Published on February 18th, 2014 | by LJ0
How To Start A New Business With Little Or No Investment
With the past five years of troublesome financial times behind us, many people are now beginning to feel more optimistic about what the future might hold. Although the global economy is more favourable, traditional jobs are still in decline, and this is why everyone who can, should try to start their own business during 2014. I know what you’re thinking, and yes; funding can be a problem. However, so long as you utilise the advice I’m about to relay, you’ll stand the best chance of getting your idea off the ground with little or no investment at all.
Don’t get me wrong, the methods I’m about to mention won’t be suitable in every circumstance, and some of them might be positively pointless depending on the nature of your startup. That said; across the board; these techniques are pretty popular, but even if they aren’t ideal for you, I’m confident they’ll serve to point you in the right direction as you seek funding. So, give me your full attention for the next couple of minutes, and I’ll do my best to enlighten you.
When most people start their first business, they tend to overspend on unnecessary items, and this is something you’ll need to avoid at all costs. In most instances, there’s no need for you to rent a property or employ staff during the early stages, so you should concentrate on trying to progress your idea at home. Sure, your wife might be a little annoyed that you’ve commandeered the spare room, but at the end of the day, she’ll know it’s in her best interests.
Lease Equipment Instead Of Buying
Nowadays, there are companies that you’ll find online, who will lease you absolutely everything you need to start a company. Equipment leasing is big business these days, and although it’s not a long term solution to your problems, it will help to keep costs down and free up cash for other, more important things. My advice would be to lease until you’re in a comfortable position, and then see how much money’s in the pot.
Do Something Newsworthy
Two of the most important elements in getting a business off the ground are marketing and promotion. Unfortunately, both of these activities can prove to be very expensive, especially if you have no experience in the field. So, I’m sure you’d agree that getting in all the newspapers for free would be warmly welcomed, right? To achieve this, all you need to do is create a newsworthy event. Maybe you’re raising funds for a local charity or you have a strong political message. Anything like this will help your name to spread at no expense to you (other than the cost of a phone call to the news desk).
Well my friends, I hope these suggestions have helped you somewhat, and now you’ll be more confident when it comes to putting the wheels in motion and making a success of your idea. Remember, you can do anything you put your mind to, so just focus on the end goal and everything else will fall into place.
See you back here soon!