Starting A Million-Dollar Business With $1,000

Starting A Million-Dollar Business With $1,000

Don’t fall into the trap of thinking it takes your entire life’s savings to start a business from the bottom up. With ingenuity and a focus on the customer first, you can use at little as $1,000 to get started. Jon Beekman managed to build a thriving business with this amount after his first big start up failed. By choosing to focus on feedback and speed over long-term development and big fund raising attempts, he created a lean business that could quickly adapt to the ideas of the first few customers.

One way to succeed with a small budget is to start selling before you fully flesh out your product. Aside from the idea of taking advanced orders, can you develop just a few items and build interest for them inexpensively? Too many start ups fail because they invest millions of dollars in creating something new. Investing all that money doesn’t help if the customers fail to think the product is worth their money in the end. By limiting your budget for development costs, you actually force yourself to engage with your customers early on in the process. This can greatly increase your chances of finding success after you get up and running.

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