The very thought of starting a business can be overwhelming. However, contrary to popular belief, not all businesses require a large amount of capital. Instead of worrying about everything as a whole, you just need to take things one step at a time. Here’s 10 ways to start a business with almost no capital:
1. Stick to what you know
It’s easier to do something that you already know. That way, you will be able to start almost immediately and you won’t need to spend money to learn a new skill. Maybe you’re good at writing, photography, or baking. Just follow your passion and don’t be afraid to try.
2. Offer a service
Instead of selling products, it’s a lot easier for you to offer a service. You could be a consultant, marketing expert, blogger, gym instructor, or an interior designer. Figure out what you’re really interested in or good at and focus on that.
3. Don’t quit your job yet
Starting your own business may seem exciting, but it’s also risky. Keep your day job first and work on your side project during your free time. In case anything happens, at least you’ll still have a fixed monthly salary to keep you going.
4. Start small
You don’t need to start with a bang. Instead of hiring people, try to do everything yourself. Work from home so you don’t have to rent an office space. You don’t even need a full-blown website to get started. You can always try WordPress, Facebook, and Instagram.
5. Be prepared to hustle
There’s no such thing as instant success. If you really want to start your own business, you have to be prepared to work extra hard. You will not get rich overnight and it may take months before you see any revenue. You might even fail along the way, but you can’t let it stop you.
6. Make it Public
Tell your family, friends, and neighbours about your new business. You have to go all out to make it public and can’t afford to be shy about it. Never underestimate the power of word-of-mouth. People you know might be able to introduce you to potential clients.
7. Ask for help
If you’re not good at marketing, writing, or business planning, try ask your family and friends for help. You might get a lot of useful tips and advice. You could even barter your expertise or skills for services you can’t afford. You’ll never know if you don’t ask!
8. Have a trial run
Try offering your service to a small group of people and get their feedback. You could even provide the first round for free or give a good discount. That way, you will be able to find out whether or not you need to make any improvements before you go all out.
9. Try crowdfunding
If you’ve got a great business idea that requires more capital, try crowdfunding sites. It’s free and you will be able to find out if your idea is good or exciting enough. If people like your idea, you might even get free advertising through word-of-mouth.
10. Find a business partner
If you think you don’t have what it takes to start a business on your own, find someone who might be interested. Perhaps you could even find a co-founder with money to get the ball rolling. Just make sure you really know them and most of all, they can be trusted.
Danila was a magazine writer focused on lifestyle topics and a communications specialist in the telecommunications industry where her work was published or broadcast via several offline and online media channels before shifting to freelance writing. Besides writing, she enjoys travel, taking photos, and reading.