How to start a business with “No Capital”

Published by kelvin Ehiozefe on

entrepreneur meditating
Have you ever wonder the possibility of starting a business with No capital or loan from the bank? then this article is for you.
It’s never advisable to start a new business with borrowed
money as 90% of business you start on borrowed money tends to fail, reason
because for every business it requires a lot of time and consistency before it
can begin to get the kind of awareness it deserve, trust me during this time your
borrower wouldn’t exercise the same patience as you and even if they do it
simply means more interest that implies you might end up running your business
for your borrower for a very long time. Loans are only acceptable for already
existing businesses.
What is Business?
The dictionary defines business as the work of buying or
selling products or services for money. I will define business as an act of
exchanging values. Selling is to add value to people and value can be in the
form of service, vision, products, ideas, principles, imaginations, techniques,
creativities, and so on. Therefore, no sales no business, the ability to market
ideas can change your life there is no magic about money. In life, sales drive
every other thing.

As long as values are being exchange, you are in business.
If you can also sell services, vision, products, idea, principles,
imaginations, techniques, creativities etc., you are in business.
       1.       How much information or understanding do
you have about the business you are considering opening?
What do you know about the products, services, and market?
Look at businesses that you know very well, and not just from a technical
perspective, but from a market standpoint.

       2.       Do you have all the necessary skills to run
the business?
 (Not just those
required to manufacture the product, or deliver the service). Remember no
matter what the business is, you will have to do some selling 

       3.       How passionate are about this business you
considering opening?
 You are more likely
to stay the course and be successful, if you enjoy what you do. However, be
careful that your passion for your hobby doesn’t blind you to the business
potential it has. You may be an excellent writer of poetry, but making a living
from it is all but impossible
      4.       How competitive is the field you want to
You may have worked for many years as a lube technician and
feel that you have what it takes to launch your own business, but how many
other oil and lube businesses are there in your town, and is there enough
business for another? Analyze your market and see how saturated it is.
Remember, you will be trying to take market share away from existing
businesses, unless your business is the only one of its kind in the locale.

Can you
identify where there is a gap in the market, where there is unfulfilled demand
 If you are looking at
the retail market, is there a product that people currently have to travel a
long way to purchase? Consider the example of social media consultants; as the
business world started to see the potential for marketing their products via
Facebook, Twitter and other sites, there was no one around to tell them how to
go about it. The gap was quickly filled by entrepreneurs who saw a need that
was at that time unanswered

      6.       Do you have enough business concepts to run
the business?
The best thing you can do to prevent yourself starting a
business that simply doesn’t work for you, is to work in it for a while. If,
for example, you are considering opening a coffee shop, go and work in one
while you are writing your business plan. Experience the business first-hand
and you will not only learn a great deal, but you’ll see if you enjoy the

      7.       How patience are you?
Every big enterprise we see today started someday, you must
be ready to wait and be consistency in service delivery.

       8.       How big is the market of what you intend

Identified the people, or companies that may buy your product?
You can do a market survey to
identify the class of people, or companies that may buy your product or

      10.   What could be the profit base of your
Can you make enough profit, based on the
information you get from your market research
Business you
can do without having capital in Nigeria.
Real Estate
; yes real estate is a very profitable business that would
require No capital to set up. Real estate is all about buying, selling of
property or property management (land, houses and hiring). Starting up on a
small scale with No capital to get the necessary license you can help people
sell their property to potential buyer for a small commission or help people in
search of new apartment get what they want and get a commission.
in our today world, we have people who very busy and can’t
find enough time to clean their home. You can start helping these set of people
clean up their homes and get paid awesomely for your service. All you require
is to do what we call the door to door advertisement introducing your services.
Painting; becoming a
professional painting contractor requires no capital to set up.
– consulting has always been a favorite start-up option as
the cost of entry is extremely low. In today’s economy many companies that laid
off staff are now seeing shortages in certain skill sectors, which they need to
fill by outsourcing. What is interesting is that increasingly, corporations and
government are moving from larger agencies to smaller firms that specialize in
a niche market. Hot niches right now include anything that saves companies
money, sustainable business practices (including greening) and social media.
Please keep these quotes in mind;

  •         Failure or limitations of the past have no
    control over the greatness in you. To him that believes, all things are
  •             Don’t wait for everybody to believe in your
    ability and dream.
  •          Never design your life a garden where anyone can
    walk in and out, design it like the sky where everyone aspires to reach.
  •          Aim high and reach high this is your time to be

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Categories: Business Matters

kelvin Ehiozefe

Hi, my name is Kelvin Ehiozefe am an online entrepreneur and a Content writer. I write about Business start-up, Blogging, Lifstyle and Technology

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