1. Start from Home.
With Apple and Facebook leading the pack, almost all small business owners begin by working from home. A garage, an extra room, attic, basement, even laundry room is converted into an office. Obviously, working from home saves you from paying extra rent – money which could be used in other business expansion ways.
You absolutely should not rent office space – except if your business needs it for retail business. If you have to meet with clients in the flesh, there are corporate offices which can be rented on a daily or monthly basis. These offices usually have other products and services attached which can be advantageous.
Furthermore, your home office can run just fine with a computer or laptop, phone, internet connection and desk.
2. Start Cheap.
One of the core ways to begin anything when you’re cash-strapped as an entrepreneur is to learn business frugality. A lot of rookie entrepreneurs believe that starting a business means spending lots of money.
In essence, you mustn’t start perfectly. Hence, all you need is to start. Get the required things and get on with business. Remember, perfection doesn’t bring in sales, starting and staying on course does.
3. Maximize Free Advertising.
You don’t have to break an arm and a leg to get your business to your targeted audience. Quite the opposite, you can do it for absolutely free of charge – no small thanks to technology. From website creation to client relationship software to documents compilation software, you can easily access tons of free resources to help your business.
As a start-up, social media is a powerful and pocket friendly tool for putting your business in the faces of millions of potential clients.
The use of networks like Facebook, Twitter and Instagram not only promotes your business, but also networks you with other similar users and groups who can positively influence your business.
In the deluge of ads online, however, you have to doubly ensure yours stands out to get the customers’ attention.
Apart from the use of the internet and social media, you can create sales by partnering with non-profits or charities to build awareness of your business. Even though it would entail freely giving away your product or service, it is still a way to gain free advertising without paying a dime.
4. Leveraging Trade-By-Barter
As a start-up, one great way to get the needed services and products for your business without cash is by bartering – exchanging your goods and services for those of another business.
You can use companies that specialize in handling such deals, but you can also barter with other small, up-coming businesses. These ones too are looking to cut costs and minimize cash spending.