Many entrepreneurs go through the dilemma of finding a job versus following their dreams and setting up their business, because they either do not have enough money, or they feel that they cannot start something up without big money.
Well, the truth is that entrepreneurs have been setting up successful businesses without having to find initial funding. After all, it is truest test of an entrepreneur; to make something with the limited resources available. What it takes is a bit of common sense, and clarity of thought.
Know that there has never been a better time to be an entrepreneur, because well, the internet. You could be relaxing on the beaches of Goa while building your brand/service.
- Make something
If you have an innate creative spirit, or a passion for something, tap into that passion, and make something. Wooden toys, candles, even clothes are items which can be made and there are loads of places to market them on.
Or have a knack for something unique, your skill set can really help position yourself well.
- Offer to resell
If you do not have the creativity or the time to make something yourself, there is an entire world of opportunities out there for you. Open an Ebay or Amazon account to start selling your products online.
If you happen to live in a country where there is little purchasing power, know that the internet offers you a huge opportunity to sell items to consumers in other countries.
When buying, make the most of your money by shopping at garage sales and auctions, and use social media to find out where these items can be sold.
Utilise drop shipment services from online marketplaces, so that you don’t need to spend money on logistics solutions for the time being.
- Sell services rather than products
Whilst making products take time and money, services are readily available and can help you immediately make money from your time, thereby realizing a better return on investment for you for less money.
Whilst some services such as accounting, take higher learning, there are loads of other services which can be offered without this. Cleaning, delivery services, are such examples. Take advantage of the online craze, purchase a motorbike, and register with e-commerce platforms to help with deliveries. This should earn you a decent return from the very beginning.
- Word of mouth and social media
Once you have a product or service, it is really important to get your first few clients to spread the good word for you. If they like you, they will do so for free. Give them the absolute best service you can provide, in order for this free marketing to do wonders to your business.
In addition, make sure you utilize the free social media channels around to market your business, until it gets to a stage where you can start affording to pay for online marketing. Use friends and family to help spread the word online as well, by clicking that like and share button, so that other networks get wind about your startup.
Norman Vincent Peale once stated that, “empty pockets never held anyone back; only empty mind and empty hearts can do.” So as long as there is an intense burning desire to follow your dreams or set up your own business or bring something crazy; lack of a cash reserve or having big money is the least of your problems.