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How To Start Your Business Idea With Less Capital - Business - Nairaland

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Which Of These Businesses Requires Less Capital To Start? / Need Business Idea with 300k start up! / Business Idea With #50,000??? (2) (3) (4)

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How To Start Your Business Idea With Less Capital by mrtantalizers(m): 2:29pm On Apr 06, 2021
1. Start with what you have: Regardless of how little you consider it to be, it can start something. You may not be able to start according to your desire, but if you start with the little you have, you will see your desire fulfilled overtime.

2. Start from where you are: You may not need an office yet. Instead of thinking about an office that will gulp your money, you can start from your room if possible. Apple started from a garage, so is Google (if I'm right). Starting from where you are is one of the ways of reducing cost because you don't even know how the business will fare.

3. You can sell some of your ideas to raise money. This is advisable when you don't have enough in savings. However, if the little you have is enough to start with, then don't sell. Elon Musk sold some of his too. But imagine if Facebook had been sold.

4. You can approach people interested in you ideas, convince them to invest in your business.

5. Planning is essential. With a good plan you will save a lot of money which in turn can be invested in the business.

6. Consider well before you acquire liabilities. If you can start without a car it will be fine. I'm not saying you shouldn't get one if the need arises.

7. Start now! In a world of uncertainty the cost of starting now could be(and in most cases will be) cheaper. Therefore avoid procrastination which is a thief of time and resources.

Feel free to add yours.
Re: How To Start Your Business Idea With Less Capital by mrtantalizers(m): 2:30pm On Apr 06, 2021
Lala, your speedy response is required.

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