Ways to Start your Business with no Capital

So you have an idea for your own business, but realize you don’t have the cash to get it off the ground.  Here are some tips on ways to get your business off the ground and to get your business name out there.

Step 1: Know the basics

·       What type of business are you starting.

·       What is your business name and contact information (no address needed yet).

·       How often are you going to be available.

·       Set up a website (most website servers like Weebly allow you to set up a basic page for free). 

·       Spend a few dollars on business cards through a company like Vista Print so you can start handing out your contact information.

·       Set up a Facebook page for you company and start asking for friends, family and neighbors to “like” your page so word starts getting around.

·       Also, set up a Twitter account and start Twitting about your products or service

Step 2: Start offering your service from your house or from a rented location (small fee) at your local civic center or park district.  Here are a few examples –

1.      If you want to start a cooking/baking business, start baking from your own kitchen and selling your products to friends and neighbors.  If you don’t know to charge friends and family… offer a few free items that they can share with their own friends and neighbors to start spreading the word.

2.      If you want to start a business selling jewelry or clothes.  After you have followed the advice from number 1, check your local park districts or town news to see what the next craft fair is and try to get a booth, or head to the flee market and grab a spot.  You can also take the products you’ve already made and ask other storeowners if they would be willing to buy and sell your items.  You can also ask if other storeowners are willing to set out your business cards.

Step 3: Ask for help:

·       Do you have any friends are family that would be willing to loan you the money to start your business?

·       Check out group funding websites such as kickstarter and chipin.  This is an easy way to try and raise funds for your business.

What are some ideas that have worked for you and your business?