Yes you heard right! You can start up a business without a capital and we have the answers to the how.
If you fall under that category of people who use the cliche ‘I have a very good business idea but I don’t have enough money…’, here’s a goodnews for you.
Starting a business requires ingenuity and a passion for what you are doing. Once you find yourself doing something you enjoy, you will be more likely to find ways to make it all come together.
Chris Guillebeau, author of The $100 StartUp said: “To succeed in a business project, especially one you’re excited about, it helps to think carefully about all the skills you have that could be helpful to others and particularly about the combination of those skills.”
Below are 5 guidelines to follow according to Entrepreneur:
1. MAKE SOMETHING.
Making something may take an initial cost in supplies, but oftentimes, these products can be sold for many times over their actual cost.
However, it is up to you to decide what you want to make and then search online to discover several places where you can sell your handmade products.
The trick is that many business owners sell their products on multiple platforms to get as much exposure as possible. It is important, however, to make sure your inventory stays updated on all sites you have a storefront on.
2. RESELL PRODUCTS.
You can resell already made products, especially if you are not interested in making anything or you feel you are not so creative to make products yourself.
Several businesses have grown so largely just because the owners were reselling products that have already been made. This can be done through a variety of ways or channels like setting up an online store and partnering with drop-shipping companies that will do all the order fulfillment for you.
3. SELL YOUR SERVICES.
One way to start a business with little to no startup capital is to sell your services, instead of a physical product. There’s a huge variety of services you can offer, depending on your background and interests.
Some will require advanced degrees, such as accounting, while others require little more than a working knowledge of how it’s done (such as babysitting, lawn mowing or personal assistance).
Because you are selling your services, you will need a branding plan to make sure your name and company gets in front of the people who may need the service. Some places that are free for promoting your services include Fiverr, Craigslist, Elance, Taskrabbit and Skillshare.
It’s also useful to have a website to show examples of your work, list your experience, and blog about your industry to draw visitors. If you want to learn more about branding and online marketing, check out Buffer’s social-media blog, Hubspot’s blog, Content Marketing Institute and CopyPress.
4. TRADE BY BARTER.
Although nothing seems free anymore even in Freetown, it could be extremely difficult to start a business without any type of funds at all. Even creating a freelance-writing business with WordPress will still require a computer to work on as well as Internet.
However, there are ways to get supplies you need for starting your business without money.
For instance, if you find yourself in need of a used laptop, try to barter for it. Build a new website for a used electronics supplier, or offer babysitting services to your neighbor for their old Macbook.
5. UTILIZE LOW-COST SERVICES.
You can advertise your services on low-cost sites to gain more exposure while indirectly using them to build up your own company.
For instance, many designers offer $5 to $25 logo designs (that come with free revisions). Sort by reviews and look at past examples to find a designer or service provider that matches your style.
This is a great way to get branding materials, printed items, or other needed items without much cost. And for additional savings, be sure to look for coupon codes on sites such as Printmagic.com before checking out at any online retailer.
Got a news tip/information for us? Email firstname.lastname@example.org
Follow us on twitter @thesheetng
BBM Channel: C0042057A
Like us on Facebook @ www.facebook.com / The Sheet
This is a 2015 Copyright of thesheet.ng. You may wish to request express approval from thesheet.ng to republish.