Tips to start a business when strapped for cash

Plan to go into business for yourself but have little or no cash to put up as capital?

Last updated: July 13, 2020 | 17:32

2 MIN READ

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Have little or no cash to put up as capital when starting a business?

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Few people looking for substantial outside funds to launch a new venture ever raise the capital they require.

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Questions to ask yourself when starting a business.

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Where is there a gap in the market and how can I fill that gap?

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Alternative questions to ask yourself when starting a business.

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Some non-traditional tips when starting a business.

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Take stock of what you have at your disposal.

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Consider what do you have knowledge for and your tangible resources.

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Answers to these will create a collection that can be combined to create something novel in establishing a new business.

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Combined whatever you know with who you know for it to have definite potential.

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Consider how your connections could help you use what you have more effectively.

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Invest only how much ever you can afford to lose when starting out.

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Experts recommend that you only put in what you can afford to lose is that you maintain some room for error.

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If you are willing to invest when you expect that you can get a specific return, it is likely that you may never take the leap.

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Flexibility and adaptability can give you a key competitive advantage!

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Existing firms typically take longer to adapt than new firms.

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An often forgotten yet cost-effective way to market your business is to do it digitally.

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Some online tools that will help are Google Trends and Google Analytics.

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Google Ads helps advertisers pay to display brief advertisements and product listings.

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