You can Start Your Own Business without Money

You can Start Your Own Business without Money

You can Start Your Own Business without Money

Starting a business needs a lot of resources and loads of inputs financially, as well as strategically. Everyone is excited to start a new business. Thinking about the possibilities of how the business will flourish, how everything would work everyone is thrilled. You are willing to take risks, maybe leave your current job or giving it all for the business. But there is one big problem with going forward with this: you don’t have massive money.

So, we before going into this we should consider why money is important to run a business. There is obviously no “start-up” fee in establishing a business, so it primarily depends upon the needs of the business. Money is required for licenses, purchases, supplies, equipment, office space, memberships, cost of operation, and cost of maintenance. These costs require attention and also a lot of money. And sometimes these costs are inevitable. So there are many options of doing away with this problem of costs as well as conducting the business in an efficient, profitable way. In the end, we do it for earning more and more money and keeping a check on these costs and expenses will be beneficial for the venture.

One important way of handling this is: REDUCING YOUR NEEDS

This can be accomplished by starting off with less number of employees handling stuff, which can also be reflected as working as a sole employee at the start. This will surely lessen the expenses on employment. Often the workload will maximize exponentially, but to earn something you have to let go of something. Another way for realizing this plan can be considering cheaper supplies, and even strike out product lines which are too expensive all along their operation. Obviously there are going to be expenses which cannot be removed like legal expenses, licenses but there can be cost-saving techniques utilized for all other expenses.

An alternative one can consider is: HANDLING THE PRE-EXPLOSION PHASE

Now what exactly is the pre-explosion phase? Pre-Explosion Phase is the “warmup” period for your business. So this phase involves starting out with the basics and seeing your business build up progressively. One can start a blog here, reduce scope of business, the profit margins and try to keep it simple and narrow. Starting off as a self-employed individual would avoid you of some big initial costs.

And the final and most prolific way: OUTSIDE SOURCES OF INCOME

I’ll tell you why this is one of the most sort after way of getting into a business. You have an idea and you need money to shape up that idea into a reality. So the big investors and businessmen tend to look for such ventures or start-ups. They will invest money here and thus earn profits as shares or any agreement between the entrepreneur and the investor. So these investors, or sometimes referred to as “Angel Investors” are wealthy individuals who put up money for ownership in the company stocks, which is certainly a sacrifice worth considering. These investors have proper understanding of the market and only agree to fund the idea if they are convinced with the yield the idea might reap.  Another very important source can be Crowdfunding. Crowdfunding can be massive and a very cheap source of acquiring funds for the business. And finally, a very apt way is Bank Loans. This can give you a very safe and secure way of utilizing the money and returning it in a very systematic manner.

So, these as discussed above are the ways of developing a business without enough money in the start but money can be gathered, either by saving or investments. Such sacrifices on cost cutting are really important. Every big businessman who ever existed in history started off just the way you are right now, Rookies. If they can achieve the unthinkable, even you can!

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