Breaking into the business world can be an intimidating venture, especially if you don’t have the money or experience to back up your ambitions. Experience, however, can be earned – or at least approached through a “fake it until you make it” style approach. But what can you do if you dream of launching a business but you don’t have the cash? Is money a prerequisite to entrepreneurship?
Money helps but isn’t a requirement for those hoping to start their own business – you simply need to get creative. If you’re not sure where to start, here are a few things to consider.
One of the best ways to build your confidence around the topic of entrepreneurship is to refocus your attention towards those who also started from nothing, but have since made it big.
Steve Jobs started out tinkering in his garage as a teenager and went on to found the tech giant Apple, while multimillionaire consultant Sam Ovens publically discusses his finances – he was broke just a few years ago but had made over $10 million dollars by the time he turned 26.
Such stories attest to the fact that anyone can ascend to great heights.
Even though many people think money is the most important part of any business endeavor, successful people will tell you that true self-understanding far outranks cash on the list of necessities. Take some time to reflect on your goals and on how you view yourself as you pursue them.
If you think you can’t achieve your goals, then you won’t be able to. The mind is a very powerful thing.
If introspection reveals that you’re low on self-esteem, work on improving your view of yourself and begin developing a more positive perspective. You may find it helpful to write down what you think and then revise this description, working all the time to internalize this improved view of yourself. Though it may seem like a pointless process at first, you’re actually participating in your own transformation.
Another key determinant of success that far surpasses money is passion.
People succeed when they pursue goals that matter to them on a deeper level.
Typically this is the case because passion leads you to accumulate expertise on your chosen topic, and this will draw people to you.
One incredible example of the transformation of passion into profit is 17-year-old Jonah, who makes thousands of dollars a month selling watches online. Jonah comes from a family of jewelers, so he had ready access to the necessary knowledge and cultivated an outstanding selection of timepieces on his site, but it was his ability to combine his material knowledge with real understanding of his customers that made his business successful.
At the end of the day, he wanted his customers to have the perfect watch, and he brought his own passion for the field to bear on creating that experience.
Finally, if you hope to start a business but don’t have any cash resources, the best thing you can do is learn your field and network with those in it – without bringing them on board as professional partners.
It helps to have contacts, but you can’t grow a fledgling business by paying others to do the hard work.
Hunker down and work from home, working at night if you have to keep your current job, and start from the position of humble aspirant. If you show you’re committed to the real work of starting a business, you’ll find that others support you.
If you hope to start a business, but don’t have the money, don’t despair – but also don’t put your dream on hold. The only way to build the foundation you need to live that dream is by doing the hard work in the here and now.
Lots of people started just where you are, but the true successes are the ones who had the courage to push past the barriers without worrying about the financial details. You already have what you need, and that’s the passion for innovation.