When starting a business, finding an idea is half the battle. The other half is funding it.
If you have a great business idea but you don’t have startup capital, it doesn’t mean your path to entrepreneurship is over. There are plenty of ways to start a business—even if you have no money to invest.
This guide shares how to bootstrap your own business with minimal cash. The goal? To start making money you can later reinvest into growth. From validating your idea to making your first dollar, here’s how to start a business with no money.
8 steps to starting a business with no money
- Find a free business idea
- Write a business plan
- Lean on the entrepreneur community
- Choose a business name
- Create a brand
- Launch a website
- Validate ideas with preorders
- Source funding to grow
1. Find a free business idea
The first stage of starting a new business is developing an idea. If you’re ready to become a business owner but don’t have any personal savings or other funding sources, here are six creative business ideas you can start with no money.
Dropshipping is a popular business model for entrepreneurs looking to start a small business with no money. This is a low-investment startup idea because you don’t need to hold inventory to sell products. Vendors will only charge you for inventory when you sell it, and they’ll even ship it directly to your customers.
“As a master’s degree student, I didn’t really have much disposable income, so I decided to learn how to dropship,” says Zaid Shahatit, founder of Fighthaus, on his own foray into entrepreneurship.
To find success with dropshipping, start with sourcing trending products and market them to potential customers using organic marketing tactics, like search engine optimization (SEO).
📚 Read more: Dropshipping Fulfillment: Guide to Supply Chain and Order Fulfillment
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