Rick Smith

Is it possible to start a business with little money or not? Absolutely. In fact, already in 2004 that is exactly what I did. World threw 50, investing only $ 400.00, and that went to buy fixed to print invoices.

This was good news for me because I had no money. Absolutely nothing, nada, goose egg, bagel. And I quickly discovered that investors do not invest in you anyway until proven model, and then take everything for their investment. Bad idea, especially if they have a history.

I learned that with the right approach, start a business without money is not only possible but results in better company. Here are some tips:

1) living in his current job as long as possible. There is no reason you can not explore and experience through his first full year of launching a new business while holding down another full time job. The first year is about thoughts, to come with bad ideas and let others explain why they are bad, and how it can be better. You can nurture and develop the idea, and also build the first wave of enthusiasm with prospective clients and employees, while moonlighting.

I was fired? Even better. After the first weeks of job search, no can spend 50 hours a week is focused entirely on the job search. Think Jack Nicholson in The Shining. Use your non-search time to gestate and spin-a new idea. It's healthy and can actually lead to something. This is what happened to me.

2) It allows customers to finance their working capital. This is the key, although it is not possible for every business model. Development, testing and manufacture of some products requires a significant capital up front. But for a service company is much easier. My company sold members annual subscription to the executives. The fees must be paid in advance, but our costs were not made until months later. Without pay (living in a couple of months of pay) and no immediate expenses, plucked a function of bank of $ 300K and rising.

Even if your idea is required to make a product, you can start low cost. My good friend, Sara Blakely, Spanx started the incredibly successful company with less than five thousand dollars. Was investigated and wrote most of the patent on their own (with the attorneys for the cleaning), then and borrowed to find a plant to its prototype. From there, lined up orders, and cash flow equation fell into place.

3) Outsource the sales process. You can not afford to hire (or commit to) the high ticket sales. Find companies that already have a relationship with your target customers, and 50-inch rope led World the highest level executives in the world, and I had a small problem – they had never met one! But I was able to speak of Accenture, Bain, Omnicom, WPP and other in making all the presentations for me – all I had to do was close the sale.

In fact, these quickly became associated companies so excited in my new company that donated all of our trademark work, technology development and public relations – and each <i> actually paid me $ 50,000 </ i> the right to do so! Now it can be difficult to imitate, but if you can find ways to get their members excited, you can get help.

4) No need to provide equity. Many people I have talked to think that if you have no money, then the only way to launch a new business is giving away a lot of capital – to partners, employees, customers initials. Not so. I seriously considered give our first customers and capital partners in the company to get their participation. But as it turned out … not! Customers can easily register and write a check, it was a simple transaction – but even if they received a percentage of capital, went to their legal department – and good luck wading through that mess. As for my service provider partners? They just wanted to participate in what my company was doing, and have no liability in trademark case Screwing things up. Take the big horse. I followed 100% of the equity.

In the end, the launch of a business without money forces you to 1) build a better model with sustainable cash flow right of the door – one of the most important, 2) truly engage their members – are unlikely to succeed without them (or money), and 3) maintain control! You need to steer the ship, not their partners or customers, and certainly not its external investors ( "Hey Rick, has been 3.5 years – the time to sell! ")

The bottom line is this: If you can not earn interest and attention of customers, partners and employees, you can not buy. And if you can, then why pay for it?

What are some creative ways they have seen for start a business?

About the Author:

Rick Smith is a blogger (www.RickSmith.me), bestselling author of the upcoming book The Leap: How 3 Simple Changes Can Propel Your Career from Good to Great,(www.leapbuilder.com) and founding CEO of World 50, cited as one of the most influential senior executive networking companies in the world. Members include C-level executives from more than 200 of the Fortune Global 500 companies.

Article Source: ArticlesBase.com – How to Start a Business with No Money

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