Article #008

No Money Startup? Not As Difficult As It Seems

Building a no money startup seems hard. Building a no money startup that achieve success seems impossible. But it is not.

No Money Startup

It almost seems impossible.  However, there are many who have done it. You no longer need money to start a startup. This article will explain how to start a no money startup. It is easier than you think, so let’s get into it:

 

How to Start a No Money Startup?

Research

This is the first step, and most likely the most important one. You need to research your market and research the options for someone with a lack of funds. You need to know every single one of your options, and you need to be filled with knowledge. In this industry, a lack of knowledge will truly eat you up. Knowledge really is power, it isn’t just a cheesy phrase!

Stay Employed

Even if you’re in a job that doesn't pay much, stick with it. You may not be earning much, but every little helps. If you can manage to save so money, it will make things so much easier for you in the long run. Having a bit of money is much better than having none. Not to say that you can’t start a business with no money, because you can. But if you can keep your job and at least keep a small stream of income, it will make things so much easier for you.

Crowdfunding

We always say it, but the power of the internet is real. There are many people who are in financially difficult positions, who get financial help from the public. If your case encourages people enough, they will not hesitate to donate money towards your cause. If you get enough people to do this, things will add up very quickly. This is a legitimate way to get startup funds. 

Some notable websites for this are.

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Be socially active

When I say socially active, I mean attend events and talks. Talk with other startup owners and keep updated on the latest startup news. Search far and wide and always stay informed about what’s happening. This will allow you to meet potential investors, know possible cofounders, educate yourself and gain confidence. You need to put yourself out there when you plan to start a business, staying at home won’t do the trick sadly!

 

Get a second opinion

To you, your idea may sound amazing. However, you may be slightly biased. You need to get an opinion from someone who you can guarantee will be honest with you. Somebody who would tell you that you’re going in the right direction. You may not always realize what a bad idea maybe, but if you have someone with you to watch your step, this could be absolutely ideal.

 

Loan 

There are many ways to get startup money if you don’t have it lying in your bank. One way is to get a loan. If you are super confident in your idea, this could work. If you feel that you can earn your loan money back in a certain amount of time, this could be a brilliant idea. You just have to be 100% sure, because if things go wrong, you will be in a very sticky situation!

 

Your Idea

What is your business idea? You need to know exactly what your idea is, and how much you are going to need to start things up. You may now ask “How much money do you need to start a business?” This is all subjective because it will depend on the type of business that you’re starting. A small business will cost less than starting up a larger business, and so forth. Starting a business with little money is possible once you have an idea that you can realistically achieve in the near future. If you have a lack of funds, you shouldn’t aim for anything huge. Take small steps until you have the funds that you need. And, more important, start small. First, build an MVP and validate your idea.

As you might have already realized, having a good idea is necessary to build a no money startup. Furthermore, there are some online options to make money without spending a cent, explained in this video:

 

The cost to set up a company is not usually low. You can get a lot of help towards the funds, but the price itself is not cheap. You need to understand this. If you want the best results, you need to invest in your business, and more importantly, yourself. You will need to spend some form of money, but we are not in a day and age where making money is impossible. You have social media, crowdfunding, and even the old-fashioned method of public fundraising. If you are fortunate enough to have a job, keep pushing forward and save as much as you can. If you combine these methods, you’ll find yourself with the money that you need in no time at all.

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