Low on cash? Start a business!

Admittedly, opening a new business when you’ve barely got enough money to keep your apartment lit doesn’t sound like a great idea. But what if you’re a family of one with little to risk? What if you’ve prepared yourself by evaluating the market, writing a business plan and developing a marketing strategy? Most importantly, what if you believe beyond a doubt that your business will succeed? Why not give it a shot?

And who ever said that all startups require a six-figure investment, especially these days? Certainly not the entrepreneurs here.

In this unpredictable and limitless age of digital commerce, the allure of online entrepreneurism in particular has never been stronger. Startups are launched quickly, frequently, and often on meager budgets.

Let’s hear from you business owners. What did your budget look like when you first opened? What advice would you give to someone with immeasurable passion but limited resources?

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13 comments Add your comment

Been There

June 10th, 2010
3:04 pm

I hear new restaurant start ups have about a 10% success rate. Maybe that one would be good to steer away from…You know?

CEO

June 10th, 2010
3:07 pm

FIRST!!!

The most important rule of business, “If you fail to plan, then you are truly planning to fail.”

atlshirt.com

June 10th, 2010
3:09 pm

It is very tough these days to start a business.. I started my business last year when things were really bad in the economy… You have to find something that you are passionate about, in order for you business to succeed..My passion is sports, so I am selling clothing and sporting tickets to every team in the USA..

My business went 9 months before it made its first dollar. I was constantly building websites after website with no interest from customers, then I partnered with some bigger business, and started advertising any way I could, and right now, I am not making very much money, about $300.00 a month with my small internet business, but if you calculate the percent of increase on the business income, I have to say that even I am impressed with myself..

It can be done, you just need a lot of patience, and keep working harder than you have ever worked in order to achieve your goal…

Been There

June 10th, 2010
3:09 pm

Hey Cleo, how about There is no I in team.

Business Owner

June 10th, 2010
3:39 pm

Well, I’m trying my hardest to keep my head above water and you want my advice? By the way,this seems like a bizzarre blog topic in this economic climate I must say.

Tom G.

June 10th, 2010
4:09 pm

I’ve got a motel I’ll sell cheap.

Knicky

June 11th, 2010
3:46 am

Iam in the process of setting up my own online business, it is such a learning journey I am really enjoying it. Have a go… if it doesn’t work get on with it and do something else. How boring would life be if you didnt try different things?

Cynthia

June 12th, 2010
11:13 am

I have been unemployed for so long, this is just what I have been thinking about. I have lots of ideas and just need to work hard to get them off the ground. Great blog and very timely!

Norlan

June 12th, 2010
12:51 pm

Enter your comments here

HTC

June 14th, 2010
3:19 pm

very bad idea… I started a business 4 years ago and to be honest it’s a though climate out there. most people don’t have what it takes to successfully run a business during good times much less these and to be successful. You need CAPITAL since everything cost money. if you don’t have $20,000-30,000 to lose, don’t try.

adam

June 14th, 2010
6:06 pm

start a computer repair business in this climate. i say go for it because that is what i am starting up. here is the thing…first you dont have to sink a ton of money into it. Freelance your work to start. people are not shelling out the big dollars right now to buy nice fancy computers….they are going to keep what the got. why not learn as much as you can to troubleshoot problems that occur on a ongoing basis…don’t get yourself bogged into learning the electrical parts of it. Learn the basics from speed of computers to getting rid of viruses. guys and girls you can do it cheap and charge something like 20 bucks for the estimate and 20 pr hour if they want you to fix it. i say computer repair is the way to go!!!!

Unstoppable Family

June 25th, 2010
7:50 pm

“Dream as if you’ll live forever, live as if you’ll die today.”
Your blog is awesome was just doing google search and found you. I will most defrss you so I can stay up with your new posts. Hope all is well with you and keeping posting as often as you can. Me and my family are currently on 3 year trip around the world. We have had a lot of crazy adventures and now on month 18. Come check us out

Unstoppable Family
Brian and Rhonda Swan

JOHN GENOSKI

July 1st, 2010
9:50 pm