Have you a successful business idea, but no money? Do these 5 things to start your own Business

You want to start a business. You thought of many things to do start a business but you observe that that's not fit for you because either many of the people are doing that's types of business, you are not interested in that's types of business, that's the time taken and low scalable or that's are good but you need to invest much money in that's types of business.

So you become very tired to listen to many business ideas from your friends or near and dear. After some time out of your home, when you were alone, you were thinking about any new business idea. You saw any problem near you, everyone struggling with that problem but no one even try to solve that. Suddenly an idea comes to your mind that if you start to solve this type of problem of the people, for this they can give you money. And this becomes your business idea.

Now you want to start your business. you started R & D on your business plan. And you found that there are many scopes of your business idea if you started your business then it will grow soon. But you also find that to start this business you need the money and you have no money. This means you have a successful business idea but no money. 

Now, what you will do?  

How you will start your business?

To solve this problem, I have given 5 points below that will help you to start your business with no money.

1. Make partners

Photo by fauxels from Pexels

If you have no money then making partners is a good decision. Always try to find a partner who can invest all the money in your business. But be remember always try to do paperwork before making a partner because if you not completed your paperwork it will harm your business.

If you want to make one or more than one partner/partners always try to know deeply about your partner. You should always try to know about his interests, knowledge, how much money they will invest, his source of income, his revenue, and many things about your partner.

You need to always try that your partner invests all the money in your business, he also works with you and you need to always take shares more than him. If you have less share in comparison to your partners then you can't take any decision. It is true, you will be informed of all the decisions but your decision will not be the final decision, while if you have more shares in comparison to your partners then your decision will be the final decision. 

2. Borrow money with your friends and family

Photo by Alexander Mils from Pexels

It is true that in starting no one will believe in your thoughts, so you need to take borrow money from your friends and family. You know very well that in any business you need the money and without money, no one's business can be run and in starting no one will think to fund in your business.

Taking borrow money with your friends and family is the best way to start your own business. Because they are the only person who can give you money without any interest. And if you have taken borrow money from anywhere, and then this money will become your headache. You always try to pay that money by scaleup your business. It will help you to grow your business.

If your business is growing up in the future then you need to definitely take a loan in the future to scaleup your business. If you already have taken borrow with your friends and family then it will help you to pay your loan amount.

3. Start as a mediator

Photo by Oleg Magni from Pexels

If you think your business idea is fantastic but no one is understating your idea then start as a mediator. Because as all the business, your business idea should be a problem solver to your customer, which can be solved by becoming a mediator. Many of the business started by using this formula.

.OYORoom (On Your Own)  is a leading company in India in online hotel booking. 

OYORoom owner Ritesh Agrawal also started by using this formula. In starting he target a hotel in which anyone did not want to visit. He deals with the hotel owner that if I bring the customer to your hotel then can you share the profit in 50-50. He also promised the hotel owner that if you get in loss then money will be mine while if you go to profit then share will be distributed 50-50 between us.

After listing this word everyone shakes hand with Ritesh Agrawal. Now OYO is a leading company in India in Hotel and Room booking.

4. Use social media

If you have no money yet you want to do your business then social media will be the best tool for you. Because everyone using social media in 21 century and if you use social media for your business then in a very short time everyone knows you and your business and they will also buy your products.

In this way you do not have to spend money for advertising your business, people will know your business in with you.

5. Do a job in the same field

Photo by Andrea Piacquadio from Pexels

This word is not a good word for you if you want to do a business, I know very well but you also know a truth that, to start a business you need money which is you don't have. And you have failed in the mentioned above four-way then, then this is the last way for you to start a business.

You can't take a loan from the bank because the bank will also be asked how you will pay the loan to the bank. And in the present time, you have not source of income. Of course, you are generating it but at present time you do not have.

But be remember if you are doing a job they do in the same field because in this way you will get earning with learning.

Summery

We know that to start a business you must require money but there is an alternate way to start a business without money for this you have to do some work that is

1. Make a Partner
2. Borrow money with your friends and family
3. Start as a mediator
4. Use social media
5. Do a job

Mentioned above are the alternatives to start a business without any money. But for this, you need time and hard work. If you have money then you can grow your business easily but the challenge is when you do not have single money and you not only want to start a business but also want to grow your business.

If I said to Make a partner means you need to find a trustworthy person who can also invest money in your business to run

In the terms of Borrow money with your friends and family means you can borrow some money with your near and dear but they will not provide you as you required but that will much enough for you to start a business

In the terms of Start as a mediator means you can start your business as a mediator if your business is about consultancy or about to buy and cell types. Only these types of business can be started as a mediator.

Use social media means you can start your business on social media if your business is about to sell any products not about if you are providing any services. If your business is about as provide services then you can start as a mediator.

In terms of Do A Job means if you not found any types of funds from anywhere but still, you want to start your business and you did not want any partners then for this you need much money and they there is only two way to get money

The first way is to take a loan from a bank and the second way is you can do a job and learn how are exactly business runs.

Conclusion

In 2020, especially after lockdown many of the businesses have rained down. Many of the employees are unemployed after this. On one hand, many of the businesses are shutting down there on another hand many of the businesses are boosting. They touched the next level in lockdown. It has been done only because they already on the internet platform and during the lockdown they know that the internet is the only way they can run their business.

So they started to go online and when they come on the internet they touched to the next level of the business. Many of the businesses run with a great idea and without money. But for this, they required many efforts.

Thank you for reading this article! If you like this article just share with your near and dear and leave a comment.