How to Get Started When You Have No Money
Introduction
One of the biggest myths in entrepreneurship is that you need a lot of money to start a business. While capital can certainly help, what matters more is resourcefulness, creativity, and a relentless focus on solving real problems. Many successful startups began with little or no money—just a deep understanding of their users and a strong willingness to make things happen.
At Lorefully, we’ve been building in the open, and one of the most valuable lessons we’ve learned is that you don’t need massive funding to get started.
Instead, we focused on smart strategies: leveraging small amounts of personal capital, applying for grant funding, building a compelling demo with free tools, and—most importantly—talking to people to truly understand their pain points.
This blog walks you through how we got started with minimal resources and the key takeaways that can help you do the same.
1. Start with Small Capital and Leverage Grants
Starting with less than £500, we had to be extremely intentional with every penny. Instead of spending on things that didn’t matter yet (fancy branding, office space, or expensive software), we focused on what would give us real traction: validating the idea and getting initial funding.
Using Small Capital Wisely
We prioritised spending on only what was necessary—domain registration, basic marketing, and tools that helped us connect with potential users.
We avoided unnecessary paid services, using free alternatives whenever possible (e.g., Figma for prototyping, Notion for project management, and free email marketing tools).
We reinvested whatever small revenue we generated back into the business.
Applying for Grants & Winning a Major Project
One of the biggest boosts to our journey was securing grant funding. This was game-changing because it allowed us to develop Lorefully without taking on early debt or giving away equity.
We actively researched and applied for relevant grants.
We framed our project in a way that aligned with the funding organisation's mission.
We successfully won a major project worth over £90,000, which provided the fuel to take things to the next level.
Lesson 1: Even if you don’t have cash on hand, there are funding opportunities available—you just have to put in the effort to find and apply for them.
2. Talk to People Relentlessly
A startup’s most valuable currency isn’t money—it’s insight. And the only way to get real insight is by talking to people—a lot of them.
We spent countless hours reaching out to potential users, asking them about their biggest challenges, and understanding their pain points. We didn’t pitch a product (in fact it’s really important not to pitch at all); we just listened.
Why Conversations Are More Valuable Than Capital
They helped us refine our idea—we learned what people actually needed, rather than what we assumed they needed.
They gave us credibility—having spoken to so many people, we could confidently say, "We know this is a real problem."
They prepared us for fundraising—when we eventually approached investors, we had a wealth of real-world data to back up our vision.
How We Approached These Conversations
We cold-emailed and messaged people in our target audience.
We asked for referrals, using warm introductions to get to decision-makers.
We attended relevant events (virtual and in-person) to expand our network.
We never asked for money—we just asked for time and insights.
Lesson 2: You don’t need money to talk to people—you just need grit and persistence.
3. Build a Demo with Free Tools and Take It Back to Users
Once we had a strong understanding of what people needed, the next step was to create something they could see and interact with.
Instead of spending money on expensive software development early on, we built a prototype using Figma—a free, easy-to-use tool that allowed us to create a realistic demo without writing a single line of code.
The Power of Showing, Not Just Telling
A prototype made it easier to get feedback—users could see the product rather than imagine it.
It validated our vision—people got excited when they saw their ideas come to life.
It helped us attract funding—investors prefer seeing something tangible over hearing abstract ideas.
Taking the Demo Back to the People Who Expressed Pain
We went back to the very people who initially shared their struggles and said, "Here’s what we built based on what you told us. Does this solve your problem?"
This step was crucial in gathering interest—many of them became early adopters.
It helped us refine the product even further.
It provided early proof of demand, which was critical when we started raising investment.
Lesson 3: You don’t need to build a full product before getting feedback—start with a demo, test it with users, and iterate.
4. The Hardest Part: Getting an Indication of Interest
At this stage, we had insights, a prototype, and an initial group of engaged users. But to raise real capital, we needed indications of interest—proof that people were willing to pay.
How We Validated Interest Before Raising Money
We asked people, "Would you pay for this?"
We tested pricing models based on feedback.
We identified early adopters who were willing to commit.
What Investors Actually Care About
A clear pain point—Is this solving a real, pressing problem?
Market validation—Are people genuinely interested?
Early traction—Even a small but engaged user base is powerful.
By the time we approached investors, we had all three. That made fundraising much easier than if we had started pitching with just an idea.
Lesson 4: Don’t rush to raise money—prove interest first, and investors will take you more seriously.
5. Lessons from the Journey
Reflecting on this journey, here are the biggest takeaways:
Resourcefulness > Resources – Money helps, but persistence and creativity matter more.
Talk to people early and often – Insights from real users will shape your business.
Start small, test, and iterate – Build a demo, gather interest, and improve based on feedback.
Funding follows validation – Get an indication of interest before seeking investment.
Conclusion
If you’re looking to start something but don’t have much money, don’t let that hold you back. Focus on talking to people, leveraging free tools, securing grants, and validating interest.
We’re continuing to build Lorefully in the open, sharing lessons as we go.
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