How To Start A Home-Based Business With No Money In 4 Easy Ways

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You are always coming up with new ideas to the point it is driving you bonkers. Maybe it's time to do something with all those great ideas and start a home-based business. 

1. Decide on if you will offer a service or a product.

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It can be tricky putting together the pieces of this puzzle. According to Elle and Company Design, offering a product first can be costly if you don't have a wide audience. In contrast, offering a service can be less risky and "you only need a handful or two of interested clients to generate a significant profit". 

2. Figure out if your idea is viable or not.

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It's important to do market research to see if people will pay money to buy your services and products. Is there an unmet need for what you want to sell? This is where many of us freeze up and dreams die off. But it doesn't have to be that way. In an article on Entreprenuer.com, they state that "You can gather information from industry associations, Web searches, periodicals, federal and state agencies, and so forth. A trip to the library or a few hours online can set you on your way to really understanding your market. Your aim is to gain a general sense of the type of customer your product or service will serve-or at least to being willing to find out through the research process".

3. LeverageTechnology.

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We live in the greatest technological time. It has never been easy to get up and running with sharing your gifts and talents. Just look at all the Youtube stars. You can use the internet to test the market and sell your service and products with minimal barriers to entry. This is a game changer.

4. Sell, Sell, Sell! When many people think of selling to others the image of a slick talking used car salesman usually comes into focus.

Image courtesy of somkiat2023 at FreeDigitalPhotos.net

Image courtesy of somkiat2023 at FreeDigitalPhotos.net

According to Springboard Biz Development, this is known as transactional selling and is based on " short-term solutions which are primarily concerned with the promotion and selling of the product with little or no emphasis on customer needs".  This definition of selling according to Dictionary.com is to persuade or induce someone to buy (something)". Eww! I don't know about you but I don't want anyone "inducing me to buy anything". But I would be interested in someone getting to know my needs and pain points and sharing a service or product that would alleviate my problem. This version of selling is relationship based. Relationship-based selling is focused on "building long-term relationships where the sales rep gets to know his/her customer, their needs, and their wants. Then and only then does the salesperson even think about trying to make a sale".

When you have zero dollars to start a business starting a home-based business could be the answer. It's important to:

  • Decide if you will offer a service or product

  • Figure out if your product is something people need or want

  • Use technology to test the waters

  • Build relationships with your customers so that you can share services or products that they want

Are you pumped and ready to hit the ground running with your new home-based business? Do you have other ideas to share to help others who are looking to build their business with no money? Share in the comments below.

KEEP IT SUNNY!