Is it possible to start a business without capital

Build on your passions and experiences. Instead of trying to start a business in a niche outside of your comfort zone stick to something you know. Build your business on your skills and knowledge.

It is true that you can learn new skills, but it will take time. If you want to start a business quickly , you have to focus on what you can do now not years from now. Learning new skills will require more time and additional expenses. You might have to take courses, get licenses, pay consultants, etc. Starting a business in a field familiar to you will give you additional confidence. Starting a business with no money means that you have to learn to do things that you would normally delegate to an employee or an outside company.

Doing everything yourself you will be able to put every dollar back into your business. It will be tough, but it is the only way to build up a cash reserve when you start a business with no money. Some of the best business you can start with no money is a service business.

You can start a service business with practically no money. Instead of money what you need is the ability to knock on doors and make sales. Even if you ultimately want a product business, owning a service business can help you get there. Use the service business to finance your dream business. Here are some great product businesses that started out selling something else:.

Websites can be setup for with little skill and cost, there are thousands of professional website templates online for free that can help get your business website up within a few hours. Starting a business with no money means that you have to work hard to get the word out. Tell as many people as you can. Call your friends. Explain it to your family members.

Make it public. Telling people will help you in several ways. For starters, it will give you extra energy. More importantly, it might help you land some of your first customers. People in your network could make valuable introductions. Especially, if you are starting a business with no money you will need all the help you can get.

Reach out to small business owners. Many of them started their business with little or no money. Asking for help can help you several ways:. When you start a business with no money, bartering comes in handy. Bartering is also a great networking tool.

Joining or starting a mastermind group can help you save a lot of money in the long run. It gives you an opportunity to learn from other entrepreneurs.

Instead of paying an expert or a consultant for advice you will interact and learn from other entrepreneurs. Although many mastermind groups cost money you can start your own for free. Look for people who are at a similar stage in business. When you are starting outreach out to people who are also interested in starting a business and those who have been in business for less than two years.

With that strategy, you will have enough diversity in the group to make it interesting for everyone. It helps if you are in the same city, but you can build virtual mastermind groups and meet through Skype or Google Hangout. Here are some of the greatest benefits of mastermind groups:.

If you are an inventor, you could license your patent to a company. In licensing deals you normally get a percentage of sales.

The best way to license your invention is to seek out manufacturers. Technically, it is called licensing your patent rights. You want to start out by developing a list of manufacturers. Look for those that are already making products in your target niche. One or two manufacturers is not enough. Identify at least, 25 potential manufacturers. You can find manufacturers by looking at product packaging, online research, networking, and visiting trade shows. Libraries have excellent resources to locate manufacturers.

Reach out to manufacturers with a short message about your invention. LinkedIn can be an excellent resource to find the appropriate contact person. Consult with an experienced licensing attorney before you enter negotiations. Ultimately, the licensing agreement will include details about upfront payments, exclusivity clauses, percentages, and infringement issues.

You could really do yourself a major disservice by entering into an agreement without professional help. Many businesses are started by solopreneurs who quickly become overwhelmed. Most entrepreneurs would want you to buy yourself into a business partnership, but there are still ways for you to do this with little or no money. You could find a business where the owner is about to retire.

The owner of the business might want to sell the business, but the reality is that most businesses never sell. Another option is to find a business where the entrepreneur is either too overwhelmed or simply burned out with the business. Many successful businesses are started by two or more founders. With two founders you will also improve your chance of success. Tell people in your network that you are looking for a co-founder.

Team up with someone you trust. You can search for potential cofounders through:. When you start a business with little or no money, getting paid fast is crucial. Nothing will help your cash flow more than getting paid up front.

Late payment, net 30, 60, or 90, slow payment will hurt your business. Businesses are commonly funded by lines of credit. You might end up using a credit card to help you with your cash flow. The key with credit lines is it is no substitute for revenue.

Use credit lines only as a temporary measure, not as an alternative to making enough money to pay your bills. Crowdfunding requires a lot of effort and dedication, but is a great option, especially for consumer product businesses. The great thing about crowdfunding is that it gives you access to capital without giving up equity. Crowdfunding can help your business in several ways:. The most popular crowdfunding sites are:. There are business financing options for women, veterans, and minorities.

If you are willing to put in the work, there are several ways you can advertise your business for free or no money. The most important part of getting free advertising is that it requires sweat equity. Here are some of the most common free advertising options:.

The above list might seem overwhelming at first, but it is doable. Take it one step at a time. Be systematic.

Track and measure your results. Rinse and repeat the ones that give you the best results. They promise you everything you want to hear. Quick and easy money with little or no work. Nothing will hurt your chances for success more than believing in the — false — idea of overnight success. You are doing yourself a disservice believing it. Most businesses take years of development before they become successful.

You can start a business with no money. Expect to spend years to build your business instead of days. Persistence is key. Your article is very insightful and has answered a lot of the questions that I was hoping to have answered about going into entrepreneurship. I have recently started a blog, and while working full time and going to school full time, will hopefully start to reap the benefits of this.

I wake up excited to be my own boss. Millions of businesses have been started in this world and have been successful; it is up to you to figure out what they did that made them successful. Erik, I really appreciate the kind words. I wish you much success with your blog. Keep me updated on it. Hi, George — Oh wow! A lot of good stuff and useful information here! Thank you, George for this article. I appreciate the value you brought in to this article. Thank you! Hi George!

I am sure that a lot of people can really benefit from this. Love this kind of posting who is really giving valuable insights to its reader. Keep the good job George! And I wish you all the success! Thanks for the detailed post. And I see it is packed with awesome information. I totally agree that it takes years to get success and we must work hard to achieve it. This article just goes to show that success is possible with hard work and determination.

I began with 18 carpet cleaning. Franchises like Chem-Dry made success a real possibility for me. Thanks for the inspiration! Simply the best one I read. You provided about all the business that I can start without money. I am thinking to start few of them together. What do you think? Should I go with one business or I must target multiple businesses to succeed? Thank you for reading, Luiz.

You can learn a lot about starting and growing a business on Success Harbor. You must be logged in to post a comment. Do you want to start a business with no money? How to start a business with no money? After getting evicted from their apartment, the two lived in their first store.

Nike — Founders, Philip Knight and Bill Bowerman started selling training shoes from their car trunk. Dell started selling PC out of his college dorm.

Keep your job. Stick with something you know. Do all the work yourself. Offer a service. Here are some great product businesses that started out selling something else: 3M — Started as a mining company. Microsoft — Started out by doing sporadic software development gigs. Here are more than service businesses you can start today without any money:.

Start a blog — I generate income in several ways with my blog. You could also build your own business as a professional blogger. Click here for my step-by-step guide on how to start a blog. But first let me introduce myself.

My name is Bob Adams and I have started 17 businesses. I also have a Harvard MBA. For example on a summer vacation from college I started a house painting business with no money. I asked my first customer to advance me money for the paint and all my supplies. I have found that having money and experience are not the most important factors for succeeding in business. There are a lot of simple service businesses that you can start with no money. You can grow them at your own pace into a highly profitable business.

For example I started my house painting business without any house painting experience. For my expert advice on these ideas, plus even more ideas, see my comprehensive article, The Best Small Business Ideas.

If you have some talent or skill why not turn it into a business? Show the prototype to your target market and get pre-paid orders.

Send orders in to produce products as you hit your target minimums. With more than 15 years of professional writing experience, Kimberlee finds it fun to take technical mumbo-jumbo and make it fun!

Her first career was in financial services and insurance. By Kimberlee Leonard. References Inc.