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.
- 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