Fear will get you know where in business
Being an entrepreneur is a dream for many people, many people put off being an entrepreneur because they do not have the capital to get the business off the ground. Many people have the dream and they have the vision and great ideas but they feel they lack the capital to see their dreams become success.
There are several steps for getting your dream and vision off the ground. If you feel that you have a great idea and you have put a lot of thought into executing your plan don’t let having very little capital stop you from seeing your dream come true. Yes there is going to be stress, yes there will be nights with no sleep, yes you are going to work hard and yes you will have to step out of your comfort zone. But you that want to be an entrepreneur bad enough will make it happen.
Here are some steps that will guide you to get your vision off the ground with little capital.
- Make your knowledge work for you. Take what you know and have skills in to build your business. Do not spend money on outside sources and consultants to build a business you know nothing about. Take the years of knowledge you have already invested in and build your business, you will find it easier and sometimes knowledge may be all you need to get your vision started. You will spend less money and time relying on others to guide you if you just take what ever you know and put it to work..
- Let the world know what you are doing. Tell everyone you know what you are doing, this includes your family, friends, people at the grocery store, bowling leagues, business contacts, people at the gas pump and etc. This is called grassroots marketing, or marketing 101, don’t be shy and don’t feel embarrassed to tell everyone about you and your business.
- Spend your money conservatively. No doubt your going to have expenses, try to keep them minimal if you can. Make wise decisions on your purchases and avoid overspending when you can. Remember you are starting a business with very limited capital, be frugal until the business brings in good revenue, this can make you or break you,
- Don’t use credit unless you have too. When establishing a business you should not use credit cards for business purchases like computers, meals, furniture, and office supplies that you do not need. These expenses can add up quick and lead the business to the firing squad. Slowly purchase new items when you have positive revenue growth. Don’t add to your stress, if you don’t have the cash yet, then don’t purchase it with plastic.
- You built it. When first starting a business you will be the one doing everything. You will be answering the phones, marketing, building your reputation, and all of this takes time. Some days you will find yourself working around the clock, just remember you are not doing it for nothing or someone else, you are doing all this hard work in order for you to be successful. This is called sweat equity, your business will be a great success because of your hard work and sweat equity.
- Make the internet work for you. There are several ways to market yourself, just remember you are starting this business on a shoestring income. Social media today is a great tool to gain exposure to your business and to gain customers. Another source of free advertising is through writing on forums and writing articles in the local paper.When ever you can use local media sources this can be very responsive because the public will look to you as a leading local authority. Use what ever free marketing you can until you have the revenue to advertise more elaborately.
- Work hard. When venturing out on your own especially with little or no capital you will be working hard. You will need to dedicate everything you have and know into making your business a success. Again you will have to be the one answering the phones, playing office manager, service manager, handling customer complaints or questions, handling the finances and banking and of course you will have to be the marketing guru. In order to be successful you will have to wear many hats for awhile until your business grows.
Don’t be afraid, don’t let limited funds keep you from seeing your dreams come true. Life is full of stress and life is difficult, take that energy you are using now to be successful for yourself.