How to Start Up with Almost No Money

"It takes money to make money", so they say…

But startups are for everyone! At least, that's what I've been telling myself for years. Much of it has to do with attitude.

Here are a few guidelines to beating the odds:

1. Intent:

Being poor doesn't take away a person's right to dream. This is a basic principle. We have the right to life, liberty and the pursuit of happiness, and what is life without happiness? If you don't believe in yourself, no one else will. Like when you shoot a basketball into its hoop, it's not so much the mechanics of your motions, but the intent which allows you to reach your goal. Much of this has to do with concentration.

My advice: write your goal on a piece of paper. Read it aloud every day. Even better, choose a song (or write your own) that explains how much you want to succeed, and sing it every day for a year. Most importantly, while you state your goal, focus your intent as much as possible.

2. Don't be a slave:

In other words, don't go into debt! In the U.S., on average, students finish a 4-year university degree with $100,000 in debt. I consider this indentured servitude. Don’t do it!  In other countries, tuition can be as low as $200 a year, or free! Don't be afraid to take the path less traveled and study somewhere more affordable. I studied in France and only paid €150 (≃$170) per semester. When I came back to U.S., I hit the ground running.

3. Inventive step:

In order for a patent to issue, it has to meet three criteria: It has to be novel, applicable in commerce, and it has to have an inventive step (non-obviousness). The same is applicable to entrepreneurs. Investors hear pitches all day long. How are you to stand out in the crowd? What is unique about your value proposition? Leading a vision implies taking direction, and that course should be clear from the beginning. Without a great idea, it’ll be difficult to succeed with very little money.

4. If you can't afford it, try to get it for free.

This applies to anything. You may find pro bono legal advice for your patents and trademarks, as I have done. Ask your friends to help you plan events. If they are good friends, maybe they’ll help without expecting to be paid (a lot, or at all)! If you can’t afford to rent a space for public demos, which can be very expensive in a place like San Francisco, try finding a hackerspace, tech lab, community center, or even a meeting room in a public library where you could hold the demo free of charge, or at reduced rates.

5. Network with the right people in the right place.

One of the best decisions I made was moving to the San Francisco Bay Area. The network here is dense. As a result, I’ve been able to find a developer, mentors, an awesome copy editor, and a wide range of services and support from my community. When dealing with people in the Bay Area, my main piece of advice is that it pays to be nice. Sometimes you’ll run across an old hippie, and as far as you know, he may be a super genius. When dealing with people, don’t take anything for granted. If people learn to love and trust you, everything becomes possible.