How I Started Business Without Money

You heard that right? How I started Business without Money? Yes, I did it. Many people ask the same question over and over but never take action to start business with no capital.

I have been in hell and back literally but hell of business is not all that hot. All you have to do is to learn from others to emulate what they did to achieve financial freedom.

Its doable.

There are business skills you need to acquire first. Having Startup capital is important to start a business but not necessary.

Starbucks

Two teachers and a writer got together to start up a Seattle coffee bean seller with their own money in 1971.

One of their personal connections was Alfred Peet, the founder of Peet’s Coffee & Tea, whom they bought all their coffee from in their first year.

It wasn’t until Howard Schultz joined the company in 1982 when Starbucks coffee shops came to be, though the founders initially hesitated to change the business plan so drastically.

Hewlett-Packard

HP was the original tech startup formed in a garage.

Bill Hewlett and David Packard started the company with $538 in 1939 as an electronics maker, getting a boost from its first successful product, an audio oscillator.

The company expanded into all sorts of test electronics, and eventually entered the computer business in 1966 with the HP 2100 minicomputer.

Now 72 years old, HP has grown into one of the world’s largest information technology companies. It now has more than 300,000 employees and posted revenues of $126 billion in 2010.

How I Started Business Without Money

My story is not unique! Its one of inspiring cases amongst many. People spend time doing research on how to start online business, but do nothing to launch one.

To make money online you have to start. Just start and everything else will fall to its place as you go!

When I started blogging, I knew nothing about making money online. In fact, I was researching online how to start business without money. Then I came across some blogs on how to start blogging.

The more I did research, the more my mind expanded. I realized starting business from scratch is possible. This is how I started business Without Money and am earning from my handwork.

Skills You Need To Start Business Without Money

You don’t necessarily need to be a financial expert to start business even without money. All you need is a skill and the will to keep going when things get tough.

Money is a result of solving somebody’s problem. To solve that problem you need a combination of money making skills like:

Marketing skills
Writing skills
Copywriting skills
Social media skills
Blogging / YouTube skills etc.

Not necessary to get all these skills at once. Personally I started with blogging even though marketing has been my main skills since I had been in other businesses before.

When people approach me to consult how to start a business without money, I tell them to acquire a skill that solves peoples problems. Then they ask me, what skills?

How To Start A Business When You Have Literally No Money

Ask Your Friends and Family For Extra Funds

Remember, you’re not asking for charity.

You’re not asking your friends and family to support your wacky business idea. No, you’ve got a dream of a business and your business plan is solid.

You’ve crossed your t’s and dotted the i’s. That’s why you’re looking to those closest to you when making your pitch. Use your friends and family as multi-layered resources.

Practice your sales pitch with them. Ask for feedback. And, when you’re ready to launch your business, ask if they can help with a small loan to kickstart the business.

Just be sure to get everything down in writing and when you’ll pay them back.

You can even use a crowdfunding platform to encourage the people around you to encourage their networks to pitch in.

Ask Yourself What You Can Do and Get For Free

It’s easy to come up with a list of obstacles standing in the way of you and launching your business. It’s often harder to come up with a list of opportunities that are right in front of you.

If the thought of starting a business with no money scares you, stop and reflect on what you can do without right now.

What’s essential to your business? Do you need the slick, custom-designed website when you’ve only perfected three items for your new store?

Could you do with creating a Facebook page to promote your business locally, instead?

Or, would it make more sense for you to post your products for sale on a site like Etsy? Would it make more sense for you to design your own marketing materials on Canva?

Could you barter and trade your skills/products/resources with someone else in lieu of payment?

To say there are a lot of free resources on the web is an understatement. Make a list of what you need for your business and then research free alternatives on the web.

It might take time, and perhaps even require you to pick up some extra digital skills, but you’ll save funds when you need them most. Learn more on How I started Business Without Money and make sure you acquire the necessary skills.

Apply For a Small Business Loan When You Need Extra Cash

If you’re looking for more capital and have been operating on a shoestring budget, consider applying for a small business loan.

Banks and online lenders offer differing kinds of small business loans to customers looking for extra cash flow or investment funds.

You can usually get more favorable terms with a traditional bank. Online lenders, however, are typically more lenient in their requirements. Just watch out for those high interest rates.

If you’re not looking for a lump sum loan amount, consider a business line of credit. In short, they’re like credit cards for your business.

They’re good options for purchasing items on an as-needed basis. (You can read about them and other small business loan options, here.)

Find Out About and Woo Potential Angel Investors

You’ve probably heard of angel investors, and with good reason.

They come into play when it’s time to scale your business beyond you, yourself, and the handful of loved ones who’ve bought in.

Angel investors are usually among the first people outside the company to invest in a business.

Unlike outside firms or other venture capitalists, angel investors put down their own personal funds.

They can also make for the best kind of mentors, since many are former/current entrepreneurs themselves. (Find out more about how your can win over Angel investors, here.)

Now you have it how I started Business Without Money. Take action now to start.