Have you contemplated starting a business, but looked at your financial state and put the brakes to your dream?
Let off the brake pedal, because you can still realize your dream of starting a business.
Here are 4 tips on starting a business with little or no money.
Starting A Business With Little Or No Money Tip #1: Start With A Service
Maybe you have a product idea, but the best way to generate money to make production of your product a reality is to start by selling a service that really takes little, or no start up funds. Use your profits from the service sales to fund the production of your product and, Wham, you have your dream running.
The service could be anything from building websites to SEO.
Starting A Business With Little Or No Money Tip #2: Keep Your Job
Wouldn’t it be great if we absolutely knew we could start a business and have it in “the black” within 1 or 2 weeks? But that is illogical. It rarely happens and any profits coming in need to usually go back into the business to grow and become successful.
The best advice we can give you is keep your present job to pay those bills and feed your family. Work the business in your spare time. By following this advice, you will feel less stress.
Starting A Business With Little Or No Money Tip #3: Build The Business On Your Passion And Knowledge
I have witnessed it time and time again… A person sees another doing well with a business and they assume they could also do well. The thing they don’t consider is the other person’s knowledge base and passion.
It would be like me trying to start a business in auto parts. I have very little understanding about car parts and just that alone would be a check mark against potential success. I also do not see myself having much passion about auto parts… So check mark #2.
If you have passion but little knowledge, you can learn or bring in people with knowledge.
If you have the knowledge but little passion, I would say you should seek a different idea.
If you have both knowledge and passion, GO FOR IT! Those are the key attributes to have a successful business.
Starting A Business With Little Or No Money Tip #4: Seek Startup Funds From Sources Not Usually Considered
If you went out to a bank to get a loan to start up a business, you may have to put your house up. Is that really what you want to do? How does your spouse feel about that?
There are other ways to get funding. You may ask friends or family to invest.
I want to also explain another way using a blockchain system I am co-founder of.
The way is through tokenization. You are simply creating a cryptocurrency and friends, family and fans can simply purchase your tokens which will help fund your business. As your business grows, your token’s value will grow too and they will be making money as will you.
The way to do this is on the Nasgo Blockchain. Just read this post to see why and how you can tokenize your startup quickly and easily.
There are many businesses a person can start with little or no money. You just need passion and a willingness to do what it takes to succeed.
Do you have any questions?
Just post them below.