We’ve all heard stories of Entrepreneurs starting out in their parents’ basement, or building a global company from a garden shed. Even huge companies like Amazon, famously have humble beginnings. But just how humble a beginning can we manage these days?
How about a budget of just $100 to build from the ground up and launch your new venture? If you are very careful and methodical, it absolutely can be done.
Of course, the small budget comes with many constrictions. For example, you can’t invest in a large bulk of stock up front. Nor can you pay for a big ads campaign.
For the purpose of this post, we will assume that any stock or materials are already in your possession, or that you are launching a service-based business with no material overheads. What we are focussed here is on the launch process, which can be done surprisingly cheaply when you know where to focus.
Despite what you may have heard, organic social media can still be leveraged with some time and effort, and it’s amazing what you can achieve with a good plan in place. You don’t actually need an ads budget to launch.
So let’s look at how to launch a new business on a $100 budget.
The start
Your website and brand can be created for a truly low price. Check out Wix, Squarespace, or an ecommerce solution like Shoppify for a tiny monthly subscription cost.
You can create your branding using free online tools. Use a free Canva account to brand all your graphics; which you will then use on your website, your social media and your email marketing. Check out LogoCreator for free logo design, using their templates or designing your own with their elements. Now you are ready to start showing your brand to the world.
When it comes to launching, there is power in consistency. So be bold, and show up as regularly as you can manage. The more consumers see you, the more they will begin to see you as a trustworthy business. This is simply about repetition and familiarity breeding trust.
With this in mind, be aware that your first few social media posts or email blasts won’t move the needle. You are building trust first. So don’t expect those sales too quickly, as don’t be discouraged. This is a marathon, not a sprint.
The strategies
There are two key strategies for launching a business that don’t come with a hefty price tag. One is organic social media, and the other is email marketing. You can use your organic social media to fill your email marketing funnel too, so your efforts on Facebook and Instagram will go further in the long run.
How? Try a social media launch week to build up your followers and create some interest; using promotions, storytelling and discounts. This is an ideal time to tempt people onto your email list with an email-only exclusive discount. Competitions can work well for this too.
Now that you are growing your email list, which by the way has the best return on investment, you can begin building a relationship with your new subscribers.
Send them awesome content, showcase your products and services, and keep going with those launch celebration offers. It does take a little time to build trust, so remember to add valuable content to your emails and not just sales copy.
But after a short period of building trust, those sales are going to start happening.
Next steps
Now that you have your key low budget marketing strategies in place, as revenue comes in you can reinvest some budget into scaling up. You might now want to upgrade your products, your website, or your marketing software.
There is a lot to choose from, including tools like Missinglettr which take some of the social media and SEO work off your hands, freeing up more of your time.
You could also try a few paid advertising campaigns now that revenue is coming in.
Let’s summarise
If you are very strategic about where to spend and what free tools to take advantage of, then it is possible to get through your launch period with a tiny budget. Yes, even one under $100.
Getting through that launch period successfully, and sticking out that tough initial period can bring you the revue to re-invest in your business, scale and grow.
Organic social media is still a relevant strategy. It just takes time and effort to pay off. Email marketing still has the best return on investment, and can be used in conjunction with organic social media to get you through a low-budget launch.
Remember that the beginning of any new venture is always the hardest. If you can survive the launch and start making a return on your investment, then there is no limit to what you can achieve in the long run.
