How to Start a Business Without Money
- Why Start a Business Without Money
- 1. Choose a Business Niche
- 2. Find your Business Resources
- 3. Start Marketing your Business
- 4. Delivery Services
- 5. Build a Website
- 6. Re-invest
- Some of the Businesses that You Can Start with No Money
- 1. Dog Walking/Pet Sitting
- 2. Delivery Driver
- 3. Services
- Final Word: How to Start a Business Without Money
Many people think that by starting your business, you need to have access to lots of money. However, this is not entirely true. There are ways that you can start a business without money. So in this article, we will discuss how to start a business without money.
Why Start a Business Without Money
There is something to be said about being able to start a business without any money. For one, as soon as you make money, you can start to earn profits, and therefore what you earn is what you can live off.
Of course, it can be very hard to start a business without investing in the long term. But there are ways that you can use the funds that you generate from the first sales that you made.
It can also show you have to budget better. By having your business without money to start with, you can learn how to complete marketing, produce services, and more without any money.
So how can this be done?
1. Choose a Business Niche
The first thing that you need to decide is what you would like to offer in your business. There are numerous businesses that you can start without money. For instance, you can offer some services for your local area. Dog walking or car washing are good options for you to consider. Another option is to take a skill that you’ve learned at university or other work.
Some people can start a business with just the experience from employment like marketing, accounting, personal finance, and more. However, there might be some other costs that can be had with this business.
2. Find your Business Resources
While you might not have any money, there are sometimes resources that you do have that can help you create a business. For example, you can use your existing IT systems, printer, computer, and other IT equipment. Or you can use your vehicle and more.
There might be soft resources as well, such as those skills that are transferable. For example, You might have social media skills, social media contacts, and more. These skills might save you money by not having to spend any money at the beginning to get your business going.
3. Start Marketing your Business
The next thing that you need to do is to get your new business out to the public. There are several things that you can do to make this work. For one, you might be able to market your business on social media channels in local groups. Some local groups will allow you to advertise your business at set times.
Another way that you can market your business is to call people who you know that might be able to sell to. Normally the first couple of sales is with people who you know. It can be a great way to get that first sale.
In fact, it was Amazon who was first interested in who was buying from them, because many of the people who first purchased from them were people who they knew.
4. Delivery Services
Now you need to deliver services to your customers. Services are the easiest to offer because the greatest resource that you have is your time. Remember to always collect testimonials and other aspects to ensure that your brand is continuously growing.
5. Build a Website
Now you should consider building a website. A website can be done on many different platforms, but some of the most cost-effective solutions are WordPress, Squarespace, and Wix. These also require some of the least time to get working. For instance, a WordPress website costs just $10 for the domain and $15 a month from a good host to get the website online. And the website can be up and running in just a few hours.
Now you can re-invest in your business with some of the funds that you’ve collected from sales. You should try to re-invest about 25% of what you earn at this stage, though you can reduce this as you earn more and as your business is more established.
Some of the Businesses that You Can Start with No Money
Here are some of the businesses that are easy to start with no money.
1. Dog Walking/Pet Sitting
The first business is dog walking. All you need is knowledge of the local area and a car to get to clients. Dog walkers can earn about $25 to $40 an hour and can have 20-30 dogs on their books to get enough funds. Some dogs will require daily walks, though some clients will need cover only for a short period.
Another option here is to pet sit. This is when you’re paid to look after a pet while someone is away. This can be a great option because you can also take on other work at the same time, especially if the job is for a longer period. Or you can take on several animals and keep them apart.
2. Delivery Driver
Another option is to be a courier. All you need is your vehicle. And you can collect and drop off parcels. You might want to work with big brands. Or you can build a local network, delivering fast food items or other products.
If you’re a trained or experienced marketer, plumber, accountant, electrician, or something else you could start to offer these services in your local area. These businesses can do well and some of them allow you to work just at your home, which can save you even more money. And you can use equipment like a computer. There are also platforms like UpWork where you can find clients for free, though there is a cost when you earn money.
Final Word: How to Start a Business Without Money
If you want to know how to start a business without money, then you need to read the guide above. It isn’t particularly hard to start a business without money, but you do need to invest at some point. So what business will you create? How will you create the business? Let us know.