In the evolution of technology development, is it true that starting a business is certainly not strange to you? Based on our experience, Startups Basics has compiled and built a process to start a business with no money. Let’s find out in the article below!
Step 1: Market research and analysis before start a business with no money
What is your product? How competitive is the market when you trade that product? In addition, before starting a business with no money, you need to analyze the market demand for the products you sell. This will help you understand your customers as well as your competitors. Therefore, business people can determine the challenges and opportunities in the market.
Step 2: Find the right supplies to start a business with no money.
Choosing quality supply with a best price is a cornerstone for success in starting a business. Cooperate with 3-5 reputable suppliers in the market that offer reasonable prices. Besides that, you need to pay attention when choosing the delivery partner. That’s how your business makes you profitable.
Bước 3:Choosing marketing and sales channels
Facebook, Zalo, and e-commerce sites… are all practical and convenient sales channels for you to market and promote products/services to customers. However, in the early stages of starting a business, you should not spread out over multiple sales channels. Instead, focus on the platforms your customers love and grow them. This helps you save on human capital endowment and costs when your business does not have much money.
Step 4: Start a bussiness with no money
Dropshipping or online sales collaborators are the most popular ways to sell online for free. You can import available commodities for sale until you have substantial enough capital to start a small business. In facts, many people have found success by using this strategy.
Step 5: Build a online sale website.
When selling online, you should create a sales website. A website not only helps you exhibit items, but it also provides clients with convenience when making online purchases and payments.
Owning a properly designed and visually appealing online sales website allows you to reach more online buyers, boost the efficacy of advertising activities, create brand recognition, and provide better customer service.
Step 6: Use sales management software
You should have an online sales management software to conduct business effectively on sales channels such as Facebook, Zalo, Shopee, and others. It can include features such as automatically creating Livestream orders on Fanpages, auto-reply to customer messages, shipping applications, and inventory management. This can considerably increase earnings and reduce expenditures for your business.
Step 7: Let’s start a business with no money
After finding out the market of the product you intend to sell, choosing a source of quality goods at a suitable price, let’s import enough goods with the expected quantity.
When you start a business with no money, you need to pay more attention to how to sell effectively, increase revenue to make a profit, and take that as revolving capital. If you do not know how to sell effectively, learn from the start-up experiences of previous salespeople!
Conclusion:
We have explored the steps to start a business with no money. Hope this article was useful to you. Wishing you a successful start-up with the best plans.
Read more: What is business fundraising? How to start a success business fundraising?
