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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
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THE STINGY STARTUP 5
CONTENTS
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Unless commitment is made, there areonly promises and hopes... but no plans.
Peter Drucker
CONTENTS
http://www.brainyquote.com/quotes/quotes/p/peterdruck121122.htmlhttp://www.brainyquote.com/quotes/quotes/p/peterdruck121122.htmlhttp://www.brainyquote.com/quotes/authors/p/peter_drucker.htmlhttp://www.brainyquote.com/quotes/authors/p/peter_drucker.htmlhttp://www.brainyquote.com/quotes/authors/p/peter_drucker.htmlhttp://www.brainyquote.com/quotes/quotes/p/peterdruck121122.htmlhttp://www.brainyquote.com/quotes/quotes/p/peterdruck121122.html -
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THE STINGY STARTUP 7
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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260
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Dedicated to my Mother.
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THE STINGY STARTUP 9
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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THE STINGY STARTUP 13
WELCOME
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"The way to wealth depends on just twowords, industry and frugality."
Benjamin Franklin
WELCOME
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THE STINGY STARTUP 15
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
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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!
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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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THE STINGY STARTUP 21
Use this section to reflect on the main
points of the chapter.
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THE STINGY STARTUP 23
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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THE STINGY STARTUP 25
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