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Friday, 21 June 2013

HOW TO START A BUSINESS IN NIGERIA WITH LITTLE OR NO MONEY.




Do you have a profit pulling idea that can bring in enough cash but no cash to finance it? Or are you wondering how to start a business without money? Then, this article is surely for you. It is very possible to start a business without money anywhere. All you need is an idea or ideas to get started with. Ideas are powerful and very indispensable for any business.

Here, in this article, I’m going to highlight ways to start a business without money. I call it strategies of starting a business without money. These are:
1. Postponing the normal business starting activities like incorporating, hiring, renting an office, etc until your business has started earning enough money. This is known as BOOTSTRAPPING in the business world. Start with yourself and grow big.
2. Doing everything yourself without paying salaries can help you when you don’t have enough money to start a business.

*Using some neat tricks like starting with the easy stuff, i.e ,eliminating expenses. Though, an office 
space is very important, don’t rent an office for now, work from home or better still, work from a friend’s office. If you need to see a client and you are worried about an office, don’t panic because you can meet in a restaurant where a normal business can be discussed.

1. Don’t just hire lawyers, technical people, graphic designers, or an assistant as these people can be very costly to keep. Learn to do these normal things yourself.

2. Get a free lawyer or legal advice from the mentors at www.score.org

3. A registered business is the best business structure since it is a proof that your business is a legal one, but don’t worry about registering, at least for now as you can do that later. Most big companies started this way and later incorporated their business as they make progress.

4. Learn how to do your own financial statements for your business in Excel instead of hiring a book keeper.

5. Make a website for your business to start promoting your products and services. You can get a free hosting space for your blog at www.blogger.comwww.wordpress.com, www.tumblr.com. These are free sites you can start with, though you are going to have their site name on your domain name but you can add a custom domain later to have full access.

6. Make sure you go for free advertising like using mouth to tell your friends and colleagues, posting on free classified ads sites etc.

In everything, make sure your product or service is very unique. You can start a business without money and grow it to a mega business that employs thousands of people; it starts from here. Remember, a journey of a thousand mile, starts with a step.

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