How to Start a Business without Money
The very title of this topic may startle you! You must be thinking whether it makes sense at all. The answer is an emphatic yes. You can well start a business without any money? In fact this is the best way to so, given that you wouldn’t have creditors running after you or mounting interest to deal with.
Two Important Ways to Start a New Business without Incurring Expenditure
- Have a Home Based Business: A home based business can help you with your ideas of starting business without investing. This will reduce or even eliminate all overhead costs. The savings which you can make include no lease payments towards office rent and complete elimination of costs for commuting to work.
- Involve your Family in your Business: Try to give joint ownership to your family members. This will save you expenses by way of paying monthly salary. In them you can find partners who can be entrusted with anything.
Find Business Ideas Which Require Little or No Money to Start
This can be the most challenging aspect of the job. Coming out with the right ideas are where the key to your success lies. For this you need to consider skills which can be properly canalized to start a business without any expenditure. Some business ideas are listed below:
- Home Based Tuition: This is a very good business which can be started without any investment at all. All you need to have is good teaching skills. If you specialize in teaching a particular subject you can become a teacher specializing in a particular subject. Once you make a name for yourself you can get your business going strong.
- Start Money Lending Business: This again is a business which you can start if you have money in hand. All you have to do is lend money to those who need it and charge interest from them. You lend your money against a security. In the true sense this is a business with very good returns but no investment.
- Start Money Exchange Business: This is a secure business with zero investment. You just exchange the currency of foreign countries and get a cut for it. For this you need to be in a place frequented by foreigners.
- Start Money Broker Business: This again is a very good no investment business. You just have to play the role of a middle man and earn commission for what you do. It can be anything- from helping one find a home to helping one sell a car.
How to go About with Your No Investment Business?
- Give importance to your creativity. Implement creative concept and ideas. Do not run after money. Increase sales activity aggressively
- Build your ability to convince. When nothing works, negotiate. It is here that the difference between a full time employee of a Company and an entrepreneur lie.
- Offer better value for money than competitors
- Substitute the absence of money with hard work
- Always have a balanced approach. Live life within balance especially, when you are starting a business without a cent in the bank.
- Avoid long term contracts, like fixed employment, leases, contracts for employees etc.
- Always have unflinching determination
If you wish to turn your dreams of starting a no investment business a reality, you can achieve it with quite ease
Sir,
I would like to start an online business for selling processed organic products grown in our own fields. This we plan as HOME BASED BUSINESS. Shall we obtain a licence to do this business? If so, where shall we approach?We also may get chance to export our products to South Korea. Where shall we approach to get an export import licence and what are the formalities?
Would you kindly give the guidelines?
Joseph
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Sir,
I would like to start an online business for data entry This we plan as HOME BASED BUSINESS. Shall we obtain a licence to do this business? If so, where shall we approach? Would you kindly give the guidelines?
Rathiesh
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i have inteest doing home business plz help me sir
thank u.
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This is also my question that what is the business can be started at home without investing money or low investment. I have got an idea, carrier counseling at home, marketing for other company product (not reputed) through sales boy / sales girls, you have to little bit for it ..
If you have any idea please suggest me.
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Scott Wilson Reply:
February 28th, 2010 at 7:26 am
That is very good idea. For these profession, you don’t need large amount of money.
If you are very sure and informative in career counseling, then only start that service. Because it is the future of some one.
you can do it with so much care.
About mmarketing idea, it is good and feasible as well. I would again say: think, plan, decide, act, and evaluate your plan. All the best.
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i would like to start a business of my own with no investment at the initial stages
please guide me ..
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Scott Wilson Reply:
May 12th, 2010 at 11:52 pm
Mr. Vishal,
Can you please be more specific about your question so that I can be in a better position to guide you. Please ask question in descriptive manner.
Thank you.
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I want to start my own business. Online personalized retail selling, gift articles, etc. Can you please guide me on this? Also do I need to register a company? Can i create a website and start a company? Do i need to register it? What is the process? I need to understand all the legal formalities? where can i get help for this?
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Scott Wilson Reply:
May 16th, 2010 at 11:45 pm
Mr. Yashwant,
To start something like this, you don’t need to register your self as a company. You should register as a firm only. You can surely create your website and you can start this on E-bay as well.
There are no big and complicated formalities or lengthy process. You just need to register your website on some web host and you have to have an internet money transfer account.
Thats it. You can start your business smoothly.
Thank you.
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Yeshwant Reply:
May 17th, 2010 at 10:17 am
Thanks much for your reply Scott. Any advice that you would like to give me before i approach a web hosting company. I also intend to outsource design and development of my website. Any recommendations?
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Scott Wilson Reply:
May 18th, 2010 at 1:42 am
Mr. Yashwant,
You should be very selective about your website’s name. And about the web design and site development, our enterprise has a department of webdesign and development. You can approach me as well and you can give us the order of your website.
Thank you.
Hello sir,
I am planning to open a Pool Parlour business in Navi Mumbai, i have also took out the business license for it. My questions are will i reuire any license or NOC from local Police and is there any entertainment Tax charged for such business, if yes how much will it be and which governing body is going to take take of this tax ?
Thank you
Pankaj
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Scott Wilson Reply:
May 20th, 2010 at 8:14 am
Mr. Pankaj,
You will require to have NOC from the local police. The governing body for that is income tax department of India only.
You may require the NOC from the neighbours as well.
Thank you.
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Pankaj Reply:
May 24th, 2010 at 3:22 am
Dear Scott Wilson,
Thank you for your reply.
Regards
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Scott Wilson Reply:
May 25th, 2010 at 9:10 pm
My pleasure.
Thank you.
Hello sir..
I am vignesh BE(cse)graduate i am a agriculture family in (tamilnadu)india I interested in start home based no investment business please guide me witch business i will start………….
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Scott Wilson Reply:
May 31st, 2010 at 8:46 pm
Mr. Vcignesh,
There is a special column for the young business man who wants to start a new business on his own. Here is the link, please spare some tome ad read the post and the question answers there. You will get lots of business ideas.
http://www.professionz.com/in/jobs-in-india/how-to-start-a-small-business.html
Thank you.
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I would like to start an online business for data entry This we plan as HOME BASED BUSINESS. Shall we obtain a licence to do this business? If so, where shall we approach? Would you kindly give the guidelines?
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Scott Wilson Reply:
June 3rd, 2010 at 10:45 am
Mr. Ashish,
You may register your firm and have license of service exports. It will help you a lot in future to take your business on a larger level. To register and for licensing, you can consult an advocate who providers the service of registration assistance.
Thank you.
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Dear Scott Wilson,
Hope you are doing well.
I am sure you remember our conversation about Pool Parlour.
It is ben started on 9th June, respose is good. and i am planning to open a Hookah Lounge at the same place. I wanted to know several things like will it require license, is it allowed by constitution if yes how should i go about it.
Thank You.
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Scott Wilson Reply:
June 22nd, 2010 at 8:34 am
Hey Pankaj,
Great to hear from you that the parlor is doing well. For the hookah parlor, you have to take the license and for that you should consult an advocate who can guide you and do work on behalf of you.
Thank you.
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Hi, I am monika sharma from Chandigarh and I am looking for some business. I am planning for boxes business I mean boxes that is used in tv, refrigerator covering and everywhere in everyday life how can I start that production business and how much capital I needed please help me.. Hope u understand
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