Many, many people are reluctant to create a business (or even think about creating a business) for fear of high investment costs. It’s a common myth that starting a business requires money, however this just simply is not the case. This article will show you just how easy it is to start your very own entrepreneurial empire without having to sell a kidney to fund it.
Tools for Creating a Business
The right mindset. The key to any success is persistence and perseverance. You must be willing to invest your time if not your money – although businesses may generate their own passive income over time, you will need to put a fair amount of elbow grease to begin with. Hard work always pays off.
Thinking in the long term. Thinking in years rather than days will massively boost your motivation and drive to keep going with your business. Although entrepreneurialism isn’t a get-rich-quick scheme, it will, with time and effort, give you total freedom to travel the world and make the most of your time will still generating a full-time income.
Supply and demand. Is your niche taking advantage of something which people will want and will pay for, or is it based solely on your personal interests rather than those of others? It is important to match the needs of the market and to fill a hole in the industry that is not currently being filled.
Don’t make excuses! Your excuses are your personal barriers – claiming that your business will not work because you have ‘no time’, ‘no money’, ‘no good ideas’ is a defeatist attitude that will only set you up for failure. Your beliefs about what will happen will massively influence the reality you create for yourself. For example, if you believe that you will ‘never create a successful business’ you will limit yourself with this mindset. If you truly do not believe you are able to create a successful business, you will likely put in far less effort into making this wish a reality and thus will never create a successful business. Believe in yourself. You are more than capable of achieving your dreams – your future self has already achieved them and is waiting for you to make the right decisions. Make them.
Your future is your control. That is a fact. Everybody has a dream, somewhere, even if you haven’t uncovered it yet. That dream is your destiny, it is what you were put here to accomplish. Do not let money hold you back.
You may need to start small to work your way up. Maybe you wish to start a new healthy fast food business, entirely vegan friendly. As we said before, you need to focus on years rather than days. Start small, maybe start through making vegan snacks to sell to your local community, or drafting an eBook about how to cook your favourite meals as a vegan. Work your way up from here – as you climb higher you will be able to achieve more and money will come, it really will. The key, though, is not to do it for the money, do it for the dream. Do it for yourself.
Starting a Business Without Money
While mindset and mentality is absolutely key to creating a successful business without money, you’re probably wondering how exactly do you go about doing so. Below are a number of different starting points for you to begin with.
If you have any level of skill in arts and crafts, creating things to sell can be a great place to start. Although gathering materials in order to create may involve some costs, these products can then be sold for far more than they cost to make. Many huge companies started out through simply making things to sell.
If you’re not the artsy type and don’t have space to store products, reselling can be a great way to earn money as a retailer rather than a manufacturer.
Dropshipping is a great way to earn money through resales. Dropshipping is the process of advertising a product that you do not own. When this product is purchased, you place an order from a wholesaler and have the product shipped directly to the customer. This way, you never actually handle the product but still make a profit through selling it at a higher price than it is purchased at.
Browsing thrift stores and antique shops can also be a great way to find products to resell at a higher price. Oftentimes, shops of this nature stock items that they know little about and thus do not sell them as highly as they could. You, a reseller, can take full advantage of this.
3. Maximising your expertise
Another great way to earn money is to sell your services. If you are skilled in a particular area, say, mechanics or playing a musical instrument (or speaking English, French, writing poetry – anything you can do well) then you could sell these skills to other people. This way, you can earn through teaching somebody to do something you love doing anyway. Selling your services requires no startup costs and could lead to developing a successful business further down the line. Even if a business is not started, this can be a great way to earn some cash to help you start your business.
It’s clear to see that the belief that money is essential to starting a business is a common misconception. There are a wealth of methods to not only starting your business but earning money to fund it without having to put any in. Take each of these methods and make them your own. Find what works best for you and the money will come.