How To Start A Business With Limited Or Zero (0) Budget

When you’re tired of being a corporate slave, oftentimes your mind wanders off and imagine things like, “What if I’ll start a business of my own out of unread spam letters?”

So, what keeps you from obtaining these goals? I’ll tell you what, and it’s one of the most common problems that everyone faces.

One of the hardest obstacles for any new entrepreneurs (or veterans of the game) is having a limited budget. It’s that invisible wall of resistance that stops most would-be entrepreneurs right before they even start a business.

Imagine this young and hopeful boy who is having his first crazy business idea while painting their fence. He thought to himself, “If my parents are paying me $5 to paint our fence, how much do our neighbors charge for their fence”?

Looking at his surroundings he saw that it’s not just fences that need painting, there are also roofs, walls, garage doors, and many more. With his friend’s help, they went to every house on their street, marketing their services for a reasonable price.

Back then, even with a bad economy, people still avail themselves of services. Whether if you are late in the game or just starting, there is no reason for you to back out just because you have limited resources.

Bringing us back to the question of, how do you start a business with ZERO budget?

  1. Rely on a Family Member or Friends.

There is no need to get a loan from a bank to acquire that initial capital for your business when you have a family or friend that is passionate as you.

You have to admit that when you start a business, especially when you’re still new and have no experience, you have to rely on someone that you know since you were little. Like your parents or relatives. It is possible that they will support you on this risky venture.

start a business

Propose your idea with intent, vigor, and consistency. No matter how crazy it is, the only thing stopping your family and friends from investing in your business are forward-looking words. Meaning, no empty promises. Present them with concrete data and purpose on why you are starting this business venture.

  1. Build An Online Presence

We are lucky enough to be born in the digital age and have the knowledge by using different applications available to reach those who are like-minded entrepreneurs. You can exchange and share your ideas online to help grow your audience. You might find some interesting facts that you might not be aware of.

  1. Learn A Marketable Skill

To me personally, to be good at any business, one has to be a good communicator. If you are able to communicate well, you can convey your ideas to customers and close the deal immediately.

  1. Do Free Consultations

A person who lacks a particular set of skills, they are usually looking for some alternative ways to learn this skill. And if you’re a person with a wide variety of skills then you can impart that knowledge to those who need it. Then you can send them the bill.

  1. Set Up A Google My Business

If you already have your business, Google My Business (GMB) lets new customers locate your business with ease. This tool is free and can track analytics based on your website.

Dennis Yu

About the Author

Dennis Yu
Dennis Yu is co-author of the #1 best-selling book on Amazon in social media, The Definitive Guide to TikTok Ads.  He has spent a billion dollars on Facebook ads across his agencies and agencies he advises. Mr. Yu is the "million jobs" guy-- on a mission to create one million jobs via hands-on social media training, partnering with universities and professional organizations.

You can find him quoted in major publications and on television such as CNN, the Wall Street Journal, Washington Post, NPR, and LA Times. Clients have included Nike, Red Bull, the Golden State Warriors, Ashley Furniture, Quiznos-- down to local service businesses like real estate agents and dentists. He's spoken at over 750 conferences in 20 countries, having flown over 6 million miles in the last 30 years to train up young adults and business owners. He speaks for free as long as the organization believes in the job-creation mission and covers business class travel.

You can find him hiking tall mountains, eating chicken wings, and taking Kaqun oxygen baths-- likely in a city near you.