Do you have the next great business idea? Are you ready to hit the ground running and devote your life to getting your dream off the ground?
If so, you may be wondering how to start a business and build a company on a small budget. Thanks to the internet, your budget doesn’t have to hold you back.
Today you can now get started for less than ever, so leave those angel investors where they are for the time being. We’ll show you how to start a business without giving part of your ownership away.
Read on to learn more about how to start a business from scratch.
You Don’t Need an Office Space (Yet)
Starting your business may not require a physical office space and the additional overhead required by your office space.
After all, it’s not just the cost of the office. You’ll need to add in insurance, furnishings, and expenses like parking.
For example, if you’re in the beauty sphere, you could offer to provide in-home services to your client (think lash tech or on-demand blowouts).
If this isn’t an option, you could set up a low-cost location in an established salon.
Stocking a product? Start with a small inventory that you can manage from home or have your inventory shipped to a third-party seller like Amazon FBA.
Consider e-Comm
Vehicles like Amazon FBA and cheap web hosting can help you get your business off the ground if your business is selling a product. In this case, throw the majority of your budget into your product inventory and marketing strategy.
Youtube hosts a wealth of information about how to get started in eCommerce. Need a little kick in the pants? Small business titan Gary Vee is a great source of inspiration. He turned his parent’s liquor store into a $60m online wine business.
Proof that starting small doesn’t have to limit your potential for growth.
Buy It Used
If you need tools or tech for your business, buy it used if at all necessary. Sadly, many small businesses that don’t closely watch their expenses go under.
Because of this, you can often get clothing racks, dress forms, and many of the other things you may need at big discounts.
Websites like Craigslist can be a great tool when looking for the thing you’ll need to start your business.
Hire Slowly
Extra employees can make running your business a lot easier, but save that luxury for when your business is turning a hefty profit. You’ll need to be okay with devoting the majority of your time to getting your business off the ground for the first couple of years.
Enlist the support of family members who you may need to step in to help with things like child-care or helping you sort through Christmas season orders. With hard work and a great support network, you’re sure to be a big success.
How to Start a Business and Build an Empire
Looking for more great advice on how to build your business from scratch? We’re here to help every step of the way.
Check out our blog for more great tips on how you make your new business a success.
