How to Start a Business Without Going in Debt
Since I was already in debt and pledged to not add any more to it no matter what the circumstances I have been building up my online business without using any debt what so ever.
So how do you get started when you have no money to spare? Simple, by doing everything yourself.
That means, you are the article writer, the website developer, the advertiser and promoter. You are the researcher, you are the creativity.
I got to tell you, when you compare internet marketing with investing in real estate there are HUGE differences. One requires a mortgage to have a property, while the other requires a few dollars and some work. Both can be equally as valuable as well.
You don’t have to start out doing anything difficult. Maybe raise some money by doing some freelance work for other people. There are so many people who would love having websites created or promoted and articles written.
Once you have built up a large enough cash flow, you can start to outsource your work and build your business exponentially faster. Maybe set a budget allowing yourself to use half your income for outsourcing to grow your business. That is what I am currently doing. The fruits of this have been a steady increase in my business each month.
I LOVE that I don’t have to take out a business loan. This is truly the best business that you can literally start with less than $20 in your pocket. That is why I chose it as my method for getting out of debt.
Progress Overview
I think your website is awesome! Blogging is a great way to make money and more power to you for paying of your debt!
Amy, you’ve inspired me to start up Frugal Dad and several other sites. I’m now beginning to see some of the fruits of that labor in the form of adsense revenue and other affiliate income. I’ve even had several people where I got my ideas (my Wordpress themes, etc.) and I sent them your way. Thanks for all you continue to do here.
I agree - this is the best way to do it. And sites like Associated Content make it fairly easy to get business money in your pocket to invest in other things.
Amy,
Great post. I can’t believe how much “low rent” material is out there that people will try and peddle. It is refreshing to see this post promoting core values which to have become extinct with many people. I wish you much success in your path to reducing debt. You seem to be well on your way to achieving your goals!
Sorry Amy, my comment was to address your previous post.
Congratulations on your success.
I totally agree with you. while I haven’t been able to expand blogging into writing ebooks and collecting memberships, I’ve started making nearly $1k/mo in adsense and other affiliate programs!
like most businesses, it takes a while to grow, but with perseverence it can be accomplished.