It’s true that to start and scale any business, you’re going to need more than just extra cash flow. You’ll likely need partners, investors and a solid plan for how you’re going to use your new business funds to grow. But, when you’re just starting out, you start out small. Even better: you can start out as small as you like.
If your plan is to open up a storefront where you sell your hand-crafted wares, you can always start by selling them to friends and family. You can build up a reputation and get initial feedback. Then, you can sell them on a third-party website online. After that, you can move on to hosting your own site and eCommerce store. You get the idea.
Ask yourself what you can do and get for free
It’s easy to come up with a list of obstacles standing in the way of you and launching your business. It’s often harder to come up with a list of opportunities that are right in front of you. If the thought of starting a business with no money scares you, stop and reflect on what you can do without right now.
What’s essential to your business? Do you need the slick, custom-designed website when you’ve only perfected three items for your new online store? Could you do with creating a Facebook page to promote your business locally, instead? Or, would it make more sense for you to post your products for sale on a site like Etsy? Would it make more sense for you to design your own marketing materials on Canva? Could you barter and trade your skills/products/resources with someone else in lieu of payment?
To say there are a lot of free resources on the web is an understatement. Make a list of what you need for your business and then research free alternatives on the web.
Some common ways to cost save are:
- Accounting Software and Bookkeeping: In your first year or two, you may not need both of these things. Consider family or friends, possibly even doing it yourself.
- Business Insurance: You may not need this in the short term if there’s no liability issues in your business, or you don’t have employees. However, it is good to have in the long-run because it will protect your personal assets in case of lawsuits or faulty products.
- Multiple social media accounts and extravagant marketing plans: While you may have outlined a rockstar marketing strategy in your business plan, managing these accounts and ad budget are jobs in themselves. Look at cost effective ways to scale your marketing (SEO, Referral marketing, word-of-mouth) to get some revenue first. Focus on one or two social media accounts that resonate with your potential customers.
It might take time, and perhaps even require you to pick up some extra digital skills to optimize your online business, but you’ll save funds when you need them most.
Once you are ready to start expanding and getting funding, we can help.
Thinking of Starting a New Business?
Now is the time! With our society ready to get back in action (safely), new business concepts are quickly emerging with creative flows for serving the public without the high risk of spreading the virus. Put your innovative business concepts into play, and connect with us to get the funding you need to start your newest venture!
Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!
Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.
Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584