Top 10 Ways to Start a Business Without Investment
The commercial sector is booming these days, leaving a brief period of economic depression as just a passing storm. All the major metropolitan cities, as well as their smaller cousins, are bursting with activity, mainly in the areas of construction, education, hospitality, and tourism. In consequence, larger groups of people are gaining interest in beginning their own businesses, instead of striving to make someone else’s path successful.
Source of Initial Investment
The idea seems more practical and wise. You invest your time, money and will, so that you can derive the profits and if the worst happens, learn from the errors. There is no one else from the other side of the shore to judge, criticize or advise you, having no idea of the ground-realities. You can earn from what you believe in, in the manner you wish to earn. But then the question arises, ‘what about the money?‘Without an initial investment, how can you start a business? This isn’t a child’s game, this is business! You spend money and then you make more!’ ‘So what if you don’t have that money? ’Believe it or not; it is still possible to start a business with little or totally no investment. Does it sound too good to be true?
This post describes 10 ways to make your mark in the field of commerce:
1. Your Passion should Become Your Business
The message is clear and concise. Do business in what you like and at what you are a master. Your interest, efficiency, and zeal for embarking on a particular line will decide its fate for generations to come. It should be a field you specialize in and have ideas that could carve a niche in the field.
Business is surely a means of making money, but it is not the only purpose. It may in the fields of technology, entertainment, household goods, or even art; yet a business will become successful only if you strongly believe in the concept; else it is just the throwing away of money and time.
2. First Serve and Then Manufacture
Everyone wishes to begin a manufacturing hub, with a dozen factories, in the very first quarter! Be practical; if you do not have the funds to set up a manufacturing facility, offer your services to those who have.
Let us make this clear. The advice is to offer services and not to work for a third-party. The practice of free-lancing has spread ferociously across the business sector. Many corporate houses are looking for freelancers, to complete last-minute-pending projects at lower costs. They have the money and you have the skills; make use of it and keep the money in store for your own start-up.
3. Think Out of the Box!
Infuse creativity into your thoughts. There are sources of funds everywhere around you. Banks, financial-institutions, brokerage-houses; the list goes on and on! Your pool of investment just might be around the street’s corner. However, it is your creativity and determination that would convince the giver and land those green notes in your hands.
4. Underline Your Uniqueness
Why are you different? Why should people opt for your services and products? How are you going to make a difference to already existing companies? Highlight your answers to everyone out there. Advertise and market what you have to offer loud and clear!
But hey! You haven’t started the business right? Then you may ask, how did the advertising stage appear? That is the secret! Create interest and stir up the crowd, before the actual game begins! The money will automatically flow into your hands, even before you start selling anything. Besides, this move is a guaranteed method to woo investors.
5. Go, Ask the Public!
The people, who may purchase from you, will give you the money also. Puzzled? This is popularly known as crowd funding. Even industrial giants like Microsoft and Apple, have gone or this method of funding for their ventures. There are no restrictions or limits, to how much you can obtain. All you have to do is to convince the public that you literally mean business.
6. Woo People, But Don’t Overdo It!
This point is related to the previous ones of receiving funds from outside sources. While the methods, are many, do not get overwhelmed by the response and empty your purses unnecessarily. One must understand any of form of funding is still in credit, until the business can make enough profits to return them. Do not waste your money foolishly on stylish furniture, office space and avoidable payments. If you receive funds in surplus, save them as you still may need these amounts later.
7. Stay Socially – Connected
The social-media websites are the shortest and yet most result-oriented means of reaching out to people. It can be ascertained with conviction that anyone browsing the net, will have surely be a member of some social network or the other. Reach out to them, advertise, campaign, and convince them of your products. Several e-commerce platforms are also being created these days. Establish your business and make bounties, without even a presence on the ground-level!
8. Sell to People What They Need
It need not be further explained. In your business, you are the supplier to the demand of the people. If people do not have the demand, then what is the point in you starting that particular business? Research, study and analyze. Plan well, before you begin the battle. Though this point is mentioned at the bottom, it could very well one of the top priorities.
9. Let Your Enemy Teach You
The enemy mentioned here refers to your competitors, or any existing company in the line, you wish to enter for commerce. Learn how they run their businesses; see their plus points and also their weaknesses, if any. It in fact is the perfect solution. You are going to start a business, and have somehow received some funds. So what next? How do you make it run? Worry not! Your competitors have done the planning, and you execute it!
10. Hard-work Does It All!
Everything summarizes to this very point. “Hard-work pays”. You don’t run a business or even enter any profession to make money. You do so to earn money. Let us place it like this. First you must have an idea and then make plans. After that, you spread awareness about it. Next you learn the tricks before launching the product or service. Finally, work hard to ensure our business is not just a sudden-shower that will soon fade away.
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