There are a lot of people out there who want to start a business, but have no money. That’s why I wrote the book, How to Start Your Business with $100. Starting a business with very little money can be daunting, but it’s not impossible. Small business owners need to use every possible resource they have to find the funding to get done what needs to be done. Starting a business with no money isn’t ideal, but it can be done. In my recent post for LegalZoom, I provided 10+ ways to fund your startup. I decided to broaden out that list. Here are 31+ ideas on how to fund your business when you don’t have any money.
1.) Write an amazing business plan and use it to ask for money from family and friends, promising a return on investment.
2.) Use the business plan to ask for a bank loan too
3.) Take out a home equity loan
4.) Refinance your mortgage
5.) Cash out your life insurance policy
6.) Use social media to market yourself and look for investors
7.) Look into government grants that may cover some of your costs
8.) Use your personal savings
9.) Find a business partner
10.) Have a yard sale and sell everything you don’t absolutely need
11.) Invest every cent you get from your taxes, birthdays, gifts etc. into your business
12.) Barter with other companies to get services you need for free
13.) Use your line of credit to buy what you need
14.) Dip into your retirement savings
15.) Work full time and put all your earnings back into your company
16.) Work part time and put all your earnings back into your company
17.) Find an Angel investor (basically an individual rich person)
18.) Bootstrap your business. Read more about it here.
19.) Tap into your 401(k)
20.) Use a crowdfunding site like Kickstart.com
21.) Trade some of your future earnings for funding now
22.) Hold a fundraiser, like for a politician, only for your company
23.) Remember, you don’t need more than $100
24.) Read a lot on how to fund your business, like this great article on how to finance a startup for the best growth
25.) Do what you can with no money — learn to build your own website, promote yourself at free networking events etc.
26.) Sell any real estate you might have
27.) Enter any award or competition you can find that has a cash payout
28.) Use Facebook, Twitter, or LinkedIn to get clients so they will pay you
29.) Start a blog to gain excitement for your business before it even launches
30.) Build up your web presence, build up your name, build up your relationships
31.) Lease your big ticket items so you don’t have to pay in full
32.) Look into private lending
Whatever you decide to do in order to make your small business dreams come true, remember there are so many ways to fund a start-up, and you just need to find the right one for you. Do you think you will use any of these tactics? Have you already tried? We’d love to hear from you.
Connect with Ja-Naé on Twitter, LinkedIn, Facebook
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Looking to start a business or own a small business? Please consider buying my book, How to Start Your Business with $100 because it will save you thousands of dollars and you should find what you’re looking for.
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