How to build your startup with less funds or resources

You’ve probably heard of big companies like Airbnb and Uber, but did you know that they share the same beginnings as you do? It’s true! These major global corporations have had humble starts but with big dreams. That’s why The Founderly has prepared a foolproof guide to help you map your way and start your business with little to no funds at all.

‍

‍

1. Start small, think big:

‍

Hey, here’s a little math problem: What’s the difference between ( (1.01)^{30} ) and ( (1.0)^{30} )? The numbers are minute, yet they have a difference of greater magnitude. I personally think that’s what starting out is all about. It’s not about what you could do tomorrow; it’s all about what you can do right
‍

When Vamika started The Founderly (yes, the one where you are reading this), she just wanted to solve one pressing problem — upskilling people. She didn’t have the resources, nor the time to build a gigantic dataset (thanks to exams!), but she chose to compound and confound herself with the dilemmas of today and tomorrow. Look where we are now: a 450+ member-strong community, a hyperactive family of budding entrepreneurs, and constantly striving to build for the world. This wasn’t done in a day, and most certainly not with the most extravagant resource set. It was done all alone in the beginning, and that’s where one should focus.

‍

So how do you go about it?

• Begin by validating your idea within your immediate network or community.
• Offer your products or services on a small scale, where you have full control.
• Gather feedback as well as resources available.
• And iterate based on the responses received.

‍
This iterative process not only helps refine your offering but also helps you seek out more possibilities with fewer investments.

‍

‍

2. Harness the power of your network:

‍

Your network is one of your most valuable assets when starting a business without money. Having a well-built network can be best compared with having really awesome-sauce friends. You know how your buds at school always had your back through thick and thin? A close-knit yet porous network basically does the same for you.

‍

You get to expose your startup to a fresh set of audience and gain lots of experience by learning from others. Isn't this both mutually beneficial and that too for a long run? Plus, you get to meet new people, gather more information and get your cog wheel of knowledge moving. Sounds like a pretty good deal to us! If you're in the initial stages of your startup with not much(or nothing) to invest in, networking is the most important skill you need to have at hand. This is how The Founderly succeeded in its most impactful session, Futureprenuers s1!

‍

• Reach out to friends, family, former colleagues, and mentors who may be willing to offer support, and advice, or even become your first customers.
• Leverage social media platforms and online communities to expand your reach and connect with like-minded individuals who can provide valuable insights and opportunities.

‍
In fact, The Founderly offers courses and aids to determined minds to forge new connections and build a strong network. To know more, check out our website

‍

‍

3. Barter and Trade:

‍

Your business is like your own baby, you would of course want the best for it. Be creative and use your gut in identifying potential trade partners who may be willing to exchange goods or services that complement your business. Get back to the old habits of your forefathers and master the art of real give and take. Especially in today’s world where it's so easy to just get things at hand without really working for it, bartering grounds you and sparks that ignition to inquire about tactics that produce more outcomes without much investment.
‍

Try to learn some marketing tactics from companies that go for organic marketing. For instance, we do A/B marketing on our socials - channelling the same content with different narratives to see what works and what doesn’t. And all of this is done by students and others in exchange for work experience. In your salad days, seek out partners on the same boat or scale bigger opportunities available on the internet.

‍

‍

4. Tap into Free Resources:

‍

The internet is a treasure trove of free resources and tools that can help you launch and grow your business without even spending a single penny. But finding those hidden pools of free goodness can be a little tricky. And honestly, what you really need in this scenario are some prodigious research skills. But you're in luck! Because we’ve made things super easy and boiled it down for you so you can get to work immediately.

‍

• Use open-source software for website development.
• Scavenge for free online courses and tutorials on marketing and business
  management.
• Read as much literature as you can find either from your nearby library or even
  online.
• Take your time to explore Google Scholar and remember that AI is your friend.
  ‍

‍

Utilise or even exploit these resources as much as you can. Sometimes we overlook such opportunities in the race against time. Don’t try to convince yourself and stay in delusion that expensive immediately means the best because there's a high possibility of finding some diamonds in the rough.

‍