Step 1
Be realistic about the type of business you should
start. Some businesses, especially those that require extensive
technology, research or skilled labor will be too difficult to start with
no money. Instead, choose a field that requires little upfront investment.
This would include most service businesses or any kind of handmade
product. Some potential ideas that require no money upfront include
childcare, handyman services, consulting or craft sales.
Step 2
Consider what skills you currently posses that you
could use to make money. For skills you already have, you won't need
training or basic equipment. Also, because you have experience in the
field, you are less likely to make costly mistakes early on. For example,
if you love to bake, consider selling baked goods at fairs and events.
Eventually, you can begin to sell your products to cafes and stores for
resale. Because all the cooking can be done at home, you won't need money
to get started. Thousands of skills and hobbies can be transformed into
businesses without a source of start-up funding.
Step 3
Wait to hire employees. In the beginning of a
business, the huge number of jobs that need to be completed can seem
overwhelming. To start a business with no money, you'll need to do all
these jobs yourself. To keep from feeling overwhelmed, realize this is the
trade-off you made to allow you to achieve your dream.
Step 4
Take advantage of free resources. The U.S. Small
Business Administration is a free government agency designed to get small
businesses off the ground. They offer a variety of free services, ranging
from help with business plans to legal and accounting advice. Check the
organization's website to find your local chapter. Your local Chamber of
Commerce or Business Development Office may also offer free services or
mentoring, so check with your local government to find out.
Step 5
Rely on free marketing techniques. Word of mouth
advertising costs nothing. Consider everyone you meet as a potential
customer, but also as a free advertiser. By sharing your business with
others, you are exposing your company to that person and their entire
network. You can also use free websites such as Craigslist, Twitter and
Facebook to spread the word about your company.
