Is it possible to start a business with little to no money and if so, how to go about it?

I’m going to show you how to start a business without money and you better believe it.Sure, to start a business without money is much harder than if you have sufficient funds in place but hey, if you can eventually have a business of your dreams without putting up a ton of money of your own upfront, why not, right?This blog post came about as a result of a question ‘how to start a business without money’ which I’m often being asked by aspiring entrepreneurs via How to Start a Business and Succeed (my blog).The very first time someone asked me this question, I though, seriously?! That’s what you want to know? Clearly you need some money to start a business…I mean, you can’t just set up a business like that without money…who does that?!But then I thought about it long and hard and eventually realized that yes, YOU CAN START A BUSINESS WITHOUT MONEY and it’s not all that difficult.Before we get to it however, let’s park money aside and quickly look at what’s essential for any one business to come into being in the first place and exist or thrive thereafter.While money is certainly very important and necessary, it’s not the only thing needed to start a business. In fact, money is of no use if you don’t have the winning idea, target audience with otherwise unmet needs, wants and desires which you can fulfill better than anyone else and of course the know-how or the adequate skill set.Peter F. Drucker aka ‘the management guru’ or ‘the father of modern business’ stated that a “business is an organ of society” and that the “purpose of business is outside itself”. These two statements are so very profound and if you’re able to truly understand them, your perception of business will change forever.The purpose of business must never be and can never be to make money, that’s a mere responsibility of any business. Every responsible business must make profit to stay in business, pay for itself and its growth.The purpose of business therefore has got to be “outside itself” or in other words, to fulfill otherwise unmet needs of its target audience, who traditionally happen to reside in the same society as the business serving them.Today however, that’s not necessarily relevant any more due to technological and communication advancements…nonetheless, the principle of detecting otherwise, unmet needs, wants and desires and fulfilling them, remains the same.So, in essence, for a business to come into being it has got to have clearly defined why, who, what, how, where and when. Let’s briefly look at each one… https://ift.tt/2D9vsbd via /r/business https://ift.tt/2Q6Fdtz