How To Start A Business With No Money

You’ve got a great idea for a brand-new business, or you’re tired of the 9-to-5 grind and want to take your success into your own hands. Either way, you’re excited to turn this dream into reality.

But leaving your current job without a backup plan can be a risky thing. Everything you’ve saved is likely going to living expenses not into the business. Grants and business loans can be difficult to obtain and searching for investors is a full-time job on its own.

On the surface, this all seems problematic. But a lack of personal capital shouldn’t stop you from pursuing your dream business. In fact, it’s entirely possible to start and grow a business with almost no personal financial investment whatsoever — if you know what you’re doing.

Here are two key tips on how to start a business with little or no money: Reduce your expenses or increase your available capital from outside sources.

Reduce expenses

Depending on where you live and what business you want to create, your startup expenses will vary greatly. However, according to the SBA, you can start your own business for less than $3,000, and home-based franchises can be started for as little as $1,000. So, what do these startup expenses look like?

• Licenses and permits. Depending on your region, you may need special paperwork to operate.
• Equipment and supplies. Does your business need to buy raw materials or require computers and/or specialized machinery or software?
• Office space. Not every freelancer can work out of their home or a coffee shop. Office space can be a huge expense that includes costs like Internet, utilities, and janitorial services.
• Associations, certifications, subscriptions, memberships, insurance. What publications and affiliations will you subscribe to every month? Do you need to carry insurance or certifications for your work?
• Operating expenses. Think payroll and invoicing, and don’t forget about marketing.
• Legal fees. It is wise to consult a lawyer during your business-development process.
• Employees, freelancers and contractors. If you can’t do it alone, you’ll need people on your payroll.

Utilize low-cost alternatives

While not every business model will require each of these items to launch, there are a few expenses that you won’t be able to avoid. Licensing and operational expenses will inevitably require some spending, but you may be able to adjust your business model to demand fewer needs initially or utilize low-cost alternatives.

• Instead of renting office space, try working from home or if that’s impossible check out shared workspaces from companies like WeWork.
• Spend time researching cheaper sources for supplies or cut out product lines that are too expensive to produce at the outset.
• If you are considering consulting a lawyer during your business-development process, you can find freelance lawyers on Moonlighting or take advantage of online services.
• Marketing your business to new clients can drain time and financial resources quickly. Check out the affordable and comprehensive freelance advertising solution, Boost, and these free marketing resources compiled by our marketing team to get the most out of your marketing dollars. 
• Take advantage of Moonlighting’s free proposal, invoicing, and payments tools so you can start billing and receiving revenue immediately or find experienced bookkeepers on Moonlighting who can help track and manage your accounts setup and ongoing billing.

Increase your available capital

Crowdfund                        

It’s popular for a reason: with a good idea and enough work, you can attract funding for anything. Many sites that help fund businesses through crowdfunding require you to offer a reward, take on debt through peer-to-peer lending, or offer equity lending (receive investments in exchange for shares in your new business). Carefully weigh out what you are willing to do in exchange for raising startup capital. Crowdfunding options more like Moonlighting’s solution through Moon$hot Stories, let you raise funds with only a simple, small flat fee that is only assessed on funds raised.

Crowdfunding success on any platform is tied to the amount of work you put into your business idea before launch and the effort you make to share your crowdfunding campaign.

Sell your services

One way to start a business with little to no startup capital is to sell your services, instead of a physical product. There’s a huge variety of services you can offer, depending on your background and interests. For example, you can offer these services with little equipment or capital investment:

• Mobile auto detailing
• Dog walking or pet sitting
• Fact-checking and research
• Bookkeeping
• Property manager
• Tutoring or coaching
• Blog writing
• Social media management

Because you are selling your services, you will need a branding plan to make sure your name and company get in front of the people who may need the service. Moonlighting is the perfect platform to build your mobile and online presence, promoting your services to people looking for help.

With one or more of these options, you can reduce your personal financial investment to almost nothing. Startup capital is a major hurdle to overcome, but make no mistake — it can be overcome and if you believe in your business dream, nothing can stand in your way!

Members of the editorial and news staff of the USA TODAY Network were not involved in the creation of this content.

How To Start a Home-Based Car Detailing Business

Whether you plan to go it alone or build a team, this book takes you through all phases of setting up and running a thriving home-based car detailing business, from estimating start-up costs to opening your doors. This book includes profiles of professional detailers and business professionals who share valuable insight on owning a business. Learn all about equipping your business, exploring web-based and traditional marketing methods, establishing a solid sales system, and expanding your own home-based car detailing business.


Look for useful charts and worksheets throughout the book, including:

• Vehicle Evaluation Form
• Sales Forecasts and Cash Flow Projections
• Sample Estimate Worksheet Sample Bid and Invoice Client Check-In Form 

 

Click here to buy: How to Start a Home-based Car Detailing Business (Home-Based Business Series) Paperback  

 Renny Doyle – better known as the “Detailer of Air Force One” - is an entrepreneur with a passion for detailing and a knack for the business aspects that go along with it. In his book, How to Start a Home-Based Car Detailing Business, Renny Doyle, without holding back, will give you the low down on what it takes to successfully own and operate a detailing business. Renny Doyle has been a professional detailer for over thirty years and when he’s not detailing world-class automobiles and airplanes, he’s teaching others how to detail with the rigorous training program that he’s developed.

Renny Doyle originally got into the detailing profession by detailing airplanes as a teenager. With his passion for automobiles and his quick ability to learn, Renny turned professional and started detailing planes and automobiles all over the world - including Air Force One, the presidential airplane.

How to Start a Home-Based Car Detailing Business covers:

• Building your business
• Understanding your market
• Creating a detailing menu
• Establishing a solid sales system
• Providing outstanding customer service

In his book, How to Start a Home-Based Car Detailing Business, Renny explores the detailing profession from a business perspective and he does so in greater depth than anyone before him. Renny shares the lessons and experiences that he’s learned throughout the years and provides tips on how you can avoid starting your business off on the wrong foot. How to Start a Home-Based Car Detailing Business even goes over the pros and cons regarding a fixed location versus a mobile set up. With over 200 pages, How to Start a Home-Based Car Detailing Business will give you invaluable tips on how to succeed in the overcrowded field of professional detailing, whether you’re just getting started or if you’re a seasoned professional.

How to Work From Home and Make Money in 2017

Are you tired of struggling just to get by with a paycheck that doesn’t quite stretch far enough? Or are you one of the millions of people who are out of work in an economy gone bad? Maybe you long to be your own boss so you can set your own schedule and choose the path your life will take.

Whatever it is that brought you to this page, you’re obviously looking for answers. The good news is you’ve come to the right place.

I've spent the past 20 years working for myself, and I would never dream of punching another clock or trudging to someone else’s office every day to collect a meager paycheck. That’s because I’ve discovered the secret: when you work for yourself, you’re happier, more productive, and you have unlimited earning potential.

After all, why would you want to work so hard to fund someone else’s dreams?
Working for myself has allowed me to live a lifestyle that many people can only dream about. I have the flexibility to create the life I want, take days off when I need to, and I decide how much money I make by choosing the hours I work.
But don’t be fooled. Working from home at a home-based business isn’t easy. It takes hard work and dedication to build a successful business that makes money.
In my book, I’m pleased to offer you 13 proven, realistic ways to work from home and earn a great income. And I won’t just offer you a brief explanation of each method like some other books do.

In each chapter, I provide you with the information and facts you need to determine if that business is right for you.But I don’t stop there. I’ll also give you important links and resources, so if you decide you want to pursue one of the home-based business ideas listed in this book, you’ll have everything you need to begin.

So, the choice is yours. Will you wake up tomorrow morning and spend your day funding someone else’s dreams, or will you finally take the steps needed to claim your own success?

Why not start right now by buying How to Work From Home and Make Money? It’s one of the most important things you’ll do to begin the process of achieving your own dreams.

Click here to buy: How to Work From Home and Make Money in 2017

The 10 best (and real) work-at-home jobs

Searching for jobs, particularly home-based work, used to be a matter of scanning the Sunday classifieds for offers to get rich quick by stuffing envelopes. Now, working from home is easier than before because exposure to at-home opportunities has multiplied.

A wide variety of job ads are just a click away, but so are the scams.
In 2007, when Rat Race Rebellion -- a company that helps people find home-based work -- began tracking at-home jobs, there were 30 scams for every legitimate opportunity. Now, with 4,500 to 5,000 work-at-home job ads screened weekly, the website finds 60 phonies for every one that's for real.

Nevertheless, there's no shortage of workers who dream of beating the odds and earning a living from home.  those interested in work-at-home jobs primarily are:

• Parents who say they want to spend more time with their children.
• Trailing military spouses who, according to Durst, by virtue of their spouse's career need to pick up and move every few years.
• Retirees needing supplemental income.
• People with disabilities.

It's not easy to be a good parent and simultaneously work well at home, says Durst, because most jobs require blocks of uninterrupted time to complete tasks, and children's schedules are less than predictable. For those who do choose to walk the tightrope between paid work and parenting, consider deadline-oriented work. Durst says it's generally better for those with younger children than schedule-oriented hourly work.
 

An increasing minority" of entry-level workers, are attracted to these jobs. Social introverts make good candidates. They like working with people (but) they like interacting by email and by being on the phone. They dislike working in person with a lot of others, because of meetings and other "time-sucking problems" at an office.

Self-motivation, discipline, job skills and independence are key traits for at-home workers.
 
A growing number of employers appears to believe telecommuting is a good arrangement for them, as well. It cuts overhead costs, allows access to talented workers who may not be available locally, provides off-hours support and helps retain employees. We've seen a real broadening of the audience of both employers and job seekers.

Consider these 10 jobs -- some rather traditional and others unexpected -- for engaging at-home work and good (if competitive) prospects.

1. Virtual assistant

This is a job with much potential, in part because the title description covers many things. "You can fit your offerings to what you know how to do. One can own a virtual assistant business or work from home for a company that makes you available to other employers or clients. HomeWithTheKids.com, for example, currently features several such companies. Small businesses hire virtual assistants to help when they can't justify a permanent employee. The International Virtual Assistants Association, founded in the 1990s, began with 28 members and has grown to more than 600. They charge from $37 for a six-month student membership to $137 per year for a regular member.

2. Medical transcriptionist 

Being a medical transcriptionist is a demanding job, and nearly every company  seeks applicants with experience and/or training from certain schools. The work involves listening to and typing up dictation from doctors -- some of whom have thick accents, slur words, and even "eat, drink, chew gum (and) talk to other people in the room while dictating.  But hearing about medical matters can be interesting, and good transcriptionists are in very high demand. According to the Bureau of Labor Statistics' 2015 data, the median hourly rate for transcriptionists is $17.17.

3. Translator

People with fluency in more than one language translate audio files or documents, not just word for word, but often with cultural differences in mind. "Companies can access home-based translators with hard-to-find language skills without being held back by geographic location.

The U.S. Bureau of Labor Statistics' Occupational Outlook Handbook 2012-13, which groups translators and interpreters, notes a projected employment increase of 29 percent by 2024, much faster than the average for all occupations.

4. Web developer/designer

Information technology is the sector where most of the home-based hiring is being done. Terri Orlowski, a virtual assistant and Web developer based in Pittsburgh, offers services such as custom website design, template modification and redesigns, code updates, hosting and usability reviews. She previously held administrative positions in a variety of industries and makes a higher per-hour rate now. Out of the many new monthly work-from-home job postings on Upwork.com, Web developers are in high demand.

5. Call center representative

When you phone to order something from a catalog or infomercial, a big office with rows of cubicles may come to mind. But the person on the other end of the line is likely to be sitting in a home office. It's a huge and growing industry.  Companies hire independent contractors to take calls from home. The "home-shore movement" started in response to complaints about the many companies that looked offshore for workers.

While some websites such as Sykes Home actually hire representatives, most use subcontractors. Just be aware that the pay may be by the minute rather than by the hour, so you may not be paid for time you spend waiting by the phone. A list of companies that hire call center reps can be found at HomeWithTheKids.com.

6. Tech support specialist

Call centers also hire technical support specialists to work remotely. Kate Lister, co-author of "Undress for Success: The Naked Truth About Making Money at Home," names it as one of her top three "best-bet work-at-home jobs." And according to the Occupational Outlook Handbook, jobs for computer support specialists (on-site and remote combined) were expected to increase by 12 percent from 2014 to 2024 -- faster than the average for all occupations -- with 88,800 new jobs.

7. Travel agent

Scams abound in the travel industry -- particularly organizations that charge for information on how to break into the field. But operating a home-based travel agency can be an excellent business, says Tom Ogg, founder of HomeBasedTravelAgent.com. "Real home-based travel agents have experienced robust growth over the last decade, and there are probably 40,000-plus of them and growing." A growing (although small) number of people earn $100,000 or more a year, he says. "A solid business concept and plan focused on profitability will take you a long way to achieving your monetary goals." There's also the joy of helping others enjoy their leisure time.

8. Teacher

From postsecondary education to elementary schools, there are opportunities for students to learn virtually. Along with that comes opportunities to teach (and tutor) virtually. While distance learning is not new, advanced technology, collaborative multimedia software designed for schools and high-speed Internet connections have created more opportunities for teachers and students to work together from afar.

We have heard of one professor who works mainly online and makes six figures -- although this type of income depends on how many hours of applying oneself to it and the type of classes you're teaching. A resource center for online teaching jobs can be found at GetEducated.com.

9. Writer/editor

Yes, the print publishing industry has been suffering, but we are seeing frequent listings these days for writing, editing and proofreading, particularly for the internet. Even those without writing experience can join the blogosphere. Not only can blogging be lots of fun, but also there's money to be earned blogging for someone else's site, getting paid to post on your own blog or through revenue-sharing arrangements.

10. Franchise owner

It's a no-brainer: Owning a business can be the road to at-home work. For an initial investment, franchises may offer a ready-made business with brand awareness, a system and a territory, says Leslie Truex, founder of the website WorkAtHomeSuccess.com. Her advice: Consider businesses that target the over-50 crowd or the self-employed, involve health and wellness, relate to the "green" movement, or involve electronic or online devices (i.e., accessories, applications).

Home-Based Business Series Book Series (Book 1)

How to Start a Home-Based Professional Organizing Business simply and comprehensively educates the reader on how to turn a passion for clean closets and labeled bins into a profitable business. Professional Organizer Dawn Noble shows budding entrepreneurs how to establish their business and begin taking clients immediately. The book’s focus is on achieving profitability, and covers business plans, record keeping, and legal issues as well as the creative side of the business.

 

 Click here to buy Home-Based Business Series Book Series (Book 1)