Do you ever dream of starting your own business,
be your own boss,
to work completely on your own terms
without getting stuck in a 9-5 routine job that will never satisfy both
your vision and identity?
Ha… Let me Guess….
The first thing that comes into your head about starting a business, is how you can make it happen with only $50 dollars in your pocket?
Am I Correct?
Before I carry on, let me tell you the truth
9 out of 10 businesses fail in the first 5 years even if they are well funded,
and the last business that survived,
might fail in the next 5 years.
Most entrepreneurs started out with a big dream getting all Hyped Up
but forgot about the most important fundamental reality check.
Let me put this in a hypothetical way.
Starting a business from scratch is like travelling from the middle of Texas to Beijing, with nothing but bare feet and a bottle of water.
Will it still be possible to reach China? Well, the answer is YES.
But 95% chances you will end up DEAD due to dehydration before you even reach the Texas border.
This scenario is exactly the same as starting a business from the very bottom without money.
If you really want to succeed in online business with no money, the you need to know these proven strategies and real life experiences.
THE PROVEN STRATEGIES TO BUILD AN ONLINE BUSINESS WITHOUT MONEY
In order to start an online business without money, you need 3 most important points that will give you a survival chance and perhaps thrive to succeed beyond imagination.
1. Learn How to Sell
In business, cash is king. Just like drinking water.
We need to have endless continuous supply in order to survive the entire business journey,
which we call Cash Flow.
Unless you are Bruce Wayne or Tony Stark,
there is no other way to get a continuous good cash flow other than “Selling”.
Every successful CEO, entrepreneur and business owner is a great salesman. Regardless if its door to door sales or writing an online sales copy, selling is the ultimate cure to all businesses, as mentioned by Shark Tank Billionaire Mark Cuban.
When you are a fresh graduate from college with no money or income, what is the first thing you do?
We attend job interviews, that is selling ourselves!!
It doesn’t matter if you are a startup, serial or general entrepreneur,
If you do not sell, then it will be the end of your business regardless how great your product or idea is.
Basically if you want your business to survive with very little to no money, you have to fall in love with sales, which leads to the next point:
2. The Correct Mindset
Really? Another mindset theory?
Yup, but bare with me for a moment.
I am not going to talk about “leaving your comfort zone” or “do not settle down for mediocre” kind of B.S.
because it is a very weak reason for anyone to fall in love with sales and continue to PUSH ON when things gets REALLY tough.
As Robert Kiyosaki once said, it’s not about the “How” but rather is the “Why” that gives the ultimate energy to go above and beyond.
So how are you going to excel if your “why” reason isn’t strong enough?
One of the biggest traps that start up entrepreneurs and new venture business owners falls into is by asking these few questions:
“How do I start a business with no money?”
“How to make my first $10,000, or first million?”
“How do I get crowdfunding for investors to fund my business?”
See the problem? It’s about ME ME ME.
Placing “ME” above anyone else will eventually drive us to force customers to PAY for products they might not want.
That’s exactly the WRONG Mindset.
It’s NEVER about you.
No one cares (or gives a sh*t) about your awesome product if it doesn’t create any value to your prospects.
Instead, you need to be in the shoes of your customer, and think how you can Solve Their Problem or make their life better, more satisfaction, more excitement and more valuable.
Sales is not about “What you have DONE to someone”
“What you DID FOR or WITH someone ”.
If you can change your mindset that sales is = putting yourself out there and offer solutions to your customers FIRST before asking for payment, then you will start seeing your business flood with torrential sales and customers that you can possibly handle.
You can’t make money, it’s illegal.
Money has to be earned, which is given by someone else.
As real entrepreneurs, we have to work our asses off to satisfy our customers to a point that they get addicted and couldn’t resist the value that we offer, and continue asking for more.
Once we get that mindset right, then that leads to the final point:
3. The FREE Strategies
Once you have set your mindset right and started to gain interest in selling,
then the next step is to roll up your sleeve and get the boat rolling!!
–> Here are 4 strategies on how to start your business for FREE:
a) Get a Job.
Wait a minute WTF?
There must be a mistake here.
Isn’t this post about how to build a business?
OK, Let’s get REAL.
You do not have time or money on your side, nor the luxury to go all out without worrying about basic survival needs.
Even if you do not have family to feed, taking money from parents or borrowing from others to fake your business success isn’t going to get you anywhere.
You Need INCOME.
I’ve seen friends and even myself deep both feet into the water to bring a startup to life and only ended up drowning ourselves with disappointment and despair.
Because we are all dreaming of being the next “Mark Zuckerberg” that started a billion dollar company from the University dorm…..so as millions of young entrepreneurs out there.
Only to find out that “ It’s Not As Simple As It seems”
Even Mark started out using university facilities during early times of thefacebook.com to launch a preliminary success,
before meeting Sean Parker and taking it to the next level.
As a responsible entrepreneur sharing ideas here, it’s best to take a job that is highly related to your business, so that you may learn and grow in parallel while building your online empire.
If in any attempt, your business screws up or requires to pivot, at least you have a job to fall back into and start again.
It’s never going to be easy but it’s definitely possible.
b) Start From Home
Since you are paying your monthly utility bills why not setup up a company where you live without adding more unnecessary cost to the business budget.
Either transform an empty room or garage into an office, you will have the advantage to use your money for things that are more important.
c) Find a Business Partner (With Warning)
Taking on a business as a side hustle while working in a 9-5 job can be
One way to share the workload,cost and risk is to find a business partner.
The best business partner would be someone that you have worked together before, which both parties can compensate each other’s strength and weaknesses.
Learn which type of business partner suits you.
However not everybody is suitable to be your business partner, ESPECIALLY
Those who are close related to you or friends.
I have lost good friends during a startup due to some disputes, as we need to hurt each other’s feelings for the sake of the company.
Just to share a little extra, smart investors never like to fund couples because incidents may happen that put the entire business at stop, if you know what i mean.
This can be exempted if couples and friends had worked together before in a company or successfully delivered a project.
In fact they could be the best business partner.
d) Getting your first 50 Customers Online
If you want to get your first 50 customers without burning all your hard earn money on ads, then you should have these questions below in your mind already:
– Who is my ideal Customer?
– What is the pain that my ideal customers are going through?
– Where to reach my ideal audience/customer?
– Which is the best online advertising platform?
– How do I convince that my product or services is going to work for them?
Now, let me share some online strategies that allows you to enter your ideal customers mind and sell like crazy
# 1st, Create your ideal buyer’s person
You need to imagine and visualize what is your ideal customer look like, in detail.
Not just the gender, age or occupation, but the type of behaviour that reminds you of someone you know, could it resemble one of your family or friends?
Now give this person a name, and congratulations!!
You have found your ideal customer, now remember it.
#2nd, Imagine how is their life looks like
8.30am – Driving to work, stuck in a jam
9.30am – Arrive at the office
9.45am – Sipping a morning coffee while chatting with colleagues
10.00am – Check and reply emails
11.00am – Meeting with team
12.00pm – Having lunch at cafeteria
1.00pm – Getting into work task, project planning, chasing vendors etc
4.00pm – Another meeting with clients to update project status
5.00pm – Finalize quarterly year report
6.00pm – Drive home, stuck in jam watch netflix
You might be thinking:
Why the hell are we digging into this person’s daily life routine……
These are the details that will make your sales message more personalize, and gives you the extra advantage to find common ground that your prospects can relate and agree with you.
It is so much easier to build trust when your audience starts to agree with what you are saying, they will appreciate you for taking the time to understand all the good and ‘shitty’ moments in their life.
#3rd, Identify their frustration, pain, hopes and desire
Identify your dream clients biggest problems, the frustration that gets their nerves every single time, the pain and worries that gave them sleepless nights…..
Next, work out the ideal solution that your dream buyer wishes to have,
the irresistible desire they crave for,
the small little things they wish to come true.
Once you nail these criteria, then you will be able to write the most persuasive sales copy that converts.
Remember to reveal the ultimate truth and the deep inner desire that your prospects have, the one that gives you a little goosebumps even when you say it….
Just like this blog asking you to get a job when the title was about starting a business with no money.
The truth may sometimes hurts but it’s our responsibility as an entrepreneurs to be assertively right about what works and what doesn’t.
Just Like Gary Vee here.
#4th, Craft your Unique Selling Point (USP)
I always stumble across this “One size fits all” mistake people make when doing an online sales pitch.
We always assume that if you create a brilliant answer to the most common questions,
then the audience will get triggered to buy without hesitation.
THAAAATS!!! BIG MISTAKE IN 2020!!
Stop thinking about heading for the most common problems your prospects are facing, and SHOTGUN all your way through!!
This no longer works because there are already hundreds of strong established competitors out there loaded with cash fighting against each other in the red ocean.
Understand your situation that “Go big or Go Home” doesn’t work in your favor, at least not yet.
(Do not forget that you are new, with limited funds)
Instead, we need to laser focus towards leads that don’t buy from your strong competitors, or people who are not 100% satisfied with the product they buy.
No matter how great the product is, there will always be flaws, room of improvement or weaknesses exist.
These are the great areas to be addressed and we can start building personas based on their unsatisfactory.
For example, i came across a wifi extender on amazon that has 7500 over
ratings with 70% five star reviews,
but the remaining 30% are complaining that
the product doesn’t really provide a good connection for customers who has
lower than 100mbit !!
Boom, there’s a problem unsolved.
Let’s say you are planning to sell and create a similar product, make sure to
resolve one of these issues and make them your Unique Selling Point.
#5th, Sell, Market, Sell, Market….Develop Your Sales Process
You see, marketing is like dating. We do not ask prospects to marry you on first sight.
Therefore, you need a process to gain audience trust, get them to be interested in your free offers, help them to get some initial results and then convert them into actual customers.
Thanks to the advanced online algorithm we no longer need to pay hefty price to advertise and promote.
Traffic is no longer free but we can get a better quality audience, the type of audience that has a high chance of being interested with what you are selling.
Facebook, Instagram, Google Ads & Youtube have changed their game plan, in order to reach your targeted audience, you need to pay to play.
–> Click here to get your FREE online course on how to dominate facebook ads.
Well it will definitely require a lot of grit and grind to start a business from scratch, and all these strategies can only ease your struggle and give you a head start but doesn’t guarantee any success.
–> If you need FREE help or advice on how to grow your online business, subscribe to digitalqlicks weekly newsletter HERE.
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