6 Tips for Starting Your Business with No Money

Having no money should not prevent you from starting your business. In today’s post, we will discuss the many ways on how you can still start and grow your business with little to no funds. If you have an amazing idea, you should definitely execute on it and get that business going! So here’s a few tips on how you can get started.

Utilize Your Day Job

So often aspiring business owners take the jump too early and quit their job before the money is consistently coming in. I personally think this is a huge mistake to make! Not to say that this concept doesn’t work for everyone however, if you have lack of funds to begin with then you need all the money you can get. Your 9 – 5 job is the first investor in your business whether you like it or not. Set aside a certain amount of money from each paycheck and use that to fund your start up.

Research

We’re in a wonderful time with the Internet today and you can get access to so many free – low cost resources. Do as much research as you possibly can on your industry and target market. This will help you to get a better understanding on the necessities needed. All the additional things can come at a later time once you have more capital readily available.

Test Your Market (for free)

Instead of hiring people to test your product out in the marketplace, why don’t you handle this task yourself? Put your idea and/or sample product in front of your targeted audience and get their feedback. Have them test it out for free in exchange for their honest review. This is the easiest way to see where tweaks and changes need to occur. The best part? You got your initial idea and/or sample product tested for free!

RELATED: The 7 Biggest Mistakes Solopreneurs Make in Business

Get a Mentor

Getting a mentor whose been where you have and knows the ins and outs of the industry is an amazing resource to have! Once again the Internet has made finding a mentor relatively easy. I personally found mine while navigating through sba.gov however, you can also search directly for a mentor within your industry. People are happy to help and give back to the next generation of business owners! You just have to put in the time of finding them.

Crowdfund

Crowdfunding has a become a big thing online these past few years. There’s so many websites online that have popped up to make it easy for you to crowdfund your idea and/or product. Crowdfunding has its benefits and drawbacks (everything does) so I urge you to research prior to going this route!

Utilize What You Have

Utilize all your current resources necessary… social media, family, friends, associates etc. Get the word out there on what you’re doing! You’ll be surprised by how many people will be more than happy to help and support your endeavor. Utilizing online and word of mouth is so crucial because you can reach masses in seconds. So instead of worrying about what you don’t have, utilize what you do!

This will definitely give you a jump start on funding your business idea and initial launch. The key is to keep going despite the roadblocks and challenges you run into. Additionally, knowing how to be flexible and reasonable with all the lessons you’ll learn along the way.

Until next time ASSASSINS. . . Stay Disciplined!

Let’s be friends!

Follow me on Instagram @MissAshleyAllison Twitter @MsAshleyAllison and Snapchat @MsAshleyAllison.