How To Start A Business With No Money (The Truth)

The biggest misconception that I hear from people who are looking to start a business is that you need to find some kind of money, capital, or sometimes even use your own money to start a business.

For me, that is not as much as a misconception, but an excuse that people use to dismiss the idea of starting a business. They think they don’t have money to start their business. You don’t need money to start. In businesses where you do need money, you do not need your own money. Let me explain exactly what I mean.

Based on coaching hundreds of people and starting on my business, I have learned that if you are absolutely broke or maybe have a job that is not paying a lot, you can start a business in your spare time that does not require you to invest any money at all.

Right now, the easiest and fastest way to start a business is to become a freelancer. This is not a full on, full-blown business because it is more similar to having a job, but it is already one step closer to a real business.

So how do you become a freelancer if you have no money to invest?

To become a freelancer you need to learn a new skill like copywriting, Facebook ads, or creating websites, funnels, and so on. If you learn these types of skills there is a huge, and growing, market right now that consists of companies who don’t want to hire employees but instead want to hire freelancers because they have more control, they save money, and so on.

What happens is they go onto websites like freelancer.com, UpWork, guru.com, and many others and they look for freelancers, or experts in their field. They have a lot of incentive to hire these freelancers and you have a lot of incentive to become a good freelancer. Even if you have zero skills you can still write or translate, if you know two languages, and you do not need a degree or anything to start from scratch. You can start your business from day one like that.

You can start a business like that and you can get paid quite quickly by being hired as a freelancer. If you want to have some more time you have free up some more time. Maybe you can then outsource some of the work so you are not just doing all the work yourself, but just the sales part. You can turn that freelancing job into an actual business where you are not doing everything because you have staff and employees who are doing all the work for you.

That is one solution and most people don’t know about this which is surprising. The other solution is that you actually do not need your own money to invest into a business. It is very simple, many people who have money invest into companies.

How do you get an investor?

If you want to get an investor you need to convince people that if you take their money you are going to have a high probability and chance of bringing them more money back than they invested in you in a relatively short amount of time. If you can do that with your family and friends and maybe kick starter in the beginning, then you actually started a business without giving a percentage of your company away.

You can go another route to actually pitching real life investors who are really tough on you. Basically, you need to get in front of them and convince them that the money you are taking, they are going to see back, you have done your research, and you have the necessary skills. Maybe you have the skills as a freelancer, maybe you have the skills in jobs, maybe you have built the skills in some other ways by being mentored and so on, but you need to prove to them you have the skills and you can prove to them on paper, with numbers, that you are going to be able to pay them back.

It is actually not that hard in the current economy to get investors. In the current economy there is a lot of money that people are looking to invest into companies and people. That way they have a higher chance that the money will have a positive ROI.

Those are the two main ways you can use to build a company in business that is awesome – even if you have no money right now. I guess that solves the whole money-excuse thing! I don’t blame you by the way, if you are broke right now and you want to start a business. I read a study that says that 70% of Americans don’t have money and are living paycheck to paycheck in the wealthiest country in the world. If you are broke, that is no big deal because a lot of people are also broke.

What business do you want to start?