Sunday, 1 November 2009

Start your Own Business without a Penny.

An lot of us that to be a Business entrepreneur, one needs to have a lot of Cash. It is true that you may need money to start a business, but this is not always the case. Why do i say this? It is because you can start your own business with little or no money at all and you do not need the mercy of a bank manager to start you off with debt! I know that you are already asking, what planet is this man coming from? But wait a minute, in this article i am going to show you exactly how you can achieve a dream of your own business and you will be on your way to becoming your own boss.

Without wasting any more time, i want to go to the point straight away. I start by asking the question;

What makes up a business?

The answer is, a business basically is a combination of services or products needed by customers. So, this means that for any business to exist, there has to be a service or product that is on demand by people whom we call customers. Now, if you think of it there are almost countless products and services as there are customers.
So, this is what you need to do, start by looking for those people or customers who are in need of a particular product or service, and it does not matter whether you identify only one of this kind of people, because, that will be your break through as you will have realized that your product or service is needed out there.

Nail your order
This is very important as it is going to be the back-born of your venture. What i mean is that get the order from the to-be-customer and agree on the price, making sure that you have included reasonable profit margin in your pricing. This should be done thoroughly and accurately because you can not change your mind later and you also need to cover your every costs involved in the transaction. Go ahead and agree on the delivery terms including where and when and remember to smooth out the product or service specifications.

Source of your Product or Service.
This is the magic of the business and therefore do your home work smartly and protectively about this aspect because this is going to your life blood. You see, i have just changed orthodox view that money is the life blood of a business. No way, it is the source of your product or service that is the life blood of your business. I am sure you are wondering what i mean, well, have you ever asked yourself why high streets can sell at less than half price? It comes back to this one factor, they source their products at very low prices normally at wholesale price or manufacturers' price and with stringent terms. But do not worry about that, true you do not have capacity to source your products from from these places but that is ultimate goal and therefore all you need is to leverage your marketing skills and your customer relationship. So on the basis of these two factors and any goodwill that you may have, buy or even buy-now-pay-later so that once your product is delivered to your customer and paid for, then go back and pay. Or you can even just buy a product at a near-wholesale price depending on a your negotiating skills.

That is all you need and your business has taken off. From now on, simply expand your customer base and the good news is that you will not need to work very hard at the sourcing point to get your product because you will have created the desired goodwill and you will be working on increasing your business and your sourcing point will be happy as well due to increased business on their part.

Next time, i am going to talk about how you can double your money so be sure to check here in the next few days.

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