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Starting a business without any money?

13 July 2009

You have an idea, may even have a business plan but no money. You have gone to the banks and they turned you down, you approached a venture capitalist of angel fund and they turn you down, you revert to the government grants for small business but they tell you that you do not qualify. Now what?

This is a common story that we at the Entrepreneur Incubator get to hear each day as people make enquiries about their seemly hopeless situation. The fact is that almost any business can be started on a very small amount of money. The mistake a lot of people do is build a business plan around the assumption that they will be somehow granted this startup capital with a wave of some magical wand. They do not consider the possibility that their business could be planned and developed around a small base of financials and expertise.

A common business plan is developed primarily for the purpose of funding and is never used to create a strategic framework to build a sustainable venture. If you begin with the facts of no capital in mind and develop your business under the guidance of a coach or mentor you have the foundation of a business that will not only grow as you grow but do so without incurring huge debt before you make any money. Makes sense, doesn’t it?

One Comment leave one →
  1. 28 July 2009 13:10

    It happened to me about ten times !!!!
    All I want to do is to get off the ground , but no one are
    concerned about you .
    I even wanted to commit a crime (rob a bank), but change my mind!!
    Can you guys perhaps help me ?

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