Alot of people argue that they can't start a business typically because they do not have the funds or resources.
I am a great believer that we are Called To Create, and creativity is inherent in everyone.
The same creativity can be applied to the problem of not having the funds to start a business.
Below are tips on how you can start a business for free and at zero risk:
1. What can you get for free?
There is a tonne of stuff as well as hugely talented people out there who are ready to collaborate with new ventures.
Examples of things you can get for free include –
- You can build Websites for Free at weebly.com
- Social media such as Twitter, Facebook, Instagram etc are Free. These a massively undervalued and your reach could be very extensive.
- Office space and equipment
- Top notch business advice and courses – See Pop Up Business School
- Small business grants etc
You can also start by typing into Google – “How do I get X for Free ?”
The key point here is that different thinking results in different outcomes.
So get creative and focus on doing things in the exact opposite direction to how society presents it to you.
2. What can you borrow for free?
There are over 100 universities in the UK and alot of them have kit that is only used during term time.
The same can be seen in major cities and universities across the world too.
You can reach out to your university as an alumnus or just as a guest if you have no direct link to a specific uni.
There are many shops out there that are empty and you could negotiate use of shop if you approached the owners with a useful idea or a proposal that benefits you both.
3. Barter instead of using cash
Bartering is an old method of exchange and continues to be very popular today.
Do you have skills that you can swap for something else such as office space or legal advice?
I, for example, swapped my financial coaching skills with a branding consultant when I was building this blog.
Someone once told me that it is better to “dig your well before you’re thirsty”.
What he meant was, it is better to get to know people and build a relationship before you ask for something.
[yellowbar]So the secret sauce to bartering is to make friends with people and focus on what you can give first before you ask.[/yellowbar]
Reciprocity is a powerful force and Giving is the new way of doing business. So Always Be Giving.
4. Sell stuff you already have
Selling stuff you already have is a very useful way of raising funds as each of us can think of many things we have accumulated, which are sitting idle and can be flogged on Ebay or Gumtree.
Another way is to sell other people’s stuff/products and share the profits.
This is a way in which alot of businesses actually make money as it can be profitable to sell something someone else has spent time and resources creating, whilst making money in the process.
The internet has really opened a whole new world of customers, and therefore you can now sell physical and information products online.
Another way to also sell stuff is to become a middleman and literally do the admin of helping people you know sell their items online and get a commission. Start with family and friends.
5. Sell your value before you create it
This is by far one of the most important things you can actually learn. The traditional way of starting any venture is:
Write a business plan → Borrow money → Do a tonne of work → Try Selling
Rather than do this and get yourself into debt, you should think in exactly the opposite way and Start with Sales (i.e. Pre-selling).
Show people what you are working on and how it can improve their lives, and literally ask them if they will be willing to pay x-amount for it.
If you can begin to convince people to pay you before you have created a product or service, then you’re onto a winner!
[redbar]Sell your idea → People pay if they like it → Then build it.[/redbar]
This is exactly the same idea you see in Kickstarter. Use this idea to your advantage and literally get your ideas off the ground.
When you have money in your bank account because people believe in you/your idea, it serves as a great motivation and validation that you are on track!
Now that you know how you can get started, check out 85 Ways To Make Extra Money for some ideas.
What are your thoughts? Has this motivated you to bring your ideas to life?
Do please share this post if you found it useful, and remember, in all things be thankful and Seek Joy.