Back when I first started my business I would've killed to know what's the best way to start a business with no money. Back then I had just come back from deployment and was struggling to figure out how to start a business so that my wife could stay at home with our two daughters at the time. That being said, this article will share some of the ways that you can start a small business with no money.
Start reading good business books
The very first thing that you need to do is change your mindset. Yes, it's boring, but would you rather spend three hours watching the boob tube every day and in 20 years still wish that you started a business, or do you want to be running a successful business? Alright then man up (or woman up) and start reading.
The very first book that I would recommend is the Silent Sales Machine by Jim Cockrum. Normally it's five dollars but if you sign up for our email list you can get it 100% free. If you really want to know what's the best way to start a business with no money, this book is the number one resource for learning how. It's what turned Brett's $400 into a multimillion dollar company, and what helped me and other members of our team grow our business significantly.
While it may not be what the audiobook companies want to hear, if you go and search on YouTube for business audiobooks, more often than not a lot of the semi-older books are available for free. I'm talking about books that every buddy who starts a business needs to read. Rich Dad Poor Dad, As a Man Thinketh, The Millionaire Next Door, and so on. Get them while they are still up.
Forget what you learned in school
This one really tripped me up. Here's a reality, everything that you learned in school is pretty much garbage when it comes to business. Although I majored in business, and I spent the majority of that time grading business plans, marketing plans, hundred page turn papers, and so on - nobody cares in the real world.
Do you know who cares the least? Your customers.
When you start a business there's only one thing that you need to consider and that is are you making sales?
Now, I know you're to ask how can I start making sales when I don't have money? Well, be creative. If you want to sell something on Amazon or eBay you can go to your local store, find something that you want to sell, listed on Amazon or eBay, and then when someone buys it off of your listing go and buy it from the store and ship it. (This is called drop shipping)
On the other hand maybe you want to start a service business. If that's the case go start pitching your services to customers. When one buys, and only when one buys, then go by the tools you need to get the job done.
Notice I didn't say to go out and form a limited liability company, or set up some kind of legal fund, or write a five-year marketing plan. Go out and get sales and then fund your business.
So What's the Best Way to Start a Business with No Money?
Honestly, if I had to do it all over again and I had zero dollars to spend on my business I would read up, then I would go and use Amazon's trade-in program to start building capital, and then use that capital to start selling on Amazon FBA (Jim Cockrum talks about this in his silent sales machine book that you can get for free from our email list).
Using platforms like eBay and Amazon are a very easy way to start building a business since you are essentially going to where millions and millions of customers are. It really is super simple.
What's the best way to start a business with no money? Go make sales.