Guide to Start Your Tech Company Without Any Money

No doubt starting a tech company without money is almost an impossible task because every startup requires a setup cost to establish itself on a prominent scale. However, there is every possibility when you can start a tech company without an investment. Isn't it sounds strange? Yes, it is. In this article, you will learn the strategies to start your tech company without any money. So, let us discuss: 

How to Start Off

Before starting, every founder goes to incredible lengths to stretch every penny to be frugal as a bootstrapped company. Therefore, being a founder, you must file to become a C-Corp only when you either have a product, costume, or revenue. Because the registration process will cost you a lump sum amount along with taxation. For instance, if you desire to run a custom software development company, then, firstly, you have to register your business. 

So, start with building the product because, at no cost, you can merely write a code to form the foundation of your company. However, you need to invest proper time to write bug-free code. Make sure either you have a technical background or partner with people who have enough experience in the technical stream.

Sell Before You Have a Product

Selling goes hand in hand with building a minimum viable product (MVP). As before dedicating hundreds of hours to develop your product, you can sell on your solution to potential customers. Contact the target market to pitch your idea and to know the interest of your audience. However, express your idea in a manner as if you have already built it. If they like your opinion, do not hesitate to ask for money. 

Tell your audience to purchase an account now, so they receive a significant discount in comparison to the time it launches. Though there are various ways to approach a client, it is essential for you to accept pre-orders for your product. In this manner, you can comfortably move out of the ‘starting a tech startup with no money’ situation along with getting some flexibility and validation in the early stages. Furthermore, it will help you set up your business.

Outsourcing of Talent

Though outsourcing of talent plays a crucial role if you want to build your product or grow your team, without having money, you must not expand your company. So, find co-founders who can either attend meet-up events or leverage your network for the skills you require. 

Marketing

Most people think product building is the hardest part. In reality, it is not. Because your actual work starts once you finish the product. Now the game is how to build the presence of your brand. For this, multiple startups raise millions of pre-launch and immediately pour thousands into ad campaigns which result in failing the companies shortly. Because you should not invest much until you have sufficient funds with you. 

Though having no money puts you at a disadvantage, but teaches you how to guerrilla market and grow your audience organically with the help of the grittiest techniques. Also, with these tactics, you can reach your users, and increase your user base without spending a considerable amount of money. Below are the steps to follow to promote your brand:

• Target Your Market Online

To launch a product online, visit the list of communities where your target market hangs out more. For your reference, check out the below list of popular communities:

• Facebook Groups
• Slack Channels
• Quora
• Specific Platforms Concerned With Your Target Market

 

• Launch Your Product On Websites

It would be best if you launch your product on sites which are free to use and result in a ton of publicity. For more information, visit the below popular websites:

• Product Hunt
• Hacker News
• BetaList

 

• Attend Meet up Events 

To grow your business, you must have enormous connections. So, to make personal relationships, attend meet up events involving your target market.

 

• Develop a Good Partnership

If you form mutually beneficial partnerships with companies and organisations, then you can grow more in less time. Also, only a good collaboration leads to great clientele. So, develop good communication with your colleagues. 

• Never Avoid Opportunities For Money

There are instances when you can gain a ton of money from the market for free such as open pitch competitions happening in nation-wide and locally. Depending on how entrepreneurial you feel, you can participate in these drives to source money for your startup venture. However, always try to operate the company at a low cost due to many of the techniques described above. Make sure you do not avoid opportunities for money. 

Conclusion

No doubt starting a startup without spending a single penny is a difficult task; however, you can make it happen if you pay a little attention towards doing everything. Also, follow the strategies mentioned above to fund your startup and grow it in a healthier manner.