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Im Broke!!!! Can I Start My Business On A Budget?

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Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by Jae on Fri May 28, 2010 5:20 pm

jddcn6 wrote:Yes, it can be done. You just need to learn how to leverage your time and be strategic in your marketing efforts so you get the most value for your time. There are plenty of free marketing strategies out there such as forum marketing, article marketing, social media marketing, etc. It's just a matter of finding out what form of marketing that you would be best at and most comfortable with and just go for it. Once you start having a little success, you can take that money and invest it back into your business to make your business grow a lot faster.



True Indeed!

Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by jddcn6 on Wed May 19, 2010 10:43 pm

Yes, it can be done. You just need to learn how to leverage your time and be strategic in your marketing efforts so you get the most value for your time. There are plenty of free marketing strategies out there such as forum marketing, article marketing, social media marketing, etc. It's just a matter of finding out what form of marketing that you would be best at and most comfortable with and just go for it. Once you start having a little success, you can take that money and invest it back into your business to make your business grow a lot faster.

Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by vikkilawson on Wed May 19, 2010 8:36 am

Yes, you can start your business on a budget. Find a mentorship program that is FREE. They will show you the ropes on adverstising, marketing that are effective and are free. So, search out a great Mentor and let the take you under their wing! You will SOAR!

Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by klmarketing on Wed May 19, 2010 3:31 am

You can start a business now with zero budget. There are programs that lets you try their business for free and then there is the emergence of social media. But later, you still need some money to keep your business going.

Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by Jae on Wed May 19, 2010 3:25 am

Barter Trader wrote:You don't need start up capital but you neeed to have a retainer while you build your business. It is no good borrowing money every week to get by but in a lot of circumstance it is just the way it is at that point in time for individuals.

My advice is to research your product and believe it good for everyone and is what you want to do. You must own that responsibilty of committing to the task ahead.



Thanks Terry!!! True Indeed ;)

Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by Jae on Tue May 11, 2010 8:05 pm

vikkilawson wrote:Find a free mentoring program that offers training on advertising, marketing techinques that are very effective and FREE. Also make sure your mentoring program is free with no strings attached!



I agree!!! Use the free marketing tools to learn and gain your level of skill...So many sites to choose from..Just Google them...Check out forums Also!! ;)
Thanks for your input!

Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by Jae on Tue May 11, 2010 7:57 pm

RichardBravo wrote:.

Wow, this is an oldie but a goodie.

There's absolutely no doubt in my mind that you can MAKE MONEY without spending money.
I know ... I've done it. And we're not just talking pennies. I'm talking about matching the average monthly income within the span of a few days.

But there is a trade off ... as the old saying goes "Nothing's FREE."
And it's true.

Where you save in money, you usually pay with time ...
at least in the sense of this conversation.

There's also "inexpensive" options for building your business. Just because it isn't free doesn't mean we shouldn't consider the options just because we're "building on a budget." you'd be surprised what can be accomplished with a monthly budget of couple hundred dollars.

But yes, you can absolutely bootstrap a business. This is obviously a string option for people getting started that just don't have the cash. I know, I've been there too.

I think one of the most important aspects of going with free methods though is to not get stuck there, in that mindset. While it may be the easiest or most logical way to get going in many cases, it can also be a very dangerous place to dwell for too long.

At some point, to really go big and build a viable business with long term sustainability you're going to have to bite the bullet and throw down some cash to take it to the next level. This could be for paid services, employees, outsourcing of many types, etc.

You also have to consider the velocity of any given strategy.
Free may be "inexpensive" but it is typically slow in comparison with something like PPC (pay per click). Free usually has a lower risk threshold as well, but again, the return on investment may not be realized as quickly as you could see with a media buy or a well placed ad in a newsletter or high traffic blog.

So I say learn these techniques. Collect a good selection of strategies in your marketing toolbox. Use them. Put the free methods to use while you learn all the little nuances of internet marketing; they're great for earning your stripes without much financial consequence.

And as your business begins to produce revenue, get some of that money back into the business and begin exploring paid channels. Even if you choose to utilize free methods long term, now you know how to do it right and now that you have revenue you have the process outsourced on a mass scale, all the while freeing up your time to focus on more important aspects of your business ... like networking and brand exposure.
.
.




Hello Rich...I know made this post in 2009...But its still the perfect topic to speak on!!!
its trail and error and a learning process...I Totally Agree! ;)

Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by vikkilawson on Tue May 11, 2010 7:32 pm

Find a free mentoring program that offers training on advertising, marketing techinques that are very effective and FREE. Also make sure your mentoring program is free with no strings attached!

Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by RichardBravo on Tue May 11, 2010 4:29 pm

.

Wow, this is an oldie but a goodie.

There's absolutely no doubt in my mind that you can MAKE MONEY without spending money.
I know ... I've done it. And we're not just talking pennies. I'm talking about matching the average monthly income within the span of a few days.

But there is a trade off ... as the old saying goes "Nothing's FREE."
And it's true.

Where you save in money, you usually pay with time ...
at least in the sense of this conversation.

There's also "inexpensive" options for building your business. Just because it isn't free doesn't mean we shouldn't consider the options just because we're "building on a budget." you'd be surprised what can be accomplished with a monthly budget of couple hundred dollars.

But yes, you can absolutely bootstrap a business. This is obviously a string option for people getting started that just don't have the cash. I know, I've been there too.

I think one of the most important aspects of going with free methods though is to not get stuck there, in that mindset. While it may be the easiest or most logical way to get going in many cases, it can also be a very dangerous place to dwell for too long.

At some point, to really go big and build a viable business with long term sustainability you're going to have to bite the bullet and throw down some cash to take it to the next level. This could be for paid services, employees, outsourcing of many types, etc.

You also have to consider the velocity of any given strategy.
Free may be "inexpensive" but it is typically slow in comparison with something like PPC (pay per click). Free usually has a lower risk threshold as well, but again, the return on investment may not be realized as quickly as you could see with a media buy or a well placed ad in a newsletter or high traffic blog.

So I say learn these techniques. Collect a good selection of strategies in your marketing toolbox. Use them. Put the free methods to use while you learn all the little nuances of internet marketing; they're great for earning your stripes without much financial consequence.

And as your business begins to produce revenue, get some of that money back into the business and begin exploring paid channels. Even if you choose to utilize free methods long term, now you know how to do it right and now that you have revenue you have the process outsourced on a mass scale, all the while freeing up your time to focus on more important aspects of your business ... like networking and brand exposure.
.
.

Re: Im Broke!!!! Can I Start My Business On A Budget?

Post by Barter Trader on Tue May 11, 2010 2:58 pm

You don't need start up capital but you neeed to have a retainer while you build your business. It is no good borrowing money every week to get by but in a lot of circumstance it is just the way it is at that point in time for individuals.

My advice is to research your product and believe it good for everyone and is what you want to do. You must own that responsibilty of committing to the task ahead.

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