How to Start a Business with a $300 Budget
How to Start a Business with a $300 Budget
Part One: Overcoming the Most Common Obstacle to Getting Started
Did you know that I started this newsletter from scratch?
That’s right, this newsletter cost me $0 dollars to start.
And now I have over 3,600 views of this newsletter.
(Screenshot of my Newsletter Stats Page as of May 27, 2024)
How is that possible?
How did I get over 3,600 views when I don’t know 3,600 people?
In this week’s edition of the Overcoming Obstacles for Entrepreneurs newsletter, we will go much deeper into the myths that Business School’s preach and also how you can start a legitimate business with a budget as low as $300.
The Overcoming Obstacles for Entrepreneurs Newsletter
If this is your first time reading this newsletter, welcome aboard. The purpose of this weekly newsletter is to help young entrepreneurs overcome the most common myths and obstacles that trip up most businesses.
But this newsletter is also a two-way street, which means, this newsletter is designed to help young entrepreneurs be more successful in their startup ideas and ventures. Therefore, if you have a question or there’s an obstacle you’re facing that you don’t know how to overcome—then make a comment here:
Step One:
Success Starts with Teamwork
So how did I grow this newsletter to over 3,600 views with $0?
And the answer happens to be through teamwork.
But let me explain.
I don’t have a traditional MBA degree. That’s because when I went to graduate school, I was leaning more into a career in education, which is why my degree is called “Educational Leadership.”
But I didn’t want to be pigeon holed into education, so I decided to attach a concentration in public finance to my Master’s Program.
That is why I understand finance, budgets, operations and everything else that you need to know, in order to run a successful business.
I am a huge advocate of higher education, but I also need to tell the truth.
You don’t need an MBA to be an entrepreneur and you don’t even need a college degree to start a successful business.
I know that isn’t what your teachers or professors want to tell you, but let’s be honest for a second. “What do they know about it?”
Unless your professor is a former entrepreneur, then what do they really know about starting a business, running a business or making it successful?
And unfortunately, the way that most Business School’s teach business is no longer the way 21st century businesses run. Which is why less and less people are applying to Business School in 2024 than ever before.
The topic of this week’s newsletter is “How to Start a Business with a $300 budget.” Which means, we need to address the most common myth promoted by the Business Schools.
“You need money to start a business”
The problem with this quote is simply that it’s not true.
The truth is you can start a business with as little as $300.
Want to know how?
Step Two:
Creating a Team Without Money (Capital)
If you attend Business School, all of your professors will teach you the same mantra:
“You need capital to start your business.”
And they will repeat this mantra over and over again, until you start to repeat it to yourself and everyone you meet. And the reason they want you to repeat this mantra is because if you believe you need “money” to start a business—then it makes Business School necessary.
After all, every MBA program is a business.
They are in the business of selling Master’s Degrees.
And the Business Schools would go out of business if they taught you the other way of starting a business.
Yes, there are two ways to start a business.
So here’s the first concept you need to know.
There are two valuable resources that every entrepreneur has:
Money
Time
In Step Three, we will go over how you can use those valuable resources to build your business. But for right now, it’s important just to realize that you have two very valuable resources in your Entrepreneurial Toolbox (money and time).
But let’s be real for a second.
You don’t have a lot of money.
And this is why business schools don’t want to teach you the “other” way to start a business. If you learned the “other” way—you wouldn’t take out a huge college loan with money you don’t have to go learn from them, would you?
So here’s the secret “other” way.
You have TIME!
For Example
When Steve Jobs and Steve Wosniak started Apple computers in Jobs’ garage in Palo Alto, the two men had no money.
That’s right, they were just two nerdy teenagers from the Bay Area, who didn’t grow up with money. And yet the two teenagers built the most profitable and successful company in the history of business.
So how did they do that without capital?
How did Steve Jobs and Steve Wosniak start a business with $300?
And the answer is TIME.
Every entrepreneur has two valuable resources in their Entrepreneur’s Toolbox and those are money and time. But most entrepreneurs don’t start out with a lot of money, which is why you need to lean into and leverage the other valuable resource you do have a lot of —and that is your time.
Step Three:
Check Your Toolbox
I grew up playing video games.
Maybe you’re a fan of video games too, such as, Minecraft, Fortnight, Animal Crossing or any other resource-management type game.
If you’re not a fan of video games—here’s the second concept you need to know:
“Check your resources list”
In resource-management type video games, part of the objective of the game is to manage your resources. In other words, check your toolbox to see what you have and what you need, in order to be more successful in the game.
When you first start out as an entrepreneur, the truth is you will not have a lot of money in your toolbox.
But that doesn’t mean you can’t start a business.
And it definitely doesn’t mean you can’t be successful.
When you realize that you have a toolbox that includes two valuable resources:
Time
Money
That’s when you start to understand that you can use TIME, in exchange for money.
And this is how you can start to grow your business.
So here’s what I’m going to do for you.
I’m going to give you a list of everything I do with TIME, that costs me $0.
Research
Writing
Social Media Marketing
Networking
Socializing
Building Relationships
How many of the things on this list, do you do for your business?
If you’re spending money on advertising and marketing and not seeing a good ROI, then stop and come back to this list.
The Real, Real
I started this newsletter for young entrepreneurs, simply because there are no valuable resources out there for entrepreneurs that are FREE.
Think about it this way—if you subscribe to this newsletter—you are getting access to an MBA degree for free. You are learning what the Business Schools won’t teach you and you are able to listen to an expert 21st century thought leader for $0.
And this is the third concept you need to learn.
“Make your time “more” valuable than money”
I charge $300 per hour for consulting.
I could charge more, but I feel bad because I know what it’s like to be starting out and not having any money to grow your business. But there’s a problem with not charging more than $300 an hour.
And here’s the problem.
My time is “more valuable” than $300 an hour.
Not only that, but any entrepreneur can afford $300 an hour, therefore I have more people who want to book a meeting with me than I have time to meet with them.
Hence why I started this newsletter.
The real, real is that I want to help as many entrepreneurs as I possibly can. And instead of charging $300 an hour for one meeting with me, which you end up getting several thousands of dollars of value from—why not try and share some of my knowledge, experience and expertise for FREE to more people in this newsletter.
In other words, I can reach more people through this newsletter than I can book individual meetings with people. And not only that, but you get even more value because the newsletter is FREE!
But I’m not done.
I have another FREE offer for you.
If you’re not subscribed to this newsletter—please hit the subscribe button right now
And if you are subscribed, will you please help me grow this newsletter, so that I can reach more young entrepreneurs, who need to know all of this valuable business information.
So here’s my next FREE offer.
If you help me grow, I will give you a list of “The 8 Things You Need to Start a Business in 2024 That Cost $0.”
This list will be 100% FREE and it will be included in next week’s newsletter!
I promise!!
So please, share this newsletter with anyone you know that is looking to start a business or is struggling in their business right now.