Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

5 Ways To Start A Business Without Capital

by John Cerasani, author of “Paid Training

With little help from a seemingly stagnant unemployment rate and recent graduates flooding an already meek job market, job seekers are left with little to no hope for securing stable positions. However, the returning trend of “Mom and Pop” businesses has given many job seekers a way to control their own fate, even without having the start-up capital.

Here are some tips on how to start a business without money in the bank:

1. Partner Up.

Determine your business’s niche or specialty and develop a partnership with an already existing company that your business can compliment. For example, a graphic/web designer can align itself with a marketing company to enhance packages for potential marketing clients.

2. Outsource.

If working with tangible products, a start-up can eliminate the need for capital by outsourcing their products on a per-use basis. A company can wait until their product is purchased and then use that money to then manufacture the product.

3. Offer A Service.

A great way to start a business without any cash flow is to open a service-oriented company. Consultants and brokers have little need for office space and even less need for manufacturing products, leaving them with a company based solely on their expertise.

4. Angel Investors.

Sift through your network looking for financial backers who can help start your business. These investing enthusiasts tend to have a love for promising small business ideas and can often help an entrepreneur get on his/her feet.

5. Group Funding.

Group funding websites such as Kickstarter and Chipin.com have made themselves quite valuable in today’s “Mom and Pop” market. With a short profile video describing your business idea and fun perks for potential donors, entrepreneurs have a platform to raise funds without giving up control or percentages of their business.

 

John Cerasani, a Chicago area native and Northwestern University alum, is an entrepreneurial success through a number of business endeavors. Cerasani’s founding and subsequent success of Northwest Comprehensive, Inc. serves as the motivation in inspiring him to create the message of Paid Training. Paid Training is ideal for anyone who ever considered becoming a business owner as well as anyone who is ready to be open-minded enough to understand the pitfalls of working for someone else in the long term.

 


This is an article contributed to Young Upstarts and published or republished here with permission. All rights of this work belong to the authors named in the article above.

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