How to Start a Business Without Money

Many times when you are an entrepreneur you don’t have adequate capital so you have to start from scratch.

When developing a business, three basic aspects must be activated:

  • Creativity,
  • Courage, and
  • Know how to express yourself.

The lack of money must be fought with ideas, it is complicated, but it is possible. The decision is what makes the difference. Little by little, the first steps are taken according to what is available or what we know is good or useful. A good idea is to take an inventory of what you have and plan based on that.

We have to consider two aspects of strategies to start a business:

Technological strategies

It seeks to update itself, mainly to optimize communication with the client. The first thing that is recommended is to acquire a domain, it has a value of $ 10 a year, which represents an investment, since this generates confidence. The second is to establish communication channels within the company, such as, for example, through professional E-mail. On Google the price is $ 5 per month, but it allows many benefits such as calendar for planning, corporate mail and conducting video conferences. This makes the company project itself with a higher level when being with a client, since it is visibly more organized.

After having a name and domain, it is time to move towards creating a web page. This can be simple, it does not need to be very developed. It is possible to use Facebook and Google Maps to have more recognition and in this way it is not necessary to invest in the design of a web page, in addition, it can be redirected from the domain.

After having solved the issue of the page, we must look for a good place that makes the company look more professional. It is not necessary to move, there are other companies that give you the possibility of obtaining addresses for $ 200. It is a little more expensive, but this address located in a more attractive and more trustworthy place allows more possibilities to exist, in addition, there is greater consolidation of a solid business and with greater security.

You must also promote your personal brand and build trust that allows sales growth through referrals, which represents competitive advantages without much cost.

After we have consolidated this, we look for a professional phone, which will cost between $ 9.50 or $ 15. It is possible to hire a virtual PBX (answering machine with pre-recorded message) that gives a vision that the company is established. After maintaining communications with clients, they can be given personal numbers for more direct communication.

Tools to use:

  • E-mail or messages to close people offering services.
  • Use social networks to publish information, images and opinions of users.
  • Use Google Maps to promote or give visibility. It has no cost and it is easy for users to contact and access the business.
  • Business or financial strategies

The main thing is to evaluate the personal position. We must ask ourselves what we want for our business, the resources we have at hand, including knowledge of a subject, knowing the market, and related contacts. In addition, we must know the personal financial position and what it implies, the income we have and the current capital.

A good idea is to associate with other people. You can look for a business or operational partner to work together or a partner who invests the capital while you develop the work. Said partner must complement, the best thing is that he is skilled in other areas in which you are not, to cover other factors within the business. There is a risk to partnering, but it is something to deal with as there are many benefits to be gained.

If we do not have capital and we cannot associate, we must look for an option. The priority is to generate sales or income and there are two ways to achieve this:

Generation and attraction of sales: Income is sought when making traditional sales.

Generate and attract investors: The business is structured, explained and attracted or convinced that the business is profitable and will work.

Tips for structuring brands

In the first place, we must have a name and it must be attractive, as it generates an advantage to use the brand, which gives greater sustainability of the business. If it is short it is much better since it is easy to remember.

When selling services, it is better to locate social networks that suit the company. If you are a professional, the best network is LinkedIn or similar. By having these social networks, it is not only about opening them, but also working on them. A time must be sought or established to develop them.

You should not be stingy with information, a good strategy is to generate valuable content, since this allows you to position the business as a connoisseur or specialist on the subject.

THE ONE, TWO, THREE TO SUM UP

Technology:

  • Get a domain.
  • Use Google Maps.
  • Generate content.

Finance:

  • Know position.
  • Available resources.
  • Use business tools to attract sales or investors.

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