea is just to work for yourself doing small jobs around the house or elsewhere when convenient. This will give you some extra money to use towards any expenses that you may have, as well as earning a little experience of your own at the same time.
Make your name known
Perhaps one of the more obvious ways of starting up is to try and gain some publicity for yourself first so that people will be aware of what you are doing anyway.
Promote yourself on Facebook or other social media, create an interesting website for your company, or perhaps just put up flyers around town advertising your services.
Learn how to sell effectively
Another approach could be to learn how you can persuade others effectively to entice them into buying whatever you are selling. Whether it’s simple prospects for your services or even getting people to try out your products, this approach will still help you get the customers that you need to start up.
Use family and friends
If you’re poor, then it’s unlikely that you’ll be able to hire others who are more skilled than yourself! However, some of them may likely have skills that could be used towards helping you try and make some money.
Whether they are good at selling, let’s face it most people aren’t, or perhaps they can help with accounts for example if they work in an office, anything extra could make a difference.
If there isn’t enough time during the day
This option may be a bit of a long shot, but if you’re struggling to find enough time during the day to do any of the above methods then simply look at extending your hours.
This may not only lead to extra money coming in just for longer each day, but it can also give you more time at night or even on weekends where you could work on trying to get projects done.
Sell something you make yourself
If you enjoy making things such as jewelry or paintings, offer the service of selling them for others online. Sites like Etsy and Not on the High Street allow you to upload images of your product and display them online.
This is a great way to test out new items and build up feedback before you set up an actual shop in the real world (which will cost an initial investment).
Offer lessons at home
This is particularly popular with parents who wish to give their children extra tuition in a specific subject. For example, you can teach piano or French in your home and advertise the services online.
In this way, you can enjoy free advertising because many websites allow users to add links to their website from an article they have written themselves.
Offer something for free
It is possible to get a business set up without any initial outlay by offering your services for free initially in exchange for publicity. You can continue offering your services for free until you start getting requests from customers. Some examples of how to do this included dog walking, babysitting, plumbing, and electrical work (if properly insured).
Sell old items
We all have things we don’t need that might be worth something to someone else. Selling these items can be a great way to start your business without any initial expenditure.
If you have things like books, paintings, handicrafts, CDs, or DVDs that are no longer of interest to you, you could take them to a charity shop and get paid for them or post them on Craigslist where there is likely to be a market. Other possibilities include selling toys, clothes, jewelry, and electronics online.
Sell food from home
Selling food from home is a great way to leverage your financial situation. It doesn’t cost you the earth to cook something delicious and then start selling this to offices or people living in the neighborhoods.
Thanks to a bunch of apps that help sell food online. Uber eats and DoorDash are a couple of examples. Once you witness that people are taking interest in your food, you can start selling online. This can be a great way to get your food business started.
Apply for a business loan
If you don’t have the capital to kick off your business ideas, applying for a business loan might help. Although this is often tied to terms and conditions, yet it could be a productive turn to facilitate your business endeavor when you have nothing in your pocket.
Furthermore, you can look present your business idea to financiers. If they get impressed with what you are trying to do, then you can get a loan without problems. However, the idea you come up with should be strong and doable. Don’t forget to explain the revenue streams from where your upcoming business will be earning money.
If anyone in your friends and family has extra money, you can ask them for a loan. You can also suggest that they become silent partners in your business. Tell them that you will be sharing a certain ratio of the profit earned through the proposed business endeavor.
Check out Quick Capital Funding that provides loans, equipment financing, banking, and financial services to small businesses.
Save money as much as you can
When you are trying to start your business, everyone tells you to save money. This is good advice because starting a business requires money which is hard to come by if you don’t have it initially.
Saving money for business is important at every stage in the life of a company, from initial startup right through until retirement or sale. Just remember that saving money is only half the battle; you have to spend it wisely as well if you want your company to succeed.
Don’t be wasteful with cash flow because no matter how much profit you earn, if there isn’t any leftover then it doesn’t count. Learn where, when, and how much should be spent on supplies and services while still maintaining the same quality.
Start a blog
No matter if you are writing for yourself or an audience, blogging can be a way to encourage your imagination and creativity. It can also be monetized, which means it can act as another source of income instead of just an outlet.
Many bloggers from different parts of the world are making a handsome amount of money by publishing readable content on their blogs. They can earn through affiliate marketing and displaying ads on their blogs.
Getting traffic to your blog could be a little bit tricky because the rising competition is making things difficult for fresh bloggers. However, you can do different things to promote your blog. Post links to different social media sites from where you can get lots of visitors.
Developing SEO knowledge can help you boost your blog in a few months. You can go from a few hundred to thousands of dollars by implementing workable SEO strategies.
Start selling your skills
People have different skill sets that they can use to make money. What are your best skills? If you have expertise in a particular field, then you can turn it into a money-making opportunity. For instance, those who can design beautiful images can become graphic designers by gaining a little more experience.
Nothing to worry about even if you do not have any special skill that can help you become rich. You can find a lot of great videos on YouTube that you can watch and learn new skills in no time. All you need is sincerity and dedication.
This goes hand in hand with selling skills. Freelancing is a new way to change the world around you. It provides you the freedom to work from anywhere, anytime. On top of that, you can earn a good amount of money.
Different freelancing platforms such as Upwork, Freelancer, and Fiverr connect talented freelancers with clients from different parts of the world. You can help them complete different tasks and get rewarded in return.