If you are thinking about having a startup but you do not have enough capital, here are some simple guidelines to get you started anyway.
Handmade instead of factory made
While making items to sell requires some initial cost for supplies and materials, you can make it back several times more when it is sold. Start selling your handmade products at online places like Etsy, eBay or even over Facebook. Depending on what you are good at making, baking goods, candles, jewellery, quilts, and artwork are great low-cost products to start with as the returns are quite high. If you aren’t good with making physical things with your hands, you can always write an ebook on making those things instead.
Resell or flip items
If you don’t wish to make anything, you can choose to resell products that are made by others. However, you do need to set up an online store and partner with drop-shipping companies if you are looking to sell them online. It’s also a great idea to ‘flip’ old, pre-loved items to resell them online. Other ways to resell include up-cycling trash or furniture pieces that people have thrown away.
Sell services instead of products
If you really have no startup capital at all, forgo selling physical products. Offer services instead. For those of you with degrees in subjects like accounting or graphic design, consider starting your own freelance business. The important thing here is to get the word out about your services – it’s a good idea to promote what you offer on social media or via word-of-mouth.
Barter for the things you need
Granted, some things like setting up a website, buying supplies and renting space all require money. If you really don’t have the means, consider bartering to get what you need. For example, offer up to do graphic design for free to a printing company in return for print services that you are going to use to sell your handmade greeting cards.