There are lots of things to do to build a company without any funds. As a matter of fact, you may get pretty far with just online access, time, and concise vision. Here is a list of 10 measures to take to assist in building the company of your dreams--without having to spend an arm and a leg in doing so:
Clarify the concept
What's the problem you have a desire to solve? How is your business going to solve it? Outline, from beginning to end, exactly how the business will operate from a user's point of view. Next, outline exactly what's needed to develop that reality from your company's viewpoint.
Conduct market research
Take individuals in your intended audience through your vision. Take this feedback into consideration, and search for patterns. Your idea might make a lot of sense within your mind, yet might not make sense to prospective customers. If they do not understand it or find value in it, odds are they will not give up their money--which is typically what you are after.
Put together an in-depth map of your business. If you have an internet business idea or app concept, map out each screen. Where are all of the buttons, and where do these buttons take you? What will your copy say? What graphics will you require? Each page on the website or app must be mapped out.
Perform a competitive analysis
Which organizations are utilizing a similar business model, and how are they structuring their service and their company? Which businesses are in your current space, and what separates your business from theirs? Conduct as much research as possible, and utilize this knowledge to springboard your idea, so you aren't playing catch up later on.
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Study the reduction of expenses of operation
In order to spend as little cash as possible early on, you should compare costs of all of the services needed to hire a staff to turn your idea into reality. Do not overlook websites like Zirtual, Odesk, and Elance, as it'll come to employing designers, developers, or a variety of staff members. They're able to save you thousands of dollars, and potentially can offer you a more helpful and responsive service.
Begin to leverage social networks
It's possible to build a following without having to spend money. Get all of your family and friends to follow your social networks, and provide them with consistent updates about your progress. Offer them incentives--like promo codes for an upcoming product--and ask them to invite their friends, too. If you already have a following, it may aid in driving your first sales.
Go and meet additional entrepreneurs. There are lots of businesses out there that you can become involved with, both online and in person. Tell other people and entrepreneurs in your arena about what you are doing. Get them thrilled about your idea, and request their assistance if you believe they provide value. If you already have a clear direction as you launch, build up an advisory board of five to seven fellow entrepreneurs who have had relevant success within your arena. Provide a percentage point of equity in exchange for connections, strategy, and advice.
Locate a mentor
He or she ought to be someone you look up to, and who has already achieved a certain level of the success you hope to someday attain. Figure out a way to connect with someone you have a desire to be mentored by--tell her or him your story, and be direct about asking if she or he might consider mentoring you. They will probably be flattered and say yes.
Have a logo designed
This will be a solid symbol of your progress and might drive you to take further action. A handful of services charge a couple of hundred dollars for an excellent logo, yet I recommend using LogoNerds.com. It's possible to get a pretty good logo completed for $27.