How to start up a business with no money?
To start up a business with no money, more people think that becoming an entrepreneur is a very difficult thing, it requires the huge amount of money, it has to work hard, it has to leave the job like this it has to do a lot of big things, which everyone can’t do. but the author who already is the successful businessman, he says that these all things are not true. Instead, it needs some qualities of an entrepreneur. The problem is when the peoples think about business, they directly think about to make the billions of dollars of business like Bill Gates, Elon Musk, Ratan Tata etc. But in actual, the business will be a great business which can be created as a side business, which can be sustainable and profitable. The business which can give you a side revenue. And everyone can do this without investing a huge amount of money and without leaving the current job.
There are 4 Tips by applying anyone can start up a business with no money. These mantras are as bellow,
Scratch The Itch:
Vic Firth was a very good Drum player of an Orkestar team. Several years of playing drums, he did notice one thing which was frustrating him. That thing was, whichever drum-sticks which he used to use while playing the drum, these two sticks were not similar in the terms of weight, density. so that because of these sticks, the sound was not sounding at the same level or at the same pitch and it was very irritating for him. That’s why he came to the basement and with some research and study, he made his own new drum-stick pair of the same weight and same level, which he later named as the perfect pair. These sticks are so popular that today their company which produces Drumsticks, today this company own 62% market share of the entire drum-sticks market.
Like this, Bill Bowerman who was a track coach. He wanted track shoes but he was not found the perfect, lightweight and strong track shoes for his student in the market. So he himself went to the local workshop and put the rubber in the waffle iron and he made shoes by himself which was strong and also lightweight. After making everyone like this shoes. And he started a company, known as Nike.
If we notice these above examples then we understand that these both peoples felt some problems in their life and there start working to solve. As like this, you also notice the problems which you are facing in your day to day life and think about how you can solve these problems by making an outstanding product and start working on that.
With Core Minimum
Will ask a question! Let’s consider, you want to start a business with no money, in which you have to sell the burgers. So what is a necessity to have a successful business? A good shop? or 5-6 employees?
Well, obviously the necessary is to have the tasty and good quality of a burger. Because even you don’t have a good shop or 5-6 employees then also peoples will come from far away to eat the burger if it is of good quality and tasty. So, Tasty burgers will be the core point of your business on which you should be most focused. Many peoples start to spend more money, time and energy on other things instead of the core point of business and this is their main problem, which does not make any sense.
Example, when the author started his own business of basecamp at that time focused on the core point of his business and also he spent minimum money. He used shared office instead of his own new office, he used only one best server instead of many servers, instead of customer service team he answered many phone calls, emails his own as a customer support team. Like this, you also focus on these things which are must have not on nice to have. To have a good degree thing is nice to have but if you want you can learn many things for free from Google, blogs, and youtube. To leave the current job and start a business is a good thing but by doing extra work or part-time work you can handle your own side business.
After finding a solution on the problem when you will start your own business you will get stuck in your next step with the question, how to become unique in this crow, so that people will choose your business or product (good or service). There is a good solution in which you can make it possible. That is, by fighting with your competitor.
Example, Dunkin Donuts promote himself in the market as anti-Starbucks. He focuses on these things, which shows that how they are not a Starbucks, they don’t give any fancy names to their cups like a Starbucks. In fact, they have made a website which is named as dunkinbeatsstarbucks.com where visitors sells these type of cards on which as it is written like ” Friends don’t let friends drink Starbucks.” Like this Audi promote himself as an anti-old luxury car. He makes fun of other brands like Mercedes-Benz, Lexus in his ads by crossing his limits and tell that how they are not like other brands.
Like this, all the companies fight with their competitors in the market. Because they knew that peoples like taking someone’s side. And when we take anyone’s side at that time we get attached emotionally.
Harward, Cambridge these are one of the best universities in the world. But have you ever think? By becoming that much successful these universities do not open their branches in all the countries in the world. It is not difficult for them but still why they don’t do this? Because they know that, it’s good to fight with less.
You will find many of businesses which focuses on the huge numbers. They think like, it’s good to have more employees more features in the product or to have more menus in the menu card. but the author says that these all things are stupid! eg. Where the author used to live there were two coffee shops. Author used to like to go only in second coffee shop whenever he wants to have a cup of coffee because, in the first coffee shop, he used to get confused while choosing the menu because there were many different types of coffee and he didn’t get satisfies by having any type of coffee from that menu card But he tried a cup of coffee in the second coffee shop. There were only four types of coffees. It was easy to choose the menu from the menu card but the best thing was, their quality and test of the coffee was so much good comparatively first coffee shop. because second coffee shopper was making a good coffee by focusing on limited items.
Generally, Most of the peoples make mistakes like in case, the competitor has given more two features in the product then they also try to give more three feature in their product to compete with the competitor by which they don’t get more profit and also it starts to end their quality of the product. If they focus on limited products and try to give more best then their chances of success get increased. So you also try to compete with less by which your money will get saved, you can earn more profit and can grow fast.
From these four principles become a magic sentence that is “Strech the itch with core minimum and fight passionately with less” remember when you are doing any type of business in your life. Before the end author teaches a bonus lesson that is, you can’t learn what to do from the failures but you can learn what to do by the failures.
So other says Learn from the success means from these peoples who have already created a successful business instead of failures. Then only you can grow fast.
These were some mindblowing lessons from the one of the best book “REWORK“ about which the billionaires say if two peoples come in the front of me. From these, if one has completed MBA and another has read the REWORK book then anytime I will pay for that person who has Read this REWORK book and I will invest on him. So I will recommend you to read this book once if you are doing any business or want to do any business or willing to grow fast your business.
I hope you like this article. You can share your experience below in comment box or if you think, any changes or improvements are required in the post then please comment that also. So that, I can improve it and can give a more knowledgeable information and delightful experience at the next time.
By Entire BGB Team…
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