HOW TO BUILD A BUSINESS – HOW TO START A BUSINESS WITH NO MONEY

HOW TO BUILD A BUSINESS – HOW TO START A BUSINESS WITH NO MONEY


Today we will talk about how to start your
own business. First we are going to focus on starting your
business from scratch, and in the end we will talk about how you can start a business without
any money. Let’s jump right into it. First, Start with an idea. This is pretty straightforward. You need to come up with some kind of idea
for your business. Play with your idea, google it, see if someone
already came up with it, is their business successful, is the market saturated? How are you going to beat your competition? At this stage when you’re brainstorming your
idea you should keep two things in mind. If you want your business to be successful
you either have to be better than the rest, or to be different. For example maybe you want to start a business
selling cookies. Being better means that you’re prices are
lower or the cookies taste better. Being different on the other hand means that
you are unique, maybe your competition has defined look and size for the cookies, but
your company allows your customers to design their own cookies on your website and buy
them afterwards. This is being different. Keep this is mind when you are comparing yourself
with your competition. Also a very important question to ask is,
how much value do you bring your customers? Do you bring more value than your competition? If not, how can you increase it? The more value your product or service offers,
the easier it will be further down the road. So you’ve analyzed your idea and the market,
and you’ve calculated it should work just fine. Great, begin the second phase. Build your idea into reality. This is where most people get stuck, they
just come up with ideas and never act upon them. Having idea is great but it means nothing
if you never make it a reality. I can’t stress how important it is to get
started. It’s far better to try it and fail than to
not try at all. Believe that you’ll figure it out as you go. When you get to work on your idea, you will
face obstacles that you never thought even exist, and you will be forced to come up with
new solutions to overcome those obstacles, as a result your idea will change and mold
itself into something very different than it was when you first started. I wanted to learn something new everyday and
improve myself, and also create videos about it So I started this channel. At first I started with a whiteboard and a
camera, I would record a time lapse of me drawing images on the board. My drawing sucked, so, I had to change something. The idea was the same but I needed a different
approach. I tried animating the videos with Illustrator
and After Effects. Unfortunately that didn’t work as well, the
videos took too much time to produce, so, again I had to adapt and change. Lastly I found out a software that can make
animated whiteboard videos. It combined my first approach the whiteboard,
and the second approach animation to produce animated, blackboard in this case, videos. But do you think I would’ve known about the
software if I didn’t started in the first place? No! Not in a million years. No way I could’ve known that you can make
animated whiteboard videos with a software If I didn’t started. So many people get discouraged because they
think their idea is not good enough and it will fail. Well I failed so many times and I am still
failing when I am making these videos for my channel, but as Thomas Edison said, It’s
not failing Its just finding out different ways that don’t work. And last, this is very very important. Test your idea, get feedback, adapt and change,
then repeat the process. This is the reason I changed my second approach,
it took too much time to get feedback. This is one of the mistakes a lot of people
make. They build their business without testing
and they think since they’ve spent too much time on their business people must like it. I learned this the hard way. I’ve spent more than 200 hours on a single
video, I thought wow this is brilliant, people will absolutely love it. So I posted the video and went to bed. In the morning, I thought, I’d have thousands
of views, but in reality, I woke up and had like 11 views. So don’t do this mistake with your business. Build something as fast as possible, show
it to people get their feedback, adapt and change, then repeat the process. The main thing about building a business is
really to get started, persist, and to have the right mindset. If one thing doesn’t work don’t give up
and quit, change it and eventually you will find something that does work. But how do you start a business without any
money? Let’s say you have no money in your pocket
or maybe just as little as a 100 bucks, and you want to build a business. Can you do it? Yes. Will it be easy? No. Building a business is hard, and building
a business without any money can be even harder, and not every business can be started without
money First. Build your business around your skills and
knowledge. For example if you are good at marketing,
you can start, let’s say a dropshipping business, and if you’re good at cooking, start
a cookie business. For me its Android. I am skilled in coding android apps, so my
business will be related to an app, because I don’t have to spend money for the
application. I can develop those apps myself, so the only
thing that I will lose is time. But hey when you don’t have money you must
trade your time. Second. Build your business as an online business. In today’s world we have a big advantage as
we can reach millions of people online virtually free. You can start an Instagram account, or a YouTube
channel Then you can use your skills to give your audience value and reason to follow and
watch you. After that you can monetize your audience
and continue to grow your business. I’ve seen so many clever ideas that are successful
on YouTube. One dude was great at physics so he started
making simple videos about physics, people loved it and donated money for every video
he made, another example is a dude that started One guy was trying to learn new things as
fast as possible, like juggling, riding a unicycle – and recorded it on camera. People loved to see how he struggles and eventually
reaches his goal and also supported his videos. I personally follow one guitar player that
does electrical guitar covers from popular songs. Over 2 years he gained around 200 thousand
subscribers, he uploads the songs on different platforms where his audience can buy his songs,
thus effectively starting a business using his skills and knowledge instead of a starting
capital. Third. Obviously not every business can be started
without money. If that’s the case with your idea, you can
try to secure an investment. You can search your local business accelerators
or find investors online, but you will have to have a solid business idea and a business
plan that you can pitch to your potential investors. You can also try crowdfunding. There was an idea with a cube that had different
buttons and wheels that people can use to keep themselves entertained. It reached around 150 thousand supporters
and more than 6 million dollars in funding. It shows you that it really is possible
to start a business without money, and the only thing that’s holding you back is your
creativity and willingness to start. I hope you got encouraged from this video
to start your own business. Many people think that their idea is not that clever and never get started in the first place. But everything you see around you is made
up from people who are no smarter than you are, so if they can do it the only thing that’s
stopping you is your mindset and lack of action. Anyway be sure to subscribe and hit that bell
button so you don’t miss the upcoming videos, thanks for watching and I’ll see you next
time.

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About the Author: Oren Garnes

41 Comments

  1. Good tips and advice! I like how you used your own situation as an example.

    As you say, most people have at least toyed with the idea of starting a business, but the bar for entry seems high. Just gotta start somewhere I guess.

    I personally want to make a company that makes quality tools and hardware that isn't designed to break after 2 years, but it doesn't seem profitable in today's society.

  2. for such a small channel, you have very sound advice, great direction and solid nformation. I think you should be way bigger than you are.

  3. Hey project better self! Just want to say good work on the channel! You've been working really hard on improving it, and that's impressive. I hope mine can follow in your footsteps!

  4. I'm not trying to throw any shade because your channel is great and maybe I'm missing something but what makes you reliable? Do you own a successful business or do you just evaluate others?

  5. How long do you spend animating a 5 minute video using Video Scribe? I want to animate some of my voiceovers on time management.

    I absolutely love your videos. Really engaging and practical.

  6. He said he used in some moment VideoScribe, but, what software did he used for this video? Anyone knows?

  7. You just gave me the inspiration to start my first step, that i have bee putting off for weeks, thanks man🤘😎🤘

  8. Good luck starting a business if you live in Canada… you can't even sell lemonade without a permit. what a great country lmao.

  9. I 100% agree with this youtube! I started a business with money and managed to make it run for around 1 year. It was awesome. I made a mistake of not reinvest my profit back into the business. Lesson learned! Now I'm starting a business with no money. It is harder, but it also challenges my creativity to be even more out of-the-box thinking. I think, it is more fun to get a business going than to have already succeeded. Like a game. It is not fun to have won the game, much more fun to be in the process of winning.

    It is liberating to have developed the right mindset and skill to start a business with no money, than with money. No one can take that away from you, and you get more confident in yourself.

    A good place to start is to read or listen to books etc. about the right mindset to make money.

    Focus on how you can provide a service or product(online), that will serve others, then start with what you got and make it happen. When you make some sales, reinvest all the money into your business and upgrade your business. Keep going and the business will grow big. It is that simple! Mistakes are learning experiences and part of it.

    Great speech. Youtube: Mastering money Stuart Wilde

  10. I feel sales management and advertisement is what I am going to have trouble on. I have many ideas, but I had no clue how to start, thanks!

  11. First thing to look for is whether if your idea or business has any potential customers. what is the market size.

  12. Показываю, как легко начать раз в сутки до 70 дол. на свою карту. Смотрите видео у меня канале

  13. I am a kid,thank you so much i've been saving money for my fam and more please make more videos that is for us thank you so much much AGAIN.

  14. great video! the main thing to starting a business is discovering a problem and figuring out how to solve it.

  15. I’m a 12 year old but for 2 years I’ve been wanting to create my own technology company for 4 years now

    I’ve come up with many ideas that could actually be created and thank you so much for this video, it’s really helping

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