Is it Possible to Start a Business With No Funds and No Experience?

With the evolution and the development of the internet, a lot of people are taking interest in starting a business. If you want to start your own business, you need money. If you are willing to start a business you should not worry about risking your business investment because not all businesses can succeed. In fact, a lot more businesses fail compared to a business that becomes successful.

Businesses that can be started with zero cost

You can start a lot of businesses with zero investment, or little investment. I am going to share a couple of business ideas that anyone can explore. 

Dropship on the Facebook marketplace: This is absolutely zero-cost business. First of all, you need to find a product, head over to the Facebook marketplace, and create a product listing. When someone buys the product, you buy the same product from the store where it is originally listed and use your buyer's shipping address.

RedBubble: This is a Pint-On-Demand platform. Design products (T-shirts, coffee mugs, hoodies, blankets, towels, caps, tote backs, phone covers, etc.) using photoshop or any other design tool. Upload your design on RedBubble and create a product for sale. When someone buys your product, RedBubble will print the product and ship it to the buyer.

How to Start a Business When You Don't Have Funds?

It is very possible to start a business without any funds. Actually, you don't need cash to start a business. Here are possible ways to start a business without having your own funds.

Burrow from friends and family

Burrow from banks

Sell your assets and build capital

Sell your business idea to build capital for your next ventures

Pitch your idea to a business community and seek investors

Crowdfund your business

Look for grants

Create a limited company or private limited company and sell shares

Well, there are hundreds of ways to start a business without funds, however, whether you can actually start a business or not depends on a lot of factors. For example, if you do not have unique ideas, if you do not have a product that has the potential to sell, you will fail to attract investors' funds. If you want to sell the same thing that a lot of people are already selling, how do you impress banks, lenders, and investors? You need an interesting idea, you need a unique product. Furthermore, you also need to be a good marketer, you need to pitch your idea to business communities, the grant commissions, if you cannot market well, how can you make people interested in your business idea.

Do You Actually Need Experience Before You Start a Business?

Before Elon Musk established Tesla, did he have any experience in manufacturing luxury electric cars? Before Jeff Bezos established Amazon, did he have any experience with managing an online store? Technically speaking, you do not need any experience in order to succeed in the business, a lot of people have become very successful in their first attempt or even when they have started something new. In order to become successful with the business, you basically need one thing, that is the idea. When Jeff Bezos created Amazon he had an idea, to sell products online. In 1995 Internet was slowly getting popular and Jeff Bezos had a vision that one-day people will start buying from the internet. Look at him, how visionary he was. He did not have experience but he had a brilliant idea. Success largely depends on the kind of products you are creating. Sometimes you can be successful in the business even when you do not have a brilliant idea. That's when you have money and you start investing in the right company. For example, Warren Buffet is a very successful person, however, he has not created a single product, he mainly invested in various companies and built his assets.

Starting a Business Without Experience, Without Funds

If you do not have an idea, how would the business materialize? Every business begins with the idea, the idea is the products and services you sell. If you have money but no idea, you cannot do business. However, if you have an idea, you can easily start your business even if you do not have funds. You can get a business loan and start your business.

You also need skills and knowledge. How can you start a business if you don't have skills and knowledge? Just because you have money does not mean you can easily launch the business and make it a success. For a business to succeed, you need money, skills, and knowledge. Therefore, you should consider building knowledge and skills.

First published on Trendri, in the author's name