When I was in college, I want to start my own business by looking at the amount of money the xerox person make in one day. Starting a business can be simplified with the help of LLC services that assist with the formation and management of a limited liability company. I also find some other business-like Cigarette shops, Snacks Shop, Game parlous near my college are some business which is performing very well. They make lots of money every day and the best thing they are their own boss. I also want to become my own boss and therefore after completing my college, I started my own business. In the past 2 years, my lots of decisions are wrong and most of the themes are right. So, in this post, I am going to share my personal experiences of how to start your own business with no money.
I Belongs in a family where no one has any business background. My father, mother, uncle aunty every one in family work for the company. So, it was very tough for me to start my own business without any family background in the business.Â
Also, I started my business with less than 20,000 Rs. It was a very tough decision for me to do business instead of Job. But family after 2 years I can say, that was the best decision of my life. Now I am running a profitable business.Â
How to start your own Business with no Money?
Here I am going to list all the points which you should know before starting any business. I will explain all the key factors require from mindset to one of the profitable businesses.
1. Mindset:
The first thing which you have to keep in mind is Anyone can start a business without any money. A successful business needs lots of capital in starting is set of minds only. I started my website, review sutra in less than 50 dollars and now I am making more than 1000 dollars from my website. I know this amount is not that much but it good to have one passive income from side work. A successful business does not require lots of money to start. But it good to have money to make things easy in business.
2. Start from Basic:
At the starting of a business, you should waste your money on buying things which are not really required for your business. You can start a business with what you already have. Try to brown money from your friends and family instead of a bank loan to avoid any interest. Also, make sure you use things that are already present in your home of premises. For example, you can start a chocolate business with your kitchen instead of Big manufacturing factory.Â
3. Plan everything in start: Â
Before starting any business, you should know how you will make money from your business. For example, Amazon is one of the biggest market leaders in online shopping but it does not make any profit in the last few years. In the long run, this type of business is not sustainable. So, make sure you plan everything before starting any business. You should have a blueprint for your business which you are going to start.
4. Invest what you can afford to lose:
Many people Do one of the baggiest mistakes in their business carrier is, they invest everything which they have, which is not a good idea. You should always have a backup plan if your first business fails. So, make sure you try to minimize the cost as much as possible in your business.
5- Experiment Things in start:
None of the plans is best in starting. You have to experiment with many things before Final execution and becoming a profitable business. The best time for an experiment in the starting time of your business. If you do an experiment in the starting time of business then the chance of becoming fail will be very low. Also, you will lose a very small amount of money if you do this thing to start.
6. Analysis of your competition: Â
who are your competitors? Are they being good or very good in their business? What is the week point of their business? This type of question will help you to understand you, competitors, before starting any business. You can also do a survey before launching your product in the market. This will help to understand what type of product normal people like.
There are many other points also which you will learn when you start. I have covered the main points which I think you should know before starting any type of business.
Conclusion:
Now you know my secret recipe for success which I earned by doing business for the last 2 years. Before starting a business, you should ask a question to yourself, you really want to do business or everyone is saying business is best for making money, that’s why you want to start.
Let me tell you one thing doing business is more difficult as compare to your 9 to 5 job. But If you really want to become your own boss, then the business is the best idea. Just start with what you have. If you plan well you will surely make a profitable business from day one.
I hope now you have an idea of how to start your own business with no money? If you have any questions or suggestions then let me know in the comment box. I will try to help you.
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