Yes, many successful companies were launched with a significant amount of funding, but it’s important to realise that the prospects of a business’s success are not directly related to the amount of capital the company was started with. You really need less money than you think.
When starting out with limited resources, you’re forced to use this money wisely. I started my first company with just US $3 000 – a loan from my dad that I used to take a real estate course. This was a pivotal starting point for me, and it enabled me to go on to found my company, Renters Warehouse. It wasn’t a huge amount of money, but it was just what I needed, and it was well spent.
If you’re considering starting a business, a small amount of money can go a long way towards building your future success. Here’s how entrepreneurs who are big on ideas, but short on cash can get started.