Cut Costs, Not Corners: Cheap Ways to Start a Business Without Sacrifice

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You know the old saying, "You've got to spend money to make money"? This is certainly the case if you're hoping to run a business. Money (and managing it) is a major cornerstone of managing business operations. A whopping 82% of U.S. businesses fail due to problems with cash flow, according to SCORE.

But don't assume that if you don't have a ton of cash in the bank to start your own company, you're immediately doomed. If you're dreaming of being your own boss, here are a few ways you can get your business off the ground for less money than you may be fearing.

Opt to sell your own services

If you're looking for ideas to get into business for yourself without spending a ton of money, selling your services is the way to go. Do you have a way with words and expert-level knowledge in a niche topic? Hiring yourself out as a freelance writer could be a good move. Or if you enjoy the satisfaction that comes from scrubbing a bathroom until it shines, starting a home or office cleaning service might be a good fit for you.

Falling back on your own skills is a great way to go into business for yourself, and chances are good that if you have useful talents, you can find ways to make money from them.

Work from home, if possible

While you likely won't be able to work from home if you're starting a handyperson service or cleaning houses, you can certainly work for yourself from your own home. If you're picking up bookkeeping work for other local businesses, data entry, editing digital content, or creating social media campaigns, you can do any of these from a desk in a spare room or even your couch or kitchen table. This will save you money on renting office space.

Seek out refurbished or used equipment

Don't assume that you must drop a ton of money on brand-new equipment to make your small business a success -- you have options here.

When I first started freelancing as a writer and editor a few years ago, I knew my personal laptop would be outmatched by the work, so I sought out a desktop computer. By buying a refurbished used machine from the manufacturer, I got a more advanced computer than I could have afforded had I bought it new.

Depending on your line of work, you might have to get creative to find equipment at a lower cost. For example, if you're planning to offer handyperson services, you might be able to find tools for cheap at estate or yard sales, or even on Facebook Marketplace.

Lean on free help

The best things in life are free, and if you don't have a ton of money to dump into start-up costs for a business, I urge you to take this to heart. Your local library or even business incubator might have resources for people who want to start a business. One in my area even offers research support, business plan development, and counseling for free. If you know small business owners in your area (or even elsewhere!), ask to meet for coffee to bounce ideas around or get inspired.

And a lot of great software options have free tiers for small business owners just starting out. Some also offer free trials, so you can see if a particular project management software program works for you before you commit to paying for it, for example.

DIY as much as you can

It's unlikely that you'll be able to hire staff to outsource some of your tasks right out of the gate when you create a brand-new business. While bringing on a staff accountant might be a future goal, it's a good idea to take on as much of the initial work yourself as you can.

Explore your options for accounting software , as it's likely to be a lot less expensive than hiring a person to handle the task for you when you first get started.

This goes for any other task you might eventually be hoping to delegate -- your new business might be a one-person show at current, but if you can pad your bank account by cutting costs now, you'll be in a better position to hire people in the future.

Don't assume that without a ton of money for start-up funding, your new business is sunk before it's even started. Cut costs where you can, and remember that the most important component is you -- and if you've got a solid business plan (you can write one for free!), you'll be well on your way to success.

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