Start Up Costs - Inner Firewalking

I Don’t Have the Money to Start a Business

The following is an excerpt from the book Get Paid For Who You Are.

Twenty years ago starting a business required a physical store front that in turn required thousands of dollars for a security deposit, monthly rent and cash to invest in inventory. So, it’s natural to associate starting a business with large up- front costs.

Those who didn’t have the money to set up a store front might start a mail-order business advertising in magazines and shipping from home, or from a drop-shipper. However, it often took weeks or months of trial and error to find the right advertisement or magazine to reach your customers.

Now, with millions of customers surfing the internet, buying and downloading information at the click of a mouse, the landscape has changed. the internet is a viable — and cheap — store front and to get started, you need very little investment.

Jim Earley on Coaching Start Up Costs

The following is taken from David’s interview with Jim Earley in 10 Super Coaches.

Roughly how much capital/money did you spend in the first 6-12 months, and on what?

I already had a computer. I would have purchased my time and billing software ($200), and initial business cards ($30). My ongoing expenses would have included, paper, envelopes and postage, membership dues, meals, and automobile expenses.

After a year or so, I spent the best money ever on a high quality business card with a particularly evocative label. I bartered the design, and spent $400 on the cards. They were cool. Made a statement. Got noticed every time I used them. Bolstered my confidence, big time.

Some time later, I had a brochure printed. My attitude towards brochures is that they might be an important process to experience, but they’re probably not an important tool to have.