We’ve all heard the phrase “It takes money to make money” which is true especially in business, but what happens to the people who don’t have money? How can you start a business with no money? The short answer: a lot of really hard, consistent, and intentional work. Here are three things you can do today to help build your business without any money.
I know it’s boring but here me out. Market research is an important building blocks of growing a successful business. Why? Well, before you can make a sell you need to know what’s already being sold. You should start by answering the following questions:
- Who are the key players?
- What are the current and upcoming market trends?
- What’s the average price point? How much of the market could I potentially own( this is called Market Share)?
- What’s the customer’s greatest concern/problem and how do I fit into the solution.
- Where are my customers and how are they buying? ( Explore their buying habits and where they typically buy)
2) Start A ServiceService has become a founding pillar in my business. You should ask yourself “How can I serve others in a way that elevates my business while honoring my mission and values?” It doesn’t take much money to start a service-based business which means you can start earning more money sooner because you have fewer expenses. Here are some ways you can transition into a service-based business model:
- Offer to edit your friends’ Instagram/blog photos.
- Offer to plan and organize photoshoots for content creators.
- Become a liaison for photographers who are struggling to find new clients.
- Rent out your equipment.
- Teach or sell a course on photography, lighting, or editing.Beauty/Fashion
- Organize closets for busy entrepreneurs or working moms.
- Become a personal shopper.
- Become a digital stylist.
- Offer to become a buyer consultant for new boutiques.
- Become a brand ambassador.
Still, need help coming up with a service that sells? Let us help! Tweet us @strangerclub_Once you start earning money from your service-based business you’ll be able to reinvest your earnings into product/merchandise production, quality control, and advertising.