Question
How can I start a business with very little money?
Response
The guests point to starting lean and taking action rather than waiting for capital. One billionaire in the Miami segment said he started his first business with $300, and the interviewer drew the lesson that you don't need a ton of capital, you just need to take action. Another billionaire said he started his company with $4,000 before selling it for $4 billion. The founder of First Form started with $12,000, with no investors and no inheritance, and lived in the back of his store for the first couple of years. Another entrepreneur had $15 in the bank when he started his business, and his advice was to stop wishing and decide. Several guests also suggest using a job as paid training, learning the industry, and then leaving to do it yourself. Finally, one entrepreneur said that starting a business with an entity service like Bizee can be done quickly.
Sources & references
- 01Asking Billionaire Women How They Got Rich!4:44(opens on YouTube in a new tab)
I started my first business that made me who I am today with $300.
- 02Asking Billionaire Women How They Got Rich!4:53(opens on YouTube in a new tab)
So, you don't need a ton of capital. You just need to take action.
- 03Asking Billionaire Women How They Got Rich!4:57(opens on YouTube in a new tab)
that started his billion-dollar company with $4,000 and he just sold it for $4 billion.
- 04Day in the Life of a Billionaire5:35(opens on YouTube in a new tab)
We started with $12,000.
- 05Asking NY Billionaires If They Believe in God!7:19(opens on YouTube in a new tab)
I had $15 in my bank account when I started the business.
- 06Asking NY Billionaires If They Believe in God!8:00(opens on YouTube in a new tab)
The key is you got to stop wishing and you got to decide.
- 07Asking Millionaires How They Got RICH! (Chicago)9:42(opens on YouTube in a new tab)
Start looking at your job today as paid training.