How to start a business with little or no money is a common topic of discussion.
Have you been put off from starting a business because of the cost?
I wouldn’t claim you can start a business with no money.
However a business can be set up quickly with little money.
Yes you can boostrap a business opportunity and build a very successful venture.
I will outline some steps you can take to set up your business.
You only have to spend money on the core essentials to get you up and running.
Step #1: Find Your Business Niche
Many people struggle with finding a business niche.
This is more so when there are strong competitors about.
However you can carve out a business by delivering your product or service differently.
If for example you identify a problem with something you use, providing the solution coule be a business opportunity.
Do you have a unique talent, ability or knowledge?
Is there something you are passionate about?
These could be the areas to do more research.
Do a search using Google and see what your competitors are doing.
The 3 major profitable business niches are health, wealth and relationships.
Step #2: Establish Your Business Name
Take time research your business name.
This is particularly so to avoid future legal entanglements.
Keep the name simple.
Do a thorough internet search to check it is not already in use.
This includes checking for trademarks.
Check that the domain name is available.
The “.com” name should be your first if not only choice.
Other options are .net, .org and .biz.
Also check that the names are available on social media though you can use variations here if necessary.
Then register your domain name.
Namecheap is a popular affordable place to get your domain name.
This will cost you less than $10.
Step #3: Build Your Website
A website will help you showcase your business.
However you can start a business without a website.
Sales funnels are a quicker way to get your product or service to the market.
So do not let this step delay launching your business.
A website is like your business home.
You can display information about yourelf and your business.
A blog on your website will help promote your product or service.
A free self-hosted website on WordPress.org is the basis of most websites.
You will need a WordPress Theme and a hosting platform for your website.
There are some free Themes that come with WordPress you could start with.
If you can afford it, the premium themes like Thrive Themes, StudioPress and Astra give you more flexibility especially as your business grows.
The next step is to select a hosting platform like BlueHost and WP Engine.
BlueHost will give you one free domain name with your package.
Connect your website to both Google Analytics and Google Search Console to collect valuable data about your site traffic and performance.
I have a tutorial on how to set up a website on Bluehost here.
Step #4: Build Your Sales Funnel
A sales funnel is the quickest way to sell any product or service.
Most businesses wil probably need a website and sales funnels as they serve different purposes.
If you are on a tight budget, I would recommend getting a sales funnel first.
You can set up and launch a sales funnel in a day.
No coding or tech experience is necessary.
Sales funnels are 54% more effective than websites in convert leads into buying customers
Sales funnels will take your customers through a focused buying process.
This eliminates the distraction inherent in a website.
Upsells and downsells can be added to your offer.
In addition you can hook up an email marketing software to the landing page to collect emails and build your list.
ClickFunnels is probably the best funnel building software.
You can start with the basic plan which costs $97 per month.
You can try ClickFunnels free for 14 days.
Step #5: Set Up Email Marketing Software
Email marketing is absolutely critical to the success of your business.
Most people visiting your landing page or website will not immediately buy from you.
This is one of the major advanatages of a sales funnel.
You can hook up an email marketing software to the landing page.
By offering a lead magnet on the landing page, you can capture email addresses in exchange.
This could be a free or discounted product.
By nurturing your list with an automated sequence of emails they will ome to know and trust you.
Many of them will subesquently purchase from you.
This is the basis of email marketing.
This should be a priority right from the start of any business.
You need to invest in an email autoresponder service.
Many of them like Aweber and ConvertKit, now offer a free plan you can start with.
ActiveCampaign combines powerful automation with a CRM facility.
They all offer free trials during which you can try out any of them.
Step #6: Get A Professional Email
A professional email address is required for communucation.
G Suite will provide you email addresses linked to your company name.
In addition you get facilities for video conferencing, cloud secure storage, business calendar, 24/7 support and data security.
Like most business services, you can try G Suite free for 14 days.
Step #7: Drive Traffic
Your business is now up and running.
If you do nothing, sales will be hard to come by.
You need to attract your dream customers and drive traffic to your business.
Starting your business with little or no money means you have to exhaust free traffic strategies.
Social media is your first choice.
Promote your business on Facebook, Instagram, Twitter , YouTube and TikTok.
A blog is also very valuable to get your business into search engines like Google and Pinterest.
Only consider paid traffic using ads on Google and Facebook if you can afford it or when you start making enough sales with consistent cash flow.
Be aware that ads can be very expensive.
Traffic Secrets book is a good resource to learn about traffic.
Step #8: Get Business Training
As an entrepreneur, the greatest investment you can make is in yourself.
You should be hungry to learn new skills to equip you properly as a business owner.
In addition to your personal development, you will need business, marketing, accounting and management skills.
The 30 Days Summit is a free 3 day virtual training where 30 top entrepreneurs show their strategies for launching a business in 30 days.
You can register for the 30 days Virtual Summit here.
The ClickFunnels free trial to build your sales funnel comes with some free business training called FunnelFlix.
The complete suite of courses and trainings in FunnelFlix are available with ClickFunnels Platinum plan.
For $100, I would recommend the One Funnel Away Challenge.
The One Funnel Away Challenge is an 30-day intensive online training where you will learn business and marketing skills.
Through 3 coaches you will also learn how to lauch your first or next sales funnel and make sales within 30 dayys.
Step #9: Read Marketing Books
Books have always been a great way to learn.
No matter how great your product, service, website or funnel is, you need to attract traffic and make sales.
You need to master marketing skills.
Russell Brunson, the CEO and cofounder of ClickFunnels is regarded as the best internet marketer.
His three marketing books know as the Secrets Trilogy are perhaps the best trio available today.
DotCom Secrets will show you step by step how to use sales funnels in your business.
From Expert Secrets you will learn the day to day strategies to make the most of your knowledge, talents and abilities in building your business.
Traffic Secrets as previously mentioned teaches how to attract your dream customers to your website and funnel.
The books are free but you pay for postage which varies on whether you live in USA or abroad.
They are also available as the Secrets Trilogy hardcover boxed set.
Webinars are another way to learn business and marketing skills.
In the Secrets Funnel Strategy and Funnel Builder Secrets webinars, Russell Brunson reveals the secrets behind the very successful businesses using sales funnels.
The LadyBoss webinar shows how a Kaelin, a newbie female entepreneur, built a multi-million business in 3 years..
She did this with sales funnels, starting with no product and no tech experience.
Final Thoughts
Starting a business has the potential to change not just your life but the lives of others.
Your own business can give you the opportunity to live life on your own terms.
You can leave a 9 – 5 job you do not love and achieve financial independence.
The internet has made it easy to find the resources to start a business.
If you have little or no money, there are several free tools you can start with.
I have listed some affordable core resources that will help you bootstarp and launch your business on a budget.
Entrepreneurs are the lifeblood of the econmomy.
Have you been contemplating starting your own business?
I help this post will give you the nudge you need.
Just DO IT!!
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