Prompt Playbook: Starting a Business with no Money PART 2

Prompt Playbook: Starting a Business with no Money

Author

Kyle Balmer
April 02, 2024

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Hey Prompt Entrepreneur,

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Right, let’s continue this week’s guide on a subject near and dear to my heart -starting a business with no cash!

This week we’ll cover:

  • Part 1: Best time to Start

  • Part 2: Low Cost Business Ideas

  • Part 3: Earn Immediately Whilst Validating

  • Part 4: Grow Without Investment

  • Part 5: Raising Money with Proven ROI

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Low Cost Business Ideas

Summary

  1. Low Cost Business Ideas

    • Your idea should be a combination of something you are skilled at (good enough to compete), something you enjoy (willingness to work on it) and there exists a market for it.

    • The initial idea should require no capital, no team and be digital not physical.

    • Service first ideally. This puts you in contact with customers immediately which provides immediate revenue and more importantly learning. Freelance if you need to. Then shift to a productised service then to a product once the value to the customer is known.

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