Friends, Business/ Startup/ Entrepreneurship is the trending words nowadays.
WHY is it so? because
The old choice of job was safe & taking the big risk of going out on your own was risky.
The new reality is that working at a job may be a far riskier choice.
Instead, take the safe road & go out on your own.
Imagine a life where all your time is spent on the things that you want to do. Imagine giving your greatest attention to the project you create yourself
instead of working as a wheel in a machine that exists to make other people rich.
Let’s jump directly into the 8 key points to build a business with low investment which I’ve gathered for you. Stay focused.
1 } To start a business, you don’t need a lot of money to borrow, hire employees etc. Instead,
You can start now based on your specific personal combination of passion & skill. (but not everything you are passionate about can be marketable. eg- You can be very passionate about eating pizzas, but no one is going to pay you to do it.)
In the convergence where passion/skills meet usefulness, a micro business can be built.
Passion/skill + Usefulness = Success
2 } You require only 3 things to start a business. They are:
- Product or service- What you sell
- Group of people willing to pay- Your customers
- A way to get paid- How will you exchange your product or service for money.
Please Note. If you have
|Product/ Service||Customers||Way to get paid|
3 } You must have heard of,
Catch a man a fish & you feed him for a day. Teach a man to fish & you feed him for a lifetime.
But, here in the business. It is like
Teach a man to fish & you will ruin a wonderful business opportunity. So, Give them the fish ( or what they want )
– Carl Marx
4 } When thinking about different business ideas, also think about the Money.
Money isn’t the soul consideration but it’s an important one.
Ask yourself three questions for any idea:
- How would I get paid for this idea?
- How much would get paid from this idea
- Is there a way I could get paid more than once.
5 } Rather than talking about the features, talk about the benefits customers will receive from your product.
As For Example :
|eg) In a restaurant, features are |
Relax & Let us take care of you at the end of your busy week.
6 } What people want?
People want more of money, love, acceptance & free time &
Less of stress, long distance between commutes, bad relationships.
If your product/ service focuses on giving more of what they want & taking away what they don’t want, You are on the right track.
So, focus on eliminating the pain.
7 } Give them the offer they can’t refuse.
Let us take an example here,
Imagine if you are running a marathon & after 10 km’s, you are almost dead & tired & if you find some people selling orange slices & other the donuts.
Which one will you prefer? Obviously, Orange slices.
Product/ Service + Right Audience + Right promise + Right time = Offer they can’t refuse
8 } Two common mistake many aspiring Entrepreneurs make:
- Thinking too much about from where to get money to start their project.
- Thinking too little from where the business income will come from.
Spend as little money as you can & Make as much money as you can.
Don’t feel reluctant to spend money on:
- Building a brand
- Boosting your sales
In short, I would like to say Provide value to the people’s life through whatever you create.
If you want the audio-visual format of this post. Relax and watch this beautiful video created for you with love.
It’s time to give credit to the amazing Book, from where I have taken these learnings. It’s one of the best books for Young Entrepreneurs today called 100 $ STARTUP written by Chris Guillebeau. It contains many short stories of people who started their business with very very low investment without even an intent of starting a business.
It contains many short stories of people who started their business with very very low investment without even an intent of starting a business and now they are having their proper profitable business.
I highly recommend this book. You can buy this book by clicking here
If you find this helpful, Don’t forget to share with everyone on social sites.
SUBSCRIBE FREE to Uplift Urself Blog to never miss such important regular contents to rise high in every aspect of life.
Mention your thoughts & views in the comment section below. I love talking to you.
Thanks & Stay tuned.