How to start a business with no money
The first thing is to find what you are good at. Or even better what is your talent, or what do you dream of making in life? If you have no idea, you can talk with a business coach to find a business idea that could work for you.
The second thing is to make sure you can support it. It is not only the money that supports a business. It’s your personal time, commitment, and surrounding environment. For example, if you are a single mum and want to find something you can work from home, you must consider having specific times of working and personal space for it. You do not want to end up talking on the phone to a customer while the kids are noisy in the background. Or moving your tablet around the house to work, while your dogs chase you. It ends with sacrificing one thing over the other. It is crucial to distinguish your working time and space from your personal time and space. Remember, we are talking about business here!
Framing your working hours is very essential. The first thing I say to my customers when they tell me they want a flexible job to work from home is
“Be prepared to work more than expected and not get paid for everything that you do”.
That’s the reality. Being a small business owner means you must multitask:
- Produce (service or product )
- Promote your work
- Engage with customers
- Make sales
- Be active on social media for your work
- Do simple accounting keeping control of expenses-income
Having consider all the above, are you still willing to try? If not, then it is the right time to make a time plan for when you will be ready to start your own business. Book an appointment with a business advisor to help you prepare for your future start.
If you have everything sorted but is the funding you are missing, then I have some good news for you. There are ways to make your hobby a business, with little or even no money.
Pure service business requires an investment of your personal time, but for the start at least, no money at all. An example of some Pure Services list :
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Affiliate marketing |
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Coaching |
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Teaching |
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Accounting |
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Virtual assistant |
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Graphic design |
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Dog training / Walking |
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Babysitting / Caring |
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Dropshipping |
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Graphic design |
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Print on demand |
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PROS |
CONS |
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No money required to start |
Limitation on profit (a single person can offer services at specific times and days) |
You can start a business with an idea like the above list, with literally no money at all. A Facebook page is free, and a Google calendar for booking appointments is free as well. But let’s be honest. This is business. You want to be found by customers, create a trusty brand name, and make money from it! It’s easy to start a business without money, but to maintain a profitable business there are inevitable costs occurring.
Do not start before creating your marketing strategy. Get help from a business advisor for your first steps to avoid losing precious time and money. Learn about Branding and why it is essential for all businesses, especially the small ones!
Last, a list with product-based ideas to start a business is the following but bear in mind that this category needs an investment. Products need materials, labour (production), space and packaging. Read here about how to start a product-based business. With a good business strategy, the sky is the limit.
- Soap/cosmetics making
- Candle making
- Sewing
- Upholstery (furniture or clothes)
- Jewellery
- Subscription boxes
- coffee shop
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PROS |
CONS |
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Invest of money required to start
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No limitations on profit (production can be outsourced and extend to worldwide market) |
This category is the most difficult but the more potent one. Creating a business with its own premises, staff, products and an established brand name is something that you can create and enjoy the profits for years. Do not start anything without a good business and marketing strategy. You do not want to learn through your mistakes. Save time and money and be prepared!
Now let’s talk business.
Book a call and let’s create your own brand name in the market. Ready to be the next successful entrepreneur featured in big magazines and enjoy the good life?
