“How I Started My Business With Zero Capital”
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- čas přidán 31. 05. 2023
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Started my business with $500 ten years ago. Just hard work and never quitting. I never got any loans. Now I’m a millionaire and have $600k of liquid cash.
Can you us more about it?
not getting a loan is were you lost it. You need to learn how to utilizize other peoples money to expand the business. You grew it slow when you could have made a lot more money and went further. 600k liquid cash is nothing compares to companies that took financing
That's awesome!
@jimbobjim2310 I'm doing about the same, starting a small business now with a couple small coffee roasters and a drive to succeed and grow! I don't want to ever send banks or investors the hard-earned profits I make.
@@brokecooking8277 clueless
I'm 3 years in and started with 0 dollars and a laptop i bought with cash, I was out doing the work myself and also figuring out how to market for free using free trials, etc. once I started to earn some, i saved some, reinvested some in business and continued to pay only cash. i'm finally starting to see results...been a hard road.
If you need a good laugh imagine Dave on shark tank trying to convince an investor to help him start on the level he's at now. We love you Dave, you're an inspiration to my family as we work our way out of debt. Thank you for all you've done
Started building fences with old tools from the pawn shop and a mini van. Now I get whatever tools I want lol
Papa Dave's wisdom! For the day!
Spot on Dave!
Loving this.
Great advice!
Greed will cause you to borrow like crazy to "grow" a business.
It really depends, some businesses can not be started from a card table in your living room. For example we started a medical aesthetic practice in 2020. The minimal startup costs we could get it viable for was $80k. Small office and essential medical equipment only. We had 1yr of living expenses in savings to cover getting started and feeding the family. We grew at the speed of cash and now have an annual revenue around $1.6m with an income around $500k and opened another practice a month ago. We are richly blessed and highly favored with growth of 25-50% year over year so far. Some people start so small they struggle to gain traction others start too big and quickly die. It’s a balance.
Easier to do in some industries than others.. you were selling a service, expertise (books) and a radio programme. Sometimes leveraged growth capital is required to outrun burn rate especially. Outside investment is inbuilt into that, or external assets. Ramsey Solutions has more asset worth to revenue ratio than most SMEs thanks to the buildings it owns. But I don’t think it will ever revenue much above $550m or so, that’s it theoretical topline I think. I don’t see how it scales above that organically. And Dave will never ever go public, so IPO is off the table.
I’d rather grow my business at the speed of cash.
I will forever be indebted to you you've changed my whole life continue to preach about your name for the world to hear you've saved me from a huge financial debt with just little investment, thanks so much Mrs. Debra Hindman
You can communicate with her on TELEGRAMS with the user below
INVESTWITHHINDMAN💯
I have traded with many individuals but I have never met anyone as good as Mrs. Debra Hindman, just by applying her strategies I now trade independently. she is the best i would advise any investment newbie to trade with her
Amazing I also just started trading with her, she is the best at what she does with an initial investment of $1400 I made up to $5230 in just a week of trading with her, his strategies are mind-blowing.
Anyone know any good places to find info about marketing your business?
I want to start a fish breeding business I have two stores that will buy the babies from me but I don't know how to move from there
What’s your email? I have a marketing agency, we do all the marketing services instead of you going through the long process of hiring employees and researching yourself.
Why does Dave have 1100 employees? I am not being negative, just I can't visualize it,
Mostly marketing, Info Tech, media, and sales force. Also, some maintenance crews for their nice newer Corp headquarters. Then add in a mix of HR, accountants, and payroll. It's not hard to get to 1,100 employees where your top line revenue is $300 million+. The personalities you see/hear are just the handful that are the secret sauce.
On that note: I like seeing how Dave in bringing in more personalities, but I really do wonder how well it's going to go when "Papa Dave" hangs up his hat in retirement? He's sort of the secret behind the secret sauce. All the other folks (Rachel, George, etc) are fine people, but there's nothing particularly unique about them. They're just the people who are taking over for Dave and teaching what he teaches. They haven't really produced anything amazingly new and out of the ordinary that you can't find on dozens of other "win with finances" podcasts. What makes Dave unique is the combination of his business savvy/hillbilly personality alongside his rock solid position that Debt is Dumb and Cash is King.... and everything that flows out of that including the Baby Steps and chopping up credit cards. That's 95% of what Ramsey Solutions is all about. The personalities who have their own shows have only a fraction of his viewership, and how many of those are only there because they bask in the glow of the Ramsey brand?
We'll see. I hope it goes well. I found Dave in 2008 and owe him a debt of gratitude.
Bull.. Funny thing he always down people, sounds to me he’s projecting.
hes is so wrong its funny. Yes when you start out business you dont take a loan but when you are a few years in you need loans to expand. Unless you are only doing like 30k per month you are still making no money so dont get a loan
Usual generic advice.
Because it's true
Aka just be smart.