How To Start A Business With No Money (Step By Step)

No money but want to start a business? Watch this...

When you're starting a business with no brand, no money, and no leads, it can be overwhelming. It's like pushing a heavy stone wheel that barely budges. To get momentum, you need a gritty, hands-on approach that most entrepreneurs avoid. Here's a breakdown of how to build an audience and generate leads from scratch without spending a fortune.

Paid advertising can be tempting, but it's not the best starting point. If you haven't refined your message or product, paid ads can quickly drain your budget without results. Instead, focus on manual, targeted efforts to find your audience and test your messaging.

Three key elements form the backbone of this approach:

1. Call to Action (CTA): Give people a clear action to take. This could be a waiting list, a scorecard, an event registration, or a discussion group. Just like a party invitation, you need to provide a reason and a way for people to engage.

2. Signature Content: Create a piece of content that explains your business's core thesis. It should include the problem you solve, your unique solution, and proof of success through case studies or research. This becomes the anchor for your outreach efforts.

3. Cold Outreach: This is where you reach out to people manually through direct messages or emails. It might feel uncomfortable, but it's crucial to build relationships and get feedback on your signature content and CTA. Cold outreach should focus on sharing what you've accomplished and inviting people to engage with your CTA.

For cold outreach, you need to target the right people. Look for those who follow relevant Instagram accounts, use specific hashtags, or have job titles that fit your ideal customer profile. Start by sending 3,000 direct messages, introducing your business, and inviting people to check out your signature content and CTA.

Even successful entrepreneurs who have made billions still get hands-on with their customers. They understand that the best way to learn what works is to engage directly with people. So, roll up your sleeves, send those messages, and don't be afraid to get your hands dirty.

This approach might seem tough, but it's what separates successful entrepreneurs from the rest. If you're starting with no budget, this is the strategy to get the wheels in motion. Remember, entrepreneurship isn't about taking shortcuts; it's about doing the hard work to build something valuable.

[drr]

Super helpful thank you. Just building my health coaching business. Working on my signature content. Designed a waiting list landing page. Trying to slowly build social media presence. Thinking about webinar content. If my niche doesn’t pan out, I can easily pivot the content to another health coaching niche.

The thought of cold outreach gives me the shivers 😂. Time to put my big girl pants on.

[CaribbeanEmbassyUKTV]

Summary
- Step 1. Prepare Assets [Call to Action + Signature Content]
- Step 2. Prepare a list of targetted audience
- Step 3. Send personalized direct messages to audience + include signature content + call to action

TimeStamps
1:57 - 1. Call to Action [Waiting List / Scorecard / Event / Discussion Group / Registration of Interest Forms]
2:42 - 2. Signature Content [Problem / Solution / Background / Proof / Traction / Academic Research / Case Studies ]
3:13 - 3. Cold Outreach
3:50 - Cold Outreach > Signature Content > Call to Action
3:54 - Audience Targeting
4:15 - Promoting Past Achievements + Call to Action
5:31 - Send 3, 000 DMs

Quick Maths
3, 000 Cold Outreach
- 20% of the audience move to the next step
600 Signature Content
- 20% of the audience move to the next step
120 Call to Action
- 20% of the audience move to the next step
24 Clients

[veselin.kostov]

A tip for the cold outreach🥶 - try to make it "hotter" 🥵 Make sure that on top of personalization, you also add free value for the person on the other side. It might take longer, but it will increase conversion rate!

[Startyourownbusinessacademy]

Hi Key Person of Influence,

What I gathered from your video is that there are no shortcuts when it comes to the fundamentals of running a business. I appreciate the emphasis on the Direct Mail process as a means to reach new clients. When combined with the promotion of signature content, this approach provides startups with a robust process for launching a business.

I would like to add that anyone starting a business should ensure it aligns with their gifts, talents, skills, and experience. This alignment can help guarantee the resilience needed to weather the inevitable challenges.

Thanks so much for creating this video!

[EcomCarl]

Spot-on advice about the importance of refined messaging before launching paid campaigns! Building authentic relationships through cold outreach can indeed set a solid foundation for sustainable business growth. 👍

[WorldOfEmm]

Thanks Daniel - every piece of content is gold!
1) Which CRM system would you recommend?
2) can the signature content be a video or is a PDF/text preferable?

[yeahweburnstuff]

Good morning from sunny London!
Thanks Dan, this is straight to the point and actionable.
You do practice what you preach, and that is rare.
🙏🙏🙏

[andymckechnie]

Really informative email here. Thank you very much. I've made a heap of notes and feel for the first time I have real clarify on how to start building my business. Practical no BS coaching. So refreshing!

[michelleytalbert]

I just got my book! Key Person of Influence. Looking forward to applying principles.

[ammar-akram]

hahaha the plane and filling up the fuel tank ... i just love the examples and analogies you come up with

[seennosun]

Loving this, and enjoying your book right now. Hopefully I'll meet you to tell my story

[EmmaCartmell-hpth]

Great video Dan - love how specific you are with the formula and the actual wording of the DMs! (PS - It's like you read my mind....can I outsource this? Message received and understood lol!!)

[ZumJm]

Amazing! Can this approach work for those doing ecommerce?

[fernandocasella]

Thank you! Great advice and very valuable information. As always.

[haskellcameron]

Incredible video! Priestley is a legend 💯

[heydaviduribe]

Thanks for the honest answer, Daniel. Now give me the easy answer where I just show up and people give me money.

[israelporras]

great content, my business is based on the experiences you share here. Thanks

[FrancoDeMori]

Awesome vid, and perfect for where I'm at. Thanks Daniel 🙏🏼

[the_monicabaker]

Any tips on not getting flagged for spam while you do the 3, 000 cold outreach? Keeping it to certain numbers a day? Also, best ways to get this list of people to reach out to?

[Forbidden.fitness]

Let's goo Dan, loving the content 💥💪