this post was submitted on 28 Nov 2023
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Basically, my question is the title.

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[–] Low-Helicopter-2696@alien.top 1 points 1 year ago

If you have absolutely no money, you should start by getting a good job and saving some money.

If you've got even a little bit of money, you can start a service business like a landscaper or a window washer.

[–] Grenvallion@alien.top 1 points 1 year ago

You can't make money without money. That's just the truth. Even if you were doing something like washing car, you'd have to spend money to get all the supplies unless they agreed to let you use theirs but not everyone would be willingly to let you use their stuff.

[–] FatherOften@alien.top 1 points 1 year ago

The missing component is not money.

Your missing component is your values, skill sets, and bringing value to the marketplace.

If you have the character values in the skill sets you will identify value that can be brought to the marketplace whether in the form of a service or a product.

Then you sell and buy. If you have money you can buy and sell.

Buying and selling are skill sets that need to be well-developed.

I started my company with very well developed skill sets and values. I identified value to bring to the marketplace. Then I went out and sold, collected the money, manufactured and bought, and then delivered.

During that process I padded everything so that I could build up a small inventory that progressively grew over time. That allowed me to go out and target small customers that would be reoccurring purchases. Overtime I gained more and more individual small customers and at times I had to greatly increase my manufacturing capabilities as well as my inventory on hand so I would find another large customer and I would sell and then buy.

Over the years I've switched now to just buying and selling.

I didn't have a phone, computer, money, or even a car when I started my business. I had six children that quickly grew to 10 when I met my now wife, and I lived in a borrowed 28-ft camper while going through a nasty divorce. I had a job that made about 50 grand a year, but I was paying over 50% of my income before taxes to child support.

I borrowed $150 and bummed a ride from my now wife who is then my girlfriend on my lunch break to go into Dallas and set up a general partnership and open a Chase business checking account with the balance of the money. Went online and got a free EIN number and applied for a tax resale certificate. I used Canva to build flyers for my products utilizing pictures of my competitor's products. I built my pricing in terms based off of my efforts with identifying and establishing manufacturing facilities overseas.

Then I spent years and years and years and years cold calling tens of thousands of individual shops and dealerships in OEMs around the country and the world and building my customer base. Still to this day I'm doing cold calling. I'm proud to say that we control the majority market share for niche of commercial truck parts in America and a strong double digit percentage of the global market and it's growing faster and faster.

At some point soon we're going to hit the cap of total market so last year I diversified into a second niche of products that took capital to get started and is much more competitive globally but also has a multi-billion dollar market cap versus maybe 150 to 200 million dollar market cap in my primary niche of commercial truck parts.

Our primary niche is in the strong eight figures with eight figure net profits. Our secondary niche is in the five-figure range about to break into the six figure range finally.

Once you get moving you have to master the mundane and daily do the tasks that are repetitive yet critical to growth and scaling. Downsize your life and try not to take anything out of your business until you absolutely have to or told to by your CPA.

Find ways to keep your personal overhead sustained while doing all of this.

Realize that only seven or eight percent of Americans are entrepreneurs and only 1% at most of that 8% succeed. It is the hardest path that you can choose to make money in most will fail due to lack of values, skill sets, and the ability to identify a value to bring to the marketplace.

It's totally worth it though.

[–] bcisme@alien.top 1 points 1 year ago

Convince investors you know what you’re doing.

[–] Kicka14@alien.top 1 points 1 year ago
[–] Dejay1788@alien.top 1 points 1 year ago

I started my business with £100. I built a shopify website and a small amount of stock from china. This year I am on course to make over £300,000 in sales, by myself.

Perseverance and learning to market a sellable, scaleable product.

[–] bong-water@alien.top 1 points 1 year ago
[–] the_family29@alien.top 1 points 1 year ago

Do a Solid model business and sell 50% or more of the business, start it with that funding and put yourself a salary.

[–] SufficientView2563@alien.top 1 points 1 year ago

If you have a solid idea and business plan, perhaps look for investors!

[–] username48378645@alien.top 1 points 1 year ago

You can't. Get a job, save a lot for like 3 years, then start your business.

[–] LargeP@alien.top 1 points 1 year ago

Being an entrepreneur isn't about money. Obviously the life involved capital however money is not important when getting started.

To begin you must train yourself to the entrepreneurial mindset. This is a mindset where future you becomes the hero of your life. Every good hero needs goals, and every hero with goals will need a villain.

You must create this villain in your mind. Everything you want, they want it too. That car you want, that computer you want, that girl you want. The Villain wants more. In addition, the villain works harder than you right now.

You must work out who this villain is and what they do. The villain doesnt work out when they feel like it. They get up every morning and are at the gym by 6. The villain is studying every night. They are reading 2 books a month. They are.. on and on. Write a list right now, 25 to 30 points minimum of what your villain does (what you wish you could do). Once you have an idea of this person, you will now know exactly what you could have been if you were working towards your goals everyday for the past year without fail. Think about what kind of shape you would be in after an hour of the gym everyday regardless of how you feel. Think about how far ahead you would be in any endeavor.

You now know exactly what you need to be doing to become your own hero. You are the only person that can work hard to achieve your goals. And you are the only person who can quit and give up on yourself. Dont fuck this up, its on you now.

Are you going to be the hero? Or the average nobody. Get writing your list of villain traits, and then the next time you are eating chips watching Mulan for the 30th time on the couch... just know the villain is getting all you ever dreamed of for their hard work.

[–] Strong_Badger_1157@alien.top 1 points 1 year ago

It's not impossible, but it's much harder.
I started my first company with like 100$ to my name. Took over a year to even be able to pay myself, had to do everything myself, no money to hire people etc. Mostly same thing for second co
Third company: I raised few million first and within 3 months we were profitable, hired fantastic engineers and moved super fast getting to billion$ valuation in just 5 years. (felt slow at the time but that was very quick).

So, do you need your own money? No, make sure your idea is good enough with a large enough addressable market to be able to get external financing.

I began my journey in 2005 as a graphic designer while still working my day job. I used free tutorials to learn photoshop & the Adobe Suite (Canva is free), took on free jobs to build my client base (now Fiverr & Upwork are the go-to platforms), and used every networking event as an opportunity to gain new clients. After my first job, I had enough left over to order 100 business cards. I always kept my business cards with me, which happened to be refrigerator magnets... and they really seemed to stick with people. Best wishes on your Entrepreneurial adventure!

[–] LinkLift@alien.top 1 points 1 year ago

Be patient and look for business opportunities on the internet. You will find something that doesnt need a big capital at the beginning.

[–] BubblePinkCookie@alien.top 1 points 1 year ago

i will start my cafe in future

[–] gritpop@alien.top 1 points 1 year ago

Start a band

[–] Far-Salt-6946@alien.top 1 points 1 year ago

Learn to spell Entrepreneur, that's probably a start

[–] RockPast2122@alien.top 1 points 1 year ago

Cold call. If you don’t have a product, I’m looking for appointment setters. It’s a great way to start. I would pay you $50 per appointment and then an additional $450 for any sale I make from your appointments. You would be calling on business owners and I would do a 30 minute zoom presentation with them. I would typically make the sale at the end of that presentation. Obviously in some cases there’s follow up involved but it’s all the numbers game and the service is top-notch if you want to know more, let me know.

It depends on what is the business. If you have experience in marketing for example and the nature of the business requires those skills, you partner up with others that bring the other skillsets needed to build the business.

[–] GreatEdubu@alien.top 1 points 1 year ago

Any business which can be started with money can be started without money simple is that must have a powerful assumptions everything comes to you

[–] zak_fuzzelogic@alien.top 1 points 1 year ago

Without any .money...you're either really bad or running a charity.

Start by identifying a problem or need you can address. Develop a thorough business plan outlining your model, target audience, and revenue streams. Seek out cost-effective strategies like bootstrapping, networking, and leveraging free resources to propel your business forward. Remember, determination and creativity can help you overcome financial limitations.

[–] xylostudio@alien.top 1 points 1 year ago

Do something illegal to build capital.

[–] juliiii__@alien.top 1 points 1 year ago

Learn a skill and sell your service

[–] rugosefishman@alien.top 1 points 1 year ago

That’s like step one.no money.

[–] WoodenBee8908@alien.top 1 points 1 year ago

A sales job

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