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Often times, I come across questions like, 'What to do when you have no money? I have no money to pay my bills. I have no money and no job. I have no money for food. How to make money not working? I have no money, what do I do? I have no money and want to start a business. I have no money for college. What to do when you have no money? I have no money and no job.' Even funny questions like, 'Making money with no money. I have no money. No money synonyms. Living with no money' are not left out.
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Broke? No Capital? Want To Start a Business?
Are you really broke with no money at all? The truth is if that business idea is not catchy enough to attract funding or sponsorship, you will still need little money along the line, (no matter how small) when establishing your own business.
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Chris Guillebeau, the author of The $100 Startup, once said, 'To succeed in a business project, especially one you’re excited about, it helps to think carefully about all the skills you have that could be helpful to others and particularly about the combination of those skills.”
If you have little or no money to start a business, take the following steps to make money and change that story of 'no money.'
1. ==> Create
Creating a product or service may come with an initial cost in production but most times, you will get them sold for double or even three times the production price. What you produce is based on choice and how fast it is to sell more of that item. Many people create handmade products, household items( like soap, candles), artworks etc and get them sold at good prices. Alibaba, Abe's Market, Amazon, Etsy, Bonanza and Ebay are popular online markets where you can get more exposure for your items.
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2. ==> Resell
Many people have build empires of wealth just by reselling what has been made already. If you don't have what it takes to go through the process of creation, you can look along this line. Offering drop shipping services as well as reselling thrift stores and garage sales items are some ways of tapping into the business of reselling. I have friends who have made a lot of money by reselling SEO services on Fiverr and SEOClerk. This is an online business they started with no money.
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3. ==> Sell
One of the cheapest ways to start a business with no capital startup is to offer services for sale as opposed to selling physical products. Based on your background and what you do, there many services you can sell to people. Examples of services that could be offered for sale include babysitting, lawn mowing, painting, link building, blog design and customization etc.
Try to create a blog dedicated to discussing what you do. This will attract prospective customers who would end up contacting you to buy the services you offered for sale. Another way to promote your business is to post them on online platforms like Fiverr, Craigslist, Elance, Taskrabbit and Skillshare.
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4. ==> Barter
Because it is extremely difficult to start any business with no fund or supply, you may have to exchange what you have at hand to get what you want. For instance, you could offer free advert in exchange for a blog theme; babysit for a neighbour in exchange for an old computer; write articles in exchange for email leads etc. These are some ways of getting supplies that would be needed to start your business without money.
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5. ==> Contract
Fiverr and Elance are market places online where you can get some popular services at cheap rates. Many people have build businesses around services they buy from Fiverr. A noticeable example is logo design. After a careful review of people who offer this service for sale, people buy at $5 and sell at almost $50 through their physical business. Branding, printing and advertisements are some other services you can look into selling through your company.
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All in all, even with no money, you will need a passionate dedication when starting any business that is bound to survive competition and become established. If you find out you enjoy what you do, you will likely find ways to make it grow.