| Hi Taylor:
I've got an idea for a T-shirt company and I'm really passionate about
it, but I've got ZERO (0) money to put down for any sort of business
launch. Is it even possible for someone to start a business without
money or do I need to go searching for investors? - Leanne
Hi Leanne: Anything is possible! Nothing is easy, but there's
no reason a person without capital should ever give up on a big idea.
The trick is finding your angle, and hopefully one of these simple
(and free!) steps will get you on the right path.
that website going. It's too easy to have a free website for
you not to do it. Even if it's just a single picture and an email
address, that gives you a digital calling card. As you get things
off the ground, a website will allow you to play with branding
and see what sticks. Don't worry about getting fancy, but don't
overlook the importance of your own site.
2. Get social. In-person meetings are great, but a social
media presence might be even better. Like a website, you can establish
a home base of sorts that people can share to get more eyes on
your brand. Especially for something like a T-shirt company, social
media is going to be the best tool at your disposal. The more
you post, the more traffic you'll get. You can also look at companies
similar to yours to see how they go about social media marketing
and maybe find a trick or two you can use.
3. Do something proactive every day. Phone calls are free.
So is sending an email. Posting a flyer on a community board at
a coffee shop is also super cheap. Instead of thinking about all
the ways that big businesses outspend you, concentrate on the
little actions you can take every day. As long as you're taking
steps to promote your brand and idea, people will notice. If you
only talk about your T-shirt company while hanging out with your
regular group of friends and family, you're not making the effort
to elevate your idea.
for a loan. If there's one specific thing you need-whether
it's a piece of equipment or an ad buy on Facebook-and you feel
like you can't afford it, try asking. Through any number of crowdsourcing
sites or a family member, you can almost definitely find the money
you need. Don't abuse this power, but don't rule it out when it
might be the solution to your problems.
| There was a
time when I had way more debt than cash in the bank, but that didn't
stop me from pushing through and starting a business. Keep dreaming
big and make it happen. Good luck!
Information presented is for educational purposes only and is not
an offer or solicitation for the sale or purchase of any specific
securities, investments, or investment strategies. Investments involve
risk and, unless otherwise stated, are not guaranteed. Be sure to
first consult with a qualified financial adviser and/or tax professional
before implementing any strategy discussed herein. To submit a question
to be answered in this column, please send it via email to Question@GoFarWithKovar.com,
or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901.