L
Leadinginbusiness
Guest
How To Start A Business When You Have Literally No Money
- Ask yourself what you can do and get for free. ...
- Build up six months' worth of savings for expenses. ...
- Ask your friends and family for extra funds. (this is the easiest source of funding because these people are around you) Remember, you’re not asking for charity. You’re not asking your friends and family to support your wacky business idea. No, you’ve got a dream of a business and your business plan is solid. You’ve crossed your t’s and dotted the i’s. That’s why you’re looking to those closest to you when making your pitch. Use your friends and family as multi-layered resources.
Practice your sales pitch with them. Ask for feedback. And, when you’re ready to launch your business, ask if they can help with a small loan to kickstart the business. Just be sure to get everything down in writing and when you’ll pay them back. You can even use a crowdfunding platform to encourage the people around you to encourage their networks to pitch in. - Apply for a small business loan when you need extra cash. ...
- Look to small business grants and local funding opportunities.