Start a Business With No Money

They are both potentially risky business startup strategies and I'm not good with risking capital, especially with a wife and two children to support in an economic climate where nothing is certain.

I've managed to start two businesses from scratch. I sold the first one and the current one is looking like it's going to have an exciting future.

I've learnt a lot about how to do a startup and also how not to do a startup. I've done that by getting stuck in (and there's no substitute for that) but in addition, I've learnt from others.

One of my mentors is a guy called Ed Dale. You may have heard of him - he runs a programme called The Thirty Day Challenge, which teaches you how to make your first $1 online. He is passionate about online marketing but he's equally as passionate about helping people to start a business with no money. He calls it starting from scratch and has done it himself many times. I've enjoyed learning from him because he talks sense.
Investors scare me. Bank loans scare me.

They are both potentially risky business startup strategies and I'm not good with risking capital, especially with a wife and two children to support in an economic climate where nothing is certain.

I've managed to start two businesses from scratch. I sold the first one and the current one is looking like it's going to have an exciting future.

I've learnt a lot about how to do a startup and also how not to do a startup. I've done that by getting stuck in (and there's no substitute for that) but in addition, I've learnt from others.

One of my mentors is a guy called Ed Dale. You may have heard of him - he runs a programme called The Thirty Day Challenge, which teaches you how to make your first $1 online. He is passionate about online marketing but he's equally as passionate about helping people to start a business with no money. He calls it starting from scratch and has done it himself many times. I've enjoyed learning from him because he talks sense.

He has given me (at least) 5 valuable pieces of advice, which I'd like to share when it comes to starting a business with no money in the online space.

#1 Do not give up the day job

Giving up the day job with a plan and a standing start is a surefire way to lose a lot of your savings. Do not do this under any circumstances unless you've been guaranteed an income in your new job. Make a decision to spend the bare minimum on your day job, bring in your salary and then spend every other waking hour preparing for whatever you'd like to move into next.

#2 It is possible to start an online business in today's climate

10 years ago, online marketing was easy. CPC was small and few people were in the business. Today it's harder to succeed, yet the tools make your life easier if you know how to use them. You need to have laser guided focus and a will to succeed.

#3 You need to build a bank

When you start a business with no money, accept it isn't going to be straight forward - you need to build a small bank of cash which can then go onto fund the bare essential tools you need to invest in, such as domain names and webhosting. There are a number of strategies for doing this whilst you're doing #1.

#4 There is no excuse not to research your market

So many people start their business, create a product and then spend months trying to sell it without ever considering if there's a market for it. With the Google Keyword tool and other tools such as Market Samurai, there is no excuse not to find out about the market place before you start... again making it so much easier to get the business off the ground without funding.

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