One of the biggest excuses people use as to why they cant start a business is always, “I don’t have enough money.”
Typically, people think that they need a lot of money like $50,000 to get their idea rolling and their business growing.
Chris Guillebeau, who is an author and entrepreneur, did an extensive study where he identified 1,500 individuals who have built businesses earning $50,000 or more a year and that started from a small investment, in many cases just $100 or less.
From the 1,500 case studies, Guillebeau chooses to focus on 50 individuals in his book “The $100 Startup.”
Everywhere around the world, individuals like these who have no specific specialized skills are discovering ways to monetize their passion at a low cost.
Even a lot of big companies that are worth millions and even billions of dollars have started out with small investments.
Hewlett-Packard, which is worth $55 billion, started out with a small investment of just $538.
The clothing company Threadless was started with two people who each put in just $500.
Even the technology company Dell started out with just an investment of $1,000.
If Dell was able to start with just $1000 then ask yourself: Do you really need $50,000 to start a business or could you do it with less? If you can do it for less, do it.
There’s nothing wrong with being frugal. A lot of great companies start out in the garage all the time and you should too.