Wednesday, August 16, 2017

How To Start a Business With No Capital.

business start up

In Nigeria and many other parts of the world today, a common saying is “I have a profitable business idea BUT I don‘t possess the required capital to start it“. While it is a known fact that capital is the life blood of any business, not having it in the required amount should not hinder the dream of an entrepreneur. Through assets sales, crowdfunding, angel investors and lending platforms, you can make your entrepreneurial dream come true without having capital. See how to start a business with no capital.

1. ASSETS SALES: As an aspiring entrepreneur, you should be aware of the fact that assets have value and can be converted into cash, as such, your existing assets ranging from your cell phone to
automobile(s)/landed properties can bail you out in your pursuit of cash needed for turn your business idea into a going concern.

2. CROWDFUNDING: You can realize your entrepreneurial ambition by joining crowdfunding platforms like www.gofundme.com and kickstarter. Once you join any of the platforms, your funding need will be attended to as the platform will help you source for fund globally. Note that you must avail them your details, the amount needed (in dollars) and the use to which the fund will be deployed.

3. LEVERAGE ON ANGEL INVESTORS: If you have a good business idea and a convincing business plan, you may approach an angel investor who is willing to provide fund to financially assist your business. Under this option, you should note that every angel investor expects quick response to what he is investing. If you want to hit the ground running in no time, explore this option.

4. LENDING: Do not be shy. Approach your affluent family members, friends and well-wishers who have the financial power to assist you kick start your business. Let me share this little secret with you.
Africa‘s number 1 businessman, Alhaji Aliko Dangote borrowed $3,000 from his uncle to start his business and as the saying goes, the rest is history.

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