Destiny’s Child once sang “Ladies, it ain’t easy being independent.” And they were not wrong, especially if said lady wants to enter the often cutthroat and unforgiving world of business. When a high-achieving woman is struck by a spark of inspiration to start her own business, she has stumbled upon the means to liberate herself. Liberated not only from the rigors of a 9-5 job she doesn’t enjoy but often slaving in a company that doesn’t value her and provides little to no opportunity for her to make a name for herself on her terms. The problem is that aspiration comes at a price. In a world where basically everything is a commodity, those who aspire must pay a cost that can come in many forms. It may come in the form of a hefty student loan or at the expense of a business development loan.

Many lenders (especially banks) are extremely gun shy when it comes to lending money to people starting a business who represent unknown commodities. Thus, unless a woman already has significant capital of her own, few lenders are willing to match or exceed her contributions to the business, no matter how brilliant, original and innovative her business plan may be. But when one door closes on you, that’s no reason to give up on your dream.

If you’re committed to your goals, know that it is possible for you to get your business off the ground independently without borrowing a penny. For you to have a chance going this route, however, you may have to make some significant changes, starting with tweaking your business plan.

Scale It Down

To make your business happen the way you intended initially may be a costly enterprise, but is there a way to scale it down so that it can be launched without hefty capital investments? If so but you’re unsure of how to get started, check out these startup ideas that take zero cost to get off the ground. Identify ways in which you may be able to incorporate elements of these tips into your original business plan. Strip away the bells and whistles and ask yourself what you want your business to look like long and short-term. If you can scale your idea back to exist solely in the digital realm, for example, you’ll instantly be able to save a small fortune in overhead. Speaking of which…

Proposed Overhead Negotiable?

Starting a business is a significant undertaking. You likely saw yours one particular way when formulating your business plan. However, if you’re unable to borrow large sums of capital, it may be necessary to release your preconceived notions of what your business will be (even if only temporarily). One of the best ways to scale down your business is to take a long look at your proposed overheads and ask yourself if you really need them. Do you really need that expensive brick and mortar store or prestigious city center office space? Consider looking for a small office space for rent or converting a room in your home into an office.

Growing Your Brand Needn’t Cost A Thing

There’s no denying that establishing a recognizable brand is integral to business success. However, this needn’t come with an enormous marketing bill or having to spend a fortune on search engine visibility (SEO) expenses. Grow your following on social media and find organic ways to boost your search engine visibility.

Female entrepreneurs are taking their businesses to a new level these days, and there is no reason why you, too can’t be a part of these success stories. Keep going, high-achiever. Keep growing!

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