Can I Start a Business During Financial Difficulties?

Aug 23

What business can you start if you don’t have a lot of start-up capital, as well as special skills like the ability to shoot and edit videos, write software codes for mobile applications and do website design?

●     Start with services

Don’t even think about releasing a product — it requires more money and time (it takes from six months to a year from the moment of implementation to the gaining profit). And it’s not necessary to say that you don’t have any skills: you must have a skill for walking dogs, and so for babysitting. You don’t need to be a techie to say that you have a special qualification because the ability to build relationships with people is also a skill. With it, you can, for instance, create a recruiting agency or start forex trading. Finding your strength is crucial. When you find it, you will understand what kind of services you can provide with its help. Don’t try to be who you aren’t.

●     Drop the attitude

You can go outside and ask people what they want. You can pull weeds and mow lawns. By the way, many billionaires started their businesses with such services. One of the most striking examples: you can start by digging ditches for laying sewer pipes with an excavator, and retire from the business as the owner of the largest pool installation company in Nigeria.

●     Learn by doing

It is hard to find the perfect idea for a company if you start with the idea of ​​“what can I do”. Instead, you should think about what you have a soul for, then many problems begin to find solutions. In the long term, this leads to success: you work, but you don’t feel at work.

Look at the great entrepreneurs of today. Elon Musk didn’t come up with the idea for Space Travel, thinking about what he could afford. He figured out what he wanted to do and started working to realize his dream (by the way, he almost went bankrupt in the process!).

The best education would be to create your own company. So you can try yourself in Stocks to trade, or, for instance, in e-commerce. A WordPress website through which you can accept payments is made for free and without the involvement of developers. The locals have something to offer that you can sell. If you just take action and are lucky, you may find the deal of a lifetime.

●     Be ready for difficulties

You can post job search advertisements on freelance portals. Don’t ask for a lot of money and try your best to make your customers happy. Take on small projects so that one doesn’t take hundreds of hours to complete. Thanks to successfully completed orders, your rating on the site will grow. With the growth of reputation, the cost of services can also increase. To get customers outside the platform, start building long-term partnerships with them. And this is only one path among a billion possibilities. At first, you don’t create a business, but simply find a job for yourself, which will remain so if you don’t take the next step — start hiring assistants.

It is crucial to remember that running your own business is much harder than it sounds. You have to ask yourself in advance: are you ready to go through difficult times and fight? If you are giving up in the face of difficulties, it is better to find yourself a job for hire.

●     Use connections

The answer is in the question itself: if there is no money and special skills, it is better not to start a business at all. If you have a lot of money, you can hire a qualified employee. If you are highly qualified, you can find an investor. Forextime advises you to find something you like and study it enough to become an expert in this field, working for some experienced person. One day the qualification allows you to start your own business.

By the way, some things don’t require high qualifications and money to start a business. For instance, you can use your own connections and acquaintances.

●     Don’t seek advice

Better to reformulate the question:

  1. What business is better to start without qualifications and money, for which I will buy unnecessary things together with people I don’t like, so that one day I will say: “What have I spent my life on?”
  2. What business is better to start without qualifications and money to have fun, communicate with people pleasant to me and earn enough for a living?

Having made a choice between these two points, you need to understand what means, abilities and desires you have for this. If you don’t have any, nothing will work.

Resources for starting a business can be money, charm, skills, ingenuity, education, confidence, connections, reliability, friends, loyalty, attractiveness, location, experience, motivation, talent, leadership qualities, logic, etc.

But if you really need advice on what to do in life, here it is: ignore all the above, you still cannot do it. If you don’t need advice, just read it once again and confirm that you already know it.

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