So you’ve researched your local market, considered all the pros and cons, and you’re convinced your business idea is great. With $50 or less, he can start his business and be well on his way to success.

1. Get a library card. This valuable card is free and will give you access to the Internet, computers, printers, copiers, business books, magazines and more. You will likely need a photo ID (state issued) and mail addressed to you that has been processed through the postal system with a date stamp. FREE

2. Establish a business phone. Be sure to answer the phone in a professional manner every time it rings. A prepaid cell phone works well for this. COST: $20.00

3. You’ll need business cards…lots of them. There are many different methods for this, from the do-it-yourself type at Staples to very high-end cards. To get started with a good quality card, Vistaprint.com is a great place to start. You can design your own card and have 250 business cards delivered to your door for $5.67. Take them with you everywhere. In your pocket, your wallet, purse, car, desk, etc. Don’t leave home without them. Use them to schedule appointments, provide your phone number, email address, make an offer, and more. COST: $5.67

4. You will need a website. Have you ever noticed how high directory-type web pages rank in a Google search? Merchant Circle is among the best. Be sure to list your business on Merchant Circle.com so potential customers know about you. Even if you decide to branch out and build a stronger site, Merchant Circle can help you drive traffic to your official site. It’s a great tool, and it’s free. Need to buy/sell online and get paid online? Before you spend thousands of dollars on a web developer, test your concept for free on eBay, Amazon, and Paypal. They have a ready audience and great tools to attract customers to their products online. FREE

5. Word of mouth is the best advertising. Let everyone know you’re in business by sending an email or posting on a social network (like Facebook) with an offer. For example, “Mention this email and receive 10% off ______.” You might also consider offering a referral rewards program. Whatever the promotion, make sure you’ve carefully considered your markup. A general rule of thumb is “if all customers used this promotion, would I still make a profit?” If the answer is yes, your numbers are probably reasonable. FREE

6. Perfect your speech. What is your job? In 30 seconds or less, you should be able to present your business in a warm, friendly, and no-pressure manner. You think you’ll know what to say, but most people don’t. Instead of running out of words and losing your listener’s interest, practice out loud exactly what you’ll say when you get the chance to tell someone what you’re doing these days. Say it with a smile and a bit of humorous confidence, and take the opportunity to hand out a business card or two. FREE

7. Advertise your business. Oh! Now you’re going to have to spend money… a lot of money, right? Fortunately, there are many easy and very affordable ways to advertise your business. COST: $8.00

The recommended methods are:

• Post flyers at local establishments that provide bulletin boards for this purpose. Great places to find these opportunities are retail stores and churches. (Copies: 8 cents per page at Staples. 100 copies = $8.00)
• Offer to speak at meetings of local civic organizations. Groups that meet frequently tend to be receptive to guest speakers filling their breakfast and lunch venues.
• Offer to provide your service for free to a group or organization for a short period of time. This will give you the opportunity to hone your skills and gain valuable feedback that will help you grow your business.
• Offer to be a guest speaker on a local radio or television show. Some radio shows offer a segment where business owners can call in at a certain time to deliver their speech to listeners.

8. Good coffee. Or a movie… whatever your favorite way to relax and recharge, you’ll need it. Starting a business is very hard work and there will be times when you wonder if it is worth it. Take a few bucks from your remaining $18 to have some fun and energize yourself towards your vision.
COST: NO PRICE

See you at the top!