1. Look to the Sides: If you are eager about venturing out on your own don’t let money hold you back. While you can seek funding from friends and family, take a loan out against your mortgage or insurance if possible those are not great options for the risk adverse. It is for this that Jennifer Groover advises individuals to “keep their job until they have revenue coming in from the company or, if possible, to cut back on hours for your job so you can devote a little more time to your new business and increase momentum more quickly.” If you do want to go down the funding route, be sure to check out Kickstarter.com.
2. Adopt a Do-It-Yourself Attitude: It’s a new world, promises Sea, where “most business can be created at the kitchen table and on a shoestring budget.” There are tools and online resources that allow entrepreneurs to take on traditional services like public relations (HelpaReporter.com, PRWeb.com) legal (LegalZoom.com, Nolo.com, MyCorporation.com) and accounting (VirtualAccountants.com) at a fraction of the price so don’t be afraid to use them.
3. Trade the Old Fashioned Way: Your talent is a commodity that can be leveraged in exchange for other goods and services. Bartering services is a cost-effective way to get tasks accomplished without doling out dollars. Let’s use our personal fitness instructor Laura as an example. If she were to launch her new product line she could offer free training sessions in exchange for some of the professional services she needs to get started.