Sign Up to our social questions and Answers Engine to ask questions, answer people's questions, and connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
When people dream of starting their own business, there are dozens of obstacles that may keep them from actually doing that. They might not have enough motivation, for example, or time to actually see the work through; but the major setback is funds. Capital to push the business through. What are the business that requires no capital to start?
The first thing that I would do is think of a business that I would be passionate about. The passion niche that you determine has to be able to monetize in time so make sure you know there is a market for it. I have to say do your research on others in your area that are doing what you want to do. If it is a restaurant then find another restaurant and talk to the owner. Build a connection with them so they are becoming familiar with you. Asking maybe to even have a job there so you can learn the business while being paid. This is key as you will not be able to flip a switch to start making money. As trust forms continuing the restaurant choice maybe it is only open for lunch and dinner so you work out a deal with the owner where you can start your business out of that business in for breakfast. Obviously the owner will want a cut and you have to discuss this.
Sharing the restaurant with the owner does a few things: first the cost goes way down you are not buy equipment you are using theirs, and you have the location that is working for the owner so you get that benefit as well.
I look at this as a controlled experiment that will not break the bank but does require a lot of trust with the owner. As you get more and more income coming in, then transition into your own location. This can work for almost every business that you can dream of. Businesses need employees to help them grow. You want experience, money, and opportunity to start your own. What better way to start a business then to do it with the help of an established one?
Any business that relies on your personal skill set. What are you good at? What skill or service could you provide to the world and do a damn good job at? That is where you should start because marketing such a skill does not cost too much to start out with. Once you have gained a couple of clients, do not spend all the money earned. Reinvest it in your business to further market yourself and your skillset. Remember that in the U.S. the economy is majorly service based businesses and services generate a majority of the GDP. This means services would probably be the way you’d want to go, even if you didn’t have a lot of capital.