Can you start a business without money
6 types of businesses you can start with little money
Who doesn't dream of starting their own business? Unfortunately, there are likely dozens of obstacles holding you back. Maybe you don't have enough motivation, too little time or you don't have a brilliant idea - until now.
If it isn't because of that, then at the latest when you realize how much money it costs to build a business - money you don't have.
However, there are several ways to borrow money so that you can get exactly what you need. So is money no a particularly good excuse not to start your own business. In addition, there are some types of businesses that require almost no money to run.
What you need to start a business
Your first step should be figuring out what it takes to start a business - and which of these steps cost something.
- Planning. You have to set up a financial plan, of course. If you can do it yourself, it's even free.
- A corporate license. If you're thinking about a partnership or cooperation, you have a lot of paperwork to do. The whole thing will probably not cost more than a few hundred euros, depending on which licenses you need. If you can't do this on your own, you can turn to agencies to help you figure out what exactly you need and what it will cost.
- A domain name. You should invest in your online brand early on. Even if I recommend you to make this as professional as possible, you can reduce the effort to a minimum. Often times, a catchy domain name is all you need to get started with defining your brand. You can get a domain name for around ten euros (if you can find one that is still available). I use GoDaddy to buy domains.
- A website. Nowadays, programs that you can use to build your own website are free. The whole thing just costs you time. I recommend a simple program to start with, such as WordPress.
- Marketing. While marketing has a reputation for being particularly expensive, there are a ton of really effective tactics that will only take your time. Social media marketing, SEO, and content marketing all belong in this category - and frankly, are all you need. If you need support, you should get the "Guide for Online Business".
- Furnishing. The equipment, an office and other specific economic goods are real money guzzlers. However, not every company needs something like this - some do not need any of it at all.
- Products. Every company wants to sell something. But this also means that investments must be made in advance. However, many services also work with an investment of time instead of money.
So which types of companies can be raised in the upper areas without a major financial burden?
1. Personal creations
There are personal creations, like the arts and crafts. For example, you can sell your work if you are an artist. That only costs you the materials and time used. Platforms like “Etsy”, “eBay” and “Amazon” make it easy to make a profit from your work.
2. Offer services from home
Offering his services does not cost you any upfront money as they are immaterial goods. In addition, if you work in other people's homes or in your neighborhood, you do not need your own office. For example, you could offer to walk dogs, take care of children, or help your neighbors shovel snow.
3. Services for which you have the necessary skills
If you have certain skills, you can use them to secure your income in this way. For example, if you are a handyman, you can perform repairs on homeowners whom they have no idea about themselves.
Here, too, you do not need your own premises and hardly have to invest anything, apart from the tools or equipment that you need for your work.
Many workers only think about starting a business after years of experience. Think about your area and ask yourself how much you can learn in what time. Business founders may be grateful if they can pay you for your experience. Advice is a service that only costs time, but can bring you a lot of money.
The idea behind reselling is simple: you buy products and sell them to other people. You can use drop shipping or wholesale to purchase these goods. If you use drop shipping, the goods are delivered directly from the producer to the customer. You make less profit for it, but you need almost no money to set up this service. If you use wholesale as a method, you need significantly more money and space, but you have more control and can earn more.
6. Mini entrepreneurship
Of course, you can also combine your own small business with other options. For example, you can drive for a service like Uber or rent out your house via AirBnB. This is how you make money from things you already have.
After you've started your business and started earning an income, starting capital will no longer be a problem. You can reinvest the money from your earnings or use it to further expand your company.
I hope that you now realize that you don't need a lot of money to start your own business. You can even start one without even investing any money. You just need to know what type of company works best this way.
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