Step-by-step guide to start your own business with zero money

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A representational image of a group discussing their business plan. — Unsplash
A representational image of a group discussing their business plan. — Unsplash

The idea of starting a business often conjures up images of big venture profits and beautiful offices. However, not every successful business begins with a tonne of money. 

Many of today’s iconic brands started in garages, Forbes reported.

Entrepreneurship, at its core, is about vision, innovation, and resourcefulness. A true entrepreneur will take a great idea and get it moving on a small budget.

Here are some steps to follow when starting your business with no money or a tiny budget.

Market research:

One of the most important steps in starting a business is coming up with a business idea that your target market will find appealing.

Ask questions and get feedback from people who are close to you as you begin your market research. Learn as much as you can about the market you wish to enter by doing internet research.

Test the water

Every idea seems great, but what makes it work is how sellable it is.

Test the waters of your new product by offering it to a small group of people first. Another way is to offer it at a discounted rate for early adopters and see if they buy it and what reviews they give.

Create a business plan

A business map is like a road map that outlines your business goals and how you plan to achieve them. It’s a key document to show future investors or lenders.

Build a website

Whether you’re selling a product or offering a service, you need a place to do business. In today’s digital age, you don’t have to physically buy a shop to do business; rather, you can do it online too.

To build a website, you don’t need to pay an agency to build an expensive website for you. You can do it yourself, free of charge.

Market your business

The key to a business thriving these days is its social media presence; the bigger the presence, the larger the client base. You can market it on Instagram, TikTok, and Facebook, among others.

Keep your expenses at a minimum:

Some ways to do this include using free or inexpensive software, negotiating prices with suppliers, and waiting for sales to start investing in paid tools.

Be your own sales team:

In the early stages of your business, you are your most significant asset. Network your product with your social circle and get the word out about your business.

Prioritise clients:

In the beginning, customer service and retention should be your biggest focus. Happy customers will automatically bring in more customers.

Get testimonials and advertise them in your community.

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