How To Start A Business With No Money

How To Start A Business With No Money

While a line of credit, a team of generous investors, or a family with old money can make life much easier, you can still start a business with no money of your own. You don’t need the financial support of your family. If you are confident your product or service is marketable, keep reading to find out how to start a business without any investment.

Most people talk themselves out of an opportunity to become their own boss. Since they don’t have the funds to start a company, they delay doing it or don’t do it at all. First of all, you must change your mindset and get creative.

While it’s true a product-based company needs funding, there are ways to improvise and generate the start-up cash you need. This is oftentimes easier than you think. Start with what you’re passionate about and with what you know. Put your skills and knowledge to work for you instead of branching out into the unknown.

If you want to start a business, you can provide needed services to the community. This will allow you to earn instant cash flow. So, with this in mind, consider selling services to bring in money for your product-based business. Here’s how to start a business with no money.

How to Generate Revenue Without Money

There are many ways to access funds. Look at your team and brainstorm what skills they all have even if you are the only one on your team. What could you offer that someone has a need for?

1. Affiliate marketing

Do you have a social media account? Use it to market your affiliate products or services. You can earn a percentage of the sales without having to maintain products or mail them out.

2. Cell phone repair

How many times did you drop your phone this year? You’re not the only one. People pay dearly to have a new screen put on their phones.

3. Caring for the elderly

Just as people need childcare, they need someone to help with care for their parent or parents. Most people make a decent salary in this position.

4. Childcare

Not everyone sends their child off to the daycare. They prefer a more hands-on and personal approach to childcare. If you like kids, this could be a profitable, at-home job.

5. College essay editor

If you have a knack for writing, they editing college papers could be a great way to make quick cash.

6. Content writing

It appears everyone has a website these days, but not much time to write their own material. Because of this, they will hire a person to write and even publish blogs.

7. Debris Removal

Know someone who’s cleaning off their property? They will need someone to haul off the junk. Often there’s scrap metal in the trash pile. Take the metal to the recycle yard and get even more money.

8. Handyman

If you’re handy around the house and have your own tools, offer handyman services to seniors and single mothers.

9. Movers

Movers are in demand more often than one may think. Require a deposit up front if needing to secure a U-haul and an extra hand.

10. Pet care

Dog owners go to great length to care for their furry friends, including having someone sit with them or walk them. If this sounds like something you enjoy, we suggest posting it where animal lovers go.

Sometimes, you just got to go for it. You have to trade in your pressed shirt for a not so white tee shirt and get dirty with it. You will see the results of your labor in the end with a newfound appreciation. If all else fails, you can borrow money.

Apply for a Line of Credit

Most people apply for a loan when starting a new business, however, that only incurs an expense you may struggle to pay back in the beginning. If you choose to go this route, don’t make the mistake of maxing out the credit limit.

Require a Deposit

You drive through the fast-food chain, but you pay before you receive your food, right? Your business should operate on the same principle, pay first. Either ask the customer to pay a deposit or pay in full before services are rendered. Depending on your line of work, getting paid in full upfront may not be feasible but at least get a deposit and a signed contract if applicable.