Nowadays, more and more people are getting excited to launch their own startups. Unfortunately, most of them will never start. Others will start, but when they face the first challenges, they will give up. Third will start working, and if they do not raise money within 6 months, they will close their operations. After all, only few will make it, and when we ask the rest of the entrepreneurs why they give up so early or even without trying, most of them will answer that the main problem is lack of money. In order to provoke you, this article contains proven tactics on how to start with 0 cash.
Actually, we see a big trend that more and more startuppers are focused on funding rather than developing a valuable product/service that people/businesses will use and pay for it or product-market-fit. It is a pity because it just shows that startuppers are not so passionate about solving a problem and serving the customer rather than getting money and putting a CEO title.
Money is just a tool that can help entrepreneurs achieve results quickly, but it never guarantees success. Usually, more money a startup has, the bigger chance of failure. It is paradoxical, but when a startup has money, the team just starts focusing more on the product and marketing instead of product-market-fit and customers.
That’s why you should keep in mind that money is just a tool. Getting funding is a starting point, not a goal. Once the money is in the bank account, the team has to distribute it very wisely. Usually, startup teams spend money on operations, marketing and equipment. So check out how to get these resources without having any money.
1. Find partners
Do you need to hire developers? Find an IT company that will deliver the product in best manner, just for shares.
Do you need marketing? Find a communication agency that will prepare, manage and invest in the campaign.
In other words, sell your idea to company owners, make them believe in the project and give them a small share in the startup.
2. Hire interns for free or people on commission
Everyone wants to work with top professionals. Bust startups usually cannot afford this. So just hire interns to help you with the work and give you crazy ideas. You can also hire people on commission or on performance. All MLM companies work this way.
3. Rent resources instead of buying them.
You are a startup, you do not know if you are going to exist within 1 month. So why do you want to invest in equipment or an office etc. Just borrow everything and pay less until you generate revenue.
4. Make pre-sales
The best way to raise money is by selling something. Making pre-sales of your product/service not only gives you validation, but also gives you wings to fly and negotiate better conditions with investors.
In conclusion, startuppers pursue investors in order to get money and spend it on product/services. Why don’t you just try to get these resources directly without spending money, selling shares or making pre-sales contracts?
