How to Start a Business With No Money

How to Start a Business With No Money

It’s 2019 and everyone is over it and ready to quit their job for the dream life of being a digital nomad and entrepreneur.

The problem is that no one knows how to actually start a business.

Today I am going to tell you how to start a business with no money.

*Disclaimer: Please make sure you get a business license, ein number, and make your business legit! This is just how you can get STARTED for free.

1. Think about your strengths and provide a SERVICE.

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What are you good at? Organizing? Planning? Cooking? Braiding hair? Coding? Photography?

Write a list of the things you are good at or interested in and see if you can provide a service based on this.

Providing a service is the easiest way to make cash without having to shell out any money up front. Services don’t require inventory but they do provide a bit of skill. This is why when you are first starting your business you want to figure out what your strengths are and what you are good at so you can start making money relatively quickly.

Almost everything you do can be turned into a service. Leverage your skills (or years of education) and turn them into a service you can provide for people.

2. Do inventory on the supplies you already have.

Photo Courtesy of Unsplash

Most businesses today can be started with a phone/laptop and internet. That means you can literally stop reading this post, open a new tab and start working.

Once you know what you’re good at then you can brainstorm:

What things do I need to do this job?

If you are a good photographer and decide to start a photography business you will need a camera and editing software. If these are things you have then great… you can start a photography business!

Figure out what supplies you have and for things you don’t have see if there are any free resources for you to get them. There are tons of free resources online and the very thing you may need could be available online for free!

3. Fundraise and Side Hustle

Photo Courtesy of Google

If all else fails and you are still missing something essential then bootstrap and side hustle to get a few extra dollars to get started.

Try Instacart, Uber, and Lyft for quick cash to fund your biz!

If all else fails ask a few trusted friends and family members to INVEST in your business. Offer them their investment back plus an additional percentage for helping you.

You can also crowdfund by using websites like GoFundMe.

4. Set up your social media accounts (or use existing ones)

Social media is FREE advertising and a way to connect with your audience for free.

Use your existing social media or create new profiles to start networking with people that could become potential customers.

Social media is a great way to get the message out about your business and bring you some exposure.

While social media shouldn’t be your only strategy to getting new customers, it’s a great way to expand your reach and exposure to people.

5. Network

Photo Courtesy of @jojostylez_

Take full advantage of social media and in person events. PROMOTE, PROMOTE, PROMOTE!

Tell every and anyone about your new business venture. Get the word out and network with people. The goal is to get people talking about you.

Send an email to your old college professor or a former boss if your product or service would be a good fit for them.

Take the time to really think outside the box on how you can meet new people. A lot of this is easier with the use of social media but don’t underestimate the power of meeting and networking with people in person.

Your network = Your net worth

6. Create a portfolio and/or get testimonials and reviews

Review from my Photography site: momentswithmk.com

No one wants to hire someone with reviews and experience! Do a couple of free services so you have examples of your work! Don’t forget to ask for reviews in exchange for your free product or service!

7. Find Clients

You have a business idea, your social media is all set up, you’ve done a couple of free projects, you have reviews, and now it’s time to find clients.

Where is your ideal client hanging out? Are they on social media or at the local school? Wherever they are, you need to be there. Network with them and make it known that you have a service or product that can help them.

Now, get them to sign the contract and secure the bag sis!

If you scrolled to the bottom… here are the highlights!

  • No money? No problem! Turn your skills and passions into a service
  • Use your resources! A laptop and wifi is all you really need (unless you’re doing photography or something)
  • Ask for help! See if your mom can spot you a $20 (make sure you pay her back)
  • Use social media to connect with others
  • Network online and offline
  • Promote! Promote! Promote! You should talk to EVERYONE about your business to get the word out.
  • Create a portfolio and get reviews! People don’t want to buy from someone who doesn’t have reviews! (It’s OK to do free work to get the reviews)
  • Get clients! Get MONEY!

That’s how you start a business with no money!

xoxoxo Kay

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