You have no Money to start a business
Even though it might sound weird, but it is possible to start your own dream business with little money in your pocket.
How to start a business with little money?
For that, you just need the right combination of work ethics, skills and marketing ideas. If that’s the case, you can think clearly about all the skills you generally have now and how that can prove to be helpful to others. You will further know what you can perform by combining your skills to get a desired result in the end. Following some simple guidelines is what you need to start business, when you have little money or practically nothing.
You may also like to refer to: Tips to do well in New Business Venture
1. Make something
Well, it sounds general, but it is so important to know. It is true that starting something will take some initial costs in supplies, but most of the time, these items can easily be sold for many times over actual cost. Whatever you are trying to decide is up to you, but there are so many other places, where you can sell some of your handmade options online.
- You have some centers working on organic and natural goods like candles, lotions, granola and more such items. So, if you are planning to sell such organic items, the online source has something for you.
- You can further try out Etsy, which is one of the largest globalized online markets for almost anything made at home. Right from jewelry to wooden toys for the little ones out there, you can sell anything in this platform.
- Another place for selling your handmade items is Bonanza, which is more or less similar to Etsy. Some studies have indicated that this source boats more than 10 million visitors every month! So, you have higher chances of selling your items here.
- You might have heard about eBay, one of the biggest e-commerce markets in world. It has a streamlined store options, with customized listing options and easy checkout through PayPal. Therefore, it is a perfect platform for selling your noted items.
There are so many business owners, selling items on multiple platforms for procuring maximum exposure. But, it is always important to ensure that inventory remains updated on every site you have storefront. In case you are planning to learn more about the resources for selling your homemade items, you can always check some online posts for gaining ideas.
2. Re-sell something
There are so many times when you might get into debt while associating with business deals. You can check out debt consolidation reviews for some ideas or just try to resell some of your items. On the other hand, if you don’t have that creative mindset to make anything, even then you can grow your business by just reselling items from other branded manufacturers. This can work its way through various channels or ways.
- Drop shipping as the best option: You have to set an online store and partner with drop-shipping firms, focusing on all order fulfillment for you. Some of the online e-commerce platforms will have great drop shipping guide.
- Garage sales and thrift stores: if you are well-aware of the place to find best items, then you can get some from flea markets, antique shops, thrift stores and even from garage sales. Once you purchase items from these centers, you can resell them online or in local community for more than what you have purchased it for.
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3. Sell your promising services
One best way to start business with no startup or very little capital is by selling services rather than going for physical product. There are huge varieties of services you can easily offer, which solely depends on interests and backgrounds. Some options might require advanced degrees like accounting, and then you have others with little more than just a basic working knowledge on how it might work, like law mowing, babysitting or personal assistance.
- As you are selling services, you need a branding plan. It ensures that you and your company’s name get in front of people, whom might need your service. There are some free spaces available, where you get to promote your services. Some of those are Skillshare, Fiverr, Elance, Craigslist and more.
- It can often be a promising task to have websites, for showcasing some examples of your hard work. You should list experiences and then start blogging about industry to draw visitors. To learn more about online marketing and branding, you can check out social media blogs from Hubspot and Buffer, CopyPress and even from Content Marketing Institute.
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4. You have to barter to get your requirements covered
It is quite unfortunate if you don’t have any fund and still planning to start a business. You need at least some funds. Even when you are planning to create freelance writing business using free Wix or WordPress websites, you still need a PC to work on with some strong internet hold. However, there are some ways you can get your needful supplies when planning to start business without any economic help. Let’s take an example for better understanding. If you are in need of a proper second-hand laptop, you can try bartering for it. You might create new online site for electronics supplier or can be a nanny to little kids for your neighbor to get his old laptop.
5. Start utilizing some low cost services
As already mentioned few points earlier, you can try taking help of sites like Elance or Fiverr for advertising your services and products. Moreover, you can use the same platforms for building your own company. There are so many designers offering logo designs within petty rates like $5 to $25, which comes handy with free revisions. You have to sort by reviews and look at their past examples to find designer that matches your style. It is a great way to start working on branding materials.
Article contributed by: Isabella Rossellini
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