Here’s How to Start A Business for $100
February 1, 2013
I remember the days of starting my own business like it was just yesterday.
No money, no budget, no idea of what you are getting yourself into, just a huge desire to build something that matters and make an impact.
When you make that decision to start a business or a project, it can be the most exciting thing you’ve ever done, and also the most daunting.
If you’re about to take the plunge then I congratulate you on embarking on the most rewarding journey of your life. And I sure hope you like rollercoaster rides, because that’s what you’re about to experience for at least the next two years.
If you’re just about to start out, this is key stage for you to consider what matters most, and where to spend your lack of available dollars, to get the most bang for your buck.
Invest In Your Future Now
Well at least that’s what I recommend you do. There is a common trend I’ve seen among entrepreneurs, to scrimp and save from the get go.
And while I totally understand that mentality (been there, done that), I’ve learned the only way to build a successful business, is to keep on investing in it, even when you don’t think you can afford to.
The money you put into looking more professional than you may feel, and presenting yourself as if you’re bigger and better than you really are, will pay you back in dividends, trust me.
That may sound contrary to a lot of advice you’ll receive, but hear me out. You have to treat your business as the success you’d like it to become, from the very beginning. Take yourself seriously and keep your eye on your grand vision, always.
This means great design, branding and communication to clearly state your USP – unique special proposition. This is hard to do initially as you’re finding your way, but remember `done is better than perfect’. So just ship and then you can continually tweak and improve along the way.
Where to best spend your first dollars
The great news is there are plenty of services these days that let you build a business for next to nothing so you need to take advantage of them.
If you were handed $100 today to start a business, here’s how I recommend you invest that money:
No need to break the bank is there? Obviously your biggest investment here is in learning the ropes. You will need to take the time to understand the psychology of online marketing, selling and influence.
Invest In You
The best investment you will ever make is in yourself. In up-skilling, mentoring, coaching and learning to become the best at what you do.
You’ll have to set aside time to learn how best to engage and market your brand through social media, and how to become a better blogger to gain more credibility and drive leads and referrals.
It would pay to know which online tools other entrepreneurs love to use, and then to try them out yourself to streamline your business and save you time and money.
All of this knowledge and implementation can be taken one step at a time, and it will seem less overwhelming, if you keep your eye focused on your immediate short term goals that are taking you one step closer to your long term vision.
Spend Your $100 Change Wisely
If you want to get a head start, then can I suggest you check out the $100 Change Program, a digitally delivered eCourse to get you to take action today.
I’ve gathered over 100 change makers, including FreshBooks co-founder and CEO Mike McDerment, who are successful entrepreneurs, published authors, leaders in their field, renowned speakers and incredible people, to deliver their insight, wisdom and advice.
This is delivered via 100 daily email prompts over 100 days designed to give you a blueprint for taking action including daily success rituals, overcoming fear to allow you to do your best work, staying focused on your vision, keeping momentum on a project and developing a killer mindset, to name a few.
about the author
This is a guest post for the FreshBooks blog. FreshBooks is the #1 accounting software in the cloud designed to make billing painless for small businesses and their teams. Today, over 10 million small businesses use FreshBooks to effortlessly send professional looking invoices, organize expenses and track their billable time.