How To Start Business With Only $100

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Young people choose meaningful work over higher salaries. How can they find work they love, start business, and turn it into money?

[Read also: 7 Tips To Build Own Work While Working A Day Job]

The key is to connect the work they love with something that other people also love. Not everything you love can be turned into a successful business. I used to play video games, and no matter how good I was at Halo, no one came along to give me a check. However, I later learned that there were *other* things I loved — international travel, creative self-employment, writing — that I could in fact monetize.

That’s why it’s so important to focus on the question of *usefulness*. How will your idea serve others?

Most people spent *some* amount of money, even if it was just the cost of a $50 business license or a $10 domain name. But far more important than money was the investment of sweat equity — taking the time to make something meaningful. Brett Kelly wrote Evernote Essentials, a guide to the free Evernote software. His initial goal was that it would make $10,000 over the course of a year. One year later, it had made more than $100,000. Initial startup costs were essentially zero.

 

What are your top three tips for a $100 startup to get off the ground?

1. Turn your general idea into a specific idea.

What’s the product or service? Who is going to buy it? How will you get paid? Again, be as specific as possible.

2. Don’t wait to get going.

Aim for 30 days or less to actual startup time. Do whatever it takes to make that happen — get a free website from WordPress.com, sign up for a PayPal account if you don’t have one, and put your offer out to the world even if you don’t think everything is 100% ready.

[Read also: 7 Tips To Build Own Work While Working A Day Job]

3. Tell everyone you know about what you’re doing.

Don’t spam people, but do contact your friends to say, “Hey, I’m doing this thing — want to help? Can you spread the word?”

4. A bonus, fourth tip 

After the offer is out and you get initial feedback, commit to a process of continuous improvement. Every day, identify 1-2 actions you can take to further develop the project. Even if they’re small actions, the process will help you focus on being proactive instead of constantly responding to things. (Source: Forbes)

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