Could You Do It With Less?

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.

Not true.

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.

 

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16 thoughts on “Could You Do It With Less?

  1. another area where being frugal makes a huge difference is retirement. Most of us live above our means and use credit cards to maintain a certain lifestyle or we trade in our car for a new one when we don’t need to or eat out way to many times a month.
    When we decided retirement was not that far down the road we set our goals. One to have our home paid for and another to have car paid for and pay off credit cards each month! We then figure out what it would cost each month to live and try living on that. In 10 years we accomplished our home, car and credit card goals and found we could live on less than we had set for ourselves and yet live very comfortably. We actually found we could live on our social security each month and use the retirement funds for emergencies and special occasions or trips. We no longer have $600. a month dining out bills or 3 day trips every 6 weeks but when we do these things now they are very special.

    Liked by 1 person

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