A lot of people ask me this question because they think that the only way to do business is to have a great deal of money backing them. I understand that you need some money but surely it is time to start thinking of new ways to grow your business if you do not have access to finance.
Some of my people are based in countries where they live well below what people in developed countries would consider the poverty line and they feel trapped because they cannot get access to credit cards, loans, debts and so on which are usually the first ports of call for people who want big businesses in developed countries. However, I am convinced that no matter where you are, you can start something with whatever you have.
And when you hae very little, that is exactly what you start with.
Here are a few principles to consider
1. When you have no money, you invest time.
There is a weird connection between time and money. There is the obvious one that your time is valuable and irreplaceable but more than that, if you do not have the cash to invest in your business then you must expect to use a whole lot of your time to get results. Where others can afford to pay for advertising, you are going to have to use your time and energy to get the same results.
You are going to have to get pretty savvy, creative and VERY VERY busy producing results and getting your business in front of as many people as possible.
2. Get into the habit of re-investing
I remember having conversations with people in developing countries about their businesses and one of the things that came up time and time again is the fact that they are spending any money generated by the business because they feel they must in order to keep their families going.
And this happens even in developed countries. You find entrepreneurs spending the babies of the business (funds) instead of re-investing and so every single time, they are having to come up with new capital instead of re-using the initial funds.
Do not do that. Invest for at least three generations of the money and stay in your job until you are consistently generating a bit of an income from your business.
3. Dream Big, Start Small
I know you have huge ideas of all you want to do but let’s look at where you are at right now. What skills, experiences, abilities and more do you have that you can use for free? Use them all to their best potential.
You may have people who are willing to volunteer and help you because they buy into your vision. Take advantage to a point but please make sure you do not do it indefinitely.
Ultimately, you have to be willing to recognize that your business may take a little longer to get to your big, huge dreams but no time at all to start making a profit if you start focusing on the things you do have available.
4. Tell People
YOu may think you need a budget to get the attention of people but sometimes, with a little creativity you can get a lot of free publicity. You can create a whole lot of blog posts giving people information regarding your industry. As Already mentioned, you can invest a lot of your time to create videos on your phone which most people all over the world have, you can record audios as well. All of these can get you in front of a lot of people who are looking for the information you provide and because they are reading your content, they start to see you as an expert and so they are more likely to buy from you rather than other people.
Have fun with it and find out what people want to know and TELL THEM in as many different ways as you can. Stop waiting for finance, Use what is in your hand to create what is in your heart.
And if you want more free ideas to grow your business then get the business growth pack by downloading it here at RosemaryNonnyKnight.com/toolkit