Starting a Business with little Capital
Everyone has their opinions and advice for starting a business, the problem is most of the advice out there tells you how to start a business with a capital investment or loan.. but when we started Chosen we didn’t want either.. we wanted to follow the same path that 37 Signals traveled by “getting real” with development and work-flow and then finding ways to have your money work for you rather than surviving on income alone. So we did just that.. with little capital and a lot of heart we dove into this business head first. So far we’re still breathing.
Starting a business without Capital Investment
It’s easy to say that it can be done, but it’s a whole different story to actually execute. Like I mentioned before, take notes from the Getting Real plan. Start your business by moonlight.. don’t quit your day job and jump right in (of course we’re hypocrites saying this because we jumped in, but I wish we had moonlighted first). Either negotiate with your employer to work part-time for a while or start your business at nights.. that way you have the income still to support your bills, but you can start planning and developing your business. Begin networking with other businesses in your field and going to seminars on weekends, because one of the greatest tools in starting a business is connections.
Along with the moonlighting, establish a budget. You may not know all of the costs to operate your business, and you may not be able to prepare for every road block or pitfall. What you can do, however, is give yourself a cushion. Depending on your liabilities (bills), you may want anywhere from $5,000 to $20,000 saved up before you quit you job and go full-time as a business.
[podcast format="video"]http://thinkclay.com/wp-content/uploads/2009/07/business-sense-with-a-few-cents-desktop.m4v[/podcast]
About our Web Company
This post is based on our opinions and testimonials with starting our Web Company. Thinkclay is a blog by Clayton McIlrath based out of Lansing, MI. You can find more us by searching: Lansing Web, Powered by WordPress and Graphic Design Portfolio
