Ways & How

how to start a business with no money

how to start a business with no money

Money is not the very first thing that should come into mind in terms of starting up a new business. There are tons of articles on the Internet that discuss how to start a business with no money. You will see that there are successful entrepreneurs who had nothing when they first thought of their business. To them, starting a business with no capital at all is not only possible, but the outcome can be very rewarding. Basically, your frame of mind should not focus on the necessary capital that can amount to hundreds and thousands of dollars to start your business. Follow through these simple tricks and make the biggest breakthrough in your life.

  1. Make a business plan. A good business plan is the first thing that should come to mind when deciding to go into business. The business plan serves as your road map on how to steer your business even without the needed capital coming from your own pocket. Though capital is very important, don’t discount a good business plan because it is very important too.

  2. Look for any state financing program.

    There are economic programs sponsored by the government that are primarily aimed to spur economic activity and to help improve the economic situation of the people. These programs usually support those who want to start small and medium size enterprises but do not have funding of their own. The good thing about state financing is the lower interest rates compared to private financing firms. Besides, you will have a greater leeway as to the mode of payment because the main purpose of state financing is not profit but to help grow the economy.

  3. Consider private financing. There are so many private financing institutions ready to serve you as long as they see that you are qualified. Just remember that a private financing firm usually has more stringent rules. At any rate, you should be cautions h because these financing institutions are for profit. When applying for private financing, a good business is necessary to secure it. Your plan must be feasible and realistic. Private financing institutions are concerned about how successful your business will be because they do not want you to resort to bankruptcy later on.

  4. Consider partnering with others. This option has legal implication in a sense that you have to pre-determine your share in the partnership business. You can either be the industrialist partner or the managing partner or the capitalist partner. As the former, you could offer to do most of the work in the company, including the management aspect, without contributing any on the starting capital. In effect, the capitalist partner will have to produce the needed cash as identified in your business plan. As mentioned, identify your respective share of the revenue. The sharing may be equal or proportionate to the contribution of each partner. The profit sharing aspect largely depends on your agreement as business partners.

Even with no money, your set of skills and talents coupled with your passion to succeed can rocket you to success. Be resourceful enough in finding a source of capital. Utilize these four tricks on how to start a business with no money and get started on your venture. Good luck!    


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