Story of Successful People!
Are you wondering how you can start your business with almost no money? Here’s how successful people have done.
When you have no money, how do you get started? Simple! Get a job! Yes, go get a job first. You need some money to do anything – to improve your skills, to buy books, even to survive you need money. You can’t just wait around and wasting your time in watching movies, playing games and in the end say oh what should I do? I have no money to start my dream business… Stop excuses please! … Go get a job first. No matter what job it is, I myself have worked in shops, selling products, washing dishes, cleaning the floor, I also went through this period what is wrong with it peeps? look where I am standing today. You can also stand at your dream place only if you get rid of your pride and stop saying why I do this kind of job. Just put your pride aside and do a job first plus on your spare time to increase your high-income skills, plan your business initiative, develop your skills.
What is High-Income Skill
High-income skills are those that can make you earn more than $10,000. It is not the business. It is a skill set that you can develop to sell it as to offer in exchange for money. Do your day job whatever it is…at night time develop your high-income skills and became able to earn more and more. When your high-income skills producing you more money and you get enough money from a job, you can now quit it and pursue some other job … Now you can pay bills, you are eating, taking care of family and you got a roof over your head. At this point, you can take step towards business. Start from the initial step than taking steps towards up. If you consider taking your first step from the top rather than going through initial steps it does not work. You need to go from the start. Get a job and earn enough. From there you can start a business, give partial time and grow market and sell.
Right Course of Action and Advice – To Start a Business
Now, you get closer and closer to your dream and you can go for investment, incubation, acceleration and much more. The problem is you don’t know how to think independently, what the right advice for you at this given time. Everybody is saying different things and you don’t understand which advice is right for you. So, you are confused. The right thing for you is to start from the low and take the advice from the right people above you and so on and move towards the peak. You cannot go for it and get rich overnight. Eventually, if you are doing good you will be at the peak someday. Don’t day dream like Oh people on Instagram are driving this car etc., they are going on vacations, they are living in big houses whatever. Think about yourself that you are making like nothing. Don’t do that and get a job first. Take the baby steps. As long as you are getting closer every single month and every single year you are getting closer to your goal. Don’t give up! Take the first step today It’s never too late.
Also, we have come across this phrase many times in our lives either from friends or family members that “I want to start a business but I don’t have enough money.” So, we have decided to provide you a guide on how to start a business with almost zero money. Though it’s true that ample money, a team of investors or a relative with deep pockets can make starting a company easier, while not having money is not an excuse. If you consider your business idea is something people want, then do not hold back because of less or no money.
Following are some techniques (follow these with the above ones) to bootstrap your way to a successful business:
Techniques to bootstrap your way to a successful business
Sell your services to flow cash in and fund a product-based business.
Starting a business which sells services is easier than running a product-oriented business. In services-oriented business, you provide services first and then you collect cash while a product-based business often requires significant cash first to get the business up and running. If you find yourself in this situation, then think about selling services to create a flow of cash and to bootstrap your way for a product-based business.
People have done to get hired by companies to create those companies the products that they want to build with a condition that those companies would pay these people funds to build those products.
There is no substitute for blood, sweat, and tears.
Sometimes you really have to go all out to make it happen. We remember the days when we used to ride a bike and go to each and every business to hire us, give us business. We have made cold calls and we used to call the leads all on our own. We used to have a room on rent and we worked inside it were CEO, owner, and 1-2 employees worked side by side on the same sitting area. For those years, we did not earn a paycheck. But we believed in our services and the quality that we were providing. Hence, the hard work paid off.
Desperate times call for desperate measures.
The fundamental philosophy of entrepreneurship states that to be successful, you should stay firm in one direction of the business and not deviate from it. But since drastic times require for drastic measures, this philosophy takes a backseat. If you are having trouble generating stream of cash to fund your business, their number of creative things you can do, such as:
Use resources at hand in new ways: Look in your friends, family members or others, see if you could find a skill that they possess which you can generate cash flow. Sell that person’s skill and give the person a commission and fund your business from the money.
- Join an incubator: If you believe your business idea is solid and you possess a practical business plan then consider joining a business incubator. Upon acceptance, these incubators provide funding, mentorships from successful entrepreneurs and reputable and expert industry leaders to give you all the funding and insights needed to help you run a successful business.
Incubation programs are sponsored by both local or regional economic development organizations and colleges and universities. Higher Education Commission of Pakistan had initiated the establishment of Business Incubation Center’s (BIC) in public sector universities to provide basic infrastructure and allied facilities for researchers and young entrepreneurs who are interested in developing early-stage business ventures. As of today, thirty universities around Pakistan have established Business Incubation Centers. You can view the whole list from HEC’s official website.
- Find an accelerator: These are like incubators but they focus more on providing funds than mentorships. Furthermore, they expect a rapid response to their investment. If you have a killer business idea and you think you can hit the market a lot quicker then this option is for you.
- Crowdfunding: Crowdfunding platforms are changing the whole landscape of capital whether you are building a tech business, or selling marketing services. Crowdfunding is a practice of raising money from a large group of people who each contribute a relatively small amount to fund a venture.
In the end, I must say Hard work is the only way to start generating money for your business. You should roll up sleeves, stop wasting time and get to work. Despite what others may tell you, there is no easy shortcut to start a business. But you can climb the ladders faster if you have a killer business idea.