Even in the absence of funds, you can launch a startup successfully!
Common belief tells us that without oodles of cash, a startup simply cannot be kick started. But is such a belief really true in the first place?
After all, these are unprecedented times where we are going through a pandemic on a global scale. Even in “normal” times, startups often found it hard to obtain funds; amidst a pandemic, things have got a whole lot tougher.
Yet solutions are there for us to consider. For instance, people costs are usually the highest expense for most startups. So, what if we said that startups can look to hire from among the tens of thousands we unfortunately find to be jobless at the moment — without actually paying them?
That’s impossible! While this is the usual reaction, it is not. By offering stakes in the business, startups can actually get quality talent, without having to incur any upfront hiring or salary related costs.
This is a theme we will be exploring vividly on this blog, across all the posts we put up.
With that thought in mind, let us look at the core topic of this post — “How to launch a startup without money?”
Launch your Startup while still at your “day job”
One of the most idyllic ways to ensure that there is basic cash flow — and “your bills are being paid”, is to continue at your regular “day job” while launching your startup.
Sure, this juggling act may not be a cakewalk for most. Yet, when it comes to managing funds optimally, this is an approach followed by many.
Looking for some inspiration? How about Jack Dorsey, founder of Twitter, who was working as a web designer at Odeo, a podcasting company…he even ended up partnering with his boss, Evan Williams, eventually!
“Unhide” your hidden cash
“But wait, I don’t have cash stashed away!”
Before you begin to protest along similar lines, bear in mind that this is not an allusion towards possibly ill-gotten wealth tucked away somewhere.
Rather, it is towards money which is legitimately there and readily available to you — which you simply do not realise.
Instances include fixed deposits in banks that you or your family may have made years ago; a property lying dormant; valuable assets like jewellery; or even material possessions that are valuable in nature (a priceless antique or a coveted painting perhaps?).
The possibilities are simply endless. The vital point to remember here is that your hunger for success — and your drive to setup your startup, should be strong enough for you to actively consider using these seemingly “hidden” resources to fund your startup.
Launch your startup by pitching your idea to friends and family members
When you have ample conviction in your business idea, then nothing should stop you from pitching it to friends and/or family members. Often, it is hesitation on this front which gets in the way of many businesses actually seeing the light of day.
Don’t let that happen to your business; the more people you pitch to, stronger the likelihood that you will find at least some folks with whom the idea will resonate. Within this set of people; you will in turn be able to obtain those who have both the ability as well as the willingness to actually invest in your startup.
Consider setting them up as early stage investors; the long term rewards for them will prove to be a huge draw!
Conclusion
These are just some of the ways in which you can successfully launch your startup, even if you do not have the funds for it from the beginning.
The key is to have an open mind and vision. Start now by posting your job at workxp.in.
Ultimately, you will find this endeavour reasonably easy!
