They rent an office or retail location, pay big incorporation fees, hire employees, and build an expensive website (just to name a few). And all before they’ve earned their first dollar! Each month their cash reserves get lower and lower while they struggle to make sales to cover their expenses. Eventually the fledgling business dies with no cash flow, leaving the owner hurt emotionally and financially. Luckily, it is possible (and actually quite simple) to start up a business without spending a dime. The beauty of using this method is that you can test out a new business idea quickly and with zero risk. And instead of spending time negotiating leases or dealing with employees, you can spend 100% of your time on the most important thing: making that first sale! The first thing you’ve got to do is get past the idea of spending. Work out of your home or Starbucks on nights and weekends. Instead of hiring employees just get started with what you can do yourself, or ask friends for help. Don’t incorporate just yet, be a sole proprietorship. Don’t hire an expensive graphic artist to make your logo, stick with something simple…you get the idea. You can spend money on all that stuff once you are bringing in revenue! Now to actually get started, here are 10 steps you can use to launch a new business, without spending a dime. The first five are logistical. The last five are all free ways to market your business (after all, the most important step is bringing in that first sale!) Using this simple format you can launch a new business in about a month, and hopefully make your first sale. But the best part is, even if it doesn’t work, you’ve learned a priceless lesson and risked little or no money. Don’t spend a single red cent that isn’t absolutely required when launching a new business! See if your idea works first, and then spend AFTER you’ve made your first sale! Brian Armstrong is the author of Breaking Free, which shows how to quit your job and start your first business! You can download three FREE chapters of the book and sign up for his FREE online course
