Do you have an awesome idea for a brand-new business? Do you also have zero money saved up to fulfill this awesome business venture? That’s a bummer—but, after the initial bummed feeling wears off, there are several ways you can still start a small, great business with zilch funds to bolster your ideas.
Don’t Quit Your Day Job
Some business owners-to-be make the mistake of quitting their day jobs to completely, totally pursue a business venture. And while some of them succeed, most of them fail—especially the ones that have zero funding to start up their business. With that said, don’t quit your day job. Instead, strive to create a business while you still work to fund your everyday expenses, like bills, food, and the essentials.
Make Small Financial Goals That Reflect Your Current Cash Flow
Your current cash flow is your day job. So, make a budget plan of your current cash flow, then divvy up weekly and monthly expenses. Where is your money going? Cut expenses where you can, then use the leftover money towards a bank account that will go to funding the beginnings of your business venture. This is your first financial goal. You can think of your second, third, and so on, when you’ve made a success of the first.
Explore the Possibilities of Crowdfunds or Business Sponsors
Crowdfunds are interweb goldmines because everyone wants to get in on the newest, coolest business idea. So, sell your idea. Make promises for rewards for contributors. Ask for financial help to start your business and bring on a partner or two if it helps you accomplish your goals.
You could also call around for sponsor consultations, which is where you present your idea and a service or product prototype. Then a business can choose to either kick your idea to the curb or give you an advance in sponsorships to get you started. You could even make a reasonable investment in custom product labels to market your own merchandise as a start-up.
Building a business is hard work, no doubt—even moreso when you have little to no money to pour into your venture. But hopefully, the aforementioned ideas will give you some direction on where you can start setting up a business that fulfills your ideas.