The first thing we ask ourselves when we think about starting a business is how to start your own business without money. Is that possible?
We have this idea that in order to create a successful company, we need big capital, profitable business ideas and a lot of technical knowledge especially in finance and business management.
But in Superhábitos we know, from our own experience and because we talk to many successful entrepreneurs and businessmen, that this is not the case.
You can start your own business from scratch without money, from home and right now.
By the end of this article, you will be able to start that project you want so much to have.
The most profitable business idea
We know you don’t need a lot of money to get started. The most profitable business idea is the value you have to offer, what problem you can solve for other people and they are the ones who will pay for you to ease their burden.
- Think about what you pay for every day.
You pay for a bus ticket, a taxi fare or the petrol at the petrol station. Why do you pay the taxi driver, the bus company or the owner of the petrol pump? Because you need to move from one place to another to go to work and they solve the problem for you. Thanks to them, you don’t have to walk and leave two hours before you get home. That’s why these people were able to create companies around that, because there are many people who have a problem and they solved it in different ways.
- What else do you pay for on a day-to-day basis?
You go to the supermarket, to a store (if you are in Argentina, also to a kiosk), to a pantry to buy food and items you need for the house. Most people, especially in big cities, do not grow all their food. So a clear need is to get food somehow. Those who have shops and supermarkets solve that problem. Everyone knows that if they need to get food, they will be able to solve that need in these places. And they are the ones who pay for it.
As you will see, in these simple and basic examples we can notice that to start a business you don’t need a revolutionary, innovative idea that nobody thought of before. You need to identify a clear need of a group of people and have a product or service that can solve that problem.
Before Super Habits, we had an online store for women’s accessories. How did we come up with this idea? We asked ourselves “what can we do that will be easy and sell well all year round?
After 2 years of working with an idea based only on selling it and making it easy, we couldn’t grow and didn’t enjoy what we were doing.
When we decided to focus on adding value, thinking first about what need we can satisfy with what we have to contribute and we created an idea from there, Super Habits was born and after more than a year we are convinced that this is the best way to start.
The best business idea will be the one that combines other people’s needs with a real value that you have to contribute and solve their problems.
You can start your own business without money
Of course, in many cases, many business models require a significant capital investment. For example, if you want to set up a box factory, you will probably need specific machines and a particular infrastructure for this.
But that is not a determining factor. You can start your business without that big capital and still be successful.
We started the Accessory Store with $120 Argentinean pesos. To give you an idea of how little it is, it would be something like $12 dollars. Although after a while we felt stuck and decided to close it, we never lost any money, and we managed to make it profitable.
You don’t have to have a business location to start selling something. You don’t need to have a super website to start an online business either. You don’t even need to have something in your hands to start selling it.
What you have to do is start. From there everything is profit and everything you re-invest in your business will make it grow.
If the value you have to offer is in the form of a service, you can start by offering the service to those you know at a relatively low price, and if they hire you while you give that service you are recording everything you learn, what works and what does not, and by the time you have your second customer you will have improved the system and learned a lot.
This is a way to validate the idea you have too. If no one is interested in the service, or if no one wants to pay you for it, then maybe it means that there is no real need or that you are not selling it properly.
The whole experience of starting out without any further thought will serve to improve, change and perfect your product or service.
Starting a business without technical knowledge is possible
You can start a site on the Internet, you may want to create niche pages and sell advertising or put up a shop and sell some product without knowing about programming, without being an expert in online advertising or without having had many shops before
There are three key skills to be able to start your own business without having technical knowledge as an exclusive requirement:
#1 Knowing how to learn: nobody knows everything, and nobody has to know everything. Each person is unique, each of us is very good at something and not so good at other things. But we can all learn anything. Just because you haven’t studied something at the University doesn’t mean you can’t learn it, by taking a course, asking who else knows, or with the simple and powerful help of Google.
#2 Delegate: some things are better delegated. If you are not an expert in graphic design, you can delegate the graphic design work that would take you a month to learn, to a person who can do it in two hours. Sometimes it is convenient to make the investment and delegate a job, so that you can use that week in tasks that are indispensable to do them yourself, tasks that are central to the business.
#3 Teamwork: always, but always, teamwork is worth gold. If you have a team to work with and complement each other, you can achieve more than anyone else and complement what everyone knows. In SH we are four, super different, with different looks and skills, and we organize ourselves to make the most of each one’s talents. In this way, we all learn new things permanently but we optimize time when each one is in charge of what they can do best and what they know best.