6 Simple Strategies To Launch A Side Business Without Breaking The Bank

Matthew Henry

Want to start your own side business? Here are six simple strategies to make your first sales and scale your customer base.

There are few challenges as large and fear-inducing as launching a business, especially if you’re low on finances (or time) andholding onto a full-time jobto keep the bills paid.

For one, you’ll need to face the inevitable rejection that comes with launching a new endeavor. Then once you’re a seasoned veteran at clearing that hurdle, you’ll need to face a much more realistic problem—lack of funding to grow your idea.

There’s a reason why 69% of U.S. entrepreneurs start their businesses at home, and more than 77% rely on personal savingsfor initial funding. The reality is that it often takes money to make money, but the faster you can accelerate your customer acquisition—the sooner you’ll have dependable revenue coming in for your business.

That’s why we’re covering sixproven sales strategiesto help bring on your first paying customers without going into debt or seeking external funding.

1. Start with Small Niche Markets

When you’re just getting started, don't choose a broad market. Counterintuitive as it may seem, you can significantly increase the effectiveness of your sales pitch by picking a niche market that you have a deep understanding of.

Targetingspecific segments of a marketthat share common pain points will help you address their problems more effective and make your sales process easier. With the rise of inside sales and the variety of research tools at your disposal, it's easier than ever to uncover unique insights from your prospects and target your pitch to greater effectiveness.

As Pat Flynn, the entrepreneur behind the popular blogSmart Passive Income, shared with mein a recent interview, “It’s great to think big and shoot for the stars, but when it comes to niche selection, you can get more results, faster, by thinking specialized. Pick a market that actually interests you. The competition doesn’t matter at this point—just pick something you like.”

2. Be Flexible

As an entrepreneur, you’re proud of the product or service you provide. However, it can be easy to allow your pride to hurt your selling ability.

Your customers have unique problems and needs. If you structure your offer as a fixed solution, you’ll avoid adding useful feedback to your sales pitch, which would make it more effective in the future.

Matthew Henry

Want to start your own side business? Here are six simple strategies to make your first sales and scale your customer base.

There are few challenges as large and fear-inducing as launching a business, especially if you’re low on finances (or time) andholding onto a full-time jobto keep the bills paid.

There’s a reason why 69% of U.S. entrepreneurs start their businesses at home, and more than 77% rely on personal savingsfor initial funding. The reality is that it often takes money to make money, but the faster you can accelerate your customer acquisition—the sooner you’ll have dependable revenue coming in for your business.

That’s why we’re covering sixproven sales strategiesto help bring on your first paying customers without going into debt or seeking external funding.