How to start a business with no money?

Discussion in 'Starting a Business' started by elrulz, Jun 26, 2014.

  1. elrulz

    elrulz
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    Hi, i am a young entrepreneur with no experience except selling domain names. I want to start up a website that focuses on fitness that's similar to youtube; it focuses on the average joe and gives good rankings to the higher level athletes.But i have no money, well i do but it's for college and i have no job i got this from selling domain names because no one would hire me so how would i approach this what would i need for this website? how can i get investors? and what do i need to watch out for?
    note: I am 19 and still looking for a job but till then i need help figuring out how to do this. I need investors because even if i do make money from my job it's going to go towards my family because my mom is sick and my brother is handicap so this is why i need investors.
     
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  2. Mark Robinson

    Mark Robinson
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    You can find investors by research on internet and also on ads as some people always looking for business ideas. You can also do it through social media. You can create a Facebook page and present your business ideas. Good luck
     
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  3. Joseph.Shivell

    Joseph.Shivell
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    First, you said you have "no experience except selling domain names". To me, this basically means you have no experience, period. Selling domain names is nothing but buying expired domain names, then setting up a website to sell them to any schmuck that doesn't know any better. You also say no one would hire you? Why not? What kind of jobs were you looking for, and what do you have to offer the company you want to hire you?
    Why do you you want to set up a website that focuses on fitness? Do you have enough knowledge about fitness to design this type of website, or instruct someone on what you are looking for? Do you have what it takes to compete with YouTube? What kind of audience are you looking for? How do you intend to find them?
    I apologize if this seems a little harsh, but investors are going to look for one thing - what's in this for me? You need to be able to show them that you know what you are doing, and they are not just throwing money away. Before investing, they want to know that your business is going to be around for a while. You need to write up a business plan that will show them you are serious about making this business successful, and unfortunately, telling them about your sick mother and handicapped brother is not going to do it. How do you write this business plan? You need to take the initiative to find the answer to that question, and the other questions you asked, yourself. You're only 19, so you have a lot learn about business. It's not about people giving you money, and then you set up a website and wait for the money to roll in. It's about having the knowledge and dedication to do whatever it takes to make sure your business is a success.
     
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  4. nasifabg

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    I am in absolute agreement with joeroxx's views on this.....Things have become really tough and no industry or business has been spared from facing challenges to reap profits and make business functioning smoothly and successfully...!!! Thanks!!
     
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  5. elrulz

    elrulz
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    I should have explained better. I have experience for a job 1 year to be exact for data entry but people are just not hiring currently, i apply at about 10 jobs a day got a few offers but from scams and company that don't pay also they want you on a non paid contract for a while. Trust me i don't have the best body in the world but i am 5ft6 weigh about 129 pounds currently still losing weight i use to weigh about 185 pounds so as you can tell i was fat as heck but i now have a seven pack still earning the last ab i lost the weight in about a year but to be honest i wasn't keeping track i'm estimating. i don't have what it takes to compete with youtube not yet, but i can still use them for my site because i did it with my other one that i sold for 700 dollars but only pocketed 400 because of web hosting i had it for a long time. Currently i am trying to learn more css which is coding for html. I only talked about my family because i don't want rude comments just straight to the point answers but really thank you, yours is straight to the point. My target audience is everyone sick people, disabled people, old people, and young people it will discuss safety protocol and improvements to their exercise and its unique because it's going to rate people and only high rated people with experience can talk not people with no experience they are rated by everyone cause usually people are honest when it comes to pictures. If this site is connected to youtube along with my facebook they will come to my site or so i'm hoping. Thanks i am young but people like you that help people like me understand business will help me go a long way, for as long as i have dedication. Do you think i should write a letter to John Paul Dejoria because i did the research and found where he lives but he doesn't have a email, I already contacted Mark Cuban waiting for a response. I am not looking for investments but their opinion, because i feel if its good enough and i present it well enough it will pay for itself(I am going to make a product currently so this will also go in my savings with my domain selling income and help pay for this idea). But do you think it's good enough or have any recommendations? i'm going to do it anyway but always love to improve the concept and listen to people because people matter. I contacted Mark Cuban because he lives in Dallas and i am in Texas i'm targeting everyone in my area. Thanks i really appreciate your time because i learned time is valuable that's why i'm learning early because time is money.
     
  6. ABM House

    ABM House
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    As you lack experience, first gain some experience by working with some guy, work even for free as you learn from him. Once you gain experience, you can start business, there are certain businesses which do not require much investment! you can choose such!
     
  7. Connie

    Connie
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    HTML5 and CSS are essential if you want to build website. But that's far more for you to learn, from accounting, marketing to basic quantiative analysis for business. At least you need to understand the customer needs, depict clearly the way of creating value for them, and define your revenue model.

    And there is a book called 'The Other 8 Hours' (I don't know the exact name again), there is a few hints and I think you should abide by one of them - Have a full-time job and steady income when (during) you are starting your own business. Why? You can easily think of it. Besides, you are still young. If you can't find good jobs, I would suggest even working in McDonald's you will learn something like efficiency, operations systems and team work. And perhaps you get some friends and potential business partner.
     
  8. MilesWeb

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    After reading the ongoing discussion, I think if you would like to start some online business with no investment, then you could consider free hosting. But I do not vouch for this kind of business because you will have to make some initial investment in order to take your business ahead. By initial investment, I mean the domain name, the web hosting package, the design of your business etc.
     
  9. allcitycleaning

    allcitycleaning
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    You need to pay to play. That means either your time and energy or money. Some things can only come from money and not your labor. Determine what you can do on your own and what must be bought. Do as much as you can yourself. Work even if it is odd jobs here and there to accumulate money for your business. Your business will start very slowly but that is ok. You will learn and adjust as you go. Just realize that this approach is great but you have to stick with it for a long time. You are not going to find investors at this stage so just forget out that....unless you have friends that believe highly in you.

    Julia
     
  10. afia_kamran

    afia_kamran
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    Hi elrulz,

    That's great that you're so concerned about your family and you want to achieve your goals with so much passion. You have to keep trying, but it's your fate that will decide the right time for you. You can take loan from someone close and start on a small scale and then repay him with interest. Because if you go for banks then you'll have to submit some property in place which is not a good option for you right. Just put in your best. All the best.
     
  11. Chris_Tax

    Chris_Tax
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    I started my business without any money. I provide a servive. I do incomes taxes for locals. I first paid my dues by working for Liberty Tax services for 4 years. I do my tax returns part time out of my house. Best advise I can offer is start part time.
     
  12. alastairbrian

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    You have to get extra knowledge and experience in the I.T n Software field. Buying and selling domain can't be counted in experience. Please don't mind that without this thing, u can't win the trust of investors.
     
  13. Aleena

    Aleena
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    Hi
    I would like to suggest you few important points. It's good that you are earning some money by selling domains. Since you need money fast and you are a student I believe you first complete your studies but if you really want to start a business with your studies then start some local business. As local business always got attention.
    -volunteer business could be a good idea you can offer your services and ask some friend of yours or anyone trust worthy in your local community to help you with your work in return offering them some profit etc. It would be a good thing if someone would like your idea and want to invest in your business.
    -start a local coffee shop as food business are good to start.
    -Also you can work as a freelancer on website like odesk, freelancers, elance.
    -You can also earn very good when you have college vocations start a driving job it also pays good money especially cargo, truck driving etc.
    -Internet business require lots of efforts and take time there is no way you can succeed instantly on internet with your blog or website as these take lots of hard work and the website and blogs that we see these days which are highly paid is just not that easy first of all its a team work and without which it's not easy to start earning from a website/blog within weeks or months but it takes years.
    I hope that helps
     
  14. AlphaSirius

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    Now days online marketing is in boom, so promote your business on social media sites which is free and you can easily grab your customer. Note that this is a slow process.
     
  15. Aleena

    Aleena
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    I absolutely agree that website ideas needs lots of attention and it's a slow procedure even if you want to promote it, it takes lots of time. That's why I mentioned in the above comment. :)
     
  16. MikePeterson

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    First of all you have to know you are interested in which type of business, then think which business you can start with no money. Follow these steps, it may helpful for you.
    Keep your current job.
    Design a business plan.
    Do a competitive analysis.
    Research and test your ideas.
    Find opportunities to build skills cheaply.
    Make the most of your existing assets.
    Streamline your staffing plans.
    Ask friends and/or family for a loan.
    Secure an official small business loan.
    Get the word out.
     
  17. Joe Dalio

    Joe Dalio
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    If you want to go the free online route, I recommend affiliate marketing. The "price" you pay is time and effort. If you don't have your own product you can promote someone else's and get a commission. You may want to research this further. As you become successful, more options open up for you. As an additional idea, you may want to check sites like Elance to get some odd jobs for some additional income and experience.
     
  18. andybrown

    andybrown
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    I advised you first get complete knowledge of the field in which you want to start business. Because with limited knowledge you and your business will suffers a lot. When you think that you get sufficient knowledge of a specific field. Then find venture capitalist these are the ones who are ready to invest in new ventures.
     

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