7 tips that will help you at the beginning of your business journey
So, you have an awesome idea for a business, have a business partner that won’t leave you, but, hell, no money. What to do how to be how to get out of the situation and still go about their business-Tropez with a proudly raised visor? We will investigate.
1. Start small
And so always do, especially if you have no experience in business Affairs. I want to open a nationwide network of hot dogs? Why?! Open a couple of outlets in the same city, and even one. Test your model in action and only then think about expansion, even if the funds are allowed to do something more global at the start. Be smarter than your baked competitors. It’s always nice to start small and come to a greater, and not Vice versa. Keep in mind that you need to start is always much less than it seems.
2. Find ways of passive income
In the early stages of your business you always have to take over the gills even the small fish in the murky pond, because, perhaps, a few thousand will be the money that will serve as an impetus for the development of your business. In any case, if you have somehow appeared unplanned money, put them into their main business and not for concert tickets and burgers.
Start always hard to start without money – it is doubly difficult. However, such beginnings grow into something majestic. And we must remember that many cases of their newfound company can do to avoid personnel costs. Minimizes costs, not to create more jobs when you can do yourself. Any in their bar and as a janitor and a bartender and a disc jockey. Besides, if you gain experience in the field that is not your specialty, you will be able much more thoroughly to find candidates for this position.
4. Business grants
We took off the oil needle, and therefore the government is seriously interested in the production we are getting better. There is a whole galaxy of business grants that really works. Find out about them, find out about availability in your region and, of course, knock on doors, offer a business plan.
Perhaps the business grant will not cover all your start-up costs, but it can help you get back on your feet. And most importantly, the grant must be given. And if you’re not lucky, at least know that a good business plan.
5. Look for «angels»
There are investors who just like to do something good. They Fund a lot of startups simply because these startups have the potential to improve human life. These guys are hard to find, and many of them are engaged in IT business, but worth a try. In fact, this method of funding for your business is no worse than others.
6. Use other people’s money
If you opened your online store, do not immediately fill a part of all kinds of goods, which «probably» will buy. Let customers place an order, checkout, and then it’s your turn. Maybe it sounds not very good, and the delivery will be longer but it is better to use the money customers than to throw your resources when you don’t.
7. Use social networking sites
That took your friends in Facebook and Vkontakte. If their number exceeded a few thousands, then you already have a great platform for advertising for the first time. Competently make a commercial lyrics, let them understand what you do and the rest will follow. The first customers, as a rule, it is always friends and acquaintances. And then the Domino effect.