How to start a business with no money

In this video I am going to explain that the lack of money should not be a deterrent in starting your business. I will dive into the types of businesses you can start with little or no money and end off by highlighting the mistakes you should avoid.
I must agree that is harder to start a business with little or no money, but it is not impossible. The key ingredient to ensure success is your passion. The irony is if you have the passion and a good business idea, then lack of money becomes less of an obstacle.
If you have no money is generally easier to start a service orientated business such a cleaning company as opposed to a product base business such as selling paint; as this requires upfront money to develop or purchase the products. A better strategy will be to rather first start the cleaning company and then gradually develop a cleaning product range as your cash-flow allows.
I have therefore grouped the service orientated business into six categories which are based on your skills level and experience.
I would say the first broad category is for people who do not have a specific skill or qualification. If you fall into this category you should consider something which is more general such as house sitting, odd jobs, dog walking, freelance bar-tending or even events management.
The second category is for people who are fortunate enough to have specific skill sets or qualification; then your skill set should direct you into the type of business which best matches your experience. This can include ventures like dance instructing, public speaking, Uber drivers, tour guides, physical trainers and the list goes on..
The next category is for the creative artist. Musicians, comedians, motivational speakers all have the potential to create performance-based businesses. Depending on how creative you are coupled with an ability to market yourself will determine the success of this business.
The fourth category are brokers. What I mean by this is any kind of business which brings together a buyer and a seller. For example this could be Estate agents, recruitment agents and sports agents. If you have a flair for marketing and selling and you are good at networking, then this is for you. It does help if you have access to a network of people in a particular industry. The benefit of this type of business is it requires very little money to start.
The fifth category is Education. I like this category because you can get huge fulfilment out empowering people. There is such a need for additional skills in our country and the opportunities for extra training and tuition are endless. How about a former teacher setting up a business that provides extra lessons to school-going children, or a sports fanatic setting up a coaching business. Again, little to no money is required start an educational business venture.
The final category is IT. This is such a dynamic environment as it is constantly changing, and this continues to generate new opportunities. If you are fortunate enough to have the skills, the hardware and the love for the industry, then the opportunities are boundless.
The benefits of running your own business are enormous, however there are two issues that you should be aware of when starting a business on your own. The first concern is that you are the business and the business is you. Initially this is fine, but it may become difficult to grow the business with only one person. You may require more manpower to service the demand that you have created. It could also be tricky to sell the business if the business is wholly dependent on your input.
It would therefore be wise to focus on setting up systems to train people to replicate what you do, which will allow the business to scale up and secondly wherever possible put systems and people in place so that the business can operate without you. This is how you grow from being a one person business to a large organisation.
List of Business that you can start with little or no money
1. Pet Sitting
2. Dance Teacher
3. House Cleaning
4. Aquarium Cleaning
5. Public Speaking
6. Online Consignment Sales
7. Used Books
8. House Painting
9. Window cleaning
10. Uber Driver
11. Tutoring
12. Tour Guide Services
13. Flooring Business
14. Cleaning Business
15. Flea Market Vending
16. Homemade Soap
17. Dog Training
18. Freelance Bartending
19. Scrap Metal Recycling
20. Logo Design
21. Consulting
22. Social Media Management
23. Freelancer Writer
24. Personal Trainer
25. Yoga Instructor
26. Translator
27. Interior Designer
28. Proof Reader
29. Voice Artist
30. Photographer
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