How to start your business with less or no capital
How to start your business with less or no capital
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Ideas are wealth and great treasures in disguise. However, many of us find it very difficult in translating them into profit making businesses and the greatest factor is financial constraints. Well there is always a way out in every situation and luck of funds shouldn’t deter you from pursuing your dream of building a business empire. You can always make it when you remain focused with a clear vision. Here are some few points I have for you and I want you to consider them and to put them into action if you really want to build your dream business.
• Do a thorough investigation about where to get raw materials and lobby
In my previous write-up on due diligence titled, “a start-up requires due diligence ” Read more here
I made it very clear that whatever business you may be interested in, you have to investigate thoroughly before you go into it. Get more information on the type of business you want to go into, check for yourself if it would be possible to get raw materials and all the basic things that will be necessary to start especially when you succeed in winning your very first contract. Also since you don’t have enough resource and that capital to start, look for businesses that require less resource or less capital. Lobby in for raw materials and start on a little scale while you grow progressively. I personally started my business with absolutely nothing. I shall let you know how it all started for me in due time. Here is the thing; it is better to start with nothing than to stay ideal, waste much precious time and end up having nothing
• Have a very solid foundation
If the foundation of your building is weak, it will not stand the test of time. It will collapse within the shortest possible time. Someone will ask why I am using this example; starting a business is just like how to start a building or any construction. If the structures of your business are not strong, your business becomes very vulnerable and will diminish over a period of time. You have to be able to build a very firm system to always hold you down even when things are very bad. Get yourself aligned with business people and companies that are resourceful and running similar business you want to venture into
• Always have that winning attitude
Do you really want to start your own business? You must get ready for failure. There is absolutely nothing you are going to start without setbacks. You are going to fail countless occasions in the beginning and even along your journey. However, you must develop a winning attitude towards the business and all engagements related to it. When you always carry yourself always as a winner, people from near and far will come around to help you make your dream come through. Everyone wants to get associated or get involved in the business of winners. Yes no one wants to be around with a loser and I think that assertion is factual. When people realize you’re excelling in your venture, they want to find themselves attached to you, especially I our part of the world.
• Tell everyone you know it and you can do it
You have to be very confident but not complacent. Many people out there let countless opportunities pass by just because they were not confident enough to say “yes I can do it” they have so much doubt within themselves to accept responsibilities when they come their way spontaneously. Accept the challenge and make everyone believe you can do it. Even if you do not know how to do something and the opportunity hits you, say yes I can do it. Later, run home and get your homework done very quickly. Lean to tell everyone this task is very easy when you know its a difficult one. When they have finally confided in you and believe you can do it, hide in your secret location and suffer alone. Learn how it is done by doing research. That way, you win the trust of investors or anyone who is available to help you.
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• Where the need be, do not resist to ask for help
No man is an island and there is no one out there who does not need help most especially when you want to start your own business. Help is something you need to enable you become successful business person. Let your ideas and your business plan known to people who may be of help. Give them a viable blue print with confidentiality and if they buy into it, they will come on board and assist you. They will help you from diverse ways to see you grow because they would like to grow with you. They cannot afford to see you lose because they become family, partners and your win becomes theirs too.
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Source:kamlinks.com, written and posted by Mawunya on May 6, 2019
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