How possible is it to start a business without money, let’s discuss
The answer to ur question is YES.it is possible to start business with no capital.
So long as u have a business IDEA, then u can use ur idea as ur capital to start business.
It depends on the type of business and what you mean by start. To some people validating and researching a business idea is starting a business. In other cases, some businesses needs a product, which would cost money or tlrnt first. If u got the talent, u might not need cash to make it or build a prototype or an MVP… u can use what u already have around u. E g phone, laptops or the hip of sand at ur backyard. But to me validating ur business idea does not mean starting a business until u start to build a product. Thanks #iMOM
ideas are free but a business needs capital. *note capital does not only mean money but include all variable involved in the business.
It’s not possible to start a business without capital. This is because before starting a business, one needs to procure issues like initial stock of raw materials, maybe machines, maybe rents etc. One of these and many will be needed at startup, reason for the absolute need of capital. Whether it comes as a grant, loan, or self acquired from personal savings or from relatives etc. in small or huge amounts. Even if the person had all these before the business idea popped-up, once it’s invested or used at the start of the business, it’s still considered as capital
So in conclusion, ONE CANNOT START A BUSINESS WITHOUT CAPITAL.
Starting a business without capital is variably depending on the type of business you do or want to start.
If you are starting up a business that requires you to render a service, YOU DONT NEED A CAPITAL.
if you are starting up a business that requires sales, production, manufacturing, technology and farming etc, . YOU NEED A START UP CAPITAL.
Using my business as a case study, we are into the service of educating children and teenager on the danger of drug and harmful substance abuse. I started myself without a coin, now we pay staffs and have employed full time and part time teams worker.
Note: I was able to start without cash, because I was rendering a service that does not require materials in any format from the start.
So it is very possible to start a business without capital if you are rendering a service. And the best time to start is to start now, Just think outside the box.
YES get to some one in the business for example pure water(sachetwater) or books, convince the person to trust you and receive the products, go round(you may not need fare in some cases to go round) and sell, return the person’s money and keep the agreed profit/commission. Save what you are making. With time you can save enough to start your own business. Another way is to become an online agent for online shops, place orders for people using your smart phone and get paid. These are few ways to start with out money.
It is possible. How? With Marketable Idea, Integrity and good networking, you can start business. I had an idea of supplying maize to feed mills around Ibadan in Nigeria (I reside in Ibadan) and I did not have up to #10,000 in my bank account, I contacted a friend in one of the feed mills I intended to supply and he made me realized that the minimum the company can take is 5 tons (preferably, yellow maize). So, I decided to travel to Oke-Ogun area of Oyo state (where I grew Up), I consulted a popular farmer who at least knows my family, I offered him price a little bit higher than the current price in that community ( and based on the current price of feed millers in Ibadan) and I enters an agreement with him that his money will be paid after seven working days ( My potential buyer then, issues check to suppliers only on Wednesdays), I also contacted an area brother who helps with truck to carry almost 6 and half tons of maize with agreement to pay as soon as I received check. I did everything and after all deductions, I made 70,000 Naira as profit. within two months, I was referred to other two farmers by the first farmer based on the price I offered and fulfillment of my payment promised. I have been doing this for three years now but I make sure that I don’t use farmers money for another things, I make transfer to them as soon as I get paid (maintaining my integrity). (Marketable Idea, Integrity and good networking can make you an entrepreneur even without start-up capital). speaking from experience.
It depends on the type of business. Some businesses require capital to start while some require skills with little or no capital at all.
I think it is possible in one way or the other. It’s possible to start a business without money depending on the type of business one is going to do. For example, if it is a fast moving consumer goods business, I think one can do what I read from an article called bootstrapping. You may want to find your customers first by pitching your products or service idea to them to gain their interest. Ones you get a few number of potential customers signing in to your idea, you can them go and take your stock from your suppliers with a prove of market, and then supply with zero Ghana Cedis. I hope this helps in a way.
Good question, can a person see without eyes? Impossible! So it is, a business will start when their is capital.
Can u go to farm without a hoe?
It is definitely possible
It is possible to start a business without a capital, all you need is an idea to start with and a plan that will help you achieve the capital aspect and other things of the business.
For me i think the challenge is with the perspective that capital is limited to just cash,
the human resourcefulness is a capital is see as prime even before cash capital shows up.
You need ‘capital’, but you definitely do not need money to start a business. Picture growing a business as farming. What do you need to start a big farm? The soil, the seed and chemicals for treatment. All you need do at day 1 is form assumptions… You will assume that the soil is good and it will support your seed. You will assume that the time is right too to plant the seed. In business terms, the soil here represents the ‘Market’. You need to define the market you want to plant your seed. The seed is the ‘idea’. You are not going to plant Money, what you will plant is the idea- which is your value proposition…and it has to fit the market otherwise, it won’t grow. Your assumptions regarding the soil and the seed and wether or not they fit each other at this time is what we call HYPOTHESIS…an untested business assumptions. It is also called an unverified business model. Once this is done, the next is test those hypothesis using whatever resources you can lay your hand on. Any resources that can help in the test of your hypothesis is called CAPITAL. It may not necessary be money. Once you do that, be aware that you have already started. And from then on, you are a START UP. A start up IS NOT A COMPANY, a start up is a TEMPORARY organization created in search of a feasible, scalable and repeatable business model.
As an enterpreneur, your success is greatly dependent on the ACCURACY of your definitions. The real problem comes when you mistake product and service for VALUE.
There are more things to learn pals.
Wish you a memorable TEF EXPERIENCE.
Lesson learnt week 9
Every great business start with a dream,good goals and thorough plans bring success,to any business dream.
Precise and specific goals are easily actualize; goals setting is the bedrock and bridge between intention and execution.
A Business dreams will remain a dream,unless it’s accompanied by a precision in execution and vigour in execution. Business dreams should be follow by precise actions,precise planning,in other word precise and specific goals are easily achieve.
Goal setting and planning should be pursued by rigorous execution.
Building a performance culture,is key in the overall success of business dreams.
Lesson learnt week 10.
Following through is a vibrant prerequisite in achieving a business dreams,inclusive of a touch of professionalism.
Essentially entrepreneur should a reasonable level of momentum and commitment,in driving home acrion plans.
Follow up and follow through can be achieved in a business setup,when both momentum and commitment play a viral role.
Contacts and networking is consolidated,through effective follow up and follow through practice.
Business,goals,plans,strategies,may be excellent but lack of effective follow up and follow through practice,will resulted to failure of goals,plan and strategies.
Food for thought so profund,build database of contacts that we can mine.
It is possible to start a business without capital. It is very important to note that everything is not about money. You might not have capital to start a business but a good business idea can bring capital though an investor. Moreso, your idea can be your capital.