If you have a burning business idea but you feel stuck because you’re strapped for cash, don’t stress. There are many ways that you can build a business with no money or very little money. Trust me, I’ve done it before.
What are you already good at?? Think of this in a creative way…I can almost guarantee that you’re really, really good at things that you don’t think are important. Or, they’re in our blindspots because we forget that people outside our circle don’t have access to this knowledge. Sometimes we don’t even realize how helpful our skillsets are to others because they come so naturally to us. This is really true for many moms I have worked with, who for whatever reason, deeply undervalue their homemaking, their meal preps, their intricate schedules, their creative ideas, their everyday genius zones… because they are SO immersed in their own world, they can’t fathom how difficult many of these things are to others. I have had moms say to me how they don’t feel like they’re talented at anything – after we’ve had length conversations about how they effortlessly cook a dozen meals a week on a tight budget and minimal time. One of the best ways to see what your skillset blind spots are is to ask people in your life what THEY see in you and what they would come to you for help with.
In my opinion, it’s a lot easier to build a business around a service when you’re strapped for cash. However, if your product is cheap for you to make and you can add a significant markup for retail, then go for it!
It’s incredible how many brilliant free resources there are on the internet these days. Pinterest, Youtube, Instagram, blogs… for anything I haven’t known how to do in my personal life or my business, I have ALWAYS started with a google search. Trust me… there’s a resource for pretty much everything online. You usually have to pay to dig deeper and get the full story, but it’s a great start to download the freebies or watch tutorials online. Having said that, this google search concept takes me to the most important point on this topic…
It is CRITICAL!!!!!! to speak to a SPECIFIC person with your offer… whether it’s a product or business. Here’s the scoop: you simply can’t be everything to everyone. You have to get the street cred for people to take your advice on multiple subjects… so you can’t start there. It’s really important that you solve one specific problem for one specific person with your one epic solution. Not only does this make marketing WAY easier for you, it helps you stand out no matter how noisy and overcrowded your industry is. It helps you SHINE because you are being selective about who you work with/for, and how you solve their problem. You do NOT need to be everything to everyone… that would be a burden that I would never wish on you or anyone. It’s simply too much pressure and an impossible promise to make. Pick a small niche within the industry you choose, and stay FOCUSED on one person, one problem, one solution.
Please, please, please… before you invest too much time, energy, resources, money into your product or service, you must TEST it to make sure it is something your niche wants and will actually pay for. There are many ways that you can do this:
- Start with a small sample and sell online to see how it does
- Run a beta launch and refine it based on feedback
- Crowdfund from your ideal clients to make sure it’s a solution they’re willing to back
- Talk to dozens of your ideal clients and hear from them directly what they want before you create your service/product and then once it’s created offer it to these people first for money to prove they’re willing to pay for it [money is the best validator that your business is valuable to your community]
- Sell it before you make it [courses, retreats, workshops etc]
UTILIZE FREE PLATFORMS + SEO
We are so lucky to live in a world where we have free stages to get in front of potentially millions and millions of people. Never before in history, have we been able to film ourselves on our own phone and have an audience from all around the world in the thousands, hundreds of thousands or millions. Instagram, Twitter, Facebook, Pinterest, Youtube, Tik Tok and MORE platforms are out there waiting for your unique spin on highly valuable content!!! Use these free platforms to show your authority – how amazing you are at what you do! Show the people you reach, that you can help them. Share some of your BEST stuff with them. Don’t forget your SEO – this is how you optimize your content on search engines. Use keywords on your websites, blogs, etc to make sure that Google knows who to send to you when they search their problem “how do I XYZ”?” [insert your blog!]
This is the real secret to having it all… believing you can and that you are worthy of having it all. Every one of us has some pretty frustrating limiting beliefs. They sabotage our success, often subconsciously. Speaking from my own experiences, getting my mind to work for me has been the greatest investment towards my success. If we are not intentional about our beliefs – aka the stories we partner with that are either working for or against us – then no matter what strategy you’re executing, no matter what coach you’re paying, no matter how big your marketing budget is, you will be limited by your beliefs. This is the invisible killer of too many dreams and I’m not here for it!!! YOU ARE WORTHY of all that you dream of. MORE than you’re probably dreaming of. Support yourself by working on your mindset and choosing to believe stories that serve your highest self and your greatest values and goals.
The best marketing is always word of mouth – referrals are amazing because they allow us to reduce the time it takes for someone to trust us. Think about it for a minute- when you stumble across someone new, you suss them out for a while. They have to earn your trust before you’ll take them seriously or hand over your money. But if your BFF tells you about this insane coach, or hair scrunchie or yoga program- you run, don’t walk, over to get on board with the service, product, program, community etc. You trust your bff, so you trust their referral. I’m always incredible grateful for referrals because it shows that my work has made a real difference in the life of someone. They are standing by me. That is worth its weight in gold. Share your service or product with people in your circle – your friends, family, community at work, church, your kids schools, your gym, etc – and allow them to share you and your offer with their worlds. It’s free marketing and the best marketing.
DIRECTION OVER SPEED
I don’t personally know of any overnight success story. Even the businesses that appear to be an overnight blow up on the surface are not when you dig deeper. We are personally growing alongside our business. Give yourself and your business permission to make mistakes, to try and fail, to try again. Allow yourself to trudge along, when it’s not glamorous, and nobody is clapping, and you have no evidence of success other than your die hard belief that you’ve got this [ps, you do]. It takes time. Focus on moving in the right direction more than the speed at which you’re going, and stay consistent on this trek. Consistency over time builds trust, and trust builds businesses. Thus, it takes consistency and it takes time to build a sustainable and successful business. Embrace the journey and know that where you are right now is part of your story. The story you will one day share when you arrive at the place that you’re dreaming of right now. And when you get there, you’ll probably realize it was never about the destination… it was about who you became to get to where you wanted to go. Fall in love with who you are and who you’re becoming and witness the beauty that flourishes around you as a result.
SOCIAL MEDIA – ATTENTION MARKETING
One of the greatest gifts of building a business during this time in history is that we have access to millions of people with the hit of a button. If you are strapped for cash, attention marketing is going to be your golden ticket to getting in front of your people without having to pay for the ad space. Viral content, educational content, and creating value for free whether that be on Instagram, your podcast, Youtube etc, is going to help establish you as an authority and show your people that they can trust you to help them. This is how I built my business to six figures profits with ZERO ads in a relatively short amount of time!
Let me know if there’s anything you’re doing right now that is currently working for you and comment below!
P.S The best is yet to come,