It is not right to assume that you need a lot of money in order to start your own business, even if it is just a small home business. This is one of the reasons why some people are hesitant to venture into business because they fear that it won’t succeed considering they only have limited or no financial resources at all. However, these people need to be reminded that starting your own home business doesn’t need money initially. As a matter of fact, there are well documented stories on how numerous business owners did it. Here are some ideas gathered from the experiences of those who started their own business with no money and ended up very successful.
1. Produce something handmade.
In other words, you have to work on your own product. Yes, you need money to create products but you have to take note that the finished product can be sold. This is the initial path Mattel ventured into. Before they became known as the Barbie Company, they simply produced and sold picture frames first then went on to make dollhouses and left picture framing.
2. Try reselling.
This strategy doesn’t need capital to begin with as you can find something at home that might be useful for others and sell it to them. You do not need new products at first. Once you have an ample amount of capital, you can move one to scouring thrift shops and antiques shops to resell like what Nasty Gal founder Stephanie Amoruso did by buying and selling unique items on eBay.
3. Commit to perform all do it yourself activities.
This is what happened with the owners of Whole Food Market who were college dropouts and have to make do of what they have such as taking a shower using a washing machine because they were evicted from their apartment because they used it as storage area for their store. Thus, they lived in their store and since it is located in a commercial zone, there was no shower stall then.
4. Use Barter Trade or Exchange of Services.
Offering your skills and talents to companies you want to conduct business with is a good start. For example, you might want to offer your bookkeeping skills in order to let them display your products in exchange as payment for services rendered. A perfect example of this is Ken Chee. He started 8 Investment with almost no capital and with only $1. After 20 months of offering stock investing program, the company earned $3.5 million and $13 million after 5 years.
As mentioned early on, the above ideas were come from real life experience and mindset. If you want to know more how to shift your mindset from employee position to business owner position, you can refer to Robert Kiyosaki International Bestseller Author book, “Rich Dad Poor Dad”. The book will coach you how to build business and investing mindset on the road to financial freedom before you start up online or offline business empire. Because owning a business is really different from having a 9 to 5 job; thus, you need different sets of rules and mindset. This is the most important benefit and help that you will freely receive from this book.
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