Listen to the article here:
How to Start a Business
So many people have been looking for ways how to start a business but did not get the right place to get the right information that helps create a business.
In this article today, we shall take a look at how to start a business. Whether you are looking for how to start a business online, how to start a cleaning business, or even how to start a business with no money, this article will help you with the right information to get you started with your business.
These steps on how to start a business that I am about to share with you are time-tested steps that have worked over and over again. So if you implement all that I will be showing you today you can start a business.
I suggest that you refer to my earlier article on what it takes to be an entrepreneur so that you will understand everything about being in business.
Let us dive right into it.
How to Start a Business without Money
Starting a business without money is something that is really and 100 percent doable. You can even have an advantage ahead of the Goggle, Apple, and others that started decades ago in the garage.
Starting a business today is pretty much easier than in those days when Google, Apple, and Disney started. It is now very cheap to move from having an idea to a startup, then to building something beautiful and valuable out of the business and reaching your potential customers.
Instead of money in today’s world, your currency is going to simply be the ideas, time, and determination you need to invest in the building process of the business.
I will give you some tips on how to start a business without money.
Tips On How to Start a Business Without Money
- Get a Solution to a Problem: Seek to solve a pressing need with your ideas or skills. Reading this article means that you might already have an idea you want to put out there but you have no idea how to do that without money. All you need is to identify a pressing problem in your area and proffer a solution to it and your business will be up and running without you having to get money to set it up.
- Make Your Idea Public: Making your ideas public means putting your business out there. One of the best ways to put your ideas out there publicly is to take them online. You might think that taking your business online might need money to set up a website but fortunately, there are enough free platforms that allow you to build a website for free. Wix, WordPress, and Blogger are some of them.
- Get a Way to Receive Payment: When you create a minimum viable product to test how your niche market will go and you are satisfied with how your product is welcomed then you need to set up a way to get paid when you fully launch. AN easy way to do that is to create a PayPal account. This means that your customers from all over the world can send in payments anytime, anywhere when they need your products.
Those were some tips on how to start a business with no money. Before we go very deep into seeing how to start a business let us see how to start a business online.
How to Start a Business Online
Whether you are looking to start an online business for free or not we will see how you can easily start an online business and make something good and valuable out of it.
Below are some tips on how to start a small online business and grow it gradually.
- Find a Business that fills a Gap: Getting an online business that fills means solving a pressing online issue just as we said above. When you are starting an online business whether from home or anywhere you need to first find a hungry market for your products first before creating the product. Don’t make the mistake of creating the products first and looking for a market.
- Learn Copy Writing: Copywriting is a skill that almost everyone going into online business should learn first so they can be able to write copies that sell. A copy that sells should Arouse interest with a compelling headline, Describe the problem your product solves, Establish your credibility as a solver of this problem, Add testimonials from people who have used your product, and Talk about the product and how it benefits the user, Make an offer, Make a strong guarantee, Create urgency, Ask for the sale.
- For this step, I will refer you back to point 2 above to read again.
How to Start a Business in 3 Steps
1. Find a Business Idea
The first thing to do when starting a business is to know what you want to be.
You can depend on time-tested strategies like the one we will be seeing in this article to find small business ideas that have really worked for business people like you.
Performing market analysis will help you understand the kind of business you are about to venture into and know the demands in that business and whether it is an overcrowded space.
2. Prepare a Business Plan
As the owner of the business, preparing a business plan can help you stay on track when you finally start the business and execute according to the plan.
Studies have shown that majority of businesses that started without a business plan failed. This means that when you start with a business plan you stand a higher chance of success than people who don’t have a business plan at all.
To learn how to properly prepare a business plan document check out our article on how to write a business plan.
Have a Business Name
When you are just starting, your business is very important, especially when marketing your business. The business shows up everywhere you do your marketing and that will help in building a brand.
When finding a name for your business, find a name that is simple and tells what you do. Find something that is easy to remember and short enough as well. Finding a business can be hard, but this is doable and don’t feel lazy.
Carry out a market Research
Carrying market research is one of the best ways how to start a business. The reason you should carry out market research is to understand your target market and your potential competition so that you can come up with ways to penetrate the market.
While carrying out the market research seek to answer the following questions: What is the size of the potential opportunity, who is your competition, and who are your target audiences?
3. Take a look at your Finances
Starting a business of any kind requires you to have money, so you need to know how you are going to take care of the costs. Do you have what it takes to fund your startup business or do you need to borrow money? IF you need to borrow money then take at our article, 10 Types of Small Business Loans you Must Know and How to secure a business Loan so that you will what small business loan you need to take for your business startup.
If you are thinking of leaving your job to focus on your business then you might have to save some money aside to support yourself until when you make a profit. It might be or not be the best decision to make now until you read our article, What it Takes to Be an Entrepreneur, then you will make the best decision on leaving your job totally or running both until you make a profit to sustain you then you leave your job to focus on your business.
A larger portion of startups fail because they run out of money before turning a profit. It is never a bad idea to overestimate what you need to start a business as it may take sometime before the profits start coming in to sustain yourself and the successful operation of your business.