Many people assume that you need a lot of money in the bank to start a company. But, as you\u2019ll discover in this post, that\u2019s not always the case. While capital helps for certain types of enterprises, it\u2019s not always necessary. In today\u2019s world, you can start something from scratch with no cash outlay at all and, in some cases, even build an income that far outstrips your regular salary.<\/p>\n\n\n\n
In this post, we’ll take a look at how to start a business without money and then provide some business idea examples that are affordable and easy to pursue.<\/p>\n\n\n\n
Fifty years ago, start-ups had to do virtually everything themselves. Steve Jobs and Steve Wozniak built Apple computers in a shed, and Bill Gates didn\u2019t exactly have a ton of investors lined up to support Windows when he started out. <\/p>\n\n\n\n
Things have changed in recent years, though, and starting a business with no money is considerably easier than it was in the past. These days, it\u2019s more about leveraging the tools that are already out there in new and interesting ways. Good business ideas often still need some money, but there are ways around that, too.<\/p>\n\n\n\n
Here\u2019s how to start a business from scratch with no money saved up: <\/p>\n\n\n\n
The best business ideas are those that sit at the confluence of your skillset and a problem that needs solving. Pursuing a passion of yours at any cost is not necessarily advisable. While you might love the work, it may not align with a problem in the marketplace.<\/p>\n\n\n\n
Instead, look for a small subdivision in the market where consumers\u2019 needs aren\u2019t being solved and then look to fill the gap. For instance, you could:<\/p>\n\n\n\n
Of course, your imagination will be much better than ours. But the principle remains the same: your idea needs to provide a meaningful improvement in your customers\u2019 lives in a way that others on the market aren\u2019t offering at the moment.<\/p>\n\n\n\n
After you find a novel problem that requires your skill set to solve, you need to create a minimum viable product (MVP). Your MVP should offer at least a minimum feature set that people will pay you for – it\u2019s basically a demo meant to attract buyers.<\/p>\n\n\n\n
When starting a business with no money, MVPs are essential. You need to generate revenue as quickly as possible to keep your head above water. You should not wait until you\u2019ve built out your entire feature set before you start selling the product or idea. <\/p>\n\n\n\n
Once you have your MVP in place, the next step is to set up a payment system. If you want to open a retail store with no money, you can work with a merchant account service. These provide you with the POS tools and accounts you need to take credit and debit card payments at your premises. <\/p>\n\n\n\n
If you are setting up an online shop, eCommerce websites<\/a> will provide you with various ways to take payments. Similarly, if you want to sell courses or training, you can use an online platform, such as Mastermind or Kajabi. <\/p>\n\n\n\n If you\u2019re selling something else, look for existing payment platforms in your niche. Usually, you\u2019ll find a company that provides you with all the tools you need to make payments so you can avoid relying on old-fashioned paper invoicing, bank transfers, and cash. <\/p>\n\n\n\n The next step is to go public with your plans. Even if you are an entrepreneur without money<\/a>, there are still plenty of ways to do this. <\/p>\n\n\n\n Start by setting up a website on a free platform, such as Squarespace, Wix, or WordPress. Then acquire a domain name from a reputable provider. <\/p>\n\n\n\n You will need to pay a small fee for this, depending on the name you choose. However, prices are low for more obscure domain suffixes (such as .co or .us), meaning that you can get a URL for just a few dollars a year. <\/p>\n\n\n\n If you want to start an eCommerce business with no money, there are plenty of platforms to choose from, including WooCommerce, BigCommerce, Shopify, and Magento. <\/p>\n\n\n\n Next, maintain a constant social media presence. Make sure that you: <\/p>\n\n\n\n Great business leaders don\u2019t try to go at it alone. They always ask for help and try to find ways to make the universe conspire in their favor by:<\/p>\n\n\n\n The final step is to grow your business so that it becomes profitable. If you don\u2019t push forward hard, you may not build enough momentum to make a good return on your investment. <\/p>\n\n\n\n Here are some inexpensive or free ways to market your business and ensure that it thrives: <\/p>\n\n\n\n You can pay an agency to do this for you, or if you\u2019re really short of money, you can do it yourself for free. Ensure that you include relevant keywords on your website, write content relevant to your audience, and get links from partner sites to your pages. <\/p>\n\n\n\n You can pay for this with ads or do it for free by creating content for your pages and accounts. If you are struggling to gain traction, try working with influencers.<\/p>\n\n\n\n By writing useful articles and creating helpful videos, you can provide prospective customers with the value they can\u2019t get from your competitors.<\/p>\n\n\n\n Lastly, you might want to try cold outreach. While challenging, it is a great way to get your foot in the door and build more sustainable clients long-term. <\/p>\n\n\n\n Wondering how to start a business with no money or credit? There are plenty of examples already out there and they provenly work. Let\u2019s take a look at a few:<\/p>\n\n\n\n A life coach<\/a> is simply someone who offers guidance to other people on how to live better. Many coaches focus on a particular dimension of life, such as relationships, finances, spirituality or career. To stand out in this industry, you\u2019ll need to have the ability to truly change someone\u2019s outlook on a particular area of life. <\/p>\n\n\n\n Becoming a pet sitter can be a fun line of work. You walk or groom dogs and, in return, their owners pay you a fee. Pet sitting is popular in cities where professionals don\u2019t always have the time needed to look after their pets properly.<\/p>\n\n\n\n If you are good at fixing things around the house, then you might consider handyman services. These professionals charge callout and service fees for fixing broken windows, putting up curtain rods, and removing mold from tile grouting. You might need some initial investment to buy the necessary tools if you don\u2019t already have them, though.<\/p>\n\n\n\n On-demand, customizable printed t-shirts are a viable, low-cost business option. Here, you simply set up an online store and then work with a t-shirt printing partner to distribute apparel to your customers. This is not exactly a free option and is something you\u2019ll need to invest at least some funds in, but the overall returns make those modest initial investments worth it. <\/p>\n\n\n\n You might think of writing as a different category from business, but it\u2019s not. After all, a book is just another product that gets bought and sold. <\/p>\n\n\n\n There are many types of books you could create. These include:<\/p>\n\n\n\n Again, this is one of the best businesses to start with little money because you don\u2019t need to set up the printing shop yourself. You just work with an existing publishing house that provides the features you want to offer your customers. With that in mind, you\u2019ll still need to scrounge up some starting capital.<\/p>\n\n\n\n If you are thinking about how to start a business online without money and are serious about not having even a tiny bit of seed capital, there are still options to consider. One is to simply sell your skills \u2013 something that you already know how to do well, but other people will find valuable learning. <\/p>\n\n\n\n Selling a course online is much easier than you might think. Today, there are many platforms that host your course and help it reach your target audience. What\u2019s more, it\u2019s the type of work you can do without having to quit your day job, and, on many platforms, you won\u2019t have any upfront costs, either. <\/p>\n\n\n\n Print-on-demand services are becoming more popular as consumers look to personalize gifts or items in their homes. Therefore, selling these products could be a great way to scale a business fast. Again, you don\u2019t need to pay for the printing facilities or worry about shipping yourself: you can partner with a dropshipping service and a publishing house and get them to do it for you. <\/p>\n\n\n\n Have you ever said to a friend, \u201cI want to start a business but have no ideas on where to start<\/a>\u201d? Child care is a very popular profession in this age of overworked people who cannot dedicate the time they\u2019d like to their children but still want them to be in good hands. Parents want to leave their kids with people who will look after them properly and provide educational support. <\/p>\n\n\n\n If you get a license, you can start using your home, which will allow you to look after multiple children simultaneously to earn more money from this venture. <\/p>\n\n\n\n Parents want their children to perform well at exams. Hence, test prep services are just as popular as private tuition, if not more so these days. All you need is some experience in academia or a background in education. <\/p>\n\n\n\n If you love cars, you might want to offer a car detailing service. Proud owners are often willing to pay a premium for specialists who can make their vehicles look great, and the start-up costs to set up such an operation won\u2019t cripple your budget. <\/p>\n\n\n\nGo Public<\/h3>\n\n\n\n
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Get Some Help<\/h3>\n\n\n\n
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Grow Your Business<\/h3>\n\n\n\n
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Examples of Businesses You Can Start With No Money<\/h2>\n\n\n\n
Life Coaching<\/h3>\n\n\n\n
Pet Sitting<\/h3>\n\n\n\n
Handyman Services<\/h3>\n\n\n\n
Selling Printed T-Shirts<\/h3>\n\n\n\n
Selling Books<\/h3>\n\n\n\n
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Selling an Online Course<\/h3>\n\n\n\n
Selling Print-on-Demand Cards, Posters, and Prints<\/h3>\n\n\n\n
Child Care<\/h3>\n\n\n\n
Test Prep Services<\/h3>\n\n\n\n
Car Detailing<\/h3>\n\n\n\n
Food Trucks<\/h3>\n\n\n\n