How to Start a Company with $100
Starting a company is difficult—it's easy to get overwhelmed by the process and scared off by the money. But it doesn't have to be that way. With some creativity and resourcefulness, you can start a company with very little cash. In fact, I've started several companies using only $100 as seed capital. Here's how!
Choose a business model.
You can also use a business model to describe the entire value chain of your company. For example, if you're selling diapers online and want to know who will buy them and what they'll pay for them, you can start by thinking about how much it costs us to make each diaper. Then we need to figure out how many people are interested in buying diapers (the customer base). Once we have those two numbers, we multiply them together and voila! We have our revenue per unit:
We can then use this information as part of our overall analysis on whether or not this is a viable business idea worth pursuing further.
Establish your brand.
Next, you'll want to establish your brand. This includes choosing a name that's easy to remember, unique and easy to spell and pronounce. You also want it to have good branding potential so people can associate it with what they do or sell.
Here are some things I recommend when choosing a name:
Use common English words (no fancy Latin or Greek). For example, instead of "Bubblegum" try "Bubble Gum."
Stay away from numbers in the company name if possible (like 1st Choice Insurance Agency). It makes them harder for consumers who don't know about your business easily remember which one is yours when there are multiple companies with similar names out there!
Build your product or service.
Once you've figured out what problem you're going to solve, it's time to build your product or service. You can skip this step if you have an idea that's already been built by someone else and is ready for sale (for example, "buying and selling cars online").
When building your product or service:
Make sure people want it - If people don't want what you're building, they won't buy it--no matter how good the idea is! It's important that your early adopters are excited about using whatever new thing they will be able to do because of your product or service. You need positive feedback from users while still being able to build them at low costs (i.e., no money). This means finding ways around traditional funding sources like raising capital from investors or getting grants from government agencies by demonstrating why there would be value created by doing so--which may require making some assumptions about how much value will actually be created down the line once all those assumptions play out accordingto plan...
Hire freelancers to get more done faster.
Hire freelancers to get more done faster.
Freelancers are cheaper than employees and can be found on sites like Upwork, Fiverr and Freelancer.com. If you're not sure what your company needs in terms of a freelancer, do some research first: look at the top companies in your industry and see what kind of work they're outsourcing or hiring out for by looking through their job listings page (or even sending them an email asking if they'll share their experiences with hiring freelancers).
Launch and promote the business.
After you've created a business plan, it's time to launch and promote the business. This can be done through several different channels:
A website
Social media presence (Facebook, Instagram, Twitter)
Email marketing (i.e., sending out newsletters)
You should also consider paid advertising on Facebook and Google AdWords if you have the funds available.
You don't have to have a lot of money to start a business.
You don't have to have a lot of money to start a business. In fact, there are many entrepreneurs who have started businesses with just $100 or less! You can do it too.
Here's how:
Find something you love doing and turn it into a business idea. For example, if you love baking cakes and selling them at farmer's markets or on social media platforms like Instagram or Facebook, then maybe this is the right time for you to start your own cake-making company! Or maybe you're really good at making jewelry from recycled materials--in which case, why not try selling those pieces online? If neither sounds like something that would interest someone else enough for them buy from me (and pay me), then maybe finding another passion would be better suited for my skillset since I know what kind of work I'm capable of doing well based on past experiences working with similar projects before now."
Conclusion
If you follow these steps and use the right tools, you can start a company with $100 or less. The key is to make sure that you have enough money to cover the costs of starting up, including website hosting fees and domain registration fees if needed. You should also consider investing in some basic business supplies like pens, notebooks and sticky notes so that when inspiration strikes, it doesn't go unnoticed!
