Feel like you are stuck in a rut in your existing job? Ever get the feeling, that I wish I were my own boss? Have a business idea but don’t know where to start?
You can be a homemaker, a working professional or even a freelancer, starting your own business is always going to be one of the most daunting tasks in your life. If any of you have ever thought about starting your own business and not done it yet, we want you here to pause for a second and think of some of the reasons behind not taking the plunge…
If it is because of either not having the money, or fear of losing what you have, we scooped up some pro-tips on starting a sustainable business without investment, and no, we are not suggesting tele calling or data entry. Read on to know more!
In today’s world, we are swamped with valuations of companies reaching the 8-9 figure mark combined with losses/cash-burn rates which are at times a significant (if not more) proportion of their earnings. This probably leads a lot of people to believe that the only way to start a business is with high investments. But let’s take a step back and look at the traditional/experienced way of doing business:
(BUSINESS =UNIT ECONOMICS + PROFIT)
Isn’t that all we are trying to do? Create a sustainable business that will help us flourish now and in the long term.
What if we were to tell you that to kickstart a business one does not even need to think much into the unit economics and the number crunching game, rather the easier way to start is to focus one’s attention on just doing good business.
We gathered our top tips to start a business without investing a large sum of money, just your effort and smartness will be handy.
Facebook groups and borrowed audiences
Facebook groups and communities are a very cost and effort effective way to reach out to a large group of people without investing in your own technology platform. It is a very interesting case of borrowed audience where you can piggy-back on the already existing users of Facebook, and build a community of people interested in what you have to say / sell.
Works best: For sellers of mass-interest products & Individuals looking to create communities on a specific cause/ theme.
Pro Tip: Start a Facebook group with a good self-explanatory name and incentivize people to add their friends.
Social media outreach
Sitting at home, one can easily see tutorials on how to best utilize Facebook pages, Twitter Handles as well as Instagram profiles to sell your products or services. These are easy to learn skills that go a long way in bringing sales and brand recognition for your business.
With regards to social media, blogging is also a profession that has picked up in recent times, and there is a large scope for the same to be done without investment. So if you have something to say/sell, go ahead and create your distinct social identity.
Works best: For people interested in writing (Blogging) and brands in need of larger outreach
Pro Tip: Check out Facebook Blueprint
A very good platform for freelance service providers are online platforms like Fiverr.com, Upwork and Truelancer. These work really well for individuals who don’t want to do their own marketing, or want to create a portfolio / platform by themselves. Just easily register yourself, put a effort in creating your profile and make sure you share samples of your work. In a few days, you will see good offers coming in right in your inbox.
Works best: For individuals that have services to provide or skills to share like graphic design, content writing etc.
Pro Tip: See the other listings of services like yours and offer a competitive pricing
An upcoming method to reach out to new audiences is using Whatsapp. As it is a medium that is accessible to a large audience, you can easily make catalogues of your products and services, and circulate via friends groups and small communities.
Works Best: For selling of products with a large mass interest
Pro Tip: Incentivize individuals to market your products through their whatsapp networks
Like these tips? Think they will help? We are here to help you to be bold, take the next step into a world of being your own boss and achieving your idea of kickstarting that business, and that too without spending a penny. These tips should be all you need to stride ahead with confidence and flourish.
We’d love to hear your thoughts or suggestions with regards to these tips, so feel free to comment below!