Business Start-up: Welcome To Business Boot Camp
Thinking about starting a business but don't have the money to do so
? It is possible to start a business from scratch without a huge up-front investment. In fact, by following this one small piece of advice, you'll create a stronger business and avoid the one major mistake that many brand new entrepreneurs face.A business seems like it can be complex and expensive to start and there are plenty of purchases that you could make: A brand new desk, a shiny new computer, a multi-line telephone system for when you have employees, a high-end website, and tons and tons of advertising. But the truth is, you don't need to buy all of these things right now. While it is good to think about the future, there is no reason to spend far more than you need to. Instead, buy smaller and prepare to scale up as necessary.
One frequently quoted objection to this idea is "if I buy it in larger quantities, I'll get a discount". While that's true in theory, you will find that the practical result is quite different: Businesses evolve a lot from their initial new-born to their adolescent stage. Buying in bulk may offer a per-unit discount but it will be a waste if you don't need that item after your business evolves.
And there's one more factor at work, which I've seen first-hand: It's the old "necessity is the mother of invention" concept. If you avoid spending and go without on some of the less critical items, you just might find that you can innovate creative solutions and workarounds and you may end up not needing whatever it is you thought you had to buy in the first place!
Start a business from scratch by spending less money on items you think you will need and spending more time and focus on lower-cost offerings:
Leverage your knowledge by selling ebooks and other information products
Leverage your skills by selling coaching
Create an audience and do some affiliate marketing to offer other people's products for a cut of the revenue
All three of these ideas can be good ways to make money without requiring a massive up-front investment. And later, when you're making money, you can build on these by offering additional products and services that do cost you money to provide. In fact, after you earn some revenue it is a good idea to put some aside to invest back into your business. But don't do it yet! Start a business from scratch and build it slowly by bootstrapping.
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