I Want to Start My Own Business but Have No Money: Know What to Do to Start

November 30, 2010 6 Comments

Starting a business can be easy or it can be complicated. Without the proper guidance, any person who has no business background will find it difficult to even start planning for a business.

Starting a business can be done either at home or in an actual business or commercial setting. Whichever one a person chooses, he or she must be comfortable with it as a starting project which can lead to bigger and better opportunities in the future.

I Want To Start My Own Business But Don’t Know What To Do

  • Planning is important. The person must think about his or her talents and the skills he or she possesses. This might be a great way to make products or to offer needed services.
  • Know the marketing potentials of the business you would like to start as well as the competition that exists, if there are any.
  • The person has to be ready to handle the tasks needed to run a business such as setting appointments, bookkeeping, marketing, filing, and the like. If not, he or she can either undergo training or hire a person to do these tasks.
  • Learn the risks and benefits of different legal forms of business organizations. Several of these exist. It is best to choose one which is most appropriate to the business.

I Want To Start My Business from Home

  • Start making a list of what needs to be done to prepare a home space for business.
  • Understand zoning laws. If a person wants to start a business from home, this must not cause any commotion in the residential neighborhood.
    A home business cannot constantly accept or entertain customers into their home.
  • Try and gauge the support of the family. The success of a home-based business can be affected by the support of the family.

I Want To Start My Own Business but Have No Money

  • Any business needs a capital.
  • To help determine how much capital is needed, it is best to calculate startup costs.
  • Consider factors such as break even point, cash flow, and funding options. The business started must be able to generate money in the shortest possible time to generate the capital spent as well as enjoy profits earned.
  • Insurance is important. Potential business owners must insure their business to protect their investments as well as their families from the risks of running a home-based business.

Remember, starting a business, home-based or not, carries its fair share of risks. The more prepared a person is, the lesser the chances of being exposed to such risks.

6 Comments »

  • P K said:

    Hello, I am doing a job in Animation industry. Apart from that I want to start my own business but have no money to invest. I would be very thankful to you if you give me an innovative and profitable idea to start my own business. If I become successful in business, I will drop my job.
    Thank you.

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  • B M said:

    Dear Sir,
    I want to start a Data entry call center in CA but I am not getting any company to deal with them. Send me some more details regarding how to start BPO business and what are the requirements. If you can help me I will be very thankful to you.

    Reply This Comment

  • V J said:

    Hello, I want to start a business of water bottle plant, capacity will 500- 1000liters a day. I want to start in a small level. How do I go about it? I need some inputs. If you could help me by giving suggestion regarding the start up, I would be so grateful to you. Awaiting your response.

    Reply This Comment

  • V K said:

    Hello Sir, I am computer Engineer and I have 2.4 years of cooperate experience as software developer in mainframe.I want to use my weekend and do some kind of own business with help of 2 friends but with low investment at starting. Could you please suggest me some ideas.so, I could choose one of the best.
    Thank you,

    Reply This Comment

  • B S said:

    Hey, I need some good investor who can fund for a business idea that I have, I would like to start my business, and can any good investor help me? I have idea but no capital to invest, anyone please try to help me in whatever way you can…

    Reply This Comment

  • Druvo said:

    Hello Sir, I am computer Engineer and I have 2.4 years of cooperate experience as software developer in mainframe. I want to use my weekend and do some kind of own business with help of 2 friends but with low investment at starting. Could you please suggest me some ideas. So, I could choose one of the best.

    Reply This Comment

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