You might be limited to a strict budget when you want to start a business, but that doesn’t mean you don’t have any options. It is possible to start a business with very little money, if you have the right combination of skills, work ethic and marketing know-how.
According to Chris Guillebeau, author of The $100 Startup, “To succeed in a business project, especially one you’re excited about, it helps to think carefully about all the skills you have that could be helpful to others and particularly about the combination of those skills.”
Follow these simple guidelines to start a business when you have little to no money.
1. Make something.
Yes, making something does take an initial cost in supplies, but oftentimes, these products can be sold for many times over their actual cost. What you decide to make is up to you, but there are several places you can sell your handmade options online:
- Abe’s Market deals in natural and organic goods, such as lotions, candles, granola, and more.
- Etsy is one of the largest online markets for almost anything homemade, from jewelry to wooden toys for kids.
- Bonanza is another growing handmade marketplace, similar to Etsy. According to PC World, it boasts over 10 million visits per month.
- eBay is one of the biggest online ecommerce marketplaces in the world, and its streamlined store options, easy checkout through Paypal, and customizable listing options make it a great choice for selling items.