The age old dilemma – ‘oh what I could do if I only had money.’ Better yet, ‘what I could do if I had someone else’s money.’ Almost my entire childhood was made up of thinking like this, and I’m not alone. Many would be entrepreneurs when asked what was stopping them from starting and running there own business would say money.
Let’s be honest, at the end of the day, that’s what it all come down to anyway is money, right? It does cost money to start and run a business – from the simplest hobby side business to the most complex and elaborate corporations. Money still makes the world go around, and it does take some money to get started as a business, even if you never have to touch physical assets – you’ll still have filling and licensing fees at minimum. So, to start a business with no money – or even barely any would be a complete lie. However, that should not stop you.
The good news here is, anyone CAN actually start a business, right now with whatever you have. You don’t need large amounts of capital, or millions or even thousands of dollars to start. Although it is true having a lot of capital upfront gives you an edge and a broader array of avenues to choose from, some of the best business managing skills you actually learn from starting with nothing.
So, how do you start a business with no hardly any money?
use what you have
In the game off life, we all have unique assets we bring to the table. Maybe you’re a great people person (networker). Or, maybe you’re more the analytical type and prefer to mostly stay in and get extra work done. Perhaps you’re more the hands on type? Do you have a talent or passion? Or maybe just a drive or vision to do something better? Nevertheless, the key is figuring out who you are, and what you have to offer. Ask yourself, what can I contribute to the economy – what value can I bring? Once you do, figure out how to turn it into a business.
- The hard part is actually monetizing an idea, not so much creating a product or service.
The reason I say this, is because pretty much everything has already been thought of. Did you know there are flying cars? But the reason we don’t see them as widespread as Tesla’s is because there’s no market. You can make any sort of product you can think of, whether its been done or not – from space age innovative technology to simple bars of soap. The trick is convincing someone they not only need it, but need yours because it’s a better value. This is where your passions and talents come in. It is easier to sell someone else on an idea you believing in yourself.
- Example –
Why should someone buy your product?
1. Because you’re trying to make money?
2. Because you devoted all your time and energy into it?
OR
3. Because you believe in the product or cause and want to share it with others?
Yes, it sounds a little cheesy, but what actually does sound better? We tend to trust brands that are more focused after being the best at what they do or making an excellent product, because we feel like we can trust them, and that we are getting a better value for our money.
So basically, you can sell anything to almost anyone if you can convince people that you are the best. And you should strive to be the best. And the easiest way to do that is find something you are good at, and or something you are knowledgeable in. It will make the process so much smoother, and ultimately you’ll find it easier to stay focused and devoted.
Brainstorm
Like I already stated, the hard part is monetizing it. Anyone can have an idea, and almost anyone can outsource a product, but not everyone can sell or sell enough to make a successful business out of it. This is where the work comes in.
You are your greatest asset.
So ask yourself again, what can you do great? What can you do better? What are you more knowledgeable in then most on? And what are you passionate enough about to stay committed? These are all questions you should be figuring out the answers for.
Once you answer these questions, its time to figure out how you can make money with them.
In today’s world, it is easier than ever to make money off of something, if you figure out how to do it correctly. Many Americans have disposable income, and are more then ever likely to spend it on convince, whatever that might be. A good example would be doggy poop removal service. To me, that’s always been part of owning a dog, and I could never see myself paying someone else to do it for me. Yet, many Americans are willing to pay for such services for whatever reason. The trick is convincing them they need it – whether it’s your service or product.
So if you like dogs, and own a shovel, you could get started in such business right now. Maybe you had plans for a larger fleet and workers for your service, but you don’t need (and shouldn’t) try to start from the top before you even learn to crawl.
Start small, NOW. Ask yourself, what can you do today? Better yet, how can you make money on it today?
put in the work
No matter what you decide to do, it’s going to take work. I find it hilarious when I hear people who thing owning a business is easy. Like it’s just hiring people to run it for you. Or even people that think once their business is up and running, they can just sit back and enjoy the profits. But it doesn’t work like that.
Even is you are super successful, most good business owners never stop working. Sure, once you get big you can probably outsource some or even a lot of the workload, but you will only be doing so only to be freeing up your own time so you can run your business successfully. A good leader is willing to get their hands in on the action. After all, it’s your business. If you don’t seem passionate about it, why should whoever you plan on hiring to run it for you?
That being said, making it actually happen is going to take work. Using excuses like not having enough time or money is going to get you nowhere, because you will never have enough of either.
Many people devote their life to starting their business, (although I don’t necessarily support going all out on a limb cashing you life saving to take a gamble on a business that might not even be successful) but you do hear countless stories of people working long, hard hours with multiple jobs to save for start up capital, while continuing their 9-5 to get by. Nothing in life is easy, but if you are passionate enough about something you will find a way to make it work. Best of luck to you.