How do you increase capital and begin doing work for yourself when you yourself have no money. Here is my undertake the “I’ve no money” way of thinking. Capital. Put aside ten percent a month and within a season you will have enough for a seed finance. How will you put aside 10 % a month with limited funds.
Get rid of your discretionary expenditures – stop watching movies, eating snacks, drinking soda, smoking cigarettes, buying presents for yourself or all your family members or in eager situation even food. I have resided for six weeks on raisin bread and butter so that I possibly could pay off an integral part of my startup credit credit card bad debts. When you put your mind to it, of the 12 months you can reserve a good little bit within the short period.
In a given month one does spend fifteen to twenty percent of your paycheck on these items and if you would like your business bad enough you mustn’t have too much of a problem making these small sacrifices. Time. For most technology ventures the first & most essential milestone is the proof of concept.
If you are a programmer start sleeping less and working more. When you can put aside one hour every day and a complete day on weekends, a week you get two full days, in a year 104 times. That is 4 months of programming time that you don’t need to pay or raise capital for.
Focus. Make the time count. You must be focused on an approach that will get you to profits quickest. Don’t build anything grand or esoteric, build something that can sell and increase your seed fund or help you meet your money requirements. You’d be surprised at how much cash is floating around the business idea you have dropped deeply in love with.
- Bank funding assistance
- Reach out to relatives and buddies to spread the term on FB and any other social media outlets
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Look around hard enough and you will find something that you can sell within a month. If you’re in love with blue tooth technology, sell your blue tooth library of functions for some dollars. There is certainly your first product. Unless you have a collection, write a 30 web page ebook on dealing with blue teeth and sell it on eBay or amazon.
If you don’t, won’t or can’t do that, get a blog, post your code and generate income through your Google AdSense account. Teach a course on blue tooth at a local institute or run it online. You need to be a little creative and the amount of money shall find you. Rather than concentrating on raising money, your focus must be on the path that will start the money flowing. Misc. Only you know the real potential of the market you see. Every body will discourage you and let you know that you will be either wasting your time and effort or taking an excessive amount of a gamble. Assume that there surely is no support group and you’ll want to do it all alone.
If you persist long enough it’ll come together so long as you are in a business where you can make money. If you feel that you can’t (generate income) then drop it but never ever take any one elses word for it. What is the worst that can occur.