How To Launch Your New Business For Less Than $1,500 Ross | September 24th, 2013

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Many entrepreneurs delay launching their startup because they believe they don’t have enough money to move forward. Startups can be expensive, but they don’t have to be.

The Founder Institute, an early-stage startup accelerator created an infographic (below) showing, in 10 steps, how you can launch a business for under $1,500.

Incidentally, I’ve mentored at Founder Institute for the past three years. If you’re looking for some help in launching your business, take a look at one of their programs.

As the Founder Institute points out, “the first six steps of the 10-step process are dedicated towards making your startup look professional and legitimate to an outsider.”

  • Step 1: Get a professional domain name and email. We recommend using name.com for domain registry, and Google Apps for your email.

  • Step 2: Produce wireframes and mockups of your site. Start to plot the key functionality of the product and think through how it will look. Protoshare and balsamiq are both great options.

  • Step 3: A professional logo is a must! If you’re not a professional designer, services like Elance and Crowdspring can connect you with great logo designers.

  • Step 4: Create a simple, rudimentary pitch deck with PowerPoint. Your slides should be simple, and must include your vision, market, product, revenue and team.

  • Step 5: Launch a landing page, or simple site to start bringing your brand together, and capture leads. Include your logo, description, screenshots or mock-ups, and an email sign up form. To get you started, we recommend services like launchrockSquarespace, or unbounce.

  • Step 6: Create and posting on a company blog. Blogging shows the world (and most importantly, search engines) that you are alive! Set up “blog.yourcompany.com”, and start posting 2 times per week on industry news and your company progress. We recommend using WordPress or Blogger to get started.

  • Step 7: Test your marketing using a service like AYTM to survey your target market, and then run a variety of online ads to discover the propositions and keywords that resonate with them. We also recommend using Facebook and/or Google ads to laser-target your desired customer, testing multiple marketing messages and value propositions in both the ads themselves, and the landing pages that they point to.

     

The full infographic follows.

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  • http://www.bizsugar.com/ Heather Stone

    Hi Ross,
    I’m a real fan of bootstrapping, and, at this level of startup cost, that’s exactly what we’re talking about here. Certainly, tools like Crowdspring are an immense help, but what’s your take? Is bootstrapping more talked about now because the level of technology makes it more possible than ever before? Or has it always been just a matter of entrepreneurs finding creative ways to make things happen? Love to let this conversation evolve naturally. Can you give me your thoughts over in the BizSugar comment section so the rest of the community can get in on the discussion?

  • Arnaud Bilquez

    Hi Ross, Interesting links and tips but overall not a good idea to have people think they can shoot $1,500 to launch a project unless you then intend to call later for crowfunding. Nothing you can really do IRBL (In Real Business Life) online under 20$K to last at least a year. And that is the minimum.

  • Ross Kimbarovsky

    There are outstanding examples of people who bootstrapped their businesses without outside funding, not to mention crowdfunding (which is a pretty recent phenomena anyway). Why do you think it takes a minimum of $20,000 to start a business today?

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