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How To Start Ecommerce Business With No Money
When starting a business, finding a good idea is half the battle. The other half is funded.
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A great business idea with zero capital doesn’t mean your entrepreneurial journey is over. There are many ways to start a business without money. In most cases, all you need is an entrepreneurial mindset: patience, hard work, creativity and a willingness to try new things.
This guide shares how to bootstrap your own business with little cash. The goal? You can then reinvest in growth later to start making money.
From validating your idea to earning your first dollar, here’s a blueprint for starting a business with no money.
The first step in starting a business is to develop an idea. If you’re not sure what that is, here are six creative business ideas you can start with no money.
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The easiest way to start a business without money is to sell your services. Even if you’re not an expert in a particular field, being better than the average person means you know how to start a business that helps them. So, start by looking at the things you know how to do better than most people. Such skill set package in service:
Since you don’t have capital yet, start with things like the experience, knowledge, skills and resources you own. These are the best investments you can make when you get $0. Kei Nishida, owner of the Japanese Green Tea Company.
Don’t rule out a service business if you don’t have particularly strong skills. Your time is valuable; Busy people often pay someone else an hourly fee to do things they don’t want to do (or don’t have time for). It includes the following functions:
Many entrepreneurs write down these small business ideas because they fear making minimum wage. But service-based businesses are profitable. Some freelance writers make six figures a year within two years of running their business. Even a window cleaner hits the $250,000 mark in 12 months.
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Dropshipping is a popular business model for entrepreneurs looking to start a small business with no money. Create an online store and choose a dropshipping supplier like DSers or AliExpress. When an order is placed, your ecommerce platform forwards the order information to your supplier. Their job is to take, pack and ship the order to your customer.
As a master’s degree student, I didn’t really have much disposable income, so I decided to learn how to dropship. I decided to dropship on a whim because it’s not often talked about dropshipping on your own store or Amazon. Zaid Shahit, Founder of FightHaus
The best part about dropshipping is that you can start with a small budget. Instead of buying inventory before selling it and storing those items in an expensive warehouse, sellers only charge for the inventory when you sell it. Start with a 3-day free trial and then $5 per month with a starter plan.
The global market for personal products is estimated at $38 billion. If you don’t have the upfront cash to invest in inventory with a print-on-demand business, take advantage of the opportunity.
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Print-on-demand is the process of private-labeling products (such as tote bags, t-shirts, or caps) and selling them on a per-order basis. Suppliers like Printful will print your designs in inventory, ship them to the client, and charge you for their service after you receive payment from your client.
We started with a print-on-demand service, bringing the initial operational investment to $0. Essentially, we are just a proof of concept website. Catherine Liebert, co-founder of #muhoove
Like dropshipping, there are minimal costs to start this type of business, as you only pay for the inventory when the customer orders it. There are also no storage costs for using the print-on-demand model, making it a worthwhile option if you’re looking to start a business with $0.
Prefer a more hands-on approach to starting a small business? Turn your hobby into a side hustle by selling handmade items through your online store or marketplaces like Etsy. This may include:
How To Start An Ecommerce Business With No Money
We started in the garage, bought powders from websites and got mixing jars everywhere. Our first sample was dispensed by hand with powder in Ziploc bags and funnels. Carl Starkey, founder of AWSM Sass
Katrina Bell is an entrepreneur who followed this approach when she started a business with no money. Now the owner of The Copper Bell, Katrina chose to sell candles because they “do not involve much practice, require no government oversight and regulation, and can easily be made in larger and larger batches.”
What initially started as a fun side hustle eventually became Katrina’s full-time job after being laid off at the start of the pandemic. “I decided to push my business online soon after that and after a few months of full-time work I saw huge growth,” she says. “Sales really took off in the fall of 2020 and I now operate the business from a commercial production location rather than from my home.”
Bonus: Package your handmade items in a subscription box to earn extra cash when you’re just starting out. The steady income you get from repeat orders can be reinvested in new inventory products, giving you startup capital without outside funding.
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Most of our profits are reinvested in inventory and advertising. We are trying to develop at a healthy pace so that we do not have to rely on external investment. François Mathieu, co-founder of Hojicha Co.
Digital products you can create and sell with an Internet connection, making them a great way to start an online business with no money.
Start by identifying an area where you have more knowledge than the average person. So, do some online research to see what problems people struggle with in the space. Package your solution into a digital product, for example:
The beauty of digital products is that they are scalable. Create them once and sell them many times using a digital download app. No wonder so many entrepreneurs are using digital products to generate passive income.
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The term “influencer” has taken on a life of its own over the past decade. More people than ever are making money through social media. It takes patience, social media savvy, and interesting content to share—three things that can be done for free.
Start by building your social media presence on popular platforms like Instagram or TikTok. But don’t go into the hard sell just yet. Followers can monetize when they know, like and believe what you have to say.
Entrepreneurs use this route to raise cash for a manufacturing-based business. YouTuber Emma Chamberlain, for example, started posting videos on YouTube in 2017. Just two years later he launched his first direct-to-consumer business, Chamberlain Coffee, to appeal to his audience.
A business plan is a blueprint of how you plan to grow your business. Your ingredients depend on the low-cost business model you choose. But generally, it includes:
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Need help with your writing? Here’s a free business plan template to help you get started, complete with examples.
The next step in starting a business is choosing a name. It should be attractive, recognizable and most importantly, not already taken. Use this free business name generator to get inspired if you’re stuck.
Remember: the name you choose will serve you for the life of the business. Make sure it’s something you like and can see scaling with.
The process of starting a business from scratch is so far free. It’s possible to continue the $0 route, it’s a smart investment you can make in an online store. Your website is a virtual home for your new business – you can use it to educate potential customers about the products or services you sell.
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If you’re really tight on cash, starter plans are only $5 a month after a free 3-day trial. It’s a small price to pay for a sleek, professional website that will help you make your first sale.
Starting a business with nothing is trial and error. Some ideas succeed; Others may not be as popular as you first thought. Reduce risk by testing your idea with pre-orders.
Pre-orders are made by borrowing money for goods you have not yet produced. It gives you cash up front to invest in the product, builds hype and creates a sense of exclusivity. People buy the opportunity to try something new in front of an audience.
Remy Martin is an entrepreneur who follows this approach. After coming up with the idea for Natural Girl Wigs while working full-time, Remy decided to create an Instagram page.
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