How To Start Your Own Business

First, I am going to focus on starting your business from scratch, and in the end, I will tell you about how you can start a business without any money.

01. Start with an idea

This is pretty straightforward. You need to come up with some kind of idea for your business. Play with your idea, google it, see if someone already came up with it, is their business successful, is the market saturated?

How are you going to beat your competition?

At this stage when you're brainstorming your idea you should keep two things in mind. If you want your business to be successful you either have to be better than the rest or to be different.

For example, maybe you want to start a business selling cookies. Being better means that you're prices are lower or the cookies taste better.

Being different on the other hand means that you are unique, maybe your competition has defined look and size for the cookies, but your company allows your customers to design their own cookies on your website and buy them afterward. This is being different.

Keep this in mind when you are comparing yourself with your competition.

Also, a very important question to ask is, how much value do you bring your customers?

Do you bring more value than your competition?

If not, how can you increase it?

The more value your product or service offers, the easier it will be further down the road.

So you've analyzed your idea and the market, and you've calculated it should work just fine. Great, begin the second phase.

02. Build your idea into reality

This is where most people get stuck, they just come up with ideas and never act upon them.

Having an idea is great but it means nothing if you never make it a reality.

I can't stress how important it is to get started. It's far better to try it and fail than to not try at all. Believe that you'll figure it out as you go.

When you get to work on your idea, you will face obstacles that you never thought even exist, and you will be forced to come up with new solutions to overcome those obstacles, as a result, your idea will change and mold itself into something very different than it was when you first started.

Many people get discouraged because they think their idea is not good enough and it will fail but as Thomas Edison said,

"It's not failing Its just finding out different ways that don't work."

03. Test your idea

This is very very important. Test your idea, get feedback, adapt and change, then repeat the process. This is one of the mistakes a lot of people make. They build their business without testing and they think since they've spent too much time on their business people must like it.

So don't do this mistake with your business. Build something as fast as possible, show it to people get their feedback, adapt and change, then repeat the process.

The main thing about building a business is really to get started, persist, and have the right mindset. If one thing doesn't work don't give up and quit, change it and eventually, you will find something that does work.

But how do you start a business without any money?

Let's say you have no money in your pocket or maybe just as little as 100 bucks, and you want to build a business.

Can you do it?

Yes.

Will it be easy?

No.

Building a business is hard, and building a business without any money can be even harder, and not every business can be started without money First.

01. Build your business around your skills and knowledge

For example, if you are good at marketing, you can start, let's say a dropshipping business, and if you're good at cooking, start a cookie business.

But when you don't have the money you must trade your time.

02. Build your business as an online business

In today's world, we have a big advantage as we can reach millions of people online virtually free. You can start an Instagram account, or a YouTube channel Then you can use your skills to give your audience value and reason to follow and watch you.

After that, you can monetize your audience and continue to grow your business. I've seen so many clever ideas that are successful on YouTube.

One dude was great at physics so he started making simple videos about physics, people loved it and donated money for every video he made, another example is a dude that started One guy was trying to learn new things as fast as possible, like juggling, riding a unicycle - and recorded it on camera.

People loved to see how he struggles and eventually reaches his goal and also supported his videos.

03. Obviously, not every business can be started without money

If that's the case with your idea, you can try to secure an investment. You can search your local business accelerators or find investors online, but you will have to have a solid business idea and a business plan that you can pitch to your potential investors. You can also try crowdfunding.

There was an idea with a cube that had different buttons and wheels that people can use to keep themselves entertained. It reached around 150 thousand supporters and more than 6 million dollars in funding.

It shows you that it really is possible to start a business without money, and the only thing that's holding you back is your creativity and willingness to start. I hope you got encouraged to start your own business.

Many people think that their idea is not that clever and never get started in the first place. But everything you see around you is made up of people who are no smarter than you are, so if they can do it the only thing that's stopping you is your mindset and lack of action.