How to Start a Business without Money

Several decades ago, before I got interested in starting businesses, I met a friend who went from being penniless to becoming quite wealthy in a breathtakingly short amount of time. I asked him what the secret of getting rich was.

He said that you should find something that interests you and become an expert. For some reason, he became interested in turquoise and went from knowing nothing to becoming quite knowledgeable about the gem, the various sources, the market, and the players. One thing led to another, opportunities presented themselves and, presto change-o, my friend was showered with dough.

When I started my first business, which was an ice cream company, I had no money, I had no business experience, and I had absolutely no idea how to make ice cream. Five years later, my ice cream was judged to be the best in America by People Magazine. (See April and May 2005 archives of this blog for the whole delicious story.)

What drove the growth of my business was the growth of my knowledge of ice cream. And what drove the growth of my knowledge of ice cream was my love for the stuff.

When you start a business, what must lead the way should be your own interest in or love for whatever it is you want to do. Loving what you do miraculously attracts all the necessary resources, people and opportunities. You definitely don’t need money to start. Bootstrapping will stimulate your creativity and that is worth much more than money anyway.

Besides, money is overrated. I have found through bitter experience that there is always baggage that comes with investors’ money. You take their money and you get their karma too. What may seem like easy money is frequently filled with major headaches and not worth it in the long run. I vastly prefer the freedom and the control that comes with bootstrapping.

But I am also a practical man who like fast-growing businesses. Therefore I have had to take on financial partners of various stripes. I have learned to be VERY fussy about who I partner with. But that is a whole other story.

One more thing: Your passion doesn’t have to be about any particular product or service. For me, my passion is the process – building teams, collaborating with others, wrestling with creative challenges, supplying customers with value, entertaining paradigm-shifting ideas, dreaming of the potential for fast growth, and being socially responsible to all the stakeholders, not to mention Mother Earth. I am passionate about those things, so if all those elements are present, then it doesn’t make a lick of difference if the end-product is ice cream or telecommunications (my second biz and I knew absolutely nothing about telecom either) or whatever.

www.lazyway.net

Comments

[Assiga Franck]

I am a young man looking for a way to take care of my family and i don't have money so i want to make business if any one can help me let him contact me at [email protected]

[Sameer]

Thanks I think U are totaly Right

I will try my best to start a small bussiness As U did but not in America in Afghanistan

Thanks

[Frances]

How dodgey is Mary??

I don't lack the ideas or the ambition, I lack the motivation. Is that because I haven't found what my passion is yet??

[dennis jokux]

i am a boy of 17.no mama,no papa.just popped outta high school.aint gat money,but wanna start up a business.gat big dreams of ownin a big fashion company,getin myself do music,ownin huge stocks,shareholdin,insurance.and to control da economy of my country.at dis old age i regret am old.17,pls help me out.i aint gat money to start up a business.send ur reply pls to my mailbox.thkx fred.

[Harish K]

send me the detail of how to join it,

[Denton]

http://docs.google.com/Doc?id=ddh6cph3_4dw9s98g2
well unfortunately Im not lazy or greedy...if when all is said and done I would be happy making 30k a year from this...however it will make alot more than that...its a Gamestop on steroids! need $57400 to get started need an investor partner or world dominator. Will trade all franchise ownership rights & 30% of biz for 1st 4 year. that adds up to 134400 the first year plus your initial investment and that number will triple by the 2nd.

[iyappan]

I want to earn some money without pay anything But after earn u can cut from my account, If there is any plan for that kind I really want to join that

[cora]

I think that what you have become is so awesome and one day i hope that i can do the same be an aspiring massage therapist;but right now i dont have the resources to start now. what do you think i need to do to be aggresive and combat my fear of starting.CORA in NASSAU BAHAMAS.

[Joshua]

i just want to start a small business and i need some finance to help me get through it. It is a very profitable business and i pray God will see me through.

[Sandman]

Most people that end up at this thread are looking to find a quick-fix and wish to walk in someone's footprints. You need to literally initiate your very own journey, entertain your passion and all other necessary condiments needed to fuel your idea, will eventually find you. Trust and believe in yourself and destiny will take care of the rest. Good success.

[B.S.Chandhok]

lot of good and great talks i just gone through your blog i find very interesting but practicaly lot of problem any how if someone have a zeal he or she can do anything . a positive attitude helps a lot rest beleive in GOD almighty.....

warm regards

[Job Self @ Goal Setting]

Amazing. I think it is the first time I read of somebody making a great business from nothing without referring to some internet related venture and some shady techniques. I like the paradigm shifting part too. It's part of my favorite quote:

"once a man's mind is stretched by a new idea, it never regains its original dimension"

[srinidhi ys]

i am interested in aviation .. m an aircraft mechanic... can anyone suggest any business related to aviation maintenance

[sonaji kawale]

i want start business but i have not money so can you help me?

[James wright]

how can i start a online business without
money.Im trying to start a business that i
would like.And is very ez to ran.If you how
of a way let me know
thank you
James wright

[The Biz Oriented]

cool and quite impressive!

[rahul]

i want to do business.but i have no financial suppot.i can do hard work for business.plz help me

[michelle]

Good article, I've been out of work for a year now and needed some motivation! I know I can do anything I set my mind to! I ache to have my own business but don't have any money, but hey this is the land of opportunity right? I'll just keep on keeping on with my dream! I also encourage anyone else that comes across this site to fulfill their dreams of owning their own business also! peace and love.

[VIDYA PAWAR]

Hi,
This is vidya pawar, i have great idea for business in india. I have made an survey for the business, and the business where i am thinking to start i am sure that i will earn a nice returns but i dont have money. I am looking for investor who can help me in this doing this business.

[allex]

i wanna established business of real estate and fiber glasses but tell me how can starts business without capital.

[Lisa]

Hi, my name ia Lisa and I want to start a buisness of my own in the music industry. Like many people who have a dream, I have no funds and wanted to follow the method explained above but don't really know how to get started. Knowledge is the key to understanding, this I know. I guess the first step is getting all of that knowledge and better understand it before I jump to plan D.

[k.shamshuddin]

hi im shamshuddin im want to with out invesment start to the bussiness how to start pls call me my number 008143585700....

[brian sikazwe]

i am young man who is looking for an investor who can help with funds.i have been thinking of starting a business in tranportion.i want to introduce cabs in my country.i have noticed that there no well established cabs company apart from the ones owned by just people.so the business i want to establishe a cab company that will have a radio system for communcation purposes with the driver and customer service.i will set up a base for customer to in call when the need transport.in this way cabs will be avaible for every body for 24 hours.

[brian sikazwe]

i am young man who is looking for an investor who can help with funds.i have been thinking of starting a business in tranportion.i want to introduce cabs in my country.i have noticed that there no well established cabs company apart from the ones owned by just people.so the business i want to establishe a cab company that will have a radio system for communcation purposes with the driver and customer service.i will set up a base for customer to in call when the need transport.in this way cabs will be avaible for every body for 24 hours.

brian sikazwe
[email protected]

[personal development guru]

I strongly believe that no matter what educational background you might have, no matter how much financial success you might have, your own personal development, success and self improvement begin with your own happiness; and as I have lived, you cannot be happy working a job you don't feel passionate about. It’s that passion that will take you to work every day for 8+ hours with a smile on your face, and make sure you leave your work with that same smile, almost eager to return the next morning after a good night, and plenty rest. And this should make almost any busy successful, financially.
Love the post!!

[Igor Stravinsky]

For naive and stupid people only!!!

[Elias Fernandes]

I would like to start my own business but don't know what to do.

[nitinraj]

hello sir that's a good job
bt i don't thing a new ideas of start a new business,so i request u please help me

[Dolly]

Sir,,,ur inspiration is too easy to understand as i think u have explained the secret of success by keeping the reality and reality always works...keep inspiring as now a days people dont have time for the same but people like you prove to be the boon to mankind.

[Gajender Kaushik]

i want to do business.but i have no financial suppot.i can do hard work for business.plz help me.
I want to earn some money without pay anything But after earn u can cut from my account, If there is any plan for that kind I really want to join that.

[Pissed off at people's bullshit]

Shut up. Shut up. Shut up. You cannot make money unless you have money! This IS common sense. If you make yourself an expert at something, that doesn't mean you will automatically roll in the dough. This article is for ignorant people OR those that already have money.

[MeetPlanB_Work at Home]

This article is great and very informative. 2 Thumbs UP!! Keep it up :)

[Buy and Sell Philippines]

Starting a business is easy when you know how to do it! and this article really says everything. I have a friend in LA and he own a website. No naming names though but what he do is very simple. Give people advice on their current situation and send them ebooks or movies to help. How does his business become profitable? through paypal donate.

[clara]

hello, i am trying to start my own business and i have no money to do this and i really need some help on this please and thank you

[Jason Webb]

Great article. I enjoy hearing about entrepreneurs who triumph potentially devastating situations and rise from it with a leaner, more efficient business and go on to achieve everything they desire.

[Daisy Ocampo]

Wow! its great to know that there are people like you still out there, now and days people has lost the perspective about what it is to work. Customer Service is very poor now in days for the reason that all we think about is making money instead of what relly matters, communication, respect and being polite to others. Thank you for posting your story.

[Chuck]

I'm starting my own business right now, and I'm not worrying about finding tons of investment capital. I'm confident that my free methods are going to pan out just fine in the long run.

[Muhammad Aslam]

Excellant

[Muhammad Aslam]

I am in real estate business from the last 25 years now I am desbarrated as i have no financial support to to float my business in newspapers to get results

[moorthy.s]

HI
I have gone through you article its good and i have a doubt that i am going to start a business and the machine cost alone comes around 25lak indian rupee,i think only resource i have is my property will it be worth full.but dame sure this is a nice project to go on wt your idea kindly need your reply and guide me

[teibamth]

i do like to know this business,

[Terri]

With out money, there are several things you will need to do for yourself. For instance, keeping the books may be your evening job while getting clients fills up your day.

[jagadeesh]

hello sir,
i am 25years old very ambitious about starting a new business .but i don't have any perfect idea about business and i am totally confused about it and worried about my future. give me an idea or plan how to start a business

[veena madapathi]

i want to know the business tips

[shaela]

I find this article does make sense. Read between & on the lines it's all there.
All
of the panic that it can't work is bull!
How do you think that soooooooooo many other businesses have made it and still there are ones being created???

Come on People. You are the only ones who are not doing the choices & pro active changes
That is it.
Wake up & take action or don't.
Luck to all :)

[Glenda]

Hi Everyone,
I hope that someone reading this post will be able to give me some good advice. I want to start a drive-thru coffee shop in a small town of 6000+ people, but I do not know where to begin. I don't have the funds on hand and I don't know how to go about getting it. I don’t think any bank is going to give me a loan because of it. To make a long story short, my ex-boyfriend has ruined my credit and I had to file bankruptcy because of it. I have dreamed of starting this business for a very long time. I am almost positive a drive-thru coffee shop will succeed in this town. The only place a person can get a specialty coffee is at the convenience stores or the fast food restaurants. The location is perfect because it is on the corner of a highway and the town’s main street. If you feel you can help, please e-mail me at [email protected] and put “advice” in the subject line so that I know it is not spam. Thank you.

[Wil Possible]

WOW... WOW... WOW... I am floored by your simple yet honest way of writing.

[Ernest]

well i like the ideas of no money needed but there is some catches i,m South African born had a business there for several years i gave it all up for love and relocated to Slovakia thinking how difficult can it be starting a new business here it should be a piece of cake i started my business in SA with about $40-00 in my pocket by using my customers money to fund any project i started but coming to Slovakia their mind frame is totally screwed number one i can not speak the lingo number to people here is so negative any suggestion i made they have 1 million excuses for not doing it and number 3 they are very judgmental over here they judge every thing i do and only find the wrong in it now tell me how do you do it in my situation i know there in so much opportunity here but how do i get past these peoples mentality

[justin jones]

hey im from memphis and im trying to start my own security business but dont know how too can you please help me i need clients

[sushant jaiswal]

very helpful to decide my aim.
thank you.....

[harish]

i like this

[Vanna]

This was a very inspiring post. I do want to start my own business eventually and this really gave me the boost to keep going for it! Please check out blog:
http://sylbanana.tumblr.com

[dyson karumazondo]

iam a zimbabwean and would like to start chicken rearing at home iam retiring end of this month what can i do as i have no enough money. Thank you for the advic
thank you
dyson karumazondo

[Ratmir V Valesa]

I need money: I need to make money! My Adress is 16305 S Hunter AVE, Oregon City, OR, 97045. I need a cheak; I am starting for free!

[Terrance Johnson]

just hope it's works for me

[IdeaGal]

Thanks for this great article. If you are looking to start a business but are in need of capital, there is a really interesting website that just launched called Businessmic.com.

Essentially, it is a way for entrepreneurs to post their ideas online to tons of investors. Entrepreneurs are allowed to create a short video that showcases their idea, whether it be a brand new technology, a business plan, or an improvement to an existing product.
Meanwhile, investors can sort through videos based on criteria such as industry and amount of funding requested.

Since it just started, now is a perfect time to get your idea heard first. Also, for a limited time, they are allowing you to upload your video for only one penny!

[Carlos manrique]

It's very interesting that you don't put heavy emphasis on money, but the passion that drives you to achieve your dreams....then money comes.
I share your views and wrote a post on "How to start a business with no money", just like yours.
I invite you all to read and compare notes.

Carlos

[Carlos manrique]

"Bootstrapping" is colloquial English which means: "Building a business out of very little or virtually nothing. Boot strappers rely usually on personal income and savings, ...", from Google definitions.

You can copy and paste words you don't understand on the browser bar and Google will define.
I highly suggest this practice: Looking up the meaning of words and phrases. Your understanding will increase tenfold. It's like restoring sight to a blind person.

Carlos

Carlos

[Jonathan]

Where i live is a business persons nightmare
so im like thinking of starting an on-line business but i don't know how? Can you help

[malik]

i appriciate u for this suggestion and idea for starting a business without having money

[Indianna Grace Overstreet]

this is excellent advice, well the first 2 paragraphs anyway. i stopped ready half way. :) Thanks for your help.

[Smitty]

I have an African and Caribbean Cuisine take out in Phoenix AZ and there is no traffic where it is now and would like someone to finance us to move to a better location in the Valley where more people will be able to benefit from the sweet tasting food prepared fresh with love.

[Smitty]

This Smitty again about the African and Caribbean Cuisine. If you want I can email you our menu we have now. Send your request to [email protected]

Thanke

[Mira]

Thank you for your advice. I have so much talent Customer Service, speak five languanges.Recentely I finish my medical school but my dream is to own my own business. Coocking is my passion. I believe in my self but I always want chunk money to start up. Very expesive to rent a place in my state so many rules can't cook from my own kitchen for the business. I need a professional kitchen but my dream will come true one day. Thank you again.

[Adam Dickinson]

Good Advice thankyou

[Carolyn Prince]

hi there i just a single mom trying to make a little extra money to see my way every month. Don' have any money to throw away just making it from pay to payday. Need legit business that cost nothing to start up.PLEASE HELP ME.
[email protected]

[annu]

i need to work, plz help me

[mansi savaliya]

wow...this very inspiring article for the people like me who r interested in starting business with zero investment...thank you.

[Business Transcription Services]

definitely i will follow this steps

[Willie Sanudiya]

It's all about putting your ideas and effort together, that is the key or way to success, you also need ideas from others who are already in business, asking them what they have done to achieve their goals.

[jamal22]

I have all tcarefuleans tconstantarimposingown service, but i don't reallas it should bemmodatepreeminentut
getting a business started, could you give me some information on what i would need to do to get my foot in
the door?
start a cleaning business

[karan singh]

Its an great article to encourage the people how he can start his work without money.

[najma]

i do not understand your story i am sorry tell it again clearly please sir thanks

[najma]

mmmmmmmm how you start the business without money because now a days without money you can buy the material for any thing

[youlotaregassed]

you lot are gassed

[malik usman awan]

i wold like to start a school business 1st to master degree in islamic. proffational & unique international education. with special courses certificate in dress designer. cooking. etc for ladies.
i have plot of land 65 marlas. at 15 minutes drive from sialkot city.
but i have no cash money for start my project.
i want partner for investing.

note:
i want to start this business like N.G.O social system for poor nation.

[waqas]

nice one

[Bashar]

i want to start new business and i have no money to start with

[Seosaidh]

Just a general comment: This is the best blog... ever! :-)

[Michael]

I learned nothing useful from this post.
Anyway,what is bootstrapping?
I assume it's hard work?
Tell me how hard work and no money makes a business survive?

One thing is noticable about these useless blogs and that is the predictable adoring comments that follow. They all sound the same! Could it be that they are not .....genuine?

[Fred Gratzon]

Dear Michael,
Bootstrapping is starting a business from scratch. But it's not hard work; it's got to be an expression of fun/passion/love of the challenge. Otherwise it probably won't get very high off the ground.

In my case, I started two businesses without a dime in my pocket and no knowledge of the industries I was entering. Of course I soon had to take on investors. But I didn't put any of my own money into them. I didn't have any to put in.

My ice cream company made Inc magazine list of the 500 fastest growing companies in 1988 and my telecom company made it three times in 1995, 1996, & 1997. In 1995 it was listed as the second fastest growing company in America. I took it public in 1998. That year it grossed $338 million.

In both cases my companies were fueled by fun, play, passion, and joyful collaboration. I honestly couldn't wait to get up in the morning to do it some more. I never once regarded any of it as "work." It was just too much fun.

[Jennifer Boyle]

I don’t agree to the blogger. You somehow need cash to start up a business. Even if it is just a simple selling of used cars. You have other things to prepare still.

[Patricia]

Hi Fred, I am so glad I lucked upon on this! I do hope you are still around, I have this passion and really have my mind set on starting my own home based business then move to a shop later or another building later. I would Love to get in contact with you and see if you can suggest any ideas or help me out, if you dont mind Please. Thank you Patricia

[real estate agents in atlanta ga]

I rarely leave a response, but i did some searching and wound up here The Lazy Way to Success: How to Start a Business without Money. And I do have 2 questions for you if you tend not to mind. Could it be simply me or does it look like a few of these comments look as if they are written by brain dead people? :-P And, if you are writing at other social sites, I'd like to follow anything fresh you have to post. Could you make a list of every one of your communal pages like your twitter feed, Facebook page or linkedin profile?

[starting a coffee shop business]

Hi! I've been following your blog for some time now and finally got the courage to go ahead and give you a shout out from Houston Tx! Just wanted to mention keep up the excellent work!