New business, Starting from nothing!

[Godspower]

The most difficult thing to do is start up a business. It's one of the most difficult phase in every businesses. Your decision making, patience, creativity etc is most put to test in this phase.

In starting a business, everything has to be very organized and planned well right from the capital to the business strategies you're going to adopt. Also, you must be patient enough if everything doesn't work at the initial stage.
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When I started my first business, I did not have any money. I pitched my idea among my friends and they funded the business. When the business lost, I did not have to pay back.

If you didn't have to pay back the capital you got from your friends after the business crashed, then consider yourself very lucky for the kind of friends you have. Most people or financial institutions would have gotten their money back even with interest irrespective of the outcome of the business.

 

[Psalmseen]

To actually get your business to a stage you want to see it in earnest isn't an easy fit. Should we talk about the financial challenges or the bitter competition that's looming around. You really need to set a proper businesses plan even before starting at all

 

[Ghost1]

If you want to start a business that will eventually be successful then you will have to put in a lot of work. This means that if you do not want to spend any money then you will have to put extra work.

Well, I have seen sense in what you are saying. But there are things extra work cannot do it's just money. There are also things money can't do. The key is to ensure availability of the resources required

 

[Godspower]

Well, I have seen sense in what you are saying. But there are things extra work cannot do it's just money. There are also things money can't do. The key is to ensure availability of the resources required

There is no business that does not require capital. No matter the kind of efforts or hardwork you put, you must always expend financial resources to procure a lot of things.

 

[Ghost1]

There is no business that does not require capital. No matter the kind of efforts or hardwork you put, you must always expend financial resources to procure a lot of things.

You are right. Your point is not far from what i said. It's just better to ensure that enough hard work is put into the business while making sure the business is well funded

 

[Godspower]

You are right. Your point is not far from what i said. It's just better to ensure that enough hard work is put into the business while making sure the business is well funded

This is why when most businesses fail, they tend to ignore the financial aspect as one of the possible causes of the downfall of the business. They might think that they are not working hard enough.

 

[greenie]

Starting a business that will eventually be a success will depend on how determined and consistent you are in trying to push up your sales, meeting sales target and generally try to grow up your business in the best methods you can, having a plan without a strategy to achieve those plans will make those plans just a pipe dream.
An idea of a business will not do but you need to be well grounded in the business by means of research, experience and asking other people in similar business how they started and got to be so successful.

 

[Swazykid4all]

Starting from nothing is the beginning of most businesses but to be able to manage the income when it grows becomes pertinent for every business owner.

 

[eLdavis]

Starting from nothing is the beginning of most businesses but to be able to manage the income when it grows becomes pertinent for every business owner.

Well said, this is where discipline comes into play. Most business owners tends to get carried away once they start making it hence they loose any rational thinking they once had. I believe having a mentor to guild you through the process is a good thing. What do you think?

 

[Swazykid4all]

Well said, this is where discipline comes into play. Most business owners tends to get carried away once they start making it hence they loose any rational thinking they once had. I believe having a mentor to guild you through the process is a good thing. What do you think?

Very true brother, a mentor like i said is the main risk taker, whatever would have befall your business in years to come having a mentor will give you information on ways of avoiding it. Sometimes eating your profits isn't even advisable.

 

[eLdavis]

Very true brother, a mentor like i said is the main risk taker, whatever would have befall your business in years to come having a mentor will give you information on ways of avoiding it. Sometimes eating your profits isn't even advisable.

Well said, the mentor probably has tons of experience, so he might be able to stop you from carrying out certain actions before you take them. In terms of not eating your profit, most business owners today especially does starting up for the frist time assume the profits they get are ment to be spent. But the business actually has to grow to a certain level before they can start spending. How do you think does who take loans to startup their business cope with this?

 

[Psalmseen]

To be much sincere, starting a new business and building it from nothing to a notable business isn't an easy feat. You really need to have a good plan so you can survive amidst bitter competition. Make sure you have a good customer service. Make your customers always come for more

 

[Omotayo]

I think when we are starting a business, it is very important not to just go all in without a proper plan and strategy, if you are going to advertise, you should plan on the best means to achieve that and so on.

 

[Alexandoy]

Do you really think that you can start a business from nothing? I know that there are many success stories that some started with a shoestring, so to speak. But come to think of it, stories are always padded with lies and they eventually become fiction narrative in the end. The richest man in our country was known to have failed many times in selling shoes before he succeeded to own the chain of malls here. But I don't believe it 100%.

 

[Sincerem]

Starting up a new business isn't easy in the first place. But you must also understand a bit about the location you are setting your business.

Location also play an important factor that determines the success of a business . If location is not the factor then you are not attracting the right people into your business and where do you locate this right people is a question you must ask yourself.

 

[Shigobad20201]

As an entrepreneur , we have to take risk if you want to make it in life , I started my baking business with the little I was earning form my farming business and the little I am also earning online , and the business is moving forward now.

 

[tyrim88]

When I started my poultry farm business in 2019, I didn't have enough capital so I had to improvise like the chicken plates and drinking containers, I had to use my old basins and containers to minimize cost.

That is just one of the things that can make a person that is just going into a new business should ordinarily do,to cut cost so that at the end of the day the expenses would not affect the revenue.

 

[Shigobad20201]

That is just one of the things that can make a person that is just going into a new business should ordinarily do,to cut cost so that at the end of the day the expenses would not affect the revenue.

As an entrepreneur going into a new business , you must know that you need to cut and lowered your spending in order to allow your profits to increase with time

 

[Chibson]

Starting a business from nothing is actually not easy because you need a lot of business idea and consistency in order to succeed. You need to learn because all I know is the first to succeed in any business venture. Some of the businesses I started online with nothing actually did not succeed.

 

[Kane]

Go to canva dot com and design something cool. Now go to Redbubble, sign up, upload your design and use it on various clothing items or household products. Yo sell and make money. You started a business out of nothing. Now, you might ask it is for real? Well, absolutely. A lot of people are making money by using this technique.