“If you don’t like what you do, why are you doing it?” – I asked with curiosity
“Well, because I was naive when I had to choose my career and now, it’s hard to switch. Moreover, I don’t want to do a job, so this or that is all but same.” – The friend answered with obviousness
“Then what do you want to do?” – Me
“I want to start my own business but as of now, I don’t have the funds so, there’s no point. But I know if and when it happens I’ll do good.” – Friend
This was one of the many conversations I have had that ended up with the same conclusion.
It’s a long-standing human dream to embark on a self-owned journey but only a few brave hearts ever build up the courage to pack their stuff and shift their belongings from a convenient setting to a path of struggle.
But out of the many reasons that impede their way, one major roadblock that meets almost every adventurer on his/her journey is of the trifling sum present in their bank account that quashes every dream before it is even voiced in the real world.
But as I mentioned, it meets every adventurer on their journey and some still choose to make it heard while many wait for things to turn upside-down.
If you’re struggling with the same cause then this post is for you.
Go With All You’ve Got
We somehow know our stream, even when we say we don’t, we do. We all have something that we can treat as our expertise, that can help other people push ahead with their struggle and our job is to find that thing and then take the jump to explore this dimension in its full strength.
So, start with something you know. Something that you can solely or with a few people carry across the bridge. This not only will give you confidence, that will show in your syntax, in your speech, but also reduce dependence, hence the cost and time.
You can find freelancing projects that match your skills on websites like freelancer, Toptal, Upwork, etc.
The Type Of Business
The type of business you choose to start can also influence your bank balance. If you’re getting into a product based business you’ll need more upfront investment as opposed to when you’re starting a service based business.
So, if you haven’t already decided, look up for an opportunity in service-based business. But here too, the balance may be required in plenty if you choose to open an opulent resort, restaurant, or anything that requires sumptuous architecture.
More favourable options would be consultancy services, writing services, a software company can also be on the list. While this one is tricky it can work perfectly with the correct knowledge and the right team. It involves comparatively lesser investment than any other business of the same status.
Spread The Word
Go out, do the ahem ahem, i.e, clear your throat. Now shout out loud, “I provide ‘creative writing’ services, anybody who wants it?”
Now, back to reality. Don’t do that. What I mean by that is spread the word, promote your business. Start with your surrounding, tell your family (of course), neighbours, colleagues, friends, friends of friends, create a Facebook page, on LinkedIn, Twitter, Instagram etc.
The point is to spread awareness that you exist because they won’t come if they don’t know. So, help people know.
Minimize The Expenses
Yeah, that office would be great, it’s fancy, modern, and has a cool vibe plus the gentry my god. You sure can move there after 3 years.
What’s more important to start and run a successful business? Definitely not an expensive lavish office, at least not at the beginning. Like this, there are many expenses which can sure take a pause and sit back for a while till you find a space to land your steps for a firm grip.
Work Smart. Period
As you start you’ll find yourself amidst most of the chores. Obviously, you cannot do everything on your own and you’ll need your superhero’s but for most parts, you’ll have to flex your muscles and be multitasking. So, why not do it smartly?
Be attentive to your priorities, know the first, second, and third and take on them one by one.
Use your superpowers, browse the internet, become the knowledge guy. You’ll find answers to almost all your questions with the right search. All you need is proactiveness and a learner’s attitude and yes the internet.
But no matter all that, you’ll always find yourself running short of time. Worry not, here’s a fix to that as well. This post covers the ways in which you can multiply time.
Consult A Good CA
Keep your accounting clean. If you’re not from this background you might falter on this one. And while it seems benign in the beginning, it turns out to be rather ferocious in the middle and sometimes apocalyptic at the end.
If you don’t run in line with the rules and policies, you might find that you’ve run too far and now the fines and corrections are too taxing to swallow you whole.
So, make sure you consult a good CA before you endeavour.
Find out about the governmental policies, if any that favours you, any scheme that you come under or any rebate that you can get.
Few But Fantastic
It always makes to the list no matter the topic, if it’s about business, you just cannot snub the importance of employees.
Though you’ll probably have to be the heart and centre of every programme, you’ll need people you can share the load with.
As you don’t have many funds, massive hiring is out of the option. Your process needs to be more refined, polished, and clear. You’ll need people who run at your speed or better, who share the idea, who are equally committed to the service.
Gather the team and come in full force, victory is yours.
Think It Through
Though life is more than just plans, having an idea of why, what, where, and when will help you evaluate the progress, not derail with the excitement and in the hustle-bustle, and push back when you fall. So, be clear before you start
While flexibility should be the norm, it’s important to have policies and certain rules in the play to make the story more cohesive and understandable otherwise the plot will flow in uneven directions making a mess of the story.
List down the values, the tone, the culture that you wish to have and don’t be too rigid, explore, get lost, and see where you land, zig-zag, and learn. Find the structure and then keep to it.
Make the receivable policies based on your sustenance and not always on the customer’s benefit.
Along with other plans, make financial strategies as well. What’s your target earning?
How will you achieve it?
What will you do with it?
How much will be invested back into the business and for what?
Ask all sorts of questions and come down to something valuable.
Believe In Yourself
And to end the post, I’d like to mention probably the most important thing. Believe in yourself and your idea, trust your instincts, go with the flow. Keep the expectations in check, know that not all days with be filled with excitement and energy, that some days you’ll feel lost, down, demotivated, but that’s all part and parcel of following your dreams.
Know that you can do it and you will. All the best.
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