Have you ever forgone a great business idea or given up on starting a business because you don’t know how to start a business with little or no funds ? A lot of Entrepreneurs get discouraged and give up great ideas because of lack of funds, I know I’ll look like a joker if I tell you that you can actually start that business you have in mind with little or no funds. Yes it is possible, this article will be giving you effective tips on how to start a business with little or no funds.
Identify what you will need to be able to provide your business products and offerings.
- An Hair stylist will need Comb, hair cream and mirror first for a start. Identify what you’ll need to provide your business offerings. By identifying your needs you can start any business with little or no funds.
- Know their alternatives, a baker who does not have an oven can use the local baking method or a lesser brand of oven for a start. if you’re a baker and cant afford the industrial oven, you can go for the lower quality or local oven that your funds can carry or better still adopt the local baking method until you’ve saved enough to get an oven.
- Start sorting for those things.
- You can go into an agreement with someone who owns the equipment you need so you can be using them for the some time until you save up to buy yours.
Acquire the requisite and necessary skills needed.
The best way to start a business with little or no funds is by learning a skill. Skills are vital in building sustainable business because you won’t do so much without in a business you have little or no idea about.
I’ve seen a lot of businesses shut down even with availability of funds because of lack of the necessary skills and knowledge needed for the smooth running and maintenance of that business.
It’s one thing to jump into business but it’s another thing to have the skills required to be successful in that Business.
Acquire requisite skills and start making money from your skills.
Then save up to develop and grow your business.
Affiliate Marketing is one of the high income paying skills in the digital marketing world.
It is performance based where you receive a commission for promoting someone else’s products or services (may be on your website), this is simply working as an agent for another company. For instance, Hosting Video Ads on YouTube.
With the income from affiliate marketing, you can save enough funds for your business.
Read more on affiliate marketing here https://nneme.com/how-to-make-money-with-affiliate-marketing-in-nigeria/
You can start a business with little or no funds through drop shipping. NO capital or shop needed, all you need is your mobile device.
This is what is involved;
- You pick up and take to your customers or
- Advertise the products
- When someone wants to buy, the person pays to you, you remove your profits and send the selling price to the company.
- Send your customers location, name and phone number to the company and the goods will be delivered to them in your name.
This is one of the easiest and effective method for starting a business with little or no funds.
wondering how to start a business with little or no funds through freelancing? Its simple, just trade your skills for money, save up and start your business.
The good thing about freelancing is that you work at your own pace and you get paid according to the work you do.
Get started !
Partnership and Collaboration
Partnership and collaboration is a growth catalyst, you need to Build and sustain valuable relationships.
Here, you partner with relevant bodies to grow your business.