How to Start a Business Without Money: 5 Tips for Cyber Entrepreneurs

how to start a business without money cyber entrepreneurs

Starting a business used to mean huge overhead costs - creating and maintaining inventory, renting or buying a space to keep that inventory in, and advertising through print, television, and radio to get it sold.

In the digital age, new companies are started with little to no funding, no inventory to hold on hand, no facility or pricey advertising needed.

If you are wondering how to start a business without money, keep reading for five quick steps you can take toward your entrepreneurial dreams today!

1. Sell Services, Not Products

Selling services means selling yourself, essentially - you will do something you possess skill in for someone who needs that skill set. Selling a product means selling physical items.

Selling products generally means more money upfront, to buy and create the products you'd like to sell. 

If you're looking to start a business with no money, or build a nest egg with which to start a product-based business, consider starting by selling your services.

2. Do Your Own Work

Hiring employees is tough with no budget. Unless you're making a great profit from day one, you'll have trouble supporting an additional salary besides your own.

While it means a lot of long days and weeks leading up to the point you can afford to hire on more help, putting in as much of the work as you can yourself means less being paid out to someone else.

3. Use an Online Shopping Platform

If you do want to sell products, try one of the dropshipping platforms that require no upfront cost from the vendor.

These services provide a bridge between the consumer and you - you design and create the products you'd like to sell, the drop shipper holds the inventory and fulfills the orders, and you collect your profits at the end.

For more information check out Shopify help.

4. Utilize Affiliate Income

Affiliate income is passive income - you list someone else's ads or services or products on your site and then receive a kickback for sales from those listings. 

Amazon, Google, and other big companies have easy to set up and use affiliate programs. It's as easy as adding a few links. Then sit back and collect your check each month for the percentage of sales made through your site.

5. Set Yourself Apart With Creative Advertising

Radio, television and print ads are hugely expensive and used to consume a large portion of revenue for many companies.

However, social media offers an inexpensive way to reach the masses. Further, you can target your ads to be seen by the exact demographic you choose using age, gender, location, and keyword-based search terms.

How to Start a Business Without Money - It Can Be Done!

From freelance services to dropshipping platforms that do the work for you, it's never been easier to jump out on your own as a frugal entrepreneur. If you've been wondering how to start a business without money, think outside the traditional box and look into the newest options available to budding entrepreneurs on a budget!

Need more bootstrapping business advice to get started? Check out the rest of our site for more helpful articles about launching lean startups with no money!

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