Starting a business is every entrepreneur’s dream, but you might be experiencing little to no capital to begin with. You could be thinking of giving up since there is no options to take. It is definitely possible to start a business with a very low budget or none at all. Let your creativity guide you. An entrepreneur should be someone who can think beyond isn’t it? So don’t let your amazing business idea fall apart, or put them on hold. Here are some tips to let you build your dream with limited cash in hand.
Build your business based on creativity and skillset
By doing so, you can save unnecessary expenses such as consultants, employees or assistants. Do your research to learn how to do some required business tools such as logo, business card and website design. It might not perfect but it should get you started.
Use low budget services
If you really need help, look for providers in some low cost sites such as FIverr, Freelancers or Elance. There are people who can help in very minimum budget. But please look up further to get the right people.
Tell everyone about your business
This includes your family, friends, colleagues and anyone you meet. Introduce your new company and products or services you offer to them. It might needs some times but it’s worth it.
Use social media to share and spread information
Facebook, Twitter, Instagram, LinkedIn and other social media are very helpful in marketing your business. Spread the information across these channels to let friends and followers in your circles knows about the business you are starting. Email marketing can be a good way to market your business as well.
Take advantage of free advertising
Spare some space in your website and consider exchanging banners with other businesses. Contact blog owner to write about your business in exchange of something. If you have a few more budgets, you can consider advertise with Google too. Use CPM if your purpose is to introduce your business.
Work harder but smarter than anyone else
To cut the operational cost, you might not having any employee to help out. Since you are working alone, you need to extra effort to work around the clock and push yourself to the limit. Don’t worry, it won’t take that long. Your hard work will paid off someday.
it normally require very little to no capital in selling services. Web design, graphic design, copywriting and accounting services are some to get started. These services require skills though. Some require higher degrees while others require common knowledge, such as personal assistance, housekeeping or babysitting.
Don’t stock your products
If you are selling physical products, be a dropship reseller. This is going to save you from stock and warehouse investment. Partnering with companies that can fulfill the order by directly sending the products to customers is the solution. You only need product catalog to resell them offline or online.
Beside money, there are other capitals necessary to start a business., which is honesty, passion and spirit. Don’t let limited budget prevent you from realizing your dreams. It won’t be easy, but that is what entrepreneurship is all about.
Do you have other ideas and suggestions to help others in starting their business with low or limited budget? Please let us know by commenting below.
Wahidin Wong is a digital marketer. He is also a jazz and bossa lover.