Entrepreneurship is the hot topic of this decade. As unemployment levels keep rising especially during the COVID 19 pandemic, A swarm of ‘wantpreneurs’ are being enticed the more to join the world of start –ups. Not too long ago, focused and motivated student would usually aim to graduate from top MBA Ivy League schools, land their dream job and work their way to CEO positions of top fortune 500 companies. Nowadays, it is not uncommon to find highly paid workers who would want to quit their jobs to live the flexible life of an Entrepreneur.
Quite unfortunately, not everyone can raise enough capital to start a business from scratch. Often than not too many dreamers are too broke to start. This can result in procrastinating time and time again aiming to wait for the time of abundance which may or may never come.
This week we will discuss a few things you can do when you want to start a business. Preferably with almost zero capital.
START SMALL
Aspiring to start a newsletter business, fashion business, or a catering Business? Why not try your hands on a fashion blog or food recipe channel on Instagram and YouTube? The start-up cost to open a fully functional website and a commercial Instagram page is minimal and almost zero with the services from first step consultation group. Once you succeed in digital marketing, you’ll attract some customers and your business venture will begin to take off.
START MAKING MONEY UPFRONT
One great way to generate income quicker is to request payment upfront. you can do this by requesting initial payment of at least 50% upfront , offer incentives to pay early , encourage trust by showing up in persons if your clients are local , send invoices regularly , setup an automatic payment system , offer discounts and promotional deals as often as possible .
LEARN FROM YOUR FIRST CUSTOMERS
The road to building a successful business is clumsy, unorganized and difficult. One mistake Entrepreneurs make is to assume all will go as planned. Spoiler alert it wouldn’t. The process is a learning process and Entrepreneurs must psyche up their minds to learn periodically from the experience and make changes as often as necessary.
The first Objective is find your customer’s conviction to purchasing your services or goods. This may include finding out what they think you can offer better, what they think of your services etc.
GET A CO –FOUNDER WITH MONEY
Many successful Business started with two or more co-founders. Having a co-founder will not only increase your chances of success but will also help in making better decisions, holding you accountable, expand your horizon, generate great ideas and scale off your business
You may be too broke to pursue your dreams but like they say two heads are always better than one. Dedicate the coming years to gradually fuelling your dream and growing your business instead of several days. Persistence is everything.
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Writer: Joseph Obeng Junior
Editor: Herbert Afriyie
Publisher: Kelvin Mbir
Credit: Business insider