You might have dreamt about your big entrepreneur passion but chances are, it wasn’t accompanied by a lump of startup capital. Having cash flow problem for startups is not a new thing. But guys, you don’t always need money to make more money. In the beginning, all that is required is creativity and some smart steps, luxury can, of course, come later with the time. In this article, we will talk about some wise steps to get your ball rolling on shoestring budget.
Your website promotes you 24/7 even when you sleep, eat or watch movies! So if you are dead serious about making your passion, you must have a website. For those, who are not much aware of coding skills, don’t worry guys! You can create your own website without paying any absurd prices using CMS like wordpress.org, shopify.com and many more. All that you have to do is to see some basic tutorials and you are good to go. Make sure to keep the website minimal and simple. Also, it should match your brand message.
Now that the website part is done, you need to decorate it with the right content. Content is king and it will always remain so. But content writers are not cheap either! So get your creative juices flowing guys, and I am sure you can write creative content for your website including home page, contact us page, etc. Later on, when you have decent profit by your side, you can definitely invest in some high-quality content.
Never be too big to DIY. From childhood, I used to love DIY and this hobby is especially helpful when you are on tight budget and want to create something of your own. For eg, Accenture paid $100 million to get its logo designed, but can you really afford that during your struggling period? I won’t. I prepared my first logo for free using Canva’s Online Logo Design Tool.
Looks cool, doesn’t it? Similarly, there are many cheap solutions using which can simplify your work to a huge extent. What I am suggesting is guys, your expenses are many. If you want to keep going, you need to prioritize things. Getting yourself involved in DIY will not only save bucks but will bring freshness too.
Yes, that luxury office in the downtown looks appealing and can be yours one day. But not today! Did you know Hewlett-Packard organization was started in a car garage by William Redington Hewlett and David Packard? So don’t fret guys if that downtown office cannot be yours now, you can build amazing working conditions without these luxuries too. Just pick one room in your home and with a little bit of creativity, you can easily turn it into your working space. Once you have the desired budget in hand, you can start looking for affordable co-working spaces in your town but for starting, this is a big NO.
Being an entrepreneur means wearing multiple hats. But with your hands in so many places at once, using a little bit of outside help makes sense. Think hiring full-time employees is costly? Not if you outsource wisely. Instead of jumping towards a full-time team on board, try freelancers. There are various websites such as Fiverr, Upwork from where you can get your work done at cheap rates. But before finalizing any freelancer, make sure to check out ratings, reviews and testimonials to get an idea of his/her reputation.
Lastly, you can definitely make your dream come true by finding right investors. And the best part, you don’t need to pay any interest. But without a solid business plan and some profit share, you won’t be able to seek out investor. The first step here is to make a solid business plan that can communicate your message to your investor. Without a solid plan in your hand, you will end up looking nothing but stupid. So guys, start working now!
Bonus tip: Network like a pro! The key to making your business grow is to get out of your comfort zone. Meet new people! Network, network and network a lot until you have some solid connections in your circle. You will be surprised to know how much you can save with the right network by your side.
Having cash flow problems is not a big deal for startups but if you are smart enough, this capital shortage problem will soon become the fond memory that you can share with others as “Started from the bottom” story! Just keep working smartly!