You want to become a businessman, you already have an idea and the dynamic lifestyle of businessmen fascinates and inspires you? In order to become an entrepreneur, you realize that you will have to take some risks, leave your current job and survive without income for a while.
In theory, everything is clear. In practice, it all comes down to 4 words: you have no money.
But what if you found out that the vast majority of successful entrepreneurs started like this - without money, without impressive capital, only with courage and actions? You probably feel a little more encouraged now, but still not enough to get down to business.
Let's start with the essence of the problem. Why do you need money to start a business?
Although it seems like a problem, lack of money should not stand in the way of fulfilling your business dreams. There is no set fee for starting a business. It would be good to make an estimate to see exactly the amount you need. This will make it easier for you to set a minimum fee or look for alternative sources of funding.
Usually, the inevitable expenses when starting a business include company registration, activity licensing, production equipment, merchandise, storage, office, employees, etc. Once you have written down these amounts and can visualize them, the necessary capital becomes clearer. But still, how can you start a business if you don't have much money?
With these start-up costs already established and it being obvious that your money is not enough for that, you have two options: increase your capital from external sources or decrease your expenses.
Increase capital from external sources
Here are several options:
- Borrow from relatives / friends
- Take a loan
- Look for investors and convince them to partially or totally cover the related expenses
- You're starting a crowdfunding project
- Apply for grants
Reduce expenses
Another option would be to easily change the business model you want to launch into one that would require less expense, at least at the initial stage:
- Instead of starting a company, start by offering consulting services, but as a freelancer
- Instead of renting an office, start by working from home
- Look for cheaper suppliers or for those who accept payment in installments
- Initiate a testing period of your idea, by launching a blog / page on social networks, where you address a limited target audience and offer a narrow spectrum of services / products
Lack of money, total or partial, does not mean that you have no choice and you must comply with the fact that you will never launch your business. Your skills are what generate the business idea. Combine them with a little marketing and a lot of work, and the result will surprise you.
If you truly believe in your business idea, you will not be reluctant to make small personal sacrifices, such as giving out free time, personal savings, the commitment to take out a loan and repay it later, and so on.
