There
are lots of things to do to build a company without any funds. As a
matter of fact, you may get pretty far with just online access, time,
and concise vision. Here is a list of 10 measures to take to assist in
building the company of your dreams--without having to spend an arm and a
leg in doing so:
Clarify the concept
What's the problem you have a desire to solve? How is your business
going to solve it? Outline, from beginning to end, exactly how the
business will operate from a user's point of view. Next, outline exactly
what's needed to develop that reality from your company's viewpoint.
Conduct market research
Take individuals in your intended audience through your vision. Take this
feedback
into consideration, and search for patterns. Your idea might make a lot
of sense within your mind, yet might not make sense to prospective
customers. If they do not understand it or find value in it, odds are
they will not give up their money--which is typically what you are
after.
Wireframe
Put together an in-depth map of your business. If you have an
internet business idea or app concept, map out each screen. Where are
all of the buttons, and where do these buttons take you? What will your
copy say? What graphics will you require? Each page on the website or
app must be mapped out.
Perform a competitive analysis
Which organizations are utilizing a similar business model, and how
are they structuring their service and their company? Which businesses
are in your current space, and what separates your business from theirs?
Conduct as much research as possible, and utilize this knowledge to
springboard your idea, so you aren't playing catch up later on.
Get informed
You might not have attended business school, yet you can still learn
from the best. Udemy offers affordable or even free resources to study
entrepreneurship, business, and different facets of sales and marketing,
which can assist in cutting months or years off of your development
time.
Study the reduction of expenses of operation
In order to spend as little cash as possible early on, you should
compare costs of all of the services needed to hire a staff to turn your
idea into reality. Do not overlook websites like Zirtual, Odesk, and
Elance, as it'll come to employing designers, developers, or a variety
of staff members. They're able to save you thousands of dollars, and
potentially can offer you a more helpful and responsive service.
Begin to leverage social networks
It's possible to build a following without having to spend money. Get
all of your family and friends to follow your social networks, and
provide them with consistent updates about your progress. Offer them
incentives--like promo codes for an upcoming product--and ask them to
invite their friends, too. If you already have a following, it may aid
in driving your first sales.
Network
Go and meet additional entrepreneurs. There are lots of businesses
out there that you can become involved with, both online and in person.
Tell other people and entrepreneurs in your arena about what you are
doing. Get them thrilled about your idea, and request their assistance
if you believe they provide value. If you already have a clear direction
as you launch, build up an advisory board of five to seven fellow
entrepreneurs who have had relevant success within your arena. Provide a
percentage point of equity in exchange for connections, strategy, and
advice.
Locate a mentor
He or she ought to be someone you look up to, and who has already
achieved a certain level of the success you hope to someday attain.
Figure out a way to connect with someone you have a desire to be
mentored by--tell her or him your story, and be direct about asking if
she or he might consider mentoring you. They will probably be flattered
and say yes.
Have a logo designed
This will be a solid symbol of your progress and might drive you to
take further action. A handful of services charge a couple of hundred
dollars for an excellent logo, yet I recommend using LogoNerds.com. It's
possible to get a pretty good logo completed for $27.
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