Start your own business for free with our 5 easy hacks!
Having very little cash to invest in a business idea shouldn’t stop you from going ahead and setting up your own business. Being able to put some finance into the business can definitely make you feel more accountable and push you to work that little bit harder, but if it isn’t an option, it shouldn’t be a limitation. You’d be surprised to find out how easy it is to start your own business for free.
We’ve put together 5 ways that you can start a business without upfront investment!
1. *lightbulb* Make Your First Business a Fund-Raising Business
What does that even mean?
Well, say your idea is for a product-based business which needs cash to be able to start. You can begin by offering services which will generate cash flow and help you to fund your idea. When you provide a service to someone, it won’t cost you anything to provide the service and you’ll get paid at the end. Put this money towards the idea you have!
You may even find that you like the service business that you started and decide to carry it forward. Nonetheless, it’s going to give you some great experience in sales, financial management and general business admin.
2. Sell Things You Don’t Need
This is one of the simplest ways to raise quick cash that could be used to put towards funding your business idea. You’d be surprised how much money is sitting in your wardrobe – are you really going to wear that dress again?! Spend an entire weekend hunting high and low for things you can get rid of and embrace the minimalism. You’ll feel refreshed, motivated and richer!
3. Understand the Value of Your Skills
If you’re still looking for a business idea, why not take time to understand the value of the skills you already have.
Could you use your social media skills to start a social media management company?
Could you write an e-book?
Can you use your creative skills to design logos and help companies with their branding?
Think about what makes you unique and valuable, after all, this isn’t going to cost you a penny.
4. Re-Sell Something
There is a way to start a business for free and still have products… Drop shipping is a great way of managing cash flow as a start-up business.
If you had an idea to create a clothing line but can’t get together the funds to create your first run, why not work with a company who are happy to print it for you and dropship when you’ve made a sale? The downside to this is that your margins may be extremely tight to begin with, but you’ll start to gain a real understanding of your market and audience whilst building up a customer base. When you’re finally at the point to go at it alone, this will be invaluable.
5. Work Your Ass Off
Working both hard and smart will be the key to your success, especially if you’re starting your business for free. Putting in money can often make you work that bit harder so keep this in mind!
If you’re prepared to put the hours in and really work as hard as you can, you’ll find that you can do this and the lack of finance isn’t going to stop you.
Be prepared to teach yourself how to build your own website, how to create a logo and how to handle all of your own marketing. You can also try swapping skills and services with other Boss Babes to pool resources and work to your own strengths.