July 29, 2016 Leave a comment
Starting a business can be difficult and, above all, expensive. For people who want to be entrepreneurs but lack startup capital, getting a business going can be daunting. But there are a lot of tricks that allow you to get a business underway without needing a significant next egg. Starting a business, whether you have capital or not, begins at the same place: finding something you can offer.
The easiest place to start is to think of a problem that you can help address. Whether that’s a serious issue like testing water for contaminants or a “first world problem” like finding somebody to walk your dog at the last minute, there are a myriad of issues out there that people need help with–and they’re willing to pay other people for that help. Once you know what problem you’re trying to address or what product you want to create, take a step back and think about ways that you can approach that problem using the skills and resources you have at hand.
Maybe you can start by walking dogs, using a website and flyers to generate business before you try to develop a mobile phone app. Maybe you’re a great editor who can freelance while you figure out how to turn that into a business. The key here is to use the tools you already have in order to get your business ideas rolling. As you work in whatever field you’ve chosen, you’ll be able to find out what niches there are within that field that you can try to fill with a subsequent business model or product.
It also gives you more experience in the field in question, which will be more impressive to potential investors. Whether you seek out crowdfunding or more traditional investments, people are going to want to know that you have a good idea of what you’re doing before they give you their money.