Is money really essential to the success of the business? Yes, of course. Can you survive without capital? Of Course, not. But can you start a business with no money? That is Debatable. Let’s discuss.
Let me start with an anecdote. Today, I had a meeting with a prospective supplier of mine. I was really impressed by his way of clearly stating his production and fulfillment process. I also noticed how he did not miss any chance to boast about his production capacity. While I was paying attention to his selling tactics, I was also fully aware that everything that he was saying was coming back to one single point, ‘Minimum Order Quantity’.
Since, this is a blog that will discuss my business journey, I think it is logical to discuss my experiences, without giving all minor details.
The point that my prospective supplier was making was that he will be providing me his value only if I agree to start with a minimum order quantity, which I was unable to commit to. And did not steer the discussion home and I ultimately decided, now is not the time to go forward with his offerings.
Was He Wrong In Asking For A Bigger Order?
He was definitely not wrong in any matter whatsoever to ask for a bigger initial order from me. The reasons being:
- He has to incur costs which will be beneficial only at a scale.
- He would have been doing business with a relative newcomer who is not sure about his average order prospects per day.
If I were in his place, I probably would have done the same. So clearly, he is not being questioned here for asking for a better offer. The question is, should a person without money not even think of making money through business?
My Thoughts on ‘Can You Start A Business With No Money?’
Yes. You definitely can. Well, at least that is what I think. A 100% of the ‘Rags to Riches’ stories that you see on the internet, about the business world; are about people who at some time, either had no money, or lost everything on a bad decision. Eventually, their forward thinking helped them reach great heights.
Now, let me add. You will need money to ‘grow’ or ‘scale’ your business. But to start a business with no money, should not be a big hurdle. Most of us are probably solopreneurs, who will be hustling day and night to create value in someone’s life with their products or services. And while we are not actually saying that you can produce and ship your product with zero investment. But the required investment should not cost you your family fortunes. Especially in these tough times of crisis, when every penny of the savings is precious.
Your journey from idea to execution should not require more money than you can afford. Because, that would be subjecting the world to live with one less awesome product or service forever(or less, depending on how soon you manage to generate start up funding).
What are the options?
You would be wondering if I can start business without capital, What exactly can I do? Well, there are multiple options for you to choose from. Emerging models of business operations contain some of the most low investments businesses, like:
- Print on Demand,
- Self sourced Products,
- Self made products,
- Affiliate Marketing
- and a lot more,
I will be adding more models of businesses to this list in the future. And I will be writing specifically directed posts about them. So that you can stop worrying, and start creating. Write in the comments below, what would you like us to discuss first?
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