How to start a business with no financial capital

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start a business with no financial capital

When it comes to startups and essentially funding a business, especially a new business, people complain about the lack of sponsorship. They prospect how much easier it would be if there was enough financial capital.

A lot of business startup owners spend more than half of their business preparatory time looking for money. They apply for so many sponsorships and grants only for them to apply all over again when these sponsorships fall through.

This cycle is as draining as any challenge can be. Over and over again, founders of very great businesses have to be subjected to the challenges lack of money brings and looking for how to surmount these challenges wastes their time and reduces their productivity. Come to think of it, if I spend more than necessary time looking for how to get funding for a fabulous idea, how assured am I that the force with which I started with will not fizzle away?

You can find great business Tips for Female business owners in Nigeria here

I want to in this blog post, reveal to you how to start a business with no financial capital. If you have come to a dead end and you are just about to give up, this might be all you need. You may need to start all over again to implement what you will read here but isn’t it worth it? Some dreams, ideas and plans should not just go.

Intellectual capital

Do you know that you can invest in knowledge and trade this knowledge for what you really need to start up a business? Let me give you an example. You want to cultivate a rice farm, sell produce from there, package and brand locally and bring a slight twist to the way locally made rice is perceived.

You can go equip yourself in all you need to know to have a successful blast in this field. You can then ask for collaboration with agricultural firms who would like to have their staff trained. If you are dishing out so much quality and are exuding matchless passion, you will attract brands that believe in your work.

Sometimes you need to wait before you launch. This is so that you do not get stuck in the middle for want of money. It’s okay to have your ready-made proposal. Keep it and then begin to equip yourself with all you need. Sell yourself with this knowledge. In selling yourself you sell your brand.

Social capital

Let me give you another example. You want to open a media /PR firm. You know of someone who is capable of funding your ideas and plans. In fact, they don’t have to be one person. You may be prospecting more than one person. You can trade your knowledge of gaining visibility and traction online with their own trust. All you need sometimes, is to get a sponsor to trust your vision and your drive.

Give them a test run of your capabilities. Offer to manage one of their social media accounts. Build a symbiotic relationship with them and get them to twist their arms to help you.

Listen, you will have to one day leverage on the connection you have with people to build your business. Somehow your social capital depends on Your intellectual capital. You see why you need knowledge either way? Build relationships, nurture them and make the important ones like and believe in you and your business proposal.

Source: Happenings

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