most important question to ask yourself before you set out to source for
capital to start or build your business is “Am I sure that what I absolutely need to
start my own business is raw cash?” The correct answer to this question
is a vital step to getting your business up and building your own wealth.
There are many beginning entrepreneurs who had wasted many years that they could have used to building their wealth, to moan their inability to search/source for capital for their business. They make the mistake of thinking cash, rather than think creatively. They fail to realized that not every business idea that requires raw/physical cash to start it. And some that need cash, such cash are not as much as they think.
In the collection of Businesswealth
series, we teach you how to make money legitimately from nothing, just with
creative ideas; you can start building your own wealth. You can also order for
one of the Businesswealth series titled “Building a Business Structure on your
ideas” or our "eWealth Package". For visiting this site, you have
chosen to start your own business in a simple but easy way. All it takes is ACTION. Discover innovative sources of capital for your Business in this website
Back to the idea of starting your business with little or no cash, we shall discuss three basic wealth builders. We called them wealth builders because these are principles that enable you to build your wealth steadily and gradually with little or no capital. They include solid integrity, an effective network and using what you have. With these tools, it will be very easy to lay hands on “paper money”, what we generally refer to as L.P.O (Local Purchase Order) of which you could get a front row seat at any leader interview room.
(a). Solid Integrity
Integrity is what you develop internally as your character make-up. Without credibility and integrity, success in business is a mirage, but with it, your business grows and flourishes. Integrity simply means keeping your word and promises while in business, fulfilling your services with all commitment and sacrifice. With integrity, your customer welfare is first and last, your product is best in delivery and efficient in usage.
(b). Effective Network
To be candid, all the people you come across in life are in one way or the other network with you. But with the right network, you get the right opportunity of demonstrating your creativity and ideas. By network, I mean getting connected to the people you know, I mean the right people and the right friends. This also includes the friends of your friends. With credibility and integrity in place, you can become a recommendation by others for the job which invariably promotes your business. If you are a good net-worker, you will get and achieve everything.
You can start constructing your network, not necessarily when you want to start your business. As you go through life, you come in contact with people, who could be of help to you in future. So be conscious as you build your network. With a good network and the proper understanding of your business vision and mission, you can have opportunities coming your ways.
(c). Use What You Have
What you have initially might not be fund or any form of it, but identified intangible resources within and around you. While you source for fund to start your business, you can start in a small, inconsequential way, by making use of what you have. You have a passion; let that passion metamorphose and show in your speech and your plan. Speak convincible to people about what you can do, demonstrate your talent and gift, you might not need cash. I mean raw cash to do that. When your passion speaks through you, people tend to believe in you. Even the Holy Book says “the gift of a man make a way for him”. Natural talents are there by nature but you have to dig them up.
Find out what you can do that is so unique to you, start gathering information. Build a website around such things and with content based monitization model on your website, you start earning affliate income or adsense income from google.
Break down your business services into smaller details and you will find out that you don’t need much fund to execute some. There are times you must have to start a business idea without completely having a big structure on ground, but with credibility, integrity and a good network you have people willing to be your customers, even without seeing a big structure on ground. What they saw was credibility and integrity.
Here is an example of a business model that does not require any capital or that require zero or small capital. When you have to collect the paper money from source X (that is the person in charge of giving out the contract) and hand it over to Y (the lender). In both cases, what you are investing is your integrity. That is your bankable collateral that you will deposit with X and Y. Once there are qualities such as character, integrity, a good credit history and many others factors, you are in business. You don’t need money to execute such business.
Also suppose your network does not lead you to any lender, or your network is not so developed to include a banker or a financial institution, it is advisable to still use your network. Just find out if anyone in your network is selling the goods you were asked to supply. If there is none, then may be the person they know does. Again, if there is none, perhaps the person they know, know the person selling it. And so on. A good and effective network brings services to your business. I hope you are getting the picture. This scenario can be apply to your situation.
Finally, as we summarize, not all businesses demand that you start with great amount of money. Certain business models need just the exchange of ideas and you will receive legitimate commission which in some cases. Yet, this business is legitimate.
We at BUSINESSWEALTH GLOBAL RESOURCES LTD believe that true wealth reside in every individual and we can lend you a helping hand to discover your wealth, that is real and legitimate and that is why you will need all the resources in this site. You can subscribe to our Businesswealth Newsletter.