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Learn the Way you can Start A Business Without Money – 4 Legit Proven Way

To start a business without money is achievable and you can do it.

Money isn’t the only requirements needed to start a business, Most Famous Successful Entrepreneurs will hear of nowadays start a business without money and they’ve grow bigger.

First of all let make you understand what are the requirements in starting a Business Without money 

  1. A business Idea
  2. A business Plan
  3. Target Market 
  4. Business Team
  5. Investors

If you could meet all this requirements the Business is already set up. Thou it not all business that can be set up without money, there are some that requires little funding from you.

In this content we shall be explicating on ways to start a business without money , endeavor to read this content to the last sentence, We are likely to be listing examples of those business that you can start without money in some some of the ways we are going to be walking you through on how to start a business without money.

4 Legit Proven Ways to start A business without Money 

Start A Business without money

Ways we are going to be explaining below are legit proven ways for you to start a business without money, or better alternative ways that business ideas can be finance, because the fact that every business need funding is true is either it funded through you or other ways. 

1.Turn Skills to Business

start  a business without money

This is one of the very quick ways you can start a business without money by turning your Skills to business.

 There are thousands businesses and successful entrepreneurs who started their journey from their passion & Skills, examples are Mark Zuckerberg who’s skills was Programming and he start up from developing Facebook now know as METAVERSE, then extending in owning Whatsapp & Instagram.

 Sometimes People tend to see their Skills as side business, Forgetting that skills in you already people pay for, which make  it not to be a side business anymore, 

business doesn’t only involved selling a products ,offering Services and getting paid is also a business. 

So whenever people pay for your skills, definitely you are providing a service.

 At that stage people pay for your skills it no more a side business, that the very time to turn it to a business and before you know it you’ve already start a business without money. 

The guide you need  now is how to turn your skills to business, According to Linkedin.com Post 

The 4 Steps are:

  • Identify a pay-worthy skill set.
  • Test the idea out for real feedback.
  • Turn it into a workable, proven system
  • Incrementally scale it up, learning along the way.

You can check up the article 4 Steps to Turn Your Skills into a Business by John Waters. 

It likely you start in a small scale and as you grow it will definitely turn bigger 

For examples “ Your skills may be a hair stylist going to houses to make a hair do, after a little while you decided to get a shop and employ more stylist to attend to every customers at same time, you can also extend to own a hair manufacturing company and others things related to hair. 

 And whereas If your own skills be “Content Writing “ it likely you start by writing for blogs and as you grow you can decide to own a corporate website employ competent writer to do the job, you will only be working in collecting keywords from clients and appoint a writer to work on it. Those are just few examples.

Non respective of the skills you have once’s people can pay for it , then it can be turn to business, this is quick easier way to start a business without money.

2. Attract Investors

start a business  without  money

This are another way to start a business without money but with investors money, who are investors? “ They are people who allocate Capital for a business with expectations for future financial Gain” the two focus word you should keep in mind about investors is that “ Allocate Capital “ and “Want to Gain “  they are no afraid in putting their money into your business idea but they we research if that business idea have a market lead and value , the decision of investors ready to Fund your start business idea, is determined by your business plan. So what do investors look for in your business before they invest 

According to G – Squared  Partners Post , Investors look for this 10 things 

  • A market they Know & Understand 
  • Teams Leadership Teams
  • Investment Diversity 
  • Scalability
  • Promising Financial Projections 
  • Demonstration Of Consumer Interest
  • Clean, Detailed Market Plan
  • Transparency 
  • Realistic and Reasonable StartUp Plan
  • Long term vision and Plan

There is also a difference between an investor’s and a co-founder read up on that to know the difference, investors are not interested in. Occupying any position in the business but only interested to invest their money into your business to grow and meet their gain expectations.

Check out this article on how to find investors 

3. Collect A Loan

start a business without money

Collecting a loan is one of the proven legit way you can start a business without money “ without personal money or saving but by a sum of money you borrowed from banks or other financial institutions in order to start a business because to run a business more successfully requires money. 

There are certain requirements that have to be presented before your loan application can be accepted, Mostly a collateral  will be required for such loan be accepted.

Thou it likely you get scared by some negativity thought & questions like “ What if the business fails that you won’t be able to pay off the loan back within the given period of time?”

After your application is accepted Where we need to focus on now is on the business plan that the loan accepted will be implemented on.

Once’s your Business Plan contains all the necessary plan it requires to be included, then you don’t have to worry thinking about the loan repayment terms. 

Since this is likely to be the first business loan you’re collecting, I will recommend you read this Article “ How to Use your first Business Loan Effectively

4. Crowdfunding 

start a business without money

 This way is the least that you can use to start a business without money but by generating small amount of capital donated by a large number of individuals & Corporate bodies to assist in financing a passionate entrepreneur to start off the business.

  I use the word “Generating” because it a gradual process for the capital to add up.

 Advantage of using crowdfunding funds to start a business is that you don’t need to pay back any amount that was generated unlike Loan that have to be repay back with interest at a fixed repayment time, Crowdfunding it a donations.

It Important you know how crowdfunding works for business, Read through this Article “ The Basics Of Crowdfunding For Your Business

By now the next question likely to bothering you is How to have access to Crowdfunding? Don’t bother much, I have a package article to guide through.

Forbes listed out “ Top 10 Crowdfunding Sites for Fundraising “ namely 

  • Kickstarter 
  • Indiegogo
  • Crowdfunder
  • RocketHub
  • Crowdrise
  • Somolend
  •  Appbucker
  • Angellist
  • Invested.In
  • Quirky

Conclusion

Now you don’t have anything to hinder you to start a business without money 

Out of the four ways we’ve listed “ Turn skills to Business and Crowdfunding happen to be the best option if you want to start the business at small scale level which requires little capital,

 But if your business require large sum of capital to start up, Accepting Investors and Collect a loan is the best option you can choose. 

We wish you good luck as you are making up your mind to follow any of those ways we’ve listed to start your business, 

What other ways also do you think people can start a business without money ?

 Drop your thought or suggestions in our comment blog below.

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