I have heard a lot of people telling about how easy it is to start a business with no money. To be honest, I never believed them. How can someone create something that people would want to pay for with zero investment? The question only seems absurd. I have read so many stories about people starting a business by investing so much money and getting nothing in return.

These stories depress you. They discourage you. So don’t read them. Because that will make you loose the battle even before stepping in it. And I am pretty sure your mother didn’t raise a quitter. Yes, if you’ve put so much hard work into your business but still it’s failing, maybe you’re in the wrong direction. Maybe you need some guidance. But that by not any chance mean that you’re a failure. That you need to quit.

Just remember one thing whenever you’re about to start a business, does it solve someone’s problem? Does it fill the void that’s there in the market? And if yes, you’re on the right path because your business will be successful only when it’s doing some good to people, helping them in some way.

Coming to our question, so yes it’s completely possible to start a business with no money if you have the will power.

Related: How to become a successful Entrepreneur and not a failure?

4 things you need to start a business

1. Know yourself

Whenever you’re looking out for new ideas to start a new business with no money, you would want to consider the following things:

• Do you have the skills?  If it’s a business that would require some special skills like being a dentist.
• Do you have any experience?
• Do you have any knowledge about what you’re going to create or start?
• Do you have any resources?

You might want detailed and well thought answers to the above questions because that will determine how to go about your business venture.

Finding answers to the above questions is crucial because they will form the basis of your entreprenurial journey. Considering these steps would be the start of your business and you don’t want to make a wrong start.

The skills will tell you how easy or difficult it’ll be for you to go on with the business. If you already have the skills, you’d begin right away. But if you don’t, then you’ll have to spend some time building those skills and then begin.

The experience will determine how you’d succeed with your plan. If you have enough experience, you’d already know the mistakes you might make. So that’ll help you save your time by not making any unnecessary blunders.

The knowledge and resources will help you plan what you have and what amount you’d have to spend to gain those resources and knowledge in order to run your business.

Also read: Simple Business strategy plan to make your business collosal

2. Develop Relationships

If you want to sell something, be it a product or a service, you would want people to sell it to right? Even if they aren’t your customers, maybe they are someone who might help you to promote your business or maybe grow your business.

Making contacts in a business is really important. And knowing how to make use of those contacts is even more important. Build relationships to create new markets.

Map out your existing relationships and find out how you can put them to use more effectively.

3. Invest what you can afford to loose

It’s kind of like taking risks. You should invest an amount, capital and time both, and then see if you can make something out of it.

What most people do is that they don’t want to take risks. They wait and keep waiting for that perfect opportunity. They think that until they can get a guaranteed return on investment, they won’t start anything. This kind of mentality won’t take you anywhere.

You can’t guarantee anything in life. That’s not how it works. And especially businesses. You’ve gotta take risk. I’m not asking you to take risks blindly. It’s important to have a plan but don’t just limit yourself because you’re not sure if your plan will work.

For example, you have $30. Now you have two options, either you can keep waiting for the perfect opportunity to invest those $30 in or you plan out your business strategy and take a risk to start your business. If you don’t take risk, you won’t achiey your goal anyhow.

You might like: You need a good marketing strategy plan, not just good luck!

4. Adaptability

“Don’t make strict rules”, learn this mantra by heart. You succeed by allowing yourself to change as needed and not get fixed on your goals.

Sometimes, changes make you more successful than the original goal you had in mind. Your ideas and preferences should be able to shift as per the customer’s preferences. If you won’t allow for some flexibility and adaptability, you’ll find yourself stuck at one place.

Entrepreneurship is about evolving and maturing your business. I know sometimes surprises can be unpleasant but if you can’t take that risk, you can’t call yourself a true entrepreneur.

Conclusion

Just to sum up, you can definitely start a real business with no money. But then you’ll have to work way harder. And that will come with the risk of burning yourself out.

One solution to this problem is creating a system for your business. If you’re able to create a successful system and then replicate it every single time, you will never fail. That’s what Ray Kroc did.

Hire employees who have the skills and the ability to replicate your system with ease. Because if your product or service turns out as good as it was the very first time, you’re in that business for a long run.

The whole aim of having a business is to free yourself from the job or work. Create a business which can function even in your absence. A business which is successfully running in your sleep. And when that happens, you’ll see yourself in that list of top successful entrepreneurs.

What business do you have or want, tell us in the comments below!

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