In this online age of one minute millionaire entrepreneurs, everyone wants to get rich. Starting an online business in the wave, so a very common question that people ask is how to start a business when you don’t have much money.

I think it’s a really good question, because it shows the desire and hunger to move on your ambitions in spite of your circumstances not being ideal. Here’s a video that I recently posted on my Instagram page about this topic.

 

 

Just to expound on my answer from the video, these days it’s really easy to start all types of businesses online. If you want to be an entrepreneur, there are endless opportunities and resources available to you that make it possible — even when you don’t have money. 

You’ll always need to weigh your options and choose the route that’s best for you. When you want to start a business but you don’t have money, you can do one of two things.

Option #1: You can wait until you have more money. 

And it’s totally okay if this is what you need to do. If the business you want to start will require that you invest money up front, then by all means, wait until you have the money to start your business. The last thing you want to do is try to start a business that absolutely needs up front investment without the proper planning and financial backing. 

Every online business isn’t one that can be bootstrapped. Figure out how much money your idea will require and then find a way to raise that money. You may have to cut back on unnecessary personal spending so that you can save. You may have to go out and get another job. You may even have to get financing for your business, but don’t make the mistake of trying to start this type of business with no money. You’ll fail faster than you can say, “Oh shit, I fucked up”!

Option #2: Invest your time as if it’s money.

There are hundreds, if not thousands, of businesses that you can start online with little to no money. The thing is, that nothing is absolutely free. If you can’t invest money, you’ll have to invest your time as if it were money. 

Ask yourself this question. Who’s better off? Person A who throws $10k into starting their business but never invests any time, or Person B who invests hours and hours every single day into starting their business but doesn’t have much money?

I’d bet on the person who invests time. Why? Because time is more valuable than money. The person who puts in the time, is deeply invested and will learn the ins and outs of their business. The person who just throws money at their business but never gives it their time, probably won’t last long.

Starting with no money won’t be easy. Any new entrepreneur should eat, sleep, breathe, and shit their business, but when you start a business with no money, you’ll have to do that x100! It will be harder for you, because you won’t have the money to run ads. You’ll have to do everything yourself, and you’ll have to come up with creative ways to get sales. 

But don’t let that deter you. It’s still very possible to start a business with no money. You can find a wholesaler who’s willing to dropship their products to your customers, or you can take pre-orders for a product that you plan to make or buy in bulk. Then you can build yourself a website using one of the many free drag and drop platforms out there that make building your own website super simple. To get your first few sales, use your free social media accounts to advertise and tell your family and friends about your products or services.

You’ll need to take the money you make from your first sales and put that back into your business. As you do so, you’ll be able to grow your business, run ads, buy inventory, and improve. 

Just to reiterate. There are some businesses that absolutely require money to get started. The key to knowing whether your business will require money is to research and plan.

When you come up with an idea for a business that can be started with no money, you’ll just need to replace money with determination and ingenuity. The question you’ll always need to ask yourself is, “How bad do I want it?”

Where there’s a will, there’s a way. If you really want to build your own business, there are ways to do so no matter how much money you have. You just have to get the idea — that everyone starts from a place of success — out of your head, because no one does.

You don’t get to see people sleeping on floors and in cars, or eating beans for dinner every night — making extreme sacrifices for their businesses. All you see is the shiny, sparkly millionaire business owners that you want to be like and you forget that there was a shitload of work, sacrifice and time that got that person there.

So if you don’t have ideal resources and money to start your business, bootstrap that thang — meaning use what you have to get what you want. You don’t need money, you just need to be creative and have a relentless desire to succeed.

Are you using what you have to get what you want? Find me on Instagram or Facebook and let me know.

Also, visit my website to check out the courses and training programs I offer and to listen to my podcast, Master Your Mission, for daily motivation and inspiration to pursue your dreams.