You may have the idea and will to make a great startup but money is something that you will need. Without capital, it’s almost impossible to start a business, in this article we will give you some ideas about how you can start your startup with minimum capital.
Reconsider your needs
Your business model is not a god written script and you can change it in time of need. As the matter of fact, your need s may need a little change to overcome capital problem. Try to reduce the needs in order to match it with your capital. Try not to overdo it, some needs are there for good and some can be sacrificed, so prioritize your needs first and then strike the ones you can from your list.
There are expenses that you can’t avoid such as legal fees and you have to allocate a part of your capital to it but for the others, try to see what you can do to reduce them or even turn them into zero.
Grow slowly and steady
You don’t have money but you have ambition so what should you do? Loser will give up but we don’t have any loser in stratupik and that’s why we suggest you to start small. Try to go for a small scale business and grow it steadily in time. It’s like a warmup before the main event. At the beginning start with minimum staff and do whatever you can do all by yourself.
Don’t go for a huge audience and instead of that grow your business from small to large. If you blow a huge amount of air in a balloon, it will burst but if you do it slow and steady then you will grow in the same style. To the point, you can use your earning from small business to expand your current startup.
Outsourcing is always there
Ok let’s get it straight, you don’t have money but is not a common problem for everyone and there are people who have this money. So what you have and they don’t is your idea and what they have and you don’t is capital. Then the equation is simple, you give what you have and vice versa.
First of all try to go for people whom have a great trust in you, friends and family are your best bet here. There is no shame in getting help but don’t overdo it in their case. After that there are rich people who are eager to help others. You can give a part of ownership to them and use their budget to make your startup launch.
Another option for you are venture capitalists, they are almost the same as previous category but they are more organized and might even have a plan that might help you so they may bring money and help in other areas.
Next one in line is crowdfunding. Try to split your need into small portions and get money from a lots of people in return of interest or product itself.
The next category is getting a loan. You can either go for banks or go for government loans. They are basically the same but getting loan from bank may need some previous credit and hence it may be a little tricky.