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How to start a part time business with little or no money

June 24, 2020

Read 6 min

The opinions of the employees of s You are personal.

How to start a part time business with little or no moneyHow to start a part time business with little or no money

Have you always wanted to start a media company but haven’t?

I know exactly what is holding you back.

I have spoken to countless emerging entrepreneurs who want to start beauty companies, bakeries, technology companies, clothing companies, hot sauces, etc. The list goes on. But despite the fact that all these part-time business plans and ideas were very different, the first concern that the entrepreneurs brought up for me was always the same:

“I have no money. How could I start a company?”

I fully understand this concern. If a company has never been created before, many of the first steps seem completely insurmountable, especially if you’re not lucky enough to face them with a wallet.

But do you guess?

Michael Dell He started selling PCs from his dormitory. Apple, Disney and Google were born in garages. I started a million dollar company from my kitchen table and believe it was completely ruined.

If you feel you cannot start a profitable part-time job in your current situation, you may be right. But not because of what you think.

The real reason why you don’t start your part-time business

I’ll be realistic with you for a second. It’s not about money because most companies don’t need a lot of money to get started.

It’s about your mindset.

Ask yourself: Why do you need money to start your business? What would the money give you? What would you spend the money on?

Regardless of whether you notice it or not, you could use your lack of money as an excuse not to start your middle business.

Very often people come to me and think they need money to start their business, but when we dive into a conversation and answer these questions together, we find that they really lack something else. Perhaps you need more confidence and overcome your fear of failure. Or maybe you feel that you lack the experience to get started.

Here’s the thing: Your mindset is the most important predictor of your future success. If you are convinced that you cannot build a profitable part-time business, no amount of money will help you to be successful. Changing your mindset is key to moving forward and creating something great.

If you’re really serious about starting a part-time business and letting go of excuses, I’ll show you how.

Your mindset is the primary predictor of your future success / Image:

3 tips to start a part-time business successfully with little or no money

1. Don’t do it alone

No matter how skillful, confident, capable and fabulous you may be, your personal drive will never reach its full potential if you insist on doing it all yourself. Use the experience, connections and feedback from other people before you start.

Use the local experience. Contact experts in your area of ​​interest and ask if you can invite them over for coffee. You’d be surprised to know how many people are willing to help if you just ask. Whether they answer your questions, comment on your business plan, or speak to someone else who can help you get up … you don’t know everything you can do with a good cup of coffee.

Other people and businesses may also have resources that you can use to start your business for less. If you don’t have the capital to hire someone to build an app, work with an engineer and build. Look for creative ways to offer mutually beneficial scenarios that do not involve large financial compensation.

2. First create a request

Many new companies work according to the philosophy: “If you build it, they will come.” They dream of the product, they design it, they make it, and then they go to work to sell it.

I recommend the opposite approach.

Before you spend a penny, interest grows. If you are considering starting a juice company, ask everyone you know if they are interested in a juice diet. If you want to make a range of graphic t-shirts, please pre-order them first. Calculate interest, take orders and use this money to cover production costs.

Once you have the products, go out there and get customers. Offer discounts or free samples so people can see for themselves how amazing your products are. They give you momentum, testimonials, recommendations and hopefully loyal customers.

3. Dream big, start small

Your potential is absolutely unlimited. I firmly believe that you are able to start a part-time company that outshines your daily work, allows you to devote all your time and energy to your passion, and is absurdly profitable.

But it won’t be like that from day one. It will take a lot of hard work.

Don’t diminish your dreams in the name of reality. Dream big, dream big. But be patient when trying to achieve your goals. Don’t quit your job the day you launch your website. This will put you under too much emotional and financial pressure. It starts small and grows big.

To test the concept, create an inexpensive, workable minimum product or service and see how things work. First, consider creating an online product to reduce start-up costs. If your product or service cannot be translated virtually, start locally. You have a lot of time to grow and make progress: if you start small, your company has a better chance of success.