When starting a business it isn’t always expected that you have money. In fact, a large portion of the top companies around the globe were founded by individuals without a massive amount of starting capital. What drove these companies to success were the founders’ drive and determination to succeed. An immense amount of desire is a fundamental trait when founding one’s own company. Founders are relied upon to convince the public why their product is better than what the market already offers clients. While this determination cannot be taught, these next few tips are a surefire way to help you get your business off the ground.
Market Your Idea
Perhaps the most important thing when founding your own business is managing the exposure it receives. Marketing is huge and without a proper marketing strategy there’s a high chance that your company won’t make it very far. While historically marketing is an expensive luxury, there are ways to get the word out there. Using social media is a great and simple way to garner interest. Platforms such as Facebook Pages, Instagram, Twitter, YouTube, etc are all fantastic places to get started that encourage natural growth if you’re active. Promoting your idea, or product in a unique way will do wonders to separate your brand from competitors.
Have an Easy Payment Method
While establishing your brand is the end goal, acquiring your earned revenue is an undisputable route there. Having an easy way for customers to pay for your services or product will set your brand apart from established companies that still utilize clunky payment methods. Accepting Apple Pay, Android Pay, and utilizing online markets such as eBay, Poshmark, Instagram Shopping and more are great methods to modernize your idea. While utilizing products such as Square no doubtably makes payment easier, if you’re a little strapped for cash these online markets are a great starting point.
Plan Realistic Short Goals
The end goal is to succeed the best way you can, however, having shorter realistic goals will help build morale and confidence. Start with monthly goals that you can solve through your already established skills. This way, each month you will have smaller, more obtainable milestones that you’ll reap the rewards of on a regular basis. Also, keeping them monthly instead of weekly helps manage anxiety and stress of not reaching weekly goals. A month-long goal is a great amount of time to let you plan and strategize what you need to do. Take your current skills and apply them in a way that will further your business as opposed to building around skills you will have to learn.
With or without money, you can’t give up when starting a business. Founding your own company requires an incredible amount of determination that often isn’t taught. One needs to have that “it” factor in them, and if they do, often money won’t be an issue. Entrepreneurs have a way of figuring problems out regardless of the circumstance. While having a large amount of capital helps when starting a company, that determination is what keeps a company afloat. Because, ultimately, it’s about how you will succeed in the end, not at the start.
Have any more tips for starting a business without money? Let us know down in the comments.
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This article was originally published in GREY Journal.