5 ways to start business on a low budget
Being creative with money is an acquired skill and can help you transition with ease
from a job to a business, or moving house or after a break up, hear are some tips and tricks to get you started
Creativity is not always about being an artist, creativity is described as “the use of imagination or original ideas to create something; inventiveness”. Inventiveness can be found in all ways including being resourceful and creative with money.
When I started my coaching business in France I decided to jump right in and give up my job. A dumb idea perhaps, a non calculated risk perhaps. I thought I would get customers pretty quickly (I had already run a successful juice business). My reasoning was that I had already been coaching friends and acquaintances, so it wouldn’t take me long to get more customers. Big mistake. Friends and colleagues usually help you out as you experiment, but don’t often become your best customers!!
Looking back I would most probably not advise others to do the same unless they have enough money or a very supportive partner to help them through the first 1-2 years. I had neither, only resilience, courage and a will to not give up (although I wanted to many times). I could have gone and got another job but I was stubborn and wanted to prove my theory that money follows joy and not joy money!!!
I became an expert at getting by with very little whilst at the same time starting my business, one of the biggest lessons I learnt, you don’t have to have lots of money to start a business, just be creative. Its all about the mindset and saving money in alternative ways. I found the following things very helpful. Although they may seem simple and logical we very often forget to do them. So here are my best 5 tips:
“You must gain control over your money or the lack of it will forever control you” – Dave Ramsey
1.Reduce insignificant insurances and bills by relooking at what you are paying for
How often do you sit down and relook at your insurance policies, your telephone contract, car insurance or internet expenses? Sometimes we get complacent taking them out when we have the money, getting used to paying them automatically every month via transfer and then forgetting about them. They renew automatically and we may not really need them. Check what you are paying for, or reduce the policy, most insurance policies have different levels and the basic may be enough. Same with the internet and telephone, there are so many companies vying for your business they are giving such good deals. Look around and you may save at least 30/40$ a month on them. Look at what you are willing to sacrifice, and your priorities, or even things such as a smaller car
2. Gather up your gold!!
I realised that I had a lot of old jewellery lying around that I hadn’t warn for years. Gold is a commodity and at the time the value of gold was really good and so I decided to go and sell it. I was in France and there are plenty of jewellery shops that weigh the gold and will give you the current value. If you don’t have gold or silver to sell, perhaps there are other items of value in the house that you can sell, things you keep for one day and that day never comes.
“Money is not the only answer but it makes a difference” – Barrack Obama
3. Work on your money beliefs to be able to receive in delicious and delightful ways
We often think that money has to come from a job or that we have to “earn” it to receive it, and that we actually have to have money to buy things instead of being given them or asking for them. Not all things that are valuable have to be paid for. What I mean by that is to understand your mindset and beliefs about what’s possible. When I began to open my mind about how I could get money instead of working for it and receive things instead of paying for them, all of a sudden I got a refund for something such as tax, I received a gift of money from family, people would invite me to dinner and pay for me. I exchanged services for something I needed and found there were so many things out there for free that I had never discovered. I found free networking events, free business support, free masterclasses about facebook, about business planning about everything I needed to start. I boosted both my visibility and business sense to start attracting clients all without paying a cent (or maybe just petrol, but if you have a bike you can even save on that). Maybe write a receiving journal, as the saying says, what you focus on is what you get. If you focus on what you are receiiving and grateful you tend to get more!!!
I also read books to increase my knowledge of how others did it. What did other successful people do, how did they change there mindset. A few books that helped were “The secret of a millionaires mind by THarv Eker, and books by Napolean Hill. However don’t just read them, act on them, knowledge and action brings results.
4. Work on the emotions & stress that come up through play, calm & joy
Money can bring up a lot of stress and difficult emotions, especially in times when we are transitioning to new things and we don’t have the financial security or a consistent client base yet, or even a support network. It can create a lack mentality. You make decisions from fear and lack, take clients that don’t suit you and make pressurised decisions that you wouldn’t if you felt that you had options. We always have options but we forget that when money is tight. I have a myriad of tools that I use with my clients for stress but a few different ideas include learning to meditate and use mindfulness. It floods the system with destressing hormones and begins to balance them for both motivation and calm. You begin to get more in touch with what you need.
Join online support networks to share your struggles. I use breathing techniques and EFT tapping – Emotional Freedom technique that is a way to release stressful emotions through the body. Most of all I went out and had fun, continued to socialise and do exercise, surfing was my release. Fun and play are researched to allow us to increase our dopamine levels, serotonin and endorphins that are known as the happy pills, and you certainly don’t need money to go out and laugh and have fun.
5.Ask the universe, ask for help, visualise and pray
I was such a terrible culprit for trying to do it all alone and felt weak for asking for help and support, to show that I couldn’t run a business by myself, that I had all the answers. That is so wrong and it is an attitude of the ego. If you get out and ask for help people are often willing to give you advise or referrals or print things for you or do some graphic design for free. The universe can also help you if you pray and ask empowering questions. The brain functions in mysterious ways and when you start asking how can I or what would it take to the brain begins to come up with inspired ideas and thoughts and then you then bump into people and books or answers to what you need. Its all about energyThe , the energy you are putting out and the way you feel. Learning how to do that and to see and feel and visualise what you would like to see can be very beneficial to understanidng the possiblity.
The above are are simple techniques that perhaps need more depth and consideration and things to learn. I am running a mindful money solutions workshop with a financial coach to begin teaching many of the techniques. Contact me to find out more about the weekend or to work with me through a mindful money program.
Ersilia – firstname.lastname@example.org
Get clarity on what you want and define what brings you joy, take the first step on your journey to more impact and purpose, Tel: +61 497 062902
Robert Holden from the happiness project shares his views on joy in this beautiful video
A great read to get you started on your jjourney to a millionaires mindset “The secrets of a millionaires mind” -T Harv Ecker