How to kick start your dream business on a tight budget.

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Is starting a business entirely limited to CAPITAL?  Am sure you have heard of the saying it doesn’t always take money to make money. One of the greatest authors Robert  Kiyosaki  writer Rich dad poor  dad states

it takes a dream, determination , the ability to use Gods given resources & the willingness to grow “

This article is purposefully written to encourage a shift in mind set especially for those of us sleeping on great ideas, talents and innovations in the excuse of lack of start-up capital.

Need I say starting a business venture takes more than money?  Sometimes it takes a skill, an innovative mind, a need in the society, a lot of creativity or just talent. I would however be lying if I told you that money is not a necessary ingredient in a business start-up.  Its however good to note it’s just one of them and most of the times not the main ingredient especially for fresh start-ups. 

DEVELOP YOUR BUSINESS IDEA

Coming up with a business idea only marks the beginning of your journey to entrepreneurship.

 Starting a business venture is a process that requires a substantial amount of thought, skills, knowledge and careful examination.

Working on your business idea is one of them, and it’s very critical to the success of your new venture. Once certain of your idea put together a business plan to outline in detail the objectives of your business and how you are planning to achieve them.

START WITH WHAT YOU HAVE

Fortunately we all have something could be a skill, past experience, knowledge, an asset or even an idea.  This ensures you have a place to start. Take your time and outline your current strengths and how they can be of help in setting up your dream venture.

KEEP YOUR DAY JOB

It may come as a surprise but most of this business ventures actually started as a side hustle for a lot of entrepreneurs.  During the initial stages of your business you may be able to still work you day job as you make use of all your free time to set up your new business. This will ensure cash flow, ensuring you are bills paid and luckily able to raise a tangible amount of the initial capital to kick start your venture.

MAKE USE OF ALL THE FREE AVENUES

The fact that platforms like social media have come to our rescue as business people cannot go unnoticed. It’s a free avenue to create an online business presence as well as market our goods and services.  Taking full advantage of the online shops and online business resources offered will play a big role kick starting your business.

BUILD YOUR NETWORKS

Increasing the scope of the people you know who can help set up your business is highly important.  This can simply be achieved by following similar businesses on social media & ensuring you engage them and learn from them.  Approaching successful business personnel for mentorship and attending events and trade shows in your line of work.  Networking is a continuous process and one of the key ingredients in running a successful business. As the saying goes your network is your net worth.

GET FREE OR CHEAP LABOUR FROM RESOURCEFUL FRIENDS & FAMILY Unfortunately at this stage we might not be able to pay any employees considering the less or no resources especially considering the business is yet to make any money.  We can however maximize on willing family and friends to assist with our business set up needs. Considering we are close to them that makes us aware of their skills, strengths & abilities. This will ensure you get the support that you need without having to part with so much of your limited resources. 

TRADE YOUR TIME FOR MONEY

This might be more applicable for service providers and individuals with businesses based on talents and skills. They are able to trade their time and skills in exchange of some cash as they continue to set up their main venture.

START SMALL

My take is that you should always dream big but start small.  This will not only ensure less pressure to get your return on investment but will also support your need to take less and calculated risk. It also ensures you buy some time to learn your way around your new area of work without much pressure to deliver.   Give your business time to grow and invest on it as time goes by and your business will eventually grow to everything you imagined it to be.

The secret to getting ahead is getting started. It’s actually the hardest part. Once you begin it might take a while for it to grow, a moment of patience and some days of struggle but as the bible states where there is labour there is a blessing. I hope you however feel inspired by this article to start small, start with what you have, and do what you can. All the best and God bless. 

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