how to start a business without money

1. How to Start a Business Affordably Starting a business takes time, energy, and a big savings account. Creating one’s own brand and company is no easy feat, yet people do it every day. Those without an influx of cash are left with what seems like an ultimate Sophie’s choice: go into debt creating their own business or give up on those dreams. There’s a better solution. This guide will give readers an overview on how to start a business with no money. Legal Entity The legal entity of a business are the rights and responsibilities a person needs to acquire to open their business. There are different options potential business owners should consider when delving into the legal aspects of business ownership. Free Option: Sole Proprietorship The free option in creating a business is sole proprietorship. This is when the owner of a business is the same person who runs it. The sole proprietorship is not technically a business entity, so it does not have to cover the same legal process as an actual business. They do, however, are liable for all their liabilities, taxes, and it’s hard for them to attract investors and raise capital. This option does not have the same protection as other, more costly options. Affordable Option: Do it Yourself LLC People who are wondering how to start a business affordably should consider using a do it yourself LLC. This is an inexpensive alternative (with some costing as low as $50) and can be done quickly online. The time it takes to fill out this LLC and all its requirements are dependent on the state. This is one of the cheapest options for covering the legal entities of opening a business, but it’s not the easiest. More information on the topic can be found here. Easiest Option: Pay a Company to do it There are companies that future business owners can pay to get their business up and running, and cover all the legal documents. Though this is the easiest way to begin a business, it is also the most expensive. Those who are trying to save some money should skip this possibility. Website The world is in the age of technology. A great tip on how to start a business without much money is by investing in a website. Websites don’t require an in-person location (though many do) and are easy to make. Free Options: WordPress or Facebook WordPress is a free blog site that lets its users attach a domain to their name. An example of this would be “businessname.wordpress.com.” The website offers different layouts and features that are free to the user. They also have add-on options that are inexpensive for anyone who desires an upgrade. For help setting up a wordpress page, check out this link. Facebook also allows businesses to set up a business page online for free. The business page includes hours of service, a business description, a link to a website, and plenty of other cool features. Affordable Option: Bluehost

2. Bluehost is a WordPress affiliated company that is similar to wordpress, but it acts as a hosting system that can be accessed all over the world. The company has three different plans: Basic: $2.95/ month Plus $5.45/ month Choice Plus $5.45/ month These plans come with a range of emails, domains, SSL certificates, website space, and more. To get started with Bluehost click here Easiest Option: Have an Agency Build the Website There are so many great agencies and web developers that specialize in making business websites. They will add all the necessary features and make a website that appears professional and runs smoothly. This, of course, is the easiest option, but also the most expensive option. Many of these agencies charge thousands of dollars to make a custom website. Business Communication As a business, it’s important that customers can easily get a hold of someone with their questions and concerns. Business communication is one of the cheapest aspects of running a business. Free Option: Gmail Google drive has such useful applications like docs and excel. Business owners can easily share their plans and information with this application. They can also give their business a professional spin by adding their business name to their email account, “businessname@gmail.com.” Though this option is free, it makes business look like they are unestablished. Affordable Options: Office 365/GSuite Office 365 has a business plan that costs as low as $5/month, which includes a custom email address. This will help start a business affordable, and make a business seem well-respected and esteemed. G Suite has a business plan that costs as low as $6/month. This has the same allure and features as Office 365. Both of these options are great for business communication because multiple emails can be set up with the business domain, i.e. “info@businessname.com” or “hiring@businessname.com.” Easiest Option: Use a Service Provider Business owners can truly pay to have someone help them with every bit of their company; the same is true with business communication. The easiest, and most expensive, way to professionally run business communication is by hiring a service to create the domain and communicate on behalf of the business. They will implement the email and maintain the conversations for the business. Marketing

3. Free Options: FB Page/ Do it Yourself/ Networking As mentioned before, Facebook allows businesses to set up their own page for free. This is a great marketing tool, as is setting up social media accounts. Market to customers by hosting contests, posting frequently, and interacting online. People can market themselves by putting up flyers downtown, calling potential customers, and talking to as many people as possible. Also use SEO optimization online with keywords and phrases that will draw in more visitors. Speaking of talking to people, networking is a major component of marketing. Every person is a connection, so use them. Ask friends and family to reach out to people they know and tell them to check out the business. It is possible to find people offering free services to gain exposure or experience. It is an easy way to get some basic work started with no money. And once you have a higher budget you can continue working with them knowing the quality of their work. Check out Freework4.com to see if there is anyone offering what you need. Affordable Options: Facebook and Google Ads/ Third Party Tools Facebook and Google– and other social media sites–allow business owners to promote their posts for a small fee. They can pay for this service for as little as $1 a day. Google ads let people cap the budget they want how to make a cheap website to spend. They’ll then use that amount of money to promote their business as much as possible. Third party tools help with marketing, too. Tools like google analytics or Optimizely help businesses check their traffic metrics and create the best marketing plan for their business. The 10 third party tools listed on this site will help business owners understand what will work best for them. Easy Option: Hire an Agency to do it There are plenty of sales and marketing companies that are experts at increasing sales and building a customer base. This is an expensive option, but it’s definitely worth it to get the word out about newly-opened businesses. These are the best options for understanding how to start a business without money. Starting a business doesn’t have to be expensive. Consider all options when getting started, and discover the best way to start a business affordably.