Growing Something from Nothing: How to Start a Business When You’re Broke

Some people aren’t meant to work for someone else all their life, but they don’t know where to begin when starting their own business. Discovering your skills and a proper concept for your business can be half the battle when you also have to fund it. Luckily, with the internet and all the different ways we can connect, your path to entrepreneurship can begin with zero capital. All you need is to be savvy, creative, patient, positive, and believe in yourself.

What types of skills lead to building a zero-capital business?

Not everyone sees their transferrable skills as entrepreneurial opportunities. Learning is a life-long process and understanding that we all harbour skills within us that can make us successful is the first step towards starting a business you will love to be part of every day. To discover your potential, answer these questions:

1.     What brings you joy in life?

Sure, life isn’t one easy feat. We all have ups and downs but sit down with a pen and paper and think hard about what brings you the most joy in life. Do you love to travel? Do you thrive from making your children laugh? Is it your creativity that keeps you going? Maybe you are a data person and enjoy organization or fact-checking. Whatever it is, follow it.

2.     What are your greatest attributes?

This one relies on you going even deeper. Think about your current job or past experiences. Are there certain attributes that your managers always commended you on? What do your friends think you’re best at? It could be anything from social skills to communication, big-picture thinking, or even problem-solving under stress. 

3.     What environment do I thrive in?

Do you prefer to work from home or in a group setting? Do you enjoy speaking with clients all day, or would you rather focus on getting projects completed? Understanding the environment you want to be in majority of your work time can speak volumes about what you end up doing. It can help you decide what industry you should set up your business in or whom you need support from.

After answering these three questions, you can begin your research. If you prefer talking with clients, you can focus on consultation businesses or coaching others, including interview coaching, nutrition, business consulting, etc. If you would rather complete projects and have less social interaction, you can start a business with a friend who is more social or use platforms like Fiverr, Contra, UpWork, or LinkedIn to take on projects and communicate over the internet on your terms.

So, you have a game plan. Now what?

Starting a business with zero capital can seem daunting at the beginning. However, with the right tools and guidance you can build a life you love if you’re determined, and you start putting action to your words. The best starting point is becoming a freelancer. Freelance life allows you to make your own schedule and reduce business costs by applying for Sole Proprietorship.

You can work from anywhere as long as you have a computer and an internet connection. Becoming a freelancer also provides the opportunity to build a community of like-minded individuals like the Skeleton Krew Agency. At SKA, we support each other by providing our strongest assets and delivering a full package concept. As a group of freelancers, we can achieve the same goals that a marketing agency does without a large overhead. To learn more, reach out to our team!