Tuesday, 1 April 2014

STARTING A BUSINESS WITH ZERO MONEY



People start business, then what would add spice to the post. I would be telling about how to start a business with zero money or investment. A business is literally an enterprise involved in profitable exchange of commodities and valuable use of human resource. It is really possible to start business at really negligible cost and the one that would fetch a mind blowing profit.

STEP 1: Make a note down of your interests and rank the utmost priority to be the base theme of your business which should reliably accompany profitable advancements.
STEP 2: Through various resources, search engines and networks, find out exactly correct business that satisfies your needs as well as interest.
STEP 3: Do an extensive research work on the business and find out the required details that would inculcate your possessions towards the start of business.
STEP 4: Prepare a business plan - a module that would act as a guide while your are in a progression of searching/starting business:

  • Primary, Secondary and Tertiary expenditure of the enterprise.
  • Expected manufacture rate and price of the commodities, transaction will be dealt.
  • Starter business volume and ways to increase the initial business.
  • Ways of giving exceptional qualities/features than the outstanding competitors.
  • The staff and office bearers to be recruited and by how much breakdown.

STEP 5: Do an analysis of the competitors in this field and some strategies that can assure your overcoming over them.
STEP 6: After talks with professional in the fields being anonymous to them and your intentions,  try to test your ideas and hence prepare a competitive report.
STEP 7: Take tutorials for the business starters and go to the consultants.

BY THEN YOU ARE READY TO START A BUSINESS WITH FULL COGNITIVE ASSURANCE. 

STEP 8: Compute your current assets and name them worth value which they would give when sold or publicly auctioned. In future when you will be taking a loan, you would be sure that in case of mortgage, they will have enough money to fullfill the loaned amount.
STEP 9: Streamline your staffing plans.
STEP 10: Secure an official small business loan. Many governments offer loan programs specifically designed to get small businesses off the ground. In the U.S., the SBA is the agency that operates these programs. The most commonly-used SBA loan program is the 7(a) program, which requires businesses to meet a variety of requirements to ensure that the money is being well-spent. These requirements state that the business must:

  • Operate for profit
  • Meet SBA guidelines for what makes a business "small"
  • Operate in the United States or its territories/possessions
  • Have sufficient equity (basically, value.)
  • Exhaust other reasonable avenues of raising money before applying
  • Be able to demonstrate a need for the loan
  • Be able to show a sound use for the money
  • Not be delinquent on any existing loans to the government

STEP 11: Advertise your business.

STEP 12: Take advantage of unconventional sources of funding. So, you don't have an angel investor or a trust fund. This doesn't necessarily mean it'll be impossible to raise cash for your dream startup! Today, it's easier than ever for people who have great ideas (but no money) to get the attention of people with money (but no great ideas). Consider, for instance, advertising your project on a cloud-sourcing site like Kickstarter. Sites like this allow you to "pitch" your idea to the internet at large - if people online think your idea's good and your business plan is sound, they'll have the option of chipping in some of your startup costs!

STEP 13: Include following features:

  1. Warranty of the commodities
  2. passionate towards the formulae of 'Costumer first'
  3. Economical reinvention like 'free', 'bonus', 'add'

MAKE A NOTE THAT:
1. Aproach contracts and partnerships with caution. Be sure that you consider every business relationship or partnership you make very carefully. Only hire or partner up with people you trust absolutely. If you do decide to partner with a person or business you trust, be sure to have the terms of your partnership recorded in writing before making your relationship official.

2. It can be a very good idea to pay a lawyer to help you write your contracts for you. Legal fees can be expensive, but a well-written contract can save you many times your initial investment in the long run by preventing your partners from taking advantage of you.
Be careful when using the term ‘partner’ when you speak with business associates, as the legal concept of promissory stoppers (the spoken word superseding a written contract) might bite you at a later stage, especially if you start making money.

3. Build your ability to negotiate. When all else fails, negotiate, barter, and trade. Confident, crafty bargaining ability is one of the defining traits of a true entrepreneur. This is a valuable skill to build, as it strengthens your innate business "know-how" and improves your confidence. Whether you're hiring a new employee, shopping for some equipment, or hammering out a business partnership, don't be afraid to haggle and make offers that are beneficial to you - the worst the other person can do is say "no." Take risks (while protecting your legal rights) and you may be pleasantly surprised at the outcome.
Try making a trip to the local flea market - here, you're usually allowed (even encouraged) to haggle and bargain with vendors, so you can get some good low-stakes practice in.

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