the stingy startup

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THE STINGY STARTUP


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THE STINGY STARTUP 3

Published by StingyStartup.com

Editor: Claudette EnnevorAll cartoons produced usingStripgenerator.

Copyright 2013

All rights reserved.

ISBN-13:

978-1491034484

ISBN-10:1491034483
http://www.stripgenerator.com/http://www.stripgenerator.com/http://www.stripgenerator.com/


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CONTENTS


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Unless commitment is made, there areonly promises and hopes... but no plans.

Peter Drucker

CONTENTS
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Welcome

All About You

Realistic Goals

Product Choice

One Minute Pitch

Who You Know

Social Media

Website & App

eBay & Markets

So Start Already!

Legal Essentials

Keep it Steady

Select People

Cash is King

Customer is God

Where is the End?

About the Author

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23

35

51

69

81

103

123

139

157

169

185

203

221

233

249

260


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Dedicated to my Mother.


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ACKNOWEDGMENTSLi Qi,

Prof. JB Kassarjian.

With special thanks to:

Paul Meagher,

Robert Fitzgerald,

Prof. Janelle Schubert

and Prof. Allan Cohen.


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WHO THIS BOOK IS FORThis book is designed for the everyday entrepreneur

you will most likely have a burning desire to start a business

but limited resources. The Stingy Startup is for everyday

people interested in the most natural process in the world,creating and selling stuff to other people in order to make a

living. People have been doing this since society began and

todayit is easier than ever before. The Stingy Startup will

show you how. You could be:

Working Full Timelooking to make the leap.

Working Part-Time

looking to augment your income.

Stay at Home Parentwho have some chunks of time

available during the day.

Recently Unemployedwith no luck on the job hunt.

Studentswanting additional income during semester.


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WELCOME


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"The way to wealth depends on just twowords, industry and frugality."

Benjamin Franklin

WELCOME


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Starting a Small Business with No Money

We all feel it. Were living in the age of austerity. We

are all short on cash. But, the good news is that The Stin-

gy Startup likes austerity. The Stingy Startup knows that

actually, right now, we have more resources on this planet

than ever before in history. In fact, most of the resources

you need to start your business are within your reach, theyare free and readily available. It may well be why there is

a recession, everything has become free and the economy

is waiting for more Stingy Startups to kick start the next

wave of innovation. Could that be you? Now is the time

for The Stingy Startup. Starting a new business with the

Dont just skim for nuggets the magic

is in understanding the whole picture.

Mr Stingy Says

Dont just read my speechbubbles, read the whole book!


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principles of stinginess not spending any money and not

asking banks or lenders for any moneybut instead, we fo-

cus on fresh ideas, products or services and use resources we

havethis is the greatest service you can do for our economy

and society.

This is a 16 step guide to creating a small business with

no money. Remember this: if you have gone into debt, tak-

en out a credit card or asked friends or family for an

"investment" on your next big idea, then, you're doing it

wrong!

Anyone can start a small business, begin to make an in-

come for themselves and become independent - with no

money. The resources are all herealso, on our website:

www.stingystartup.com, you will find direct links to free use-

If youve gone into debt or borrowed

money then you are doing it wrong.

No way!

Mr Stingy at the Bank...

Come into theBank & a geta credit card.

WELCOME
http://www.stingystartup.com/http://www.stingystartup.com/http://www.stingystartup.com/


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THE STINGY STARTUP 17ful resources and websites and forums to help you connect

with other stingy entrepreneurs. Your goal is to get your

first sale as soon as possible. Reading this book should besimple and straightforward. You should have no difficulty

reading it within 1 or 2 afternoons. But, you should take

notes and come back to it as you refine your thinking. We

have a reflections section at the back of each chapter which

gives you the opportunity to think about the main topics of

each chapter.

This guide is focused on guiding you through the first 6

months only. You want to get to the point within 6 months

where you have a steady stable source of additional income

for a clearly defined set of activities a regular routine or a list

of daily or weekly tasks for your business. These tasks will

Your 6 month goal is to create a steady

stable source of additional income.

Mr Stingy is focused!

I only think about the next 2

weeks and next 6 months.


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form the basis of a job or a number of jobs that you can cre-

ate. Your goal is to get regular sales and demand for your

products or services and it may well be that initially you are

the one making the products or delivering the services but

the idea is that within 6 months you should be in a positionwhere you can decide whether or not to hire people and to

grow the business. It is always vital to remember, that The

Stingy Startup does not spend money unnecessarily - your

goal is to save as much money as possible for later if and

when the business really needs it. So, if you decide to hire

someone, that should beyourdecision. You are not depend-ent on money from investors, banks or others. Does this

make sense? If the message is getting through then you

should feel more relaxed and ready, now. You are not look-

ing to impress anyone except your customers, you dont need

Your number 1 goal is to get your firstsale within 2 weeks from today.

A Stingy one track mind...

SALE!Sell!

WELCOME


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THE STINGY STARTUP 19to go cap in hand to anyone and if anyone comes to you,

you can always say, sorry mate, Im stingy, its who I am.


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STINGY SUMMARY/REFLECTIONS

If youve gone into debt or borrowed money then

you are doing it wrong.

Your 6 month goal is to create a stable source of

additional income..

WELCOME


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Use this section to reflect on the main

points of the chapter.


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ALL ABOUT YOU


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"Thrift is not an affair of the pocket,but an affair of character."

S.W. Straus

ALL ABOUT YOU


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It all starts with you, what are your strengths?

We want you to start with a simple question, what re-

sources do you have? For example if you are in the kitchen

and you have a few dozen ingredients, but no money - you

can't go to the supermarket, so, you improvise, and create

something interesting with the ingredients in your cup-

board. Maybe you dice an onion and a pepper, fry them upand whisk in a couple of eggs and youve got: a Spanish

omelet! That is the principle of The Stingy Startup. The

Stingy Startup is not interested in spending any money and

only wants to use what resources are in hand. Basic every-

day ingredients only, nothing fancy. Keep it simple.

Dont shop for new ingredients for a

recipe, improvise with what you have.

Chef Singy saysCooking with Chef Stingy

I dont buy exotic ingredients.

I make do with what I have.


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Assemble a list on a piece of paper. Write down all the

resources you think you have and organize them into three

main groups, 1. skills, 2. resources, 3. people you know.

The next few pages will give you some ideas. But, its

best to follow along actively participating and thinking rather

than to just read passively, so, get out a piece of paper!

Your number 1 goal is to get your firstsale within 2 weeks from today.

Mr Stingy gets organized

Its easy, make a list!SkillsResourcesPeople

ALL ABOUT YOU


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THE STINGY STARTUP 27The skills that you have could relate to you being able to

produce or make a product for example you could have

invented a new type of light bulb, or it could be more simple,like you can construct a shed or cook omelets or you are an

expert potter or can produce candles ; or you know how to

do something and can deliver a service for example you

could be great at preparing household budgets or you could

be a wonderful gardener or can walk dogs, teach karate, per-

haps youre a physiotherapist or an expert on a topic likecomputers or computer games and can write articles or offer

support services. Or you could be a good negotiator, some-

one that can organize a good deal or partnership with some-

one who produces or delivers a service. This ability to con-

verse with others is a skill you can learn and The Stingy

Startup will help you by providing relevant examples. It will

be useful for you to find other service providers or produc-

Skills: make, do, talk.

Mr Stingys Skills

I can make things, do things

and I can talk with people!


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ers, to find vendors and most importantly, to talk with your

customers.

Resources could be anything from ingredients for muf-

fins for your muffin delivery service, or any ingredient for

any product or service you are thinking of creating or deliv-

ering like wood or nails, seeds for planting, light bulbs, can-

dle wax whatever it may be. You can also list creating

websites, apps, social media pages and having access to eBay

and other vibrant markets as resources as they are freely

available in upcoming chapters we will show you where

and how to access these resources. Resources also include

spaceyou can work out of like a room for an office or a hall

to practice karate, or a nearby park you can walk dogs in if

you are delivering a dog walking service. Finally, list what

Resources: Ingredients,

Space, Equipment

Mr Stingy has Resources

Everything I need to run my

business I already have!

ALL ABOUT YOU


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THE STINGY STARTUP 29equipmentyou have such as a computer and internet access,

smart phone, a special table for doing physiotherapy, knives

for carving candles, a lawn mower, shovels or trowels forgardening jobs.

Finally, your list of people you know of could include

vendorslike the owner of a local caf where you would like to

test out selling your muffins, or a local garden store where

youd like to market your home made pottery - or people

who could be communitygatekeepers who can provide you

access to potential customers like a PTA member or Church

leader who organizes events regularly and may be willing to

let you bring in your new product to events at a discount

price so you can test out your new business idea. Or they

could be potential partners, another business owner who

People: vendors, gatekeepers, partners,

key customers and customers.

Mr Stingy Likes People

Im the

King of

Networking!


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might be able to connect you with contacts who can supply

discounted products that you could sell. Finally, you could

know some keycustomersor even have a list of a range of cus-tomers yourself that you can approach directly to see if they

would be the first or pilot customers for your new small

business.

There are no wrong answers here: the main objective is

to get you to start thinking of all the different strengths you

have and how to organize them.

ALL ABOUT YOU

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