How do I start a business from scratch with no money, no credit and no expert friends to help?

How do I start a business from scratch with no money, no credit and no expert friends to help?

By sir R K Naidu

               

•                   My straight answer is POSSIBLE !!

Business is all about using the money wisely and multiplying it, now there is a situation where there is absolutely no funds…

Let me get it straight, there are 2 types of businesses

Trading your product for money
Trading your service for money
Since you have no funds to create a product and sell, you can pick the service industry which constitutes 40% of the market share.

Now it is up to you to decide which service do you want to render ? If you go with traditional services there are many but if you could crack a service which is unique then your going to hit the jackpot.

I can share an example of a company by name Just Dial in India, which started in 1994 in a small garage with 4 employees ₹50,000/- investment. The company was a startup and idea was to help people with the phone number of what they want in their locality i.e restaurants, stores, plumber, carpenter, hospitals , doctors, game centres and more (inspired by yellow pages). Today it is a billion dollar company.

Well there might be a question as the illustrated example has a 50k investment ! A secret weapon of business is Leverage (use borrowed capital for (an investment), expecting the profits made to be greater than the interest payable)

Since you don't want to borrow money suggest you to join a job related to your startup idea, gain experience and save some money & then invest it on your idea.. once your confident use leverage to expand your business and now start managing your financials.

TIP : Create a service while will make people's work easier or make them lazy, it will be a HIT