How To Start A Business With No Money

Posted by Kera Moné on

Can you start a business if you don’t have any money? Yes, let us tell you how.

 

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.

 

1) Research

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:

    1. Who are the key players?
    2. What are the current and upcoming market trends?
    3. What’s the average price point? How much of the market could I potentially own( this is called Market Share)?
    4. What’s the customer’s greatest concern/problem and how do I fit into the solution.
    5. Where are my customers and how are they buying? ( Explore their buying habits and where they typically buy)
Do yourself a favor and focus on the research first. Get real specific when answering these questions. The more you know about your customer and their lifestyle the easier it’ll be for you to create a product/service you can sell.

2) Start A Service

Service 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:

 

Photography

  • 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

 

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.

 

Get A Job Craig

The word of the day is Job. J-O-B. Job! I know you’re probably thinking “If I wanted a job I wouldn’t be trying to start a business” and I feel you. However, you ain’t got no money sis! That means you should be in HUSTLE MODE 10X. Even when you start earning money from your business you will most likely have slow months when sales will are low. Always have a backup plan and a way to finance your goals. Don’t let hype culture fool you into a hole you can’t get out of because you thought entrepreneurship was an easy way out. Building a business takes a lot of work and sacrifice. You’re going to get hit with a lot of “no’s” so set yourself up for a ‘yes’ and get a job.

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