How To Start a Business With NO MONEY
when you start a business you start
dreaming about ruling the world and
living in a house like that but when
you're just starting out you have
nothing and today I'm gonna prove you
that you can start a business with zero
dollars so if you're interested in
starting a company without any budget
continue watching this video
[Music]
now first of all let me give you a
couple of examples of people who started
with zero money and they were actually
failing at the beginning whole food
store the guys who started it they first
relied on their parents and Friends
money and when they started the first
store they were actually running out of
cash they were kicked out of their
apartment and they had to live in their
whole food store Airbnb
it started with Brian Chesky and Joe
Gebbia realizing that people need places
to stay and they started renting out
their extra bed in their apartment and
this is how the whole Airbnb started did
they have money no they didn't they just
had their passion they had their talent
and this is how they started a billion
dollar company the whole Silicon Valley
started from a garage Hewlett and
Parkers started their company at their
parent's garage Google do you think
Sergey Brin had billions of dollars to
code the whole thing no Google was his
research project at Stanford and then he
realized the algorithm is actually worth
something and he started working on that
language chip story
Dimitri and I started linguae trip with
$300 initial investment to just register
a company and then we used money from a
first client to build a website and then
we used our money from the second client
to go to the UK and sign up more schools
for the platform so basically you don't
need a lot of money to start a company
you need a lot of passion and you need a
good idea now there are some types of
businesses that actually require raising
money and when you're thinking about
your business idea you need to really
decide whether you need that money or
not because for example if you're
building a bakery if you're starting a
consultancy business if you are creating
a store online you don't really need
initial investment yes you need to come
up with a product you need to think what
are you gonna sell so what are your
skills what is your experience what is
that product that you're selling for
that type of thing you don't really need
a lot of money I was here seeing a zero
cash because you can set up everything
online however if you're building
something like some people I know
they're building a supersonic jet
company oh yeah you totally need an
initial investment but this is
completely different stories so if
you're building something that can be
venture-backed and VC's venture
capitalists back businesses that could
grow to over a billion dollars so always
ask yourself can this business be worth
a billion dollars and if yes then you
can raise money from angel investors but
you really need to be sure that you're
building something unique but it's gonna
be scaling really fast because if it's
just another you know bakery store and
you're thinking of creating a new chain
Starbucks type this is not really a VC
business you can't really scale it even
if you have millions of dollars
sometimes you think that you need to
raise money for your business just
because you need to pay yourself and
this is a completely different story
there is money that your business needs
and there is money that you need and
this story with the money that you need
is sold in a different way it doesn't
mean you need to raise money for your
business that means you need to save
some money for yourself and I would say
have at least six months of run right
when I started a business I lived with
my parents and I ate my parents food I
relied on their salaries I didn't have a
lot of savings but I was also 21 years
old if you're older if you have a family
if you have responsibilities like maybe
you already have a mortgage or whatever
I would advise you to start thinking
about your business while working for
somebody else so you work for somebody
else you spend your evenings and your
weekends thinking about your business
idea and saving money so again you need
to have at least six months worth of
run-rate in order to start your own
company and not run out of money
right away sometimes I feel that you
want to raise money for your company
just because you need another approval
not because you really need their money
but just because you want to hear it
from somebody else like yes your
business idea is worth something because
it seems that there is no other way for
you to know whether your business idea
is worth it unless somebody invest in it
but there's a thing you can do you can
run a very quick trial and I've done
that on Silicon Valley girl I've done
that with some of my products I run ads
before actually creating the product I
agree
a simple landing page which can be
created for free I create a very simple
offer and I ask people to sign up and
then you spend maybe okay fifty dollars
on Facebook ads but that would already
show you the conversion rate that would
already show you whether there's
interest for your product again with
linguae trip we started by doing
everything manually yes we had an idea
of this amazing automated platform but
it later took us three years to code it
but I was really really happy that we
already had clients that were paying
because they were just proving that our
idea is worth it and I knew I'm gonna
make life easier for them so try and run
a small trial maybe ask people to sign
up for an email maybe provide a service
to your friends because I guess a lot of
people who are starting their businesses
right now they are relying on their own
experience they are relying on their own
area of expertise maybe it's a free
consultation
maybe you here doing a social media gig
then do something for free ask for views
and this is another way for you to
understand whether the business idea is
worth it and get some reviews as well
[Music]
and a guy with whom we started a company
with zero well
that was $300 initial investment to
register the company but or that was it
give advice to people who are in the
same situation right now just so guys
you should remember that nowadays almost
every single idea can be test without
money so your perception that you have
to have like rich parents of friends a
million dollars to start the business is
completely wrong so the good news that
now it's very easy to start second I
think the most important thing to
understand was the key value of your
product that you are going to make and
test this straight away yeah so the key
value as I mentioned will probably be
your expertise will probably be a
feature that you think is gonna make
your product different for us it was
first of all zero Commission's on
linguae trips
so basically when we started a lot of
agencies charge their fee on top of
schools fees and we decided to go
without that and the second hypothesis
was that people would be happier to book
online but the first online platform
didn't really have anything in the back
end in the back end there was marina
processing all the bookings and this is
how we realized that the idea is
actually working
yeah and Berger and was hard because it
wasn't enough like landing page
controller construction so it's not like
that but now you have like hundreds of
different companies who can help you
with the landing construct landing page
without any coding background except
payments etc etc so now it's even easier
than my than five years ago one of the
companies that helps you test out your
idea for free is called turbo page and
Roma page is a peer-to-peer social and
commerce platform where you can set up
your landing page for example if you're
selling services or you're selling a
consultation you set up a page there
they don't charge you anything to set up
they help you process the payments they
help you interact with your customers so
basically there is zero upfront fees and
hey you can start with zero dollars on
trova page you can offer any service as
long as
and you know there is demand for it for
example it could be as common as
photography services tutoring
translation or ask creative a suffering
home cooking meals helping your
neighbors to model on on demand you can
manage your whole business through turbo
page by creating invoices managing the
times when you're available so basically
anything and you might be wondering how
they are making money they would charge
you 10% of whatever you sell through a
page but good news is if you're watching
this video you're getting a special
promo for open trouble page they're
waiving their fees for the first six
months the link is below
sign up to travel page and test out your
business idea completely free Emily you
like San Francisco are you coming back I
know it's super windy but quick piece of
advice from me guys think about having
everything about your business online in
case the next lockdown happens or you
know people decide to stay at home for
good your visit is still gonna thrive
because you know especially after this
year I realize how important is to have
operations online how important is to
have a personal brand and how important
is to have multiple sources of income
because core business is basically not
functioning right now because people are
not traveling but we have online
education I have my youtube channels you
know it's so important to diversify so
it's okay if your first business idea
fails it's okay that your second
business idea fails you know it's okay
then you fail 10 times but when you test
out your business idea number 10 I am
pretty sure you're gonna be
so it doesn't matter how many times you
fall it's the matter of how many times
your rice and try again another piece of
inspiration for you guys when I was
dreaming about Silicon Valley when I was
back in Russia in saint-petersburg and
her business wasn't really growing I
would always look at the pictures off
Golden Gate Bridge and imagine myself
taking picture in front of it and I
would Google you know different YC Y
Combinator companies and a lot of them
would have a picture with a Golden Gate
and I would be like oh my god the day
will come when I will stand in front of
Golden Gate Bridge and take a picture
and I'm gonna live in San Francisco and
that was unimaginable back then but it
became my reality because I started
working on something that I was really
passionate about and I still am very
passionate about and I didn't care about
having initial capital I just started
because I wanted to start because I
wanted to challenge myself and because I
wanted to help others experience what I
have experienced studying abroad
sorry for all the wind this is San
Francisco this is a reality you think
California is all nice and you know
sunny yeah it is sunny but it's really
windy it is really cold but it's worth
it it's so worth it and one most
important thing that I wanted to
remember guys is no matter how much you
love the picture of yourself being this
amazing entrepreneur at traveling the
world and writing private jets the thing
that you should love is your daily life
you should love your problems you should
love solving your problems in your
business and you should love
communicating with your clients because
otherwise the whole thing wouldn't
really survive if you don't enjoy the
process thank you guys so much for
watching this video I hope I inspired
you to start right away again if you
think you need some cash you can always
ask your friends you can always ask your
family you can always apply for a small
business loan or just look for
opportunities in your
unity maybe there is something or
somebody offering some cash to young
entrepreneurs but I'm sure you can start
with a zero cash after this video if you
know yet subscribe to this channel hit
subscribe and let's do a quick challenge
down in comments below I'm gonna reply
to the comments that were posted in the
first 24 hours after I released this
video so comment down below with your
business idea and why you think it's
impossible to start it without any cash
and I would get back to you with my
solution to your problem thank you guys
so much in this video looking forward to
reading your comments down below and if
you're not yet subscribed to this
channel hit subscribe I'll see you very
soon in my next vlogs probably not from
San Francisco cuz I guess this is our
last week here we're going to Sonoma
next and then we'll see where we're life
takes us but hopefully Sonoma then
Malibu then back here in the Bay Area
then Russia and then Silicon Valley see
ya bye
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