subject: Six Steps to Zero Investment Business [print this page] Six Steps to Zero Investment Business Six Steps to Zero Investment Business
Business requires capital. That is why we were made to believe that if we do not have enough financial resources, we cannot go into business.
There are ways in getting into business with zero investment. Here are some tips that will help you have a business with no capital. I have done this in two of my businesses, and you can do it too.
First, evaluate yourself. What are you good at?
All of us have talents and skills. Some people are good in sales, while some are good administrators. Some people are good in handling money and some people are good in cooking or baking. Capitalize on your skills and talents. Make them work for you.
Second, come up with business ideas that you know will work, that will make use of your skills and talents. You must remember that these are your investment in the business. Therefore, you should bean expert in these areas. Do not go into a business that you are not too familiar with.
Third, look for people who has the money but do not know where to put their money in.
There are lots of people who want to go into business but are afraid because they do not have the know-how on how to run a business. These are the people you will tap. Offer them your business ideas and if they are convinced with it, you have a good start.
Fourth, go into partnership with your investor, with him as the financier and you as the administrator of the business. Of course, he might look into your credentials and your expertise because he will be investing on your proposition. There should be trust on both parties: he should trust you, that you will help make his money grow, and you should also trust him to give you that freedom to make decisions for your business.
Fifth, seal in the deal. Lay down the rules and agreements and legalize them. It is important to note that transparency in all areas of the business should be observed. Also, get a good lawyer who can advise you on some concerns you may both have.
Sixth, get an outside accountant who will take care of the financial records of the company. This should dispel any apprehension your financier will have on the use of his money.
It would be wise to have an open communication with your investor. He should also be updated from time to time on the status of your business.
Smart people go into business with just the use of good business ideas and zero investment. Are you one of them?
