When you ask 10 people the reason they have not started their businesses, 7 or even 8 out of those 10 will tell you it’s because they lack the capital to start. This brings us to the question, is it possible to start a business with no capital?
Look at it this way, if you have an idea and an unbelievable drive to succeed then you can start your business with no capital and this is no motivational speaking. Let us show you how:
1. Keep Your Job: Sounds a bit conflicting, right? No. it doesn’t. If you have a job before starting a business then keep it, having a business is not a walk in the park and to sustain yourself till your business starts bringing in some revenue, you need that salary.
You can quit when you know your business can run on its own.
2. Offer a service: Some of the best businesses you can start with no money is a service business. You can start a service business with practically no money. Build your business on the skills and knowledge that you know and keep improving on it. If you want to start a business quickly, you have to focus on what you can do now, not years from now.
3. Look for Business Grants and Funding Opportunities: Truthfully, business grants are not always easy to come by but once you have your business up and running, you can begin to look out for funding opportunities.
5. Affiliate Marketing: Affiliate marketing offers you a great way to earn a percentage of sales without having to create a product. It’s simply having a business on someone else’s business. All you have to do is market an existing product or service to your customers.
6. Ask your friends and family for funds: Remember, you are not asking for charity, it is for a business you strongly believe in. The good thing is, you can practice your business pitch with them and ask for feedback so when you are ready to launch, you can ask them for support.
7. Lookout For Angel Investors: Angel investors are usually among the people outside the company to invest in a business. They usually help to scale your business beyond you. They also make great mentors as they are entrepreneurs themselves.
Nothing can hurt your chance to succeed except if you believe you can’t, so do not do yourself a disservice by not achieving your dream. With these few tips, you can see that you can start a business with little or no capital but you however need some funds if you want to scale.
But that will be for another day.