How to start a business with no money
You know most of the online business gurus will tell you to not start a business with no money. They’ll tell you well go get a job.
And I understand exactly where they’re coming from but what I don’t think is often considered is that there are people who simply can’t just go out and get a job or get a better paying job in some situations.
There are plenty of people that have to either stay at home or might actually be excluded from the job market because of something in their background or because of health reasons.
There are plenty of people with invisible illnesses that often find themselves discriminated against in the job market and can’t just get a good job.
So today for those of you who can’t enter into traditional employment but need an income or you’re in between jobs right now and you’re looking at another potential opportunity even to start a side hustle, I’m going to tell you about some business opportunities that you can start with no money or very little money.
And for the nine losers who are gonna worry about it in the comments, I’m not selling an online business course but even if I was you should probably buy it.
Hey everybody, this is Manish helping you create something awesome today. For those of you who are new here, you have no idea who I am, first of all welcome. Thanks for dropping in on this article.
I’m an online business owner and I also am a public speaker and I like to teach people how they can build their own brand and business online so they can have a little bit more control over their life.
And today I really wanna talk to you about starting a business on your own terms with no money, how to start a business with no money.
First things first, you can either have a service-based business or a product-based business.
Let’s start with a service-based business because it has the lowest cost to entry but it does have some requirements.
With a service-based business you can either trade in on your skills, experience, or knowledge.
I like to tell people that even before you start a formal service-based business consider freelancing.
If you haven’t done freelance work before I have an entire article on getting started and several articles on how to find freelance clients, freelance job websites.
So if you need to make money fast and you have some level of skill then I’m gonna recommend you read those articles because it’s going to help you do something that can make you money today, this week, this month ya know in the next 30 days. So definitely would recommend that.
What are some examples of service-based businesses? Social media marketing, web design, graphic design, app development, copywriting, or become a virtual assistant.
Being a virtual assistant is the most practical, stay-at-home business that you can do with zero money and here’s why.
If you become a virtual assistant and you work for entrepreneurs or you know you work for influencers, there’s a great opportunity to make decent money and it costs very little up front because all of your software and services that you typically use as a virtual assistant tend to be free, meaning that you can use all of the Google suite in terms of Google Docs, Google Sheets, just like Microsoft Word and Excel, Google Drive, you have almost everything you need.
There are communication tools for you to do online video conferencing with your clients like Skype and Zoom.US and so many others.
There are a lot of opportunities to do work as a virtual assistant managing people’s email, managing their contacts, taking Google Voice calls and filtering their calls for them. There’s a lot of opportunity there to make good money and the reality is that you can do it from anywhere in the world.
So don’t underestimate what being a remote worker means and that in this current digital economy you could start a business like this with no money.
By focusing on things that rely on open source software and just being able to provide a service, direct value to the market, there’s so much opportunity there.
Now in terms of getting those opportunities, there are online marketplaces and you can use social media to your advantage because those websites are free marketing without even buying ads.
Now let’s talk about a product-based business. What I like to talk about is knowledge commerce, intellectual property. This is something that has helped me in building a six figure income and diversifying my revenue streams.
I trade on my knowledge because if you have a service-based business you’re still trading time for money. I did a whole video about trading time for money.
Now even with a service you can just bill for your services. It still takes time and hustle but at least you’re not working on an hourly rate in most cases.
If you are you need to bill higher. So, let’s go to a product-based business because this is where you get to leverage your smarts and build something that can make money potentially when you can’t work because as I said it’s not about being lazy.
Some of you physically and for health reasons or for family reasons can’t always put the hours in but if you can put some in up front or over a period of time, you can build a product that makes the money for you and then later once you’re profitable, maybe you can leverage other people’s time.
So there are a lot of ways to approach developing a product. I think one of the most accessible ways is self publishing an e-book with Amazon and making some money up front.
It’s a very entry-level product and it can help build your brand in your niche.
So what I recommend is if you have knowledge you can deploy that in the form of e-books and that could definitely help you as a first-level product.
There are people who can build online courses and sell them without building a massive audience.
Most people do build an audience and are able to sell their online courses.
They build their brand or they run ads. But if you don’t have money the thing that I would recommend in terms of a product-based business is one where you can use skills to build something like assets.
Templates and assets do very well in terms of a product-based business.
For example, there are people who’ve built an entire business around web design templates, WordPress templates, or if they have app-developer level skills they build appliances, they build social media plugins and sell them online or they build mobile applications and they sell that online and it’s profitable.
Now again, these are higher level skills but if you have no money that’s the answer. If you don’t have money then you have to have skill and that’s why you have to learn a high level, a high-income skill, something Dan Lok, great online entrepreneur, talks about all the time.
I’ve been living it for years and I’m only here today because I have high-income skills. But the good news is I developed them by learning online for free for most of those skills.
Now with e-commerce, even digital commerce, the barrier is that sometimes a little bit of money goes a long way.
If you don’t have an audience, having even a little bit of money to spend on Google or Facebook ads could make all the difference for that online business. Also there are people who wanna do drop shipping and sometimes you have to put a little bit of up front money into that.
The reason that I think a service-based business is the one to go into if you don’t have any money is that you can just go ahead and immediately deliver value to the market even if for example,
let’s say you didn’t wanna do something, ’cause I know a lot of people sometimes are like, “Manish, I don’t understand all this online or tech stuff.”
Well, you could use the online component to strictly do marketing and you could still do a real world service-based business outside of traditional employment whether you’re going to do mechanic work, whether you’re going to do lawn care, whether you’re going to do child care, whether you’re going to do dog grooming or dog walking.
You could leverage free online marketing to scale that physical service and to build your brand and reputation in a way that makes you a a little bit more prominent or be able to charge a higher rate than everyone else who’s providing that same service.
So you could kind of build the brand and I teach you a lot about that here on the YouTube channel. There’s videos on marketing yourself here on Instagram, YouTube, LinkedIn, so on and so forth.
You could take advantage of those things. I think that skill like copywriting, I wouldn’t necessarily even call that being tech savvy. Copywriting comes down to the ability to communicate very well and usually again, this is something that a lot of people will pay good money for.
Graphic design is another great service-based business that again the technical skill is down to the applications of the software more than anything but the actual talent and ability doesn’t come from the software it comes from you.
So don’t let the idea of technology talk you out of starting a business. Now briefly pivoting back to products.
I think that products are more challenging to understand market demand for and then also how to properly deliver them.
There are more systems and mechanisms that people typically need in place for a product-based business than a service-based business.
I still think that with little or no money you can get into that but also think it’s for some very specific markets and I think that people who have either knowledge and can go into what’s called knowledge commerce with online courses and e-books and things of that nature or have visual talent in terms of the ability to make assets whether that’s video animation and photography, I think people with those skillsets lend themselves much better to a product-based business than a lot of other people.
I think in terms of leveraging physical products, you have to put money behind that.
Examples that are an exception to the rule might be if you’re very creative and you can do a print-on-demand based business in terms of artwork, posters, T shirts, things of that nature.
That allows you to deliver a physical product. You obviously will have some margins against that cut into your profits but it is possible if you really are adamant about delivering something that’s a physical product.
So again, those are some ideas on how you can start an online business with no money. And I hope that this was very helpful for you guys and I hope it was encouraging because, like I said, I understand that some of you, you’re not lazy you just can’t win in the traditional market and maybe the world of traditional employment has just said no to you and I want you to realize that there are options available to you and that you can have an opportunity to still provide value, still ya know feel a sense of self worth, and of course bring in an income that supports you or your family. Question of the day.
Let’s help as many people in the comments as we can. What are some business ideas that you have that I didn’t mention that require little or no money to start and have you built a successful business?
Do you have a story, a success story that we can learn from in the comments? If you do, please share it and of course please share this article out.
And I’m gonna do something different. I’m gonna ask you guys if you’re reading to the end of this video here to share this in online communities like Reddit, in the entrepreneur and freelance sub-Reddits and places like that.
I wanna get my article out there more and I’m gonna be kind of stalking internet forums and starting to answer more questions and engage there because I really want this material to help people so that they can help themselves.
Anyway, like this article if you like it. Check out the other awesome stuff here on the website and as always you guys, thanks so very much for reading and don’t forget, go out there and create something awesome today, take care.