Starting a Business with No Money
We all know the benefits of starting a business but taking that initiative is always an uphill task. Who dislikes being an own boss, job security, growth potential, and the financial freedom associated with business? One of the common myths about businesses is that you need enough starting capital. Lack of funds is one of the excuses that most people give. If you have always wanted to start a business but you are scared of financial requirements, here is some helpful information to help you start and run your business.
Before we even go further, you need to have a plan. You will not just wake up and start a business. You need to think about it and strategize. First, you need a well-thought business idea. What is it that you want to start? Will you offer goods or services? How will you offer them? You can also carry out a research to find out what else you need to establish a successful business. Don’t rush the process. Determination is key as you don’t want to give up when you encounter challenges along the way.
Are there Businesses that Started with Nothing?
You are probably wondering whether there are businesses that were started with little or no capital. Yes! You will be surprised that some of popular multinational companies started with a few dollars. A great idea and a strategy will get you far. Below are some of the top brands which were started with almost no money.
- Whole Foods Market. You may think that this business was started with a large financial input but the founders had nothing. Rene Lawson and John Mackey borrowed money from family members and friends to open a store in Texas. Interestingly, they lived in the store because they could not afford the rented apartment.
- Do you know that Apple started in a garage? Other companies that started in a similar manner are Hewlett-Packard, Google, Yankee, Disney, and Harley Davidson.
- Nike Company is yet another inspiring story. The founders of the company sold training shows from a car trunk.
- Dell is one of the biggest companies at the moment. Its founder was a dishwasher. He sold computers from his college room.
These are some of the successful stories. You also can start a business with no money. Let’s go straight into ways of doing it. Below are tips and ideas of getting started.
What can I do for Free?
Mountains of obstacles come your way when you are about to launch your business. Coming up with a list of business ideas and opportunities can be a daunting task. If you are scared by the thought of starting your own business but you do not have money, relax and think about the things that you can’t live without.
What are some of the essentials to your idea? Think about the things that you need such as a custom-designed website. You don’t necessarily need a website if you are starting out. There are millions of people using different social media platforms. Make use of it. Create a Facebook page and start promoting your business. You can as well design several marketing materials on canvas. The other viable idea is trading your resources/skills/products with other people. You can seek payment for what you have or exchange for something else that can be beneficial to your