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Financial freedom is the most common dream of our life. We many times came across to this question “How to start a business without money?”
You don’t have the investment to start a business that doesn’t mean you cannot take a step ahead.
Have you heard about a Millionaire Colonel Sanders who started KFC Chicken who doesn’t had anything except a recipe?
If you have an idea, believe in yourself and the ability to say let’s start right now, then you can easily make money without any investment.
“You can also start a business with no money.”
You first start with business ideas that only requires your effort. Do not run after doing a big thing at an initial stage.
Table of Contents
Let’s get Started
What Business Can I Start?
I am going to share with you some of the easy business ideas without or little investment who has a good chance of success.
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Start a Blog: You can write something on your own blog that people are interested to read. The income will generate from affiliate marketing, Google AdSense, Sponsored post, Marketing your own product and many more.
Tip: Do not copy past other’s content. Write in your own words, people will like it.
Freelancing: if you are good at anything that can solve others problem like proofreading, writing for others, creating a website, managing social media websites etc. then you can join Fiverr and create your profile and let people know how you can help them.
Digital Marketing: Help other’s business on their online promotional activities. Get the leads for them and earn a good commission.
Computer Repair: This is for the students or someone who knows how to repair a computer very well. 10 customers a day can help you to make good money. This is a business without investment and can be done from home.
Accountant: Usually business owners outsource their accounting work to the accountant to save the cost of hiring a full-time Bookkeeper. You can reach some businesses and ask them to give their accounting work to you.
Sell Your Handmade Art: Handmade art is trending especially who loves to give a super cool look to their house. Contact business who is in this field and have a business contract with them. They will surely do business with you if they like your work.
Create an App: You can create an app and run an advertisement on it to make money.
Start a Dropshipping Business: Dropshipping is a type of business where you sell a product without storing it. A manufacturer ship the product directly to the customer.
Airbnb: Make money from renting your extra room space. You can start this business with no money. Make sure to upload a clear picture of your house so that the people select your room.
Use Your Knowledge To Start a Business
Think of what knowledge and skill you have that can help you to start your own business in less time.
Promote your skills to other businesses and get their work outsourced to you. This can only be possible if you show your knowledge and skills.
In some cases, it doesn’t matter whether you are a newbie or an experienced person. If you know something that you are really expert in, then you can take benefit and give value to your business.
To start a zero investment business, you need to be very active, smart and of course, hard work which is very important.
Starting a business with no money is not rare. You won’t believe, there are many businesses in the world who started with little or no money.
Money is not important to start a business, but the idea and the vision that you have in you is important.
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Create the Best Business Plan That Needs No Money
Every business startup must have a plan to run & manage their business more effectively.
You must find what are the strength, weakness, opportunity, and Threat and make your business simple and smooth.
Zero investment business can be successful if you know how to make money by solving others problem.
So, come up with the problem-solving product/services and put your full effort into promoting your business by yourself.
You can use the internet to promote your business if you have little budget for your business or else having a face to face discussion with customers could be the best option for you.
Face to face discussion works better than reaching out via email or social networking.
Create an image in your customer’s mind that you are a business owner who cares about their customer.
At the initial stage, you should compromise with the price to give the competition in the market. But make sure to keep a good profit margin. Do not launch your product/service at a very cheap rate.
You are going to run a small business to get customers and their trust, you will need to show that my customers are important not money. I know you starting a business for money, but this is how you build a customers list for your business.
Do viral marketing. Do something unique that people start talking about your business.
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How to Zero Out The Cost Of Business
Every business comes with the cost of business, but the cost/expense can be removed from the business if you follow some techniques and get your business to zero cost.
To start a business without money, you need to make a list of expenses that going to occur.
Now think of how you can zero out the expenses. You may be required to learn to do thing by yourself or take little help from family members.
Learn for free on the Internet: There are many tutorials available on the internet for free. You can do some research on Google or Youtube and learn how to get things done.
Believe me, you will save money and eventually you will bring your business to zero cost.
Ask For a Favor: The other idea is to ask for a favor. You should identify who should be the best person to ask for a favor. It can be your friends or customer/client.
Your customer/client may give you financial help by paying you in advance for a product/service if you build trust in them.
Swap: Swap a product/services with other business to save the cost. Yes, this is how you can reduce the cost of business. Exchange service for free with other’s business.
Choose Easy and The Successful Business
The reason to choose easy business is because the chances of success are high.
You first run an easy business, grow your skills and make yourself strong enough to take a challenging task.
Choose the best business to start that can be easily manageable from home so that you can save the cost of rent for your business.
Successful business always has a competition, hence you need to find and grab the business opportunities over competitors.
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Don’t Take Loan to Start a Business
Taking a loan for your start-up business is not advisable, at least at the initial stage. This is because you do not have a calculated earning forecast.
You do not have proof of how much you are going to earn from a business. Will you be able to repay the EMI from profit? There are many questions that you have to answer before taking a loan for your start-up business.
Put your effort as much as possible or ask for a favor in exchange of something.
Your Ideas And Investor’s Money
If you have a good experience in something, then it will become very easy for you to start a business without money.
You can approach proprietor in the same industry. Give them an offer to work with you and show them the analysis on how they will grow faster if they get help from you.
If your ideas impressed the business owner, then they may get ready to support you financially.
You can also approach investors to invest in your startup business. This idea works when you want to start a business at a larger scale.
Or have a partnership with your family member or friend who is very passionate to invest their money and time.
Keep Your Job
Your job should be your backup for any unexpecting situation arises in your business.
You may get influence with the profit of the business that may push you to leave your current job.
Running a business without investment is a little tough and you might find a huge competition.
There may be a time that comes when you are not earning a single penny. You may get demotivated or may think to try something different.
In these situations, your job will support you to fight with such kind of challenging conditions.
You can also work from home to make extra money while doing a regular job.
Is Running Business Without Money Get Success?
Many businesses in the world became a billion worth business without money. I had given an example of Colonel Sanders (KFC) whose business is now more than a billion worth.
Many people has money, but they don’t know the best business to start. This is because they don’t have business ideas.
Money doesn’t matter, but the idea is. You just need to believe in yourself and evolve your skills. Try to do things by yourself and do not spend money for external help.
You will definitely get success in starting a business without investment if you strive for it. Think rationally when it comes to decision making. That’s it!
Is It Advisable to Start a Business Without Money?
It is highly advisable to start a business without investment.
You should only invest when you see a good scale for growth in the business.
You can invest little money if you think it’s must otherwise try to avoid investing money. You can use that money for the promotion of the business in the future.
Challenges in Starting a Business Without Money
- You may find a limited scope for growth.
- You can only start a business in a smaller scale.
- Required extra effort because you will be required to do many tasks by yourself.
- Sometimes it’s time-consuming as you might get stuck in the things that you don’t know.
- Cannot do Online paid promotion.
- You may run short of important equipment to start a business.
Invest In Yourself to Become Successful Without Money
Keep learning new things that evolve your skills. Improve your thought process so that your perception level improve.
Learn from successful entrepreneur and read their biography. Learn how they turn the impossible task into possible? How they think and generate smart strategies to fight with the challenging situation? How they reduce the cost to get more profits? How they turn their small business ideas into big?
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Tip: Never let your emotion to take control over your decisions.
Whenever you take a decision, ask yourself, Is this the best decision that I am taking to run the business?.
Do not waste your time in correcting yourself, instead show your proactiveness and avoid doing mistakes.
Before taking any decision, do some research on the internet.
Founder of twomillionways.com
MBA – London
I am here to share my ideas and experience on how to make real money.