How To Start A Business Without Money

WHAT IS A BUSINESS ALL ABOUT?

Starting a business does not require that much capital. In reality, to start a business you don't need to have any capital to begin that business idea you have in your mind. 

All you need is the desire and right mindset to get that idea of yours into a business. Mind you the primary goal of businesses is to make money but before your business makes money there are processes to it before you start seeing results. 

Many successful businesses begin as small startups which later became big with time. To a newbie, the idea of starting a business might be scary because of the obstacles to be encountered but with the right mindset and determination, a new business will definitely grow and earn passive income.

There are different categories of business you can start which won't cost you cash. Like selling services, internet-based businesses; this doesn't include offline-based businesses because most of them require capital to start. 

A known fact is that we all have skills and services that people want, by recognizing your skillset and selling a service you can make money without having to go through the nitty-gritty of starting a business. 

After recognizing what kind of business, you would love to start then you have to apply some rules to get your business up and running. 

Here are two rules you should put in mind before starting the business which are FOCUS & CENTS.

F.O.C.U.S (Face One Course Until Successful) - As a business owner, jumping from business to business will do you no good in the long run. Focus on one particular business is the key to having a successful business. 

C.E.N.T.S - Every successful business must fulfil these four commandments called (CENTS) CONTROL, ENTRY, NEED, TIME, SCALE. The business you want to start must not violate any of these four commandments if you want your business to be a success.

Control - means you as a business owner control your business entirely without assigning leadership to another person in your stead.

Entry - If your business is easy to start you might be violating the law of ENTRY. Businesses like blogging and affiliate marketing are easy to begin these days as most people are doing them. A saturated market doesn't need you as one who wants to find a good business model to venture into.

Need- The market must have a NEED for your services or skills if you want to obey the commandment of need. If your business violates the commandment of need you may find yourself doing what other businesses are doing which might be already saturated you won't be able to have as important an impact as you will know. So, your business must affect the commandment of the need to grow fast and be recognized as an authority.

Time: To be financially free from your business needs to fulfil the commandment of TIME. Although not all businesses can detach from the time it is wise to build a business that in the long run will detach from your time whereby you won't have to focus much more on it before it yields your income. This is where you build passive income amor what the public calls make money sleeping.  (Read, The Millionaire Fastlane.)

Scale: A successful business should be able to SCALE its skills and services so that it can reach a wide range of people all over the world. 

THINGS TO DO BEFORE YOU START A BUSINESS.

Starting a business is no small feat whether a big or a small-scale business.

Before you start you will need to do some key things to get your business up and running. Below are some key things you need to know before you start your business.

1. Message

Every business needs to have a message or a mission that is what will endear customers to you. Your message includes what you have to offer or is simply called your value proposition; with this, your clients or customers know what you are about before you get contacted.

2. Business plan:

Before anything first, you need to have a business plan. In this, you have your business planned out. You should identify both small and big tasks in your business plan and break them down into how you want to carry them out. 

3. Market:

When starting out a business you need to identify your market beforehand, what needs do you want to solve? What do you know about the niche you are about to enter? Who are your competitors? All these are questions you should ask yourself before starting a business if you want your business to thrive in no time.

4. Find a mentor:

No person can have all the knowledge and experience or even ideas to handle every business obstacle. They have to gain skills and experiences from others. When you are starting out a business you need to find a mentor who you can count on when you need help. A mentor doesn't necessarily have to be someone who is into your type of business. A mentor can be a motivational speaker, a family member, or a friend you trust. You can find mentors online at http://www.score.org/. You can also get paid mentorships for your business.

5. Be Passionate:

You need to be Passionate and always work hard for your business. Handling a business can be very lonely and an uphill adventure. When the going gets tough it's the passion that you have that will keep you going to overcome your obstacles.

6. Finances:

Although not all business requires capital to start it is absolutely crucial to have some money set apart because, in the long run, your business will need funding. You can find investors or angel investors or you can simply take a loan you can repay in said time from a bank.

5 BUSINESSES YOU CAN BEGIN WITHOUT CAPITAL.

There are countless businesses that you can start with little to no funding at all but I am going to list 5 super profitable businesses you can start without capital. This list is in no particular order. 

1. YouTube Channel

Starting a YouTube channel requires no capital. All you have to do is just create a channel and select a niche. To be a successful YouTuber requires consistency and persistence in whatever niche you are, then you will find success in 6 months-1year

2. Affiliate Marketing

You can start affiliate marketing from the comfort of your home with just your phone or laptop. All you need to do is find a product company you like, find them a customer by referring them to the company and you get a commission for every sale made.

3. Freelancing

Websites like Upwork, freelancer, and Fiverr are examples of freelancing sites where you can sell your services for a fixed price. You need no money to start a freelance business, just sign up on your favorite platform and offer your skill in exchange for cash.

4. Digital marketing

Digital marketing is a wide field, it has different components where you can just pick one and turn it into a business. Social Media Marketing Platforms, Influencer Marketing, Email Marketing, SEO marketing are all part of Digital marketing. 

5. Web Design

Web design skills are super profitable if you can take your time to learn the skill. The internet is replete with various web design lessons.  

CONCLUSION:

You have learned in this article what starting a business is all about and which types of business can make you money without any capital.

All you need is a skill you can offer and with persistent determination, you will surely have a scalable business that generates passive income.