Fuelled by the desire to start a business, frustration can soon set in when big ideas require sizable financial investments. Does every business idea require such an investment? No. Let’s start by giving away the answer – you can set up a business with no money. How to keep a business running with no money is another topic, but let’s explore some ways you can easily set up a business with no investment.
Free Business Ideas
Some business ideas require substantial investments that are unrealistic. Take a restaurant, for example. It would be inconceivable to start a restaurant without financial support. Surely, every business requires some sort of financial support, right? Wrong. Because of the advancements in e-commerce and the digital world, it is now easier than ever to start a business without a financial investment. In comes dropshipping. Dropshipping is revolutionary, allowing people to sell products without first buying them.
How does dropshipping work? Dropshipping is a specific procurement method in retail where you never physically have the products you display on your website, but you sell them.Â
How? First, decide on the product you want to sell — whether it’s clothing, fitness equipment, or food — and connect with a third-party supplier that stocks the items. Legitimate suppliers are easy to find online. The third-party supplier will ship the product to you upon purchase of a product through your website, and you then deliver it to the customer. Some third-party suppliers will send them directly. There is no upfront cost for you, and thanks to free website templates — something we will discuss further along — there’s no upfront cost at all.
Need another one? Blogging was one of the first business models the internet unearthed, giving people the chance to post daily musings, product reviews, advice, and so much more. Blogs are free to create and easy to run. Most people use WordPress to publish informative and creative blog posts, which can lead to paid collaborations. Take TechCrunch, for example. What started as a hobby turned into a business that sold for $25 million. Check out this link to learn more about setting up and monetizing a blog.
Free Website Templates
The backbone of any successful business is a beautifully crafted website; displaying product and service information, contact information, and a bit about the company. A recent study found 2.14 billion people worldwide purchase goods online, and 63% of all purchases begin online. Ensuring your business is online is a big deal – and it helps that most website templates are free.
As your business grows, you may want to use a website developer to design a more complex website with personalized features. However, a free website template will serve you well to begin with. They are designed to be easy to use, with step-by-step guidance on how to turn the template into a fully functioning website that generates income. YouTube tutorials and webinars provide a more in-depth guide if you are a complete website-building novice.
Whether it is a blog or a business website, there are billions of examples on the internet, literally. Draw inspiration from professional and creative websites and blogs, and use free website template tools to bring ideas to life.
Free Marketing Methods
Even marketing can be free. Thanks to social media, it is now easier than ever to market a product or a service without pricey marketing fees. Instagram and Facebook are the two primary social media platforms to market a business from, but the likes of LinkedIn also prove effective for marketing and networking.
Facebook and Instagram have made it easier than ever to use their platforms for marketing if you set up a business account. Facebook, in particular, is geared up to help businesses market their brand. Features such as post boosts encourage more brand engagement and visibility. Still, it goes without saying that as your business grows, you will have to invest in other marketing methods, such as SEO and PPC. In the beginning, however, using free social media marketing methods will suffice.
Free Events and Courses
Free webinars and even education courses are proof that you don’t even need to pay for a degree to know how to start a business. Webinars, in particular, are great for accessing free business advice from the comfort of your home. They provide you with a chance to learn sales techniques, marketing tactics, and how to sell a product or service. Google free business webinars, courses, and conferences, and there will be options to choose from.
So, there you have it. You can start a business with no financial investment. Granted, soon after establishing a business, you will have to invest money to grow a business idea. It is, however, exciting to know you can start a business without having to scramble to find the funds.
Also Read: Strategies for Struggling Businesses Emerging from the Pandemic
