List: How to Start A Business for Less Than $500

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List: How to Start A Business for Less Than $500

  • 10 Nice To Haves
  • 4 Must Haves
  • : Grammarly made improvements to Word and Google Docs-type spell checkers and now charge over 800 universities and hundreds of thousands of writers a monthly fee to fix typos and grammar errors.
  • : In 1978 John Mackey and Rene Lawson saved and borrowed money from friends and family to open their first store in Austin, Texas. After getting evicted from their apartment, the two lived in their first store.
  • : In 2000, co-founder Ben Chestnut had a design consulting business and clients who wanted email newsletters. So he decided to build a tool that would streamline the process.
  • : Jon Oringer was a professional software developer and an amateur photographer. He combined this set of skills and used 30,000 photos from his personal photo library to start a stock photo service that is currently worth $2 billion dollars.
  • : Michael Dell started out as a dishwasher, making a $2.30 per hour. Dell started selling PCs out of his college dorm.
  • : Philip Knight and Bill Bowerman started selling athletic shoes from their car trunk.
  • : Sara Blakely turned a $5,000 investment into an Oprah-approved approved garment that generates $400M in revenue annually.
  • : The personal finance service that promises to help young people save money lived on a tight budget from the time it was founded in 2009 until it raised $64M in 2015.
  • : Viral marketing integrated into a product plus Conversion Rate Optimization allowed GoFundMe founders to bootstrap a business.
  • : With only 40 employees and no substantial updates to the site for decades, Craigslist is the #17 most visited site in the US.
  • Advertise your business for free
  • Analyze Your Market and Challenges
  • Apple, Mattel, Disney, Google, Harley Davidson, Hewlett-Packard, Lotus Cars, and Yankee Candle Company:
  • Apply for government programs
  • Apps & Plugins: $0-$200+/month
  • Ask for help
  • Assess Your Capital Needs
  • Avoid get rich quick schemes
  • Barter
  • Craigslist
  • Crowdfund
  • Dell
  • Differentiate yourself. Small things make a big difference.
  • Do all the work yourself
  • Domain Nam: $0.99-$15/year
  • Email Marketing Software: $0-$50/month
  • Explore Crowdfunding Platforms
  • Find a co-founder with money
  • G Suite Account: $5/month
  • Gather Feedback
  • Get a credit line
  • Get creative. Funding sources are everywhere.
  • Get paid fast or upfront
  • GoFundMe
  • Grammarly
  • Grind it out. There’s no substitute for sweat equity.
  • Hosting: $3.50-$250/month ($29/month average)
  • Incorporation: $200-$800
  • Invent something and license it
  • Inventory: $0-$1000 to start
  • Join a mastermind group
  • Keep Your Present Job
  • Keep your job
  • Logo Design: $15-$300
  • MailChimp
  • Make it public
  • “Marketing: The sky\\’s the limit”,
  • Nerdwallet
  • Network with People
  • Nike
  • Offer a service
  • Partner with an entrepreneur
  • Payment Processing: 2-3% of revenue
  • Product Photos: $20-$1000
  • Reduce expenses
  • Run a Trial
  • Secure a Small Business Loan if Necessary
  • Sell your services
  • ShutterStock
  • Spanx
  • Stick with something you know
  • Use crowdfunding
  • Utilize low-cost alternatives
  • Warehouse: $4 to $7 per month per square foot
  • Website Designer: $300-$3000+
  • Website Theme: $50-$200
  • Whole Foods
  • Work on Your Business Idea
  • All started in garages.
  • Pivot. Use services to generate cash flow and fund a product-based business.
How to Start A Business for Less Than $500
Scott Adkins
Scott Adkins
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