3 Ways We Started Our Business Without Funding

Why is it considered the  “American Dream” to start your own business? It’s because you get to be your own boss. You get to have a flexible schedule. You get to have control of your own finances! But what if you don’t have money in your savings account to fund your business? What if you don’t have good enough credit to take out a business loan? What if you don’t want to give away ownership of your company to investors? Don’t worry! You are not alone. My partner and I were in the same situation last year when we founded our marketing agency, Shark Branding Solutions.

We had minimal savings, taking out a small business loan wasn’t an option and we had no interest in bringing investors on board. That meant we had to get creative if we wanted to get our business going. We used several different ways to get what we needed for our business.

Here’s the top three ways we were able to start our business without having to borrow any money:

Do It Yourself

You can learn how to do basically anything on the internet. YouTube will be your new best friend. Need to take professional pictures of your products? There are countless videos and articles that will show you how to do it with the equipment you have on hand. Need a website? Learn to build your own. The end result might not be perfect, but it gets you started until you can start bringing in revenue.

Partner with Other Entrepreneurs and Startups

Most entrepreneurs and startups are always looking for two things: funding and exposure. That’s because it is extremely difficult to get both. If you build working relationships with them, then you can leverage each other’s networks to grow your businesses.

Barter To Get What You Need

Need headshots? Find a photographer that is just starting out and trade them something in exchange for pictures. This is great for them because it helps them build their portfolio. Just be sure that whatever you barter for, that it is equally beneficial for both parties.

If you are thinking to yourself that you don’t have the time to do this, think again. The thing to remember is that while you don’t have money, you have all the time in the world (at least as much time as you are willing to dedicate to starting your new business.)

When we first started out, my business partner and I worked full-time at other jobs. (BTW-we are both also single moms.) We already had busy schedules but we found the time to make this a priority. We worked a lot of late nights after our children were in bed. We worked from soccer practice. We worked on the weekends. We worked harder than we ever had before and it paid off quickly. We were able to quit our jobs and make this our full-time jobs within a month of starting our business.

We sacrificed a lot but it paid off tremendously. Would things have been easier with funding? Absolutely.  However, the fact that we don’t have the stress of paying back loans or have to answer to investors was worth the sacrifice we made in the early months.

For the first times in our lives, we can truly say that we love our jobs.That’s because we have flexible schedules and can reap all the financial benefits from owning our own company. Don’t make the mistake of thinking that you can’t have your own company because you don’t have funding. Be creative and resourceful to make your dream come true.