The resounding answer is NO! But most business-consulting firms would not tell you that because it would cut into their profit margin. In fact, when faced with a prospect who cannot afford the fees most businesses (agents/employees) are taught not to waste time, or simply wish the party “good luck”. But there are other ways you can attempt to get started. They take dedication, hard work, timing, and the most important resource your business will ever have; you.
businesslike anything else, each way takes research, critical thinking, and common sense to know if it will work for you or not. Being the foremost authority on, YOU, you should know your limitations, be willing to research the area you want to open a business in, and the profitability and feasibility of the type of business you want to open. Unsure of where to start just hit the contact button, it’s free to ask and get some details. Please remember that Alphaxiom only makes suggestions and willing to offer tangible advice on steps that can be taken to help you get started, unless contracted to help you; outside of a contract we take no responsibility for your efforts – we are simply here to applaud and lend our words. Now on to the good stuff.
I will being by telling you – and confirming that many businesses can begin from the comfort of your home with little to no extra funds than what you probably have in your wallet or bank account. It is a well-known fact that many successful businesses were started with less than a cup of coffee. Even even those reading this very post frequent many of these businesses, in many countries around the world. True, some have had investors come in and offer cash after the business started doing well or they saw that the owner had a solid business plan but the fact remains, some did start with zero to little up front cost.
The most critical thing when starting a business is to research your industry and local regulations, pertaining to your industry especially if it will be a tangible business (Brick and mortar). You need to know what license, certificates, fees, or paperwork is necessary in order for you to set up shop. Though not important in all business forms, it is still important to at least know what people in your area expect from businesses. Not that you cannot get around it, but in some places where certain license is not needed some people will refuse to do businesses with those who do not show certain documents or license.
Customer culture is also important while you’re doing research. Who lives in the locality where you want to do business, what do they like, what are they like are some of the questions that need to be asked. It is critical that you get to know the customs of the locals before you set up shop, even if well-funded. There aren’t enough ways to stress that you should get to know your prospective clients even a little before you do business.
The old adage, “you have to spend money to make money” is correct in some instances. But there are some businesses that can work around that, in part or in whole. It just depends on what type of business, your influence in the locality, people you know, and the willingness of the locals to work with and purchase from you. But you can bootstrap a business and still become profitable within days, months, or years. Since businesses depend on the person running it to generate profit that just goes to reason.
Funding a business isn’t as hard as it used to be. Although getting loans or funds isn’t an easy task, there are still ways to go about getting the cash you need to start a business that requires cash to get going. Banks, private lenders, investors, and other entities exist for this sole purpose. Even with less than perfect credit most lenders or investors will allow you to get a co-signer if you don’t qualify by yourself. Explore the options available to you, using your favorite search engine and terms like, business financing, small business loans, grants, available grants, money for business, or so may terms that will bring the right type of funding source you’re looking for to your browser. Of course you can feel free to start your loan search by visiting our finance page and applying to one of the lenders we have invited for your convenience.
Deciding where you will set up shop is a hairy task. Much like Alphaxiom, the decision to rent space, start from home, start from someone’s basement, or simply start in cyberspace depends on the type of business you want to run. These days just about any business you open can be run from anywhere. The main thing is to be visible and available for questions or to answer questions. People still want to know that someone is there when doing businesses with them.
Advertising and letting people know your business is alive is probably the most horrifying task of all. If you are someone who doesn’t like crowds it can be harrowing to even think about advertising or answering the phone to speak to someone about your business… Good thing is, it’s not impossible either it just takes practice. Advertising can be free to any amount of dollars you can afford. For some businesses, free classifieds can work much better than the most expensive form of advertising possible. Product knowledge, market knowledge, and knowing your audience is key for this to work right. And don’t worry about getting it wrong because one form of advertising is never going to be enough to attract the amount of clients you want anyway. These days social media has made paying for ads almost needless, if you know what you’re doing. What I will say if you go the solo-route is that you should invest in ad and marketing when you start earning enough; you do not want to swim alone in a sea of sharks and that is the equivalent of the business environment. Whatever you do stay the course and put your all into it to make it work.
Speaking of not doing it alone; form partnerships or take on mentors or affiliations with other business owners / businesses whenever possible. Just know what you’re getting into, that is my only caution as always. Mentors ad affiliations are and will be an invaluable tool against
With so many of the larger companies pulling upstarts into court for almost nothing it is important that you meet other business owners within your sector so you know where you stand or have someone to ask questions when necessary. And yes, a company taking small business owners to court does happen. They don’t want you cutting into their actions so they will revert to any tactic that gets you out of the way, for the pettiest things. Sometimes it is just to pull you into court because they know, or hope, that you will not have the resources or money to survive a court battle. It is the business industry’s dirty little secret. So be ready to defend your business to your prospects and against companies who maliciously attempt to soil your name for no more reasons than getting you to quit.
There will be more articles in coming weeks about specific businesses that can be started from home. Be on the look out for them. Do your due diligence if you’re ready to start your business. Be fearless in your product or service offering and let nothing stunt your drive toward success. Think outside of the space that present business owners have created for themselves because they own it, but clients love an entrepreneur who challenges the norm to form their own brand. The most important resource you have is the one you were born with, common sense and your ability to think. It is what will help you most in knowing how to go about starting your business and what you can do to make it succeed. And of course, feel free to hit the contact button with any questions you may have.
No comments:
Post a Comment