Starting a Business With NO MONEY | 5 No Investment Business Ideas For 2020 | Summary and Q&A

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March 10, 2020
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Simon Squibb
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Starting a Business With NO MONEY | 5 No Investment Business Ideas For 2020

TL;DR

Learn how to start and fund a business without any capital through strategies like selling products on credit, requesting deposits from clients, crowdfunding, and leveraging social media.

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Key Insights

  • ๐Ÿ‘จโ€๐Ÿ’ผ Selling products on credit is an effective strategy to start a business without capital.
  • ๐Ÿค‘ Requesting a deposit from clients allows you to use that money to fund the project and fulfill their requirements.
  • ๐Ÿคจ Crowdfunding platforms offer a way to raise capital by attracting pre-orders and investments for product-based businesses.
  • ๐Ÿ‘จโ€๐Ÿ’ผ Leveraging social media platforms can help in promoting and gaining customers for your business without any financial investment.
  • ๐Ÿค‘ Starting a business with no money requires resourcefulness and creative funding strategies.
  • ๐Ÿค‘ Developing partnerships with individuals who have money but no ideas can lead to shared success in a business venture.
  • ๐Ÿ˜‘ Equity crowdfunding provides an opportunity to not only receive investments but also secure pre-orders for a product that is yet to be developed.

Transcript

so this is simple you start a business and you basically sell that say is a product business let's say for argument's sake its lawn mowers you go out and you sell those lawn mowers and then you basically get a load of orders and with those orders you go to the supplier of the lawn mower and you say give it to me on a credit for 30 days or 60 days a... Read More

Questions & Answers

Q: How can I start a business with no money?

One approach is to sell products on credit, where you collect orders and negotiate credit terms with suppliers. This allows you to make a profit before paying for the products.

Q: What is the concept of requesting a deposit from clients?

By asking for a 50% deposit from clients upfront, you can use that cash flow to hire resources and fund the project while ensuring the client's commitment.

Q: How does crowdfunding help in starting a business with no money?

Crowdfunding platforms enable you to showcase your product or business idea and receive pre-orders or investments from individuals, providing the necessary capital to bring your idea to life.

Q: How can social media be leveraged to start a business without any funding?

Social media platforms like Facebook, Twitter, Instagram, and TikTok offer a free way to promote your business, gain customers, and spread the word. Additionally, you can reach out to family and friends to support and become customers.

Summary & Key Takeaways

  • Starting a business with no money involves selling products on credit, where you collect orders and request credit from suppliers, allowing you to pocket the profit between the sale price and the supplier's cost.

  • Another approach is asking for a deposit from clients before delivering a service, which can be used to fund the necessary resources for the project.

  • Crowdfunding platforms can be utilized for product-based businesses, where a compelling video showcases the product, attracting pre-orders and investments to raise capital without initial manufacturing costs.

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