SES 76: How to Start a Business NO Money?

Have you heard someone say, “I don’t have enough money to start a business, but I have ideas for my business”? Starting any kind of business is little easy when you have a good bank balance or some funds for your business. Initial funding is helpful if you’re thinking to start a product-based business.

Thus, today I’m going to tell you the truth which you probably know it already or maybe you don’t want to hear it. But either way, if you’re thinking of starting a business for yourself with no money, or planning to start making money for your business, then you should know all your options. And truth is that you should think of getting a job – a part-time or a full-time job. Yes, getting a job or having a job purely means a constant flow of money to your bank every month, which gives you financial stability. Plus, you can always start any kind of business, with your savings or once you have sufficient funds to start one.

I understand the whole “I don’t want to work for someone else” and “I want to become my own boss”. But trust me, it becomes a lot easier if you have a job and have some money to begin your business. You might have heard – Having a job makes you less desperate to get a job anywhere. This principle works for all fields, irrespective of the job types. If you’re already working or have a job, then you have confidence required for the next job; you have the right kind of mindset to get a job. If you have a job but you don’t have enough savings or money to start your business, then you can get a loan from a bank.

If you have a certain amount of funds coming in (perhaps from a job that you’re doing), then you’d know that you don’t really crave for that money, rather you’d know that you need it for your business, as you want to become your own boss. Once you’re content with your aim in life and the job that you’re doing, you can have your bills covered and support yourself financially, which will make you free and independent. That way, you can successfully initiate your own business from the scratch.

The constant money flowing or coming in from your job, will be useful to support your business you wish to launch, since you’ll be able to start a business quickly and efficiently, plus you’ll be able to invest in all the aspects of your business, instead of taking loans from the bank.

Investing in a business can take up any form. Let’s say you want to invest in hiring a good talent to advertise your business and make your business a big brand, or a designer to design your business’s website, or even a graphic designing. Purchasing a software for your business, or buying a subscription, can be called investments for your business. Thus, the more you invest in your business, the quicker it will grow. The amount of time your business will take to grow into a huge brand and reach thousands of customers worldwide, totally depends on how much you spend or invest in your business.

Money’s flowing in, now what?

So, once you have a job that gives you financial stability and once you have enough funds raise to start your business, become your own boss, what should you do? What to do next? The next step before starting a business, is to get a valuable skill, something that you can offer to the clients or customers for your business. Make sure to learn a high-paying skill that will either make your customer’s life easy, or help a client make significantly more profit using your skill. FYI, these are not the easy skills, we’re talking about the high-paying skills to acquire. Because if the skills were very easy to acquire for a business, or to get clients, then everybody would have these skills and they wouldn’t be valuable any more. Learn and acquire a skill that’s not easy to find on the internet for free, very rare and something that will make you distinguish from other or your competitors in the market, using which you’ll be able to provide value to others. By learning and eventually mastering these high-paying skills will transform you and your business valuable for the clients or companies and will also boost your earning potential.

Once you’ve learnt the skill necessary for your business to attract clients, start practicing for free for some period of time, in the beginning. Why? Because you need to be good at it. You should be good at what you do and what you do, based on which you’ll be able to attract clients easily and charge them accordingly with time. Acquiring a skill is an easy step, but learning each and every aspect of it and mastering the skill is tricky and tough too, which is why people usually give up after a certain time when they get no leads or no business.

Besides your regular day job, I’d suggest freelancing too, whenever you get time (after work, or weekends), which will keep your finances flowing at a constant rate. When you develop or build a content that helps people and also demonstrates your niche or your expertise, then you’ll naturally attract clients. These clients will be able to see how good you are at what you do, which is why they’d love to hire you to work with you again in the future.

Therefore, the major step in making money, starting your own business and becoming your own boss, is to freelance and work on the side. Don’t quit your regular job (day job) yet, so that you have money flowing in consistently.

Ways to Starting a Business

Let’s say you’re working for your regular day job, and also freelancing on the side. Then, you’ll have two options for starting your own business.

  • Option 1: Try to get more and more number of individual clients to hire you for your services from freelancing, so that you earn enough money to support your business or simply make money equivalent to what you earn at your day job.
  • Option 2: You can determine or calculate the reasonable amount of money that you’d need to support your business, and once you’ve crossed that threshold level, you can quit your day job.

So, now you have wide options as per your budget as to which option you’re comfortable with. You can decide then whether you want to earn just enough money from freelancing for your business, or simply as much as you want from your freelancing projects. Continue this process until you’ve sufficient income coming in to support your business and cover all your bills.

Working as a freelancer you’ll be able to work for your business full-time and grow your business and make it a huge brand. This whole process not just gives you initial funding to start your business, but it also gives you enough confidence for various number of opportunities available for you in the market. Now, you can either continue freelancing projects on the side for financial stability, or you can start hiring people for your business and scale it to whole new level. Plus, you can always enhance your skills and implement them into your business to grow your business bigger and better.

I hope you’ll find this blog helpful if you’re interested in launching your own business in any niche of your choice, or if you have very less budget to no funds at all to start a business. Do share this blog with your friends or family, who you think are planning to start their business in the near future and you think this article will be really helpful to them. If you haven’t already subscribed to the blog yet, I’d request you to do so, as we publish great content on SAP, Online Marketing and Business every single day (6 days a week!). So, make sure you never miss an update from us.

Finally, CONNECT WITH ME ON FACEBOOK HERE. I’d love to hear about your experiences and challenges you faced to grow your business or if you want to create your first landing page to showcase and advertise your business or your products and services. I’d also love to help you in your Entrepreneurial journey so that you achieve success and get a crazy business launch.

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