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?

Published: July 13, 2020 17:30 Justin Varghese, Your Money Editor

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Have little or no cash to put up as capital when starting a business? Image Credit: Stock image

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Few people looking for substantial outside funds to launch a new venture ever raise the capital they require. Image Credit: Stock image

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Questions to ask yourself when starting a business. Image Credit: Stock image

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Where is there a gap in the market and how can I fill that gap? Image Credit: Stock image

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Alternative questions to ask yourself when starting a business. Image Credit: Stock image

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Some non-traditional tips when starting a business. Image Credit: Stock image

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Take stock of what you have at your disposal. Image Credit: Stock image

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Consider what do you have knowledge for and your tangible resources. Image Credit: Stock image

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Answers to these will create a collection that can be combined to create something novel in establishing a new business. Image Credit: Stock image

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Combined whatever you know with who you know for it to have definite potential. Image Credit: Stock image

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Consider how your connections could help you use what you have more effectively. Image Credit: Stock image

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Invest only how much ever you can afford to lose when starting out. Image Credit: Stock image

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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. Image Credit: Stock image

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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. Image Credit: Stock image

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Flexibility and adaptability can give you a key competitive advantage! Image Credit: Stock image

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Existing firms typically take longer to adapt than new firms. Image Credit: Stock image

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An often forgotten yet cost-effective way to market your business is to do it digitally. Image Credit: Stock image

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Some online tools that will help are Google Trends and Google Analytics. Image Credit: Stock image

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Google Ads helps advertisers pay to display brief advertisements and product listings. Image Credit: Stock image

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Tips to start a business when strapped for cash

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