Think you need a big budget to start a business? Think again. I’m Kristi Mitchell, founder of My Venture Coach, and I’ve launched multiple successful businesses with little to no money. In 1998, while working as a corporate executive, I started my first venture, a highly successful security company, with just $200. Inspired by complaints about security issues from my law enforcement network, I saw an opportunity to solve a real problem for local businesses. That company scaled to six figures in under two years and today is a multimillion-dollar business.

With over 30 years of entrepreneurial experience, I’ve mentored thousands of Founders to turn their ideas into thriving businesses without cash. In this guide, I share 10 proven steps to start a business with no money, backed by strategies that helped 80% of My Venture Coach Founders launch within three months.

Why You Don’t Need Money to Start a Business

The biggest myth in entrepreneurship is that cash is king when starting a business. A 2023 Kauffman Foundation study found 65% of startups launch with less than $1,000. Resourcefulness, creativity, and persistence are your real capital. These steps, drawn from my own journey and thousands of coaching sessions with Founders, will show you how to start a business with no money—and build something sustainable.

Step 1: Leverage Your Skills, Passions, and Connections

Your skills, passions, and network are the foundation of a no-money startup. In 1998, I launched my security company with just $200, using my expertise in risk management, my passion for solving problems for others, and my connections from my law enforcement network. Hearing local companies complain about security issues gave me the idea to solve their problem by hiring off duty police officers to provide security to local businesses. By reaching out to business owners I thought might have security needs, I landed my first client in two weeks—no major cash required.

• Action: List your top 5 skills (e.g., problem-solving, teaching), passions (e.g., fitness, writing), and connections (e.g., colleagues, community groups). Combine them into a business idea, like offering custom t-shirts to your child's sports teams or teaching a skill to your network.
• Example: Founder Sarah tapped her unique social media skills and started a social media management company, earning $3,000 with her very first client. 
• Tool: Use MindMeister (free plan) to map out how your skills, passions, and connections align with a business idea.
• Stat: Upwork’s 2024 report shows 70% of freelancers start with skills they already have, and 55% use existing networks to find customers.

Step 2: Choose a Zero-Cost Business Model

Focus on businesses with no upfront costs. My second business, a consulting company, cost nothing but time to create, earning $10,000 in its first year, as just a small side hustle in my spare time.

• Ideas: Freelance writing, virtual assistant services, dropshipping via Oberlo’s free plan, or teaching via Zoom.
• Example: Founder Mike launched a dropshipping store with Shopify’s free trial, earning $2,500 in his first month.
• Tool: Create free branding with Canva.
• Stat: Shopify reports 70% of dropshipping businesses start with under $100.

 Step 3: Validate Your Idea for Free

Before diving in, confirm demand. I validated my security business by reaching out to 15 local businesses in my community to discuss their security concerns.

• Action: Survey potential customers on Reddit’s r/Entrepreneur, X with #VentureWithNoMoney, or free Facebook groups.... or in real life!
• Example: Founder John used Instagram polls to test his fitness coaching idea, securing five customers before launching.
• Tool: Create free surveys with Google Forms.

Step 4: Craft a Lean Business Plan

A one-page plan keeps you focused. My first business plan was a word document outlining my ideal customers, the service I would dazzle them with and how I would deliver it :)

• Action: Download our free business model templates in The Venture Community.
• Example: Founder Maria’s lean plan for her virtual assistant business led to $1,500 in her first month.
• Tool: Use Notion (free plan) for planning, goal setting and organization.

Step 5: Build a Professional Brand for Free

A strong brand builds trust. I love creating logo's with Canva’s free plan.

• Action: Design a logo with Canva and set up free profiles on Instagram, LinkedIn, X and other platforms that align with your target market.
• Example: Founder Emma’s Canva-designed brand attracted 10 customers for her freelance writing business.
• Tool: Use free Canva account to create free logos.
• Tip: Consistency in colors and fonts creates a polished look.

Step 6: Market for Free with Social Media

Social media is a free marketing powerhouse. People/Potential Customers flock to social media to find product and services that interest them...so be there when they search! Social Media is really morphing into Interest Media.

• Action: Post value-driven content
• Example: Founder Lisa’s Instagram Reels grew her business to 1,500 followers, landing $2,000 in new orders for her wellness products.
• Tool: Schedule posts with Buffer (free plan).
• Stat: Hootsuite’s 2024 report shows 60% of small businesses gain customers via free social media.

Step 7: Streamline with Free Tools

Free tools save time and money. I used Google Drive to manage documents with my security company's management team.

• Tools: Wix (free website), Calendly (free scheduling), Trello (free project management), and Square (free ecommerce) 
• Example: Founder Tom used Calendly to schedule his fitness clients, serving 12 customers in his first quarter.
• Tip: Join The Venture Community for a vetted resources and tools that will help you make decisions faster and with more confidence. 

Step 8: Network and Collaborate for Free

Connections open doors. I always attend annual conferences for the industries I'm involved with. This helps me stay up to date on latest trends and also land new customers. I also am active in online communities and love to partner with other businesses. 

• Action: Join free communities like Reddit’s r/Entrepreneur or virtual events on Eventbrite.
• Example: Founder Lisa partnered with a local business for her catering service, landing three gigs via referrals.
• Tool: Use Meetup for free events.

Step 9: Offer a Free or Low-Cost Pilot

Build credibility with a pilot. I've given away free products for my product-based businesses, gaining testimonials that attracted paying customers.

• Action: Provide a free consultation, a free product or low-cost trial to 5–10 early customers for feedback.
• Example: Founder Anna’s free webinar for her consulting business led to 15 paying customers within two months.
• Tip: Use Zoom (free plan) for pilots.

Step 10: Reinvest Profits to Scale

Once you earn, reinvest to grow. I always use profits to reinvest into my businesses to grow them or even to start new businesses.

• Action: Allocate 20% of earnings to growth (e.g., paid ads, tools, or additional products/services).
• Example: Founder Mark reinvested $200 into Google Ads, doubling his tutoring business revenue.
• Tip: Learn sustainable scaling in our Growth Mapping Course.

Your Next Steps

Starting a business with no money is about leveraging your skills, creativity, and community. I’ve done it personally multiple times, and I’ve assisted thousands of individuals just like you do the same. You don’t have to go it alone.

Ready to launch? Join our Venture Mapping Course to get a tailored roadmap and expert coaching. Connect with like-minded entrepreneurs in The Venture Community for resources and support to guide you in your entrepreneurial journey.

About the Author: Kristi Mitchell, founder of My Venture Coach, has built multimillion-dollar businesses from scratch with minimal capital. With 30+ years of entrepreneurial experience, and a passion for mentoring, Kristi helps purpose-driven entrepreneurs launch with confidence.

Join the Conversation

What’s your biggest challenge in starting a business with no money? Share in the comments or tag us with #VentureWithNoMoney on Instagram