If you ever only thought that you need tons of money to start a business, I will be showing you incredible tips and suggestions on how to start a business with very little, or even no capital at all. Lack of startup capital has been a common excuse for not starting out on a business venture, even on a very solid business idea. But the truth is that you would need to possess something I will be talking about in the next paragraph to get your business up, and congratulations, the world is at your feet!
There are so many great businesses that started with almost nothing. From Nike to Dell, and even Apple. These guys started their businesses in either their dorm rooms, garages, or car trunks. But these abnormal guys (really abnormal guys, especially Steve Jobs of Apple) possessed one thing that totally separated them from normal people, and that one thing is desire! In Think and Grow Rich, Napoleon Hill talks about burning desire, and how that is the first step to acquiring riches. Timeless truth and it still holds true till today.
Okay, you’ve got the desire, but still wondering how to start your business with no capital? Sit tight, let me show you great tips on how you could just pull that off.
Suggestions on how to start a business that requires little or no capital.
1. Do something you’re very familiar with
Learning a whole new skill might be very demanding and costly, both in terms of time and resources. But sticking with what you know, and improving on it could be really key to starting something worthwhile. List out your skills, identify which ones you find really interesting and you’re really passionate about, and think about starting a business in that line, or a business that teaches that skill.
2. Start a service-based business
Now, this is very effective as you could render services that don’t really require expensive machinery to run. There are of course service-based businesses that just require very basic skills. And of course, others that are more sophisticated, like advanced web-designing, programming, accounting, and so on.
3. Start businesses that require little to no capital
You could practically start a blog today at absolutely no cost. Have a message or idea? How profitable is that niche? Do you have a solid marketing plan, and monetization techniques? Then, this is a great one to start.
How good are you when it comes to computers? There are a lot of people that are ready to pay for what you know, even if you don’t meet. Thanks to services like Skype.
Are you very skilled in putting words together, and do you have great research skills, too? A poll taken in the USA a few years ago showed that 70% of the population wants to write a book someday. But when asked why they don’t have a book yet, they attribute it to either lack of time or a lack of a solid grasp of captivating writing skills. There is a huge market out there if you could just create a business that translates people’s ideas to very wonderful eBooks.
(Well, we would have mentioned other businesses that require little or no capital to start up with, but we promise to update this list as frequently as possible.)
This is the backbone of any business’ survival. Ignore this, and you may, in fact, go bankrupt in absolutely no time. Sales keep businesses moving, so, it is not too early in your business to begin working on sales techniques and revenue building.
2. Ask for Help!
Don’t assume you know it all, you may just be setting yourself up for some serious trouble. Network with other people that may be in the same line of business and share lessons and experiences, it will sure take you a long way.
3. Gain Visibility
This, oftentimes, is directly proportional to how much sales you’d make as a business. Reach out to friends, family, co-workers, and anybody you know. Explain your business to them, even if they are not your target customers. They may be the only ones at the start of your business venture that may recommend your business to people who need your services. Other aspects include joining forums, mastermind groups, partnering with influencers, and many more. Get word out about your business out there, and expand your customer base.
And there you go! How to start your business with little or no capital. But while it’s very possible, it definitely would take a lot of patience, smartness, and dedication to make it a massive success. Most importantly, be able to identify your strengths; what makes your business different from others, and capitalize on maximizing it. That is how phenomenal businesses break through.