How To Start A Business With No Money
A question in the Daily Business Hustle Open community on Facebook arose regarding how to start a business with $500, $20,000, or even no money at all. In terms of business models, there is almost everything already out there to invest no money, or all of your money, into. In my opinion, and seeing what works for my Mastermind members, I have noticed that it is much better to focus on learning skills. Offering valuable skills, products and services to companies is a better way of looking at business rather than investing your money.
What You Should Invest In
For about $500 you can start a business that involves drop-shipping or something else simple and easy. This is great and can work, but if you focus on developing marketable skills that companies are willing to pay for, you can develop something that can last for years.
It does not matter how much money you invest, but what does matter is what you do with your time. It matters how much effort you put into something and if you are learning and implementing stuff that will increase value. The best investment to increase in value will always be the investment in yourself. This is because when you grow your skills, you will become more in demand automatically.
What to Do Once You Have Started Developing Your Skills
First, offer your skills as a freelancer to companies. Start off with about 10-20 companies and offer your services on a per-hour basis. From here you can take leads from freelancing websites and as soon as you get those leads on the phone you will be able to pitch whatever services you wish to them – as long as the company needs it. Freelancing websites can be used as a lead generation tool. We have had people who turned their freelancing skills into businesses within weeks.
Developing your skills is better than offering stuff on eBay, Amazon or even investing in real estate. This is because you can build your name, brand, client lists, and an actual company where you can eventually replace yourself and hire people to do your tasks.
Some people say you should invest in property, gold, or things of the nature. I do not disagree that investing is also good, but I like this side of business more. Providing a product or service allows you to grow while not needing to borrow money, take on risk, or seek investors. Growing your own business is more scalable because you can leverage your own skills and that can make your own business much more profitable and less risky than things like real estate.