111: How Much Money Do You Need to Start a Business? [Podcast]

How Much Money Do You Need to Start a Business? The typical thinking is that $100,000 is needed to start a business. But in reality, the typical startup spends significantly less. In this episode we will explore ideas to get your business started with little or no investment. Money Plan to Start a Business "It costs less than $10k to start a business. #entrepreneur #startupcost"]No one ever really asks "How Much Money Do You Need to Start a Business?" - instead they just assume that is it some figure such as $100,000. Define why you need moneyEquipment and toolsPay yourself and your teamMarketing How to do it on the cheap - EquipmentRent or borrowUse what you have already and add as needed Team BuildingHire on a project by project basisDo not quit your day job yetManage the cash flow MarketingBe OK with growing slowEngage current or previous customers for referralsUse sweat equity Avoid the two lies of business startupsYou have to invest in things to growDebt is normal Listen to the advice of others - but use your brainJoin and listen to find tricks to start your own business for less. Links mentioned in this episode: Being Lean in Your Business Upwork - Freelancers EntreLeadership Building Your Own BusinessPodcast Details:Click Here to Subscribe via RSS (non-iTunes feed)Subscribing is simple! Go to iTunes. Click Open In iTunes Hit subscribe!While there why not leave me a review!StitcherIf you are a Stitcher listener, I have not left you out! Just click Company of One on Stitcher!Dale Callahan, Ph.D.Business Coach for Professionals Ready to Take Control Helping you move from stuck to in-demand — or start something of your own. Grab the Idea Engine: 7 prompts to find your next move Book a Next Step Strategy SessionDirector of Engineering Management @ UAB (205) 790-8447 dalecallahan.com LinkedIn

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