By Zuko Komisa
Start a small business with little to no money.
Starting a company is a daunting task no matter how you look at it. Start-up funding is the most common problem encountered by entrepreneurs.
Starting a business with little to no money might not be the easiest thing to do, but it is possible.
You might have asked yourself, how can I start a small business with? Here are a few things to consider.
What are you willing to give up to get yourself started?
Many people consider getting into business as a mere fantasy and others actually take action and bet on themselves, which one are you? Only invest in what you can afford to lose. If this suggests that you devote a few hours after work, then do so with a simple plan in mind. The key is getting started, just take the first step.
Start with what you have.
Consider your talents, skills and competence. Think of the resources you already have and think of ways to leverage them. Using the abilities that you can leverage and the connections at your disposal is critical.
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Go through your phonebook
People tend to support people they know, and take the people that they know into consideration. What service can you offer them, and how can your connections help you effectively manage your business? How can you increase the number of potential customers?
Always be ready to act on opportunities
A serial entrepreneur is someone who always finds a way to make a profit, no matter what they sell, it’s important to be sensitive to environmental changes. As a small company owner, you need to be versatile and adaptable, you must always pay attention to the needs of people in your environment and meet them while making a profit.
Use your small business to add to your multiple streams of income
Very few people have become millionaires relying on one source of income, that’s why it’s important in the beginning to keep your day job, for stability while you grow your small business.
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Read, Read, Read
Here are a few books to read before starting your business.
- Zero to One: Notes on Startups, or How to Build the Future, By Peter Thiel
- The Unfair Advantage, By Ash Ali & Hassan Kubba
- Small Giants by Bo Burlingham
- The Lean Startup by Eric Ries
