If you have told someone a decade ago that they can start a business with no money, you will probably be a laughingstock and might even be called crazy. But today, the advent of technology made it possible for new businesses to begin their operations with limited or no cash at all.
Here are some ways you can try to jumpstart your business even without any money at all:
Establish a Business Based on Your Existing Skills
Is there something you can do that others are willing to pay for? Can you speak Spanish, program computer, decorate and paint, or make clothes? Do you have a hobby that you can turn into a profitable business? If you think you have a skill that others don’t have or they need to invest money and time to learn it themselves, it will install give you an edge.
Use the Available Resources around You
You can work from your home or at the local library or café where there is a free WiFi. If you have a car, you can also offer a delivery service around your neighborhood. Do you have a well-equipped kitchen? You can provide events catering or make cakes.
Offer Your Buyers with What They Need Instead of What They Want
It must also be something they will understand right away and they will feel comfortable in purchasing with no need to think or consult someone else first. Umbrellas priced at a few bucks are much better compared to hot tubs that can cost them several thousand dollars.
Harness the Power of Free Technology for Business Promotion
You can create your own website for free with the use of online website builders. After that, engage in social networking which is an easy, free, and amazing way to promote your business with no need to spend even a single penny. Create your own page in Facebook, join LinkedIn, post photos of your products on Instagram, and sign up to Twitter.
Encourage Customers to Pay Upfront
You can also stick with half payment upfront and the rest to be paid later on to ensure that your costs are covered all the time. Late payments are among the biggest culprits behind business failure, which is why it is best to have a plan on how to get cash faster right from the start.
Hold on to Your Job if You Have One
Probably the best answer on how to start your business with no money is to just use your spare time for the business. Once it becomes successful, that is the only time to give up your regular job. This way, if your venture fails, you will not be jobless, and if the business does work out, it will be less risky for you to transition into becoming your own boss.
Gone are the days when a starting a business requires lots of upfront capital. Thanks to the modern day changes, you can be a business owner even if your pockets might be cashless.