How to Start a Business with Little or No Money
“If you cannot do great things, do small things in great ways”- Napoleon Hill.
While starting a business, it is not always necessary for you to need a large amount of capital. The key to a successful business is to start small with a perfect strategy.
In today’s world, if you want to start a business and create opportunities for yourself, you don’t need too much amount of money or permission. You don’t need to meet too many people, it really doesn’t matter whether you belong to a small city or a bigger city. It doesn’t matter whether you have more resources or fewer ones, all you need is a talent to start the business.
It may seem like a far-fetched idea to some but yes it is possible. Yes, you will need the cash flow and investors later on when the business starts expanding but if your business does expand then by that time you will have the money to invest so there is nothing to worry about that phase.
Now there are Two Categories to this Kind of Business.
1. The One with no Investment at all.
One of the biggest entrepreneurship myths is that you need a lot of money to start a business. With money yes you get more options, but who said to start off, you need money? All you need is the right mindset and the hustle. If you do want to use this method to get rich, it may work provided you do the right amount of hard work it takes to reach there.
Here are a few best business ideas for you to start with no money-
Video content is the most popular these days. People like to watch videos more than they would like to read about them. So start creating videos on YouTube. It’s completely free. You can start vlogs (video blogs) about your city or teach how to cook. You can find all sorts of crazy stuff on this platform. Even if you are good at gaming, you can live stream the game. All it takes is to press a recording button to make a video.
Now comes one question is that the new updated policy for YouTube says that you need to show the face of the creator once you gain followers. Well, you can either show someone else’s face or you have another option.
Wherever you live, there must be something that is famous? It could be a restaurant, for example, then all you need to do is to create the video for them and sell I to them for free. Try working this out with Top Notch places. You can do the work for free at the beginning and after a while paid clients will pour in. this could be the best opportunity for you to start a business in India with no money since India has so many wonderful places and a lot of brands.
• Social Media Marketing
It is not even remotely possible for the youth of today’s nation to note the use of social media. We know how it works. All you need is to put up a post, create hashtags to bring the traffic which eventually brings you money. So why not use it as a business? Yes, you may need followers to promote brands or become campus ambassadors.
That’s is not an issue. You are good at something, all of us are. Just keep posting content about the thing you are good at on social media. It could be fitness or diet or dancing or teaching, it could be anything. People will follow you if they like your content. Do you know why? It’s free. If I like dancing and I see a person posting about tips and tricks or dance moves for free by just clicking the follow button, why wouldn’t I follow? This is how you start a business online.
• Graphic Designer
There is no limit to the number of websites in this world. If you have the creativity for the art, you can be a graphic designer. You can design websites or book covers or photoshop pictures. Use this talent of yours to create an opportunity for your future.
There is no end to opportunities if you are someone who grabs it to build a successful path for yourself.
2. The One with Little Investment.
If you have something to invest in for your business, it opens up a lot of opportunities. I am not saying you need to spend thousand or million of dollars. Absolutely not! The investment could even be your two months’ worth of pocket money.
Here are a few ways you can start the cheapest business online-
Drop-shipping is a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product using the drop-shipping model, it purchases the item from a third party and has it shipped directly to the customer. As a result, the seller doesn’t have to handle the product directly. The biggest difference between drop-shipping and the standard retail model is that the selling merchant doesn’t stock or own inventory. Instead, the seller purchases inventory as needed from a third party—usually a wholesaler or manufacturer—to fulfill orders. You can start by creating an account on the popular drop-shipping website Shopify.
• Print on Demand T-shirts
You can buy the plain T-shirts online in bulk from the retailer at a low price, print on it, and sell it for double the price. I know a senior in my college is doing this and he earns about 1lkh per month. You need to invest in T-shirt and a small printer, but the price at which you sell that tee will be much higher than its original cost price.
- Stay Motivated at Work
- Achieve Success in Life
- Failure to Success Stories
- Turn Your Passion into Profit
5 Steps to Start Any Business
1. You Need a Problem.
Observe your daily life and you will find a lot of problems for which you can come up with solutions. Let us take an example of a caterer. Let us name him Sam. Sam is in the catering business for the last one year but up until now he only got 2-3 orders and nothing more than that. Now, why do you think he isn’t getting any customers? Well, there is a lot of competition in the market and he has less experience in this field. A normal person who wants to avail the catering service, wouldn’t he go to someone who has more experience in this field? What if Same starts organizing birthday parties? From events organizing to catering, he can do it all and since he is starting on with this business, he can offer his service at a lower price. There you got the idea for the business. Now you just need the right mindset and the hustle.
2. Think of a Solution to the Problem.
Jeff Bezos started Amazon as an online bookstore. It is problem we all face. To buy books we do have to look at a lot of places. But there he developed a website which compared the prices for you as well and you got it delivered to your house. He found the solution to a problem a lot of people face. I have the problem I found the solution for it and a lot of people have this same problem so there you get your business.
3. What can you do that others cannot?
You are the young generation. The biggest factor you might get from your competitor is the difference in age. While renting a house, some people if you ask them will ask you to go to a broker. If you belong to this youth the first thing you will do is search on the internet and I am sure of this because this generation is the digital era. You can take advantage of this knowledge of social media and technology while others may fail to do so.
4. Start Small, Invest Little.
There are two people- Nitish and Akash. They both want to open a Laundromat. Akash invests his money in a big and very costly machine while Nitish invests a small amount of money in two small machines. Now both of them have the same amount of customers. Who do you think earns more? Why do you need to buy such a costly machine when you can do the work using small machines? While talking about a business that needs little or no investment you need to think smartly. Of course, you can buy more machines when the cash starts flowing in.
This does not mean that you cannot do any business if you have no money.
5. Build a Team
No matter how hard you try, you cannot do all the work all by yourself. You need a team to be with you and support you. Rahul Bhatnagar is a motivational speaker and an entrepreneur who says that you need to work that much that people start calling you a workaholic or addicted to work.
He also says that when you are addicted to your work, there is nothing that can distract you. And your team should see this dedication so they work the same way you do. It is not difficult to start a business with no money, but you need to play your card right.
Also Read: Marketing Tips for Beginners
Expand your Thoughts and Ideas.
A frog living in the pond can only think that there is no other place that can have more water than this. There are a lot of boundaries to your thinking. While planning a successful business model, you need to remove these boundaries and expand your area of interest and knowledge.
Remember it is not tough to earn money, it is tough to plan
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