Final Solution to Lack of Capital in Starting a New Business - What to Do When There is No Capital

It is no longer news that what you need first when starting a business is not financial capital but idea capital. Beyond idea capital, you will need skills. To succeed in a business project, especially one you’re excited about, it helps to think carefully about all the skills you have that can help you attract people and get them interested in you.

Here are a few things you can do when trying to raise capital for your new business;
1. You can Resell Something: There are many business owners who have grown large businesses just be reselling products that have already been made. This can be done through a variety of ways. you can set up an online store and partner with drop-shipping companies that will do all the order fulfillment for you. Online ecommerce platform Shopify has a great drop shipping guide. You can also act as mid-man for other sellers.

2. Sell your services: One way to start a business with little to no startup capital is to sell your services, instead of a physical product. There’s a huge variety of services you can offer, depending on your background and interests. Some will require advanced degrees, such as accounting, while others require little more than a working knowledge of how it’s done (such as babysitting, lawn mowing or personal assistance).

Because you are selling your services, you will need a branding plan to make sure your name and company gets in front of the people who may need the service. Some places that are free for promoting your services include Fiverr, Craigslist, Elance, Taskrabbit and Skillshare.

It’s also useful to have a website to show examples of your work, list your experience, and blog about your industry to draw visitors. To learn about very cheap site, text (+234) 8184674107.

We will share more with you in part 2 (subsequent articles).