8 Ways to Start your Business with No Money

Do you dream of starting your own business, but lack the funds? Do you have an idea that if you were given the chance you know it would work? If you’re like most aspiring entrepreneurs you are never short of ideas, but finding the money to finance your idea, well that’s a different story.

It would be great if every idea was pitched like the next Silicon Valley savior and venture capitalists where lining up at the door to shower you with you millions. However, for most entrepreneurs it takes dedication and creative ideas just to scrape up the funds to begin.

In every city there are success stories of entrepreneurs who have persevered even when funding was a challenge. For example, in my community one of the fastest growing restaurants was started by two brothers who took a loan on their house and within two years have already opened a successful second location. The bottom line is if you have drive you’ll find money.

While many of these options involve great risk, for the entrepreneur risk and passion is usually the driving force. Here are a few options you may consider.

Funding Options:

  1. Borrow against your home
  2. Borrow from friends and family
  3. Borrow from your retirement fund
  4. Cash out your savings
  5. Get a line of credit
  6. Lower your expenses
  7. Use your credit cards
  8. Work a side job to raise funds

If you’ve started your own business, what ways have you used to fund your business?

image by: Dawn M. Armfield 

  • My partner and I decided to go and have a new music label in Mexico who would support independent artists called Expansión Tolteca. We had about 8000 dollars at the beginning and we have been able to cope with expenses working from my house (which is more of an office right now) and having free employees…

    yes! free!

    Many people don’t realize that the music industry is quite hard to get aboard, so giving people a chance and paying them for results before actually hiring them has kept our payroll down to a minimum and our employees appreciate working with us, beause they earned their keep.

    Also, the Internet is a very big money saver….

  • Investors are always looking for good places to deposit their capital. You’ve totally ignored looking for investors in your list of eight. Some of these guys only give $5000, others may go much higher up to $50,000. Bottom line is – if your idea will earn a positive return and you can prove it’ll do so – then the smartest of investors will invest in you.

  • Eddie Castañeda: music industry is a pain! I hope photography does not go that way, the way od commodity. But it already on the way a little

  • awison

    very poor !!!!!!!!!!!!!