Start your business without a penny

By on December 22, 2012
Mind of an Entrepreneur

The most common excuse for not owning a business is an empty pocket. People live with the wrong mindset that you can only own a large company if you have a large capital, this is just wrong and unfortunately  this is the reason why  young  boys and girls have delayed very profitable business ideas. This steps will help you build a large company with no capital at all and get your good investors that can make your dreams come true in life.

1. Be Sure of What you want
This is the first and most important thing before the establishment of any business. It is good to identify the exact goal of what you wish to establish. Clarity of an idea makes the work easier and drives it faster.

2.Time frame
Time is a resource that is more important than money. Time itself can be translated into a resource. The knowledge of the time frame you plan to establish a business can drive the birth your dream company faster. After deciding the time frame, you can then divide your tasks into smaller units of time frames.
For Example, if your business idea is to start up a real estate company in a time frame of 12 months s(1 year), you can set up a goal for the first quarter(Jan,Feb,Mar) which could be to do all your necessary research or partners.  The Second quarter (Apr,May,Jun) could be used for branding i.e website designs, Social network pages & promotions, logos & documentation. The third and the last quarter can be used for establishment i.e getting an office, looking for clients, partners and marketing.

3. Research
This a detailed formal  work to increase the knowledge you have in the business field you plan to venture into.  But before you do this, be sure you make a list of all you have(This should include websites you can learn from, books and companies who are in the same field with your idea). Take advantage of the internet as a resource that you already have. Online, you can find hundreds of thousands of similar mega companies who are already doing what you plan to do. Use them as a model, learn their secrets, follow them up and know everything about them.
For example if your idea is to start your own eatery or restaurant, do a detailed research on best restaurants globally, know their standards, study their menu, know their prices and if possible eat there and observe their services. This will help you set an outstanding standard for your own eatery in the future.

Also constant research boosts your faith, increases your energy level and open your eyes to bigger possibilities and opportunities.

Make your Service/Product the best
whatever you are going to offer customers or clients, make sure it’s simply the best in that field. For example, if you plan to own a boutique, plan for a large variety of quality clothes that everyone would like. If your idea is to start a delivery company, plan for the best  services and make sure it’s better than the already available options.

Daily steps
Work Out a Plan of what to do Everyday. Wake up, and make sure you do something on that idea, it could be to make some inquiries, make a phone call or even share with someone.  Take an extra step everyday.

Create your official business plan
Draft an official business plan  which will include formal statement your goals set, why you believe they are attainable, and the plans you have for reaching those goals.It should also contain detailed information of your organizations, marketing plans, competitor analysis, operation plans and executive summary.

Make/ Create a prototype
This is only if your business is a product. Creating a prototype is very important because it communicates better to future investors.

Make a detailed presentation
This could be a video presentation that will describe the service you plan to offer or the product plan to market. This could also be a power point document . note that your videos of power point slides should be short but detailed. Most times a investor could give you only few minutes to present your proposals & plans. However, it should also carry a convincing power that communicate with whoever is watching or reading it.

Make a list of possible Investors/partners and get them involved
This is the easiest part, make a list of at least 10 people who can finance your idea, 5 companies that can partner with you, book appointments with the people or companies and show them your presentations. Good communication skills is always a plus.

Goodluck !
entrepreneur

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