How to overcome the "I want to start but I have no money"?
This is an extremely sensitive topic among all entrepreneurs and freelancers. A short time ago I did a survey to find out the biggest obstacles and needs that my followers and clients had when they wanted to become independent professionals and start their own business. I was terribly surprised by the number of people who have mentioned that their problem is money. Is it the terrible world crises that plague most countries? Is it the consequence of market saturation? I will be honest with you, of course I have not started to analyze case by case so I hope you understand that I am sure that some people are really unable to do it, but if this is your case, if you have been convinced by that belief that you don't start because you don't have money,I want to give you good news: there is a high probability that what you believe is just what is limiting you, and not the money you lack.
Do you really have the dream of being an entrepreneur and being an independent professional? If so, these keys will help you detect if money is still a problem for you, or if you have simply become hooked on this belief.
First, do you know how much money you need to do it ?: It is very common that you think it takes a lot of money. How much is that "pile of money"? If you don't know exactly what you want to do and exactly how much it is going to cost you… how do you know you don't have the money to do it? Or how will you manage to collect the money if you don't know what number you should reach? So the first thing you should do is understand how much money you have to start. If you have a business selling material goods, I understand that you have to think about some expenses and investments in assets, storage, distribution and others. But if you are in the business of professional services, in most cases the most important thing is what you can contribute yourself: your knowledge, your experience, your talent and strength. And that generally does not cost you anything.Of course you have to think about having income to pay the equivalent of a salary to maintain your standard of living, your personal expenses, but it is not the same as having to pay additional rent for an office, the salary of other collaborators, machinery, etc.
Get financially organized: if I ask you how much you want to earn from your business, maybe you can tell me a number you've been thinking about (and it doesn't always happen… so ask yourself!). But if I ask you how much is the minimum you must earn in order to sustain your business and pay your expenses, it may be that you are not so clear about that information. And it is essential. If you are just starting out and you are offering your professional services, the number you have to keep in mind is your personal / family expenses. Maybe it's time to adjust your home budget a little and reduce unnecessary or postponed expenses in order to finally achieve the dream of starting your own business. This depends on you, and the value you give to one or the other option.
Do economy of scale: this is essential. I had a colleague who wanted to open her accounting firm to work with entrepreneurs and small businesses. She made their balance sheet and their tax returns, took care of the tax and billing. And she started working from home. 90% of her job required her to have a good internet connection and to be able to present documents and keep records (which she could easily do on her home computer). For the rest, she went to her client's office, or invited her to have coffee at a bar. When he secured a steady and sufficient income each month, it was only there that he rented a specific apartment to set up his office and bought better computer equipment.And your next step would be to open a commercial office with all the furniture and equipment that implies. If you are thinking about how a prestigious client will see you if you attend him in a bar, I remind you that if you do not have a business because you do not have to pay the office rent or if you mismanage your business, you will not work with him either… Start small and then, as you acquire income, you improve your situation and target other types of clients that require you to have a better-planted office (if that's what you want).You improve your situation and target other types of clients that require you to have a better-planted office (if that's what you want).You improve your situation and target other types of clients that require you to have a better-planted office (if that's what you want).
Specialize: This not only works when you don't have much to invest, but it is a key even when you are not in a tight position. Thinking that you will sell to everyone is the worst mistake you can make. Find a need in the market to satisfy and define your business based on it. But make sure it's as specific as possible that allows you to differentiate yourself from the competition. If you are one more, you can hardly attract exclusive clients who are the ones that will generate the most profits for you.
In the case of the colleague I mentioned earlier, she found a market niche (if you don't know what it is, it's called the group of people with specific characteristics and particular needs that make up your target market, the type of clients with whom you will work) made up of young entrepreneurs, most of them computer scientists, who had a small company making technological applications and who had no idea of the accounting part, much less wanting to start learning something from it. These business owners needed someone who knew what to do with all the bills by the end of the month and who would handle their taxes and tax obligations. Then, as is usually the case in small groups,some were passing the data to others and soon had a larger group of referred clients whose work was similar in all cases (with which it was also doing economy of scale, because it replicated the work of each other, without a greater investment of time)
Do not jump into the void: do you have a stable job and eager to start a business? Start without leaving your job. I am sure that this will represent an additional effort for you, but if it is really worth it, you will do it with pleasure. Of course, you won't be able to sustain this situation for more than a few months, but at least you will have proof of whether you like this that you are beginning and if it begins to take some steps. If so, if your business takes a few steps even though you can only spend a few hours each week, imagine what you can achieve when you have your full dedication there.
Make a reservation: if it is impossible for you to manage both things at the same time, for example because your business requires you to move from the city or travel, you may have no choice but to quit your job. In that case, and before doing so, you will have to secure a reservation or savings that you can live with for a time. It is advisable to at least have the money that will serve you to live somewhat restricted and without luxuries, for 6 months to a year. With this, you are making sure not to expect positive results in your business for a reasonable time. Everything you earn before that time will be “unexpected” and will not only improve your financial situation but will also strengthen the “self-esteem of your business”.
Get yourself a partial job that allows you to cover the expenses of your business: if you are already embarked on your own business and you are not doing well, before burning absolutely everything you have done with your business and re-employing yourself to pay your expenses, you can consider an intermediate option. To be able to opt for this alternative you must have time to maneuver. That is, if you are already in the last instance, with the last breath and spending the little money left, it may be too late. But if you still have a few months of shelter, it is ideal to give you a little energy and fuel for your business. A partial job is usually one that, in addition to how its name describes it for not being full-time and thus allowing you to continue with your business,It complements your income and even in some cases gives you the benefit of being able to promote your own business! A friend worked as a waitress on the weekends until she was finally able to live on her services as a sports coach only. A client paid the first expenses of her business as a professor at the university. Another friend worked as a therapeutic companion until her private practice in psychology began to grow. Teaching at the university, at school or in a private institute, offering childcare services (especially if you can take advantage of taking care of your own at the same time, is a great business!) And everything you can think of that It does not take long and it complements your income, it will give you air to continue working in your own business.A friend worked as a waitress on the weekends until she was finally able to live on her services as a sports coach only. A client paid the first expenses of her business as a professor at the university. Another friend worked as a therapeutic companion until her private practice in psychology began to grow. Teaching at the university, at school or in a private institute, offering childcare services (especially if you can take advantage of taking care of your own at the same time, is a great business!) And everything you can think of that It does not take long and it complements your income, it will give you air to continue working in your own business.A friend worked as a waitress on the weekends until she was finally able to live on her services as a sports coach only. A client paid the first expenses of her business as a professor at the university. Another friend worked as a therapeutic companion until her private practice in psychology began to grow. Teaching at the university, at school or in a private institute, offering childcare services (especially if you can take advantage of taking care of your own at the same time, is a great business!) And everything you can think of that It does not take long and it complements your income, it will give you air to continue working in your own business.A client paid the first expenses of her business as a professor at the university. Another friend worked as a therapeutic companion until her private practice in psychology began to grow. Teaching at the university, at school or in a private institute, offering childcare services (especially if you can take advantage of taking care of your own at the same time, is a great business!) And everything you can think of that It does not take long and it complements your income, it will give you air to continue working in your own business.A client paid the first expenses of her business as a professor at the university. Another friend worked as a therapeutic companion until her private practice in psychology began to grow. Teaching at the university, at school or in a private institute, offering childcare services (especially if you can take advantage of taking care of your own at the same time, is a great business!) And everything you can think of that It does not take long and it complements your income, it will give you air to continue working in your own business.offering childcare services (especially if you can take advantage of taking care of your own at the same time, it is a great business!) and everything you can think of that does not take long and that complements your income, will give you air to continue working in your own business.offering childcare services (especially if you can take advantage of taking care of your own at the same time, it is a great business!) and everything you can think of that does not take long and that complements your income, will give you air to continue working in your own business.
Be creative: it is true that money makes many things easier, but if you do not have it and you still have a passion hitting your chest wanting to go out, you can use creativity to get what you need. If you have a service that you can offer, you have something to negotiate with. Find potential colleagues with whom you can exchange services. For example, a friend who is a coach offered a fellow designer some coaching sessions in exchange for the web design of her page. You can also make a strategic alliance with other colleagues to promote your services, in exchange for a percentage of the sales you generate thanks to that promotion. You have no limit to use your creativity. Everything you can imagine you can try to put into practice to finally achieve the dream of having your own business.
Now maybe you are looking at these keys and you say to yourself “sure, I could start with little money then, if only I had time to do it…” Now your obstacle suddenly changed from being money to being time. You realize? This will not be another one of those collection excuses for not setting off towards your dream.
Or maybe you're wondering "Let's see… let's see… so if it's that simple… why don't everyone who wants to do it do it?" And I have three answers to give you.
The first, because not everyone knows it. Today you are privileged to have obtained this information. What will you do with it
The second, because "lack of money" is one of the favorite excuses because well… if you don't have money, what are we going to do. It seems as if it were an "external imposition", something beyond your control. So you keep that information as a given fact and that's it. You think "when I have money I will achieve my dream of entrepreneurship" and voila… you take the responsibility off of yourself.
The third, because it costs dearly. So tell me what I've said? Is it expensive to start a business without money? And the truth is that in many cases yes. There is a well-known statistic that says that 80% of companies will not exceed their third year of life. Without a proven model, that is really effective and that is applied to the benefits of your business, allowing you to systematically attract new customers, strengthen your position in the market and generate income, you have an expiration date. Oops Have I been very hard? Let's see… I tell you this way, you have a solution. But it is up to you. Do you not have money to invest today but do you really have all the other resources that are needed (time, will, energy)? Get started, jump in, it will take longer and you will hit your head against the wall a few times, and as soon as you have the first income,reinvest them. Hire a mentor, someone who is where you want to be and who shows you the way, who saves you time and money sharing with you what is the model he uses to sustain his business over time and make it grow every day. Find someone with whom you feel identified, who inspires confidence, who feels they can achieve good things working together. That is fundamental. Of course, if you want to work with me (and if you really are a committed and action-oriented person, which are the requirements you need to work with me) I will be more than happy to help you in this challenge. But I am not telling you to choose me, search among all the options you have in the market for the one who best suits you. But do it.Someone who is where you want to be and who shows you the way, who saves you time and money sharing with you what is the model he uses to sustain his business over time and make it grow every day. Find someone with whom you feel identified, who inspires confidence, who feels they can achieve good things working together. That is fundamental. Of course, if you want to work with me (and if you really are a committed and action-oriented person, which are the requirements you need to work with me) I will be more than happy to help you in this challenge. But I am not telling you to choose me, search among all the options you have in the market for the one who best suits you. But do it.Someone who is where you want to be and who shows you the way, who saves you time and money sharing with you what is the model he uses to sustain his business over time and make it grow every day. Find someone with whom you feel identified, who inspires confidence, who feels they can achieve good things working together. That is fundamental. Of course, if you want to work with me (and if you really are a committed and action-oriented person, which are the requirements you need to work with me) I will be more than happy to help you in this challenge. But I am not telling you to choose me, search among all the options you have in the market for the one who best suits you. But do it.that saves you time and money sharing with you what is the model that it uses to sustain its business over time and make it grow every day. Find someone with whom you feel identified, who inspires confidence, who feels they can achieve good things working together. That is fundamental. Of course, if you want to work with me (and if you really are a committed and action-oriented person, which are the requirements you need to work with me) I will be more than happy to help you in this challenge. But I am not telling you to choose me, search among all the options you have in the market for the one who best suits you. But do it.That will save you time and money by sharing with you what is the model that it uses to sustain its business over time and make it grow every day. Find someone with whom you feel identified, who inspires confidence, who feels they can achieve good things working together. That is fundamental. Of course, if you want to work with me (and if you really are a committed and action-oriented person, which are the requirements you need to work with me) I will be more than happy to help you in this challenge. But I am not telling you to choose me, search among all the options you have in the market for the one who best suits you. But do it.If you want to work with me (and if you really are a committed and action-oriented person, which are the requirements you need to work with me) I will be more than happy to help you in this challenge. But I am not telling you to choose me, search among all the options you have in the market for the one who best suits you. But do it.If you want to work with me (and if you really are a committed and action-oriented person, which are the requirements you need to work with me) I will be more than happy to help you in this challenge. But I am not telling you to choose me, search among all the options you have in the market for the one who best suits you. But do it.
So if in your resolutions for this new year you have put that you want to start your own business and become an independent professional, you know, here you have several actions that you can do to put into practice and that your objective is not just on paper.. Do you dare to do it?
