How to start a business with little or no money

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Starting a small business can be an exciting prospect. It allows you to be your own boss, work when you want and brings your own vision to life. However, when you are starting out it can be a little overwhelming. Thankfully, these days it is easier than ever to start a business even if you have little or no money to do so.

Decide what you want to do

Before you invest your time, effort and any money into starting a business, it is important that you are passionate and enthusiastic about the industry that you are going into. The prospect of money will not keep you going, enthusiasm and passion for what you are doing will. You might have long days and it could take you time to build momentum and a client base. Moreover, you might be in the industry for many years to come so it important that you choose the right one for you. A good place to start is your hobbies and interests. Use these to create a list and then think about what service or product you could offer from that. Generally, businesses offer a service or a number of different services or a product or a number of different products.

Consider your skill set and how you will find clients

The easiest way to start a business with little or no money is by using what you already know. If you are good at painting or drawing could you turn that into a business? Maybe you could paint portraits or paint what you want and sell the paintings on eBay or through a local shop. If you are good with children you could start a childcare service, maybe you are handy at DIY or home improvement you could you charge people to build their furniture, put up shelves or lay flooring. If you have a penchant for cleaning and keeping things neat then you could start a cleaning company. It is not always necessary to re-train to start a business. But it is definitely worth making sure your skills are top notch.

Once you have decided what area you are going to work in look at similar businesses and the services they offer and their prices. Think about what you could improve and make a note of what you like.Begin by offering just a few services or products and then build it up gradually once you have some experience. How you find clients will depend on your line of work but you can use flyers, web advertising or simply local ads to help you. Once you have one or two clients make sure you give them good service and they will recommend you. Word of mouth is one of the best forms of advertising you can get.

Starting small will help you keep costs down and build your client base up. Don’t over-complicate it, a window cleaner, a hand car wash or a gardener can all be profitable businesses and require very little money to start. Be creative and you will come up with something. If you have any doubts or questions about what laws affect your business and any license you might need then contact an attorney.