Starting a business without initial capital
Introduction.
The most common reason why many entrepreneurs advocate not starting a business is because they don’t have money. What to do then? To whom to turn? Open and manage your own business is not only a way to earn money, but also a way to achieve your dreams in life and find your personal fulfillment. This path is not the easiest, but it is the path that the greatest entrepreneurs in history have chosen.
While it is easier to start a business when you have important savings, it is also possible to start a successful business from the bottom up, with intelligence, persistence and dedication, even if you have no money. If you are willing to work hard and learn from your mistakes, you have this unique opportunity to build a successful business that you will be proud to possess.
Developing.
In all countries, there are public organizations to help entrepreneurs. In the additional resources section, you will find how to communicate with the organization of your country. I know you can choose loans, loans among so many alternatives that we already know. But if none convinces you, I invite you to focus on earning money and not rushing to open a place in a hurry, improvising without having everything in order. Let’s look at what you should do:
What I need? It is the first thing that must be asked and the answers will create a great list of everything we will need. With what story is it time to take this list and see what we already have there so that it is not necessary to invest there. So we will know what we need. When you look at the amount of things that have decreased, we need to invest less. What can I replace with something cheaper or free? We continue to reduce the number of elements on the list. Here we have to see why we have another alternative. Such as advertising. We do not need to pay radio ads, television ads because we can focus on social networks to market our business at this time.
But it is a very personal process, it depends on your business. The idea of all this is to maintain a list as small as possible because we have no money to invest! Also, if there is something that is not essential and our business can work without it, we can eliminate it. Keep your current work. By maintaining a safe income, you will no longer have a source to worry about losing your mortgage and the possible debt mountain. However, you have to work very hard.
Ideally, at the beginning of your business, you can gradually change full -time work in your work prior to consulting or part -time. Over time, you can work full time in your own company. Although this process is not usually so easy in reality, it is almost always safer than giving up everything to get a dream that has not yet come true.
The first step is much more important when you need to keep your family. Do not risk the future of your family renouncing your main source of income to pursue your dream. It is difficult to balance your business project with your current work and family life, but it is much safer. If you are looking to open a business in the near future, avoid signing a employment contract with a clause that limits your ability to find another source of income. Communicate with a lawyer to review the agreement.
Make a business plan. How can you earn money? If you can’t answer this question, don’t start your own business. The objective of any profit institution is to make money. Because of this, you must have a detailed plan before you can start a new business. Try to answer the following questions. MAKE AN ANALYSIS OF THE COMPETITION.
Who is your competition How much do they charge for the product or service you offer? Can you really offer this product or service at a higher quality level or a lower price? If so, congratulations, you can succeed. Do a market study you want to enter and the companies that have (and have not) triumphed in the market.
Not all companies can start with the same ease. Ibisworld economic research company recommends aiming a small company with low entrance costs and high growth potential in some industries. In addition, there are Human Resources and Social Security management, outpatient sale, online auctions and virtual sale, supermarkets of ethnic products, liquor stores and internet advertising, among others.
Look for opportunities to acquire skills without spending a lot of money. If you have a trade idea, but you do not have the skills or training to implement it, get the training you need at a low price. Try to make agreements with institutions or companies that provide training to train you in exchange for any attention that your future company can offer them.
Look for a part -time remuneration internship. Look for opportunities to get practical knowledge of your friends, family or an expert known in the field. You must maintain a source of income while doing this, if you need to extend your training period. If necessary, return to the classroom, request a scholarship and an financial aid bag from which you are entitled. Papeleo can take time, but the results (that is, the money you save) will be worth it. Take full advantage of your existing assets.
If you are looking to start a business from scratch, take full advantage of the resources that are already available for you. For example, you can use your car as a company car. Turn your garage into a store. Some of the largest companies today (such as the famous Apple and Facebook) began in simple places such as garages, basements and bedrooms. Take the fullest what you already have. If you have a house instead of renting an office, use it as a starting point for your business. In this way the money you would spend on paying the rent is saved. As for the payment of taxes, you can declare part of your home as a commercial office.
Promote your business. Even the best offer in the world would close if no one knew that there is. This is your opportunity to compensate for the lack of money with your own work. If you cannot pay a television advertisement or an advertising fence, you can print brochures at home and distribute them on weekends. Post Puerta by your neighborhood in your neighborhood. Make your own poster and gose it at the entrance of your company. Use a fun costume with your commercial promotion and remain in a corner full of people. Anything fun or shameful that I can do to promote your new business, do it. When there is no money, your ego needs to retire and put aside your first efforts to promote your business.
Establish the goal: at this point it is time to establish our goal. Not exactly a business, that is, a short -term objective. And that goal is similar for anyone who says: I want to start a business, but I have no capital. Nothing less than buying what was on that list. We need that. Either goods, machines, whatever, our goal is to achieve it!
Request a government loan for small businesses. Many governments offer loan programs specifically for small and medium enterprises (SME). Consult with your country’s trade department to find out how these types of programs work. These require that companies meet certain requirements to ensure that capital is adequately invested. They are usually the following:
- Be profitable.
- Know the characteristics of a small business.
- Work in the country or areas that belong to you.
- Do you have enough capital (basically shares)?
- After having exhausted the funds to obtain the money before requesting the loan.
- You can demonstrate the need for loan.
- You can justify money investment.
- No pending government loan.
Conclusions.
Cultivate your passion and determination. Open your own business can be quite complicated, especially at the beginning when you have to address complex aspects of the proposed business model. If you love your business and it is something that you are passionate, the work will be much easier. If your passion for your work is so great that you feel guilty for making money doing it, you may be sure you have chosen something that is ideal for you. If your work is passionate about, it is easy to continue with him because you will only be satisfied with yourself when you have done your best effort.
Find certain areas that are passionate about and cultivate your skills in these areas through studies, training courses and the practical application of knowledge and skills. Find a way to earn money based on your passion instead of forcing you to do the work that pays the invoices of your passion.
Use unconventional financing sources. The fact that you do not have an investor or reliable lender does not mean that it will be impossible to find goods to make your dream come true. For people who have a good one, today it is easier to get the attention of people with money, but not with good ideas.
Leave feedback