6 Tips for Creating a Business Without Startup Capital

There is a saying that you need to have money to make money. There are situations where that applies, but you should not allow that idea to prevent you from launching a business without capital. Here are six ways to launch without capital:

Do It Yourself

When you are first starting out, do all low-skill work, like cleaning the office, yourself. Do not hire out anything unless it is absolutely necessary. Furthermore, try your hand at any skilled work, such as graphic design of your first business cards—little things like that won't destroy the business if it is imperfect.

Get It For Free

Look for free ways to get things done, whether that means free apps, free trials, and free online services or creative promotions in place of buying advertising. Instead of thinking in terms of solutions you can purchase, think in terms of things that need to happen and then go looking for free options. Instead of thinking in terms of buying advertising, think in terms of how to get the word out for free. Some free ways to get the word out include word of mouth and social media.

Barter

For critical skilled work or other essentials that you simply cannot do yourself nor manage to somehow get for free, see if can barter for what you need. Offer your time, skills, expertise, products or services in exchange for what you need.

Keep It Cheap

When free is not available and you start putting business expenses on a credit card, make judicious choices that will keep debts to a minimum. A fledgling business probably does not need the slickest, most expensive business cards around—less expensive, practical business cards will do.

Get Help For Free

Look up your local Chamber of Commerce. A startup consultant with an online Master's of Business Administration degree says they will often offer free classes for local businesses. Contact the Small Business Administration. Look for business incubators and other sources of support that just want more businesses to succeed and bolster the economy.

Bootstrap It

A business that is making a small profit can grow by investing that profit into growing the business. This is called bootstrapping. If you have paying customers, you can grow slowly by reinvesting any profits in the business.

With or without capital, it takes hard work, guts and determination to grow a business. Don't let a lack of capital stop you from venturing into the world of entrepreneurship.