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Don‘t have the money to start a business? Never mind, start without them

28. 04. 2015Author: Alexandra John

Are you worried where to get enough money to start a business – to rent an office, buy a decent car and pay employees? Cheer up – you can start your business even with a small amount of money.

Don‘t have the money to start a business? Never mind, start without them

It would really be a shame if you were discouraged from your intention to stand on your own feet by just the fact that can’t afford it at the moment. It may be only in your head. That is, unless you stubbornly insist to build a fish factory while so far you have been working as a dental assistant or a zoo caretaker... Anyway, why is it that you don’t want to stay in health care or the zoo? Because that's the key - if you don’t have equity in the form of finance, start the business using your cleverness, talent, life experience, commitment to hard work and learn new things.

The essential thing is to get an idea which field you want to work in, what kind of activity will be fulfilling for you and profitable at the same time. Ideally, you will want to build upon the experience you already have at least in part, but it’s not absolutely necessary if you are ready to pursue further education.

 

Did you realize that you already have plenty of skills?

There are entire fields of business where you don’t need much to start. A perfect example is consulting or instruction (in any subject you're good at). As a marketing expert, all you need is a laptop, knowledge and experience in the field, and perhaps some the contacts that you may already have from previous practice. The same is applicable to nutritionists, accountants or tax advisors, masseuses, babysitters, dog walkers or au pairs, private tutors, hairdressers, interpreters or translators. In many professions, all you need in the beginning is an office at home and a public transport to get to your clients.

Be resourceful. Do you dream of establishing a dance studio for children? How about contacting a private school instead and offering them lessons for their students? Do you enjoy watching discounts and shopping? Specialize in weekly shopping – all you need is two good hands and a car. You’ll certainly find enough people who are busy or who don’t want to spend their time driving a cart around the supermarket. Speaking of food – do you like to cook? Underground restaurants are "in" nowadays. Even you can serve gourmet lunch or dinner in your home. Use the "sell first, then buy" system – ask the registered guests for deposits, then buy ingredients with the money you obtained.

 

Conduct your business online

How to advertise your services? In the Internet age, it’s a piece of cake. Anyone can build a simple webpage or set up a social network profile. An online presentation will enable you to expand the services you provide physically and do them online – like counseling, teaching online courses or selling books.

Sometimes you don’t even need to do any physical activity. The very act of conducting a business online can be described as low cost. Starting an e-shop is certainly more financially reasonable than setting up a brick and mortar shop. You can use it to sell anything that is currently of interest - dried fruit, hand-tailored dress, hand-made jewelry, toys and home accessories or your own e-books. Or you could deliver goods to you customers from a wholesale supplier. E-shops frequently use dropshipping – a business model which eliminates the need to invest in storage for goods you’re selling. Even though you offer products as your own, you never come actually touch them; you just place an order with the wholesaler.

 

A modest start will allow you to straighten out any flaws

Among other ways to do business that don’t require a lot of capital (and actually not even previous experience) like franchising – purchasing a license from another company to use their already established brand, know-how and support for your business; or network marketing (multi-level marketing) which depends on your personal abilities to make sales and where even derive profit from income made by other people you brought in.

As you can see, there are more than enough ways to try your entrepreneurial skills even without large investments and risk. It’s advisable to postpone giving notice from your current work immediately and initially build your company in your "free" time. There are more reasons for that than just avoiding financial uncertainty. A modest start will allow you to straighten out any flaws, experiment and see what works and what does not and steer your future direction and activities accordingly. 

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