Some businesses and startups have huge budgets and investors, but a lot of other businesses and startups have grown on a shoe string budget and have seen a lot of success. You may be dreaming of being your own boss and starting your own business but the lack of start up funds may halting your entrepreneurial spirit. Well, if you are feeling this way read on for a few ideas about how you may be able to start your dream business sooner than you think:
Sell Your Own Time
Selling your own time is a great way to make money without needing money to buy anything up front. Some freelance work could be a great way to start saving up the cash you need to launch your big idea.
Do Everything Yourself
Ask any entrepreneur and they will probably tell you about the long days and the sleepless nights. By doing everything you possibly can by yourself you will avoid any unnecessary expenditure and start to build up the cash you need to grow your business the way you dream of. Websites, branding, even bookkeeping are all things you are learn to do yourself, just google it!
Sign Up to Social Media
Social media is free and it gives you the opportunity to connect with millions of people online and start building your brand. Sign up on Facebook, Twitter, Instagram and LinkedIn and invest your time in growing your networks. The power of the smart phone!
Get in touch with everyone you know and attending as many (free) networking events as you can. Let everyone know who you are and what you are doing, including your friends. Never underestimate the power of personal relationships and the sales these can bring. Lots of potential customers like to look their suppliers in the face before they commit to spending money with them.
Keep Your Job
We all need money to live and when you start a business it is hard to know when the first sale will come from. So keeping your existing job or moving to a part time role may be a solution to starting your business while maintaining an income or saving up your investment money.
Get Paid Up Front
If you do find a new contract or make a sale ask your customer to pay up front, that way you can fund the purchase of anything you need to deliver it from their money. If your customer is nervous about this you could ask for a deposit up front and then stages payments that way you can get your business running that way you have the funds you need to deliver the work which may match the way you need to pay your suppliers.
Starting a business is really exciting but the prospect of doing so without any money can be daunting. If you truly believe in your idea then find a way to make it work!