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February 10, 2012

Start Your Business Without Going Broke

Thinking of starting a business, but unsure of where you will find the cash to open the doors? Here are a few tips on how to launch a business with little to no money out of pocket.

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What’s the Latest Development?

Starting your business without raising millions of venture capital dollars is possible, says career business CEO Selena Cuffe. And knowing how to make your finances work is essential to seizing that moment when you know the market needs a new product or service. Cuffe’s first piece of advice is not to quit your day job. Not yet, at least. Until your business idea is mature enough, working your 9-to-5 can financially support your impromptu expenses and preserve a little peace of mind.

What’s the Big Idea?

There no greater tool for prospective entrepreneurs than the Internet. Online cost comparisons and essential regulation information are readily available. The Internet also puts you in touch with small outsourcing companies that can relieve the burden of business minutia. Finally, Cuffe advises not to fear the kindness of strangers (or friends and family). Whether soliciting an alumni network or taking on volunteers to learn the business, always be looking to expand by word of mouth.

Photo credit: shutterstock.com

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