How To Start A Business With No Capital



Question
Can you help me please? I’m out of job. I lost it last September. I don’t know what to do. At my age, 51, I’m no longer competitive. I want to venture into business but all I have is P30,000. HELP PLEASE....

Thanks, Sylvia
Photo credit: https://pixabay.com
Answer
Hi Sylvia, One option is to get a job first before venturing into your own business. Yes, there are jobs out there for people your age…

Option 1: You can sell something and earn via commission. Some companies will accept anyone of any age, as long as they know how to sell.

Option 2: Some Call Centers accept people of any age, as long as you speak good English. You just need to search for one!

Option 3: You can go to people you know—perhaps owners of small businesses—and you can approach them and offer your services to them.

You shouldn’t approach them by saying, “I need a job, I’m desperate...” but say, “You need me because I can make your life easier and more profitable...”

But you’re right: You can set up a business even without much capital. Or at least, be self-employed.

What kind of businesses? If you don’t have capital, you can sell your services directly to customers. I’m sure you have an expertise that you can sell to a customer... Accounting? Cooking? Organizing? Tutoring?

For example, my friend tutors kids and charges per hour.

My other friend teaches kids how to play the guitar.

My two boys are taught by an enterprising young man how to draw, doodle, paint, etc... He charges P500 for a 2-hour visit. Imagine if he has 20 students a week?

I know of someone who knows how to cook very well. He cooks for small groups, small parties, etc, for a prearranged fee.

He goes to their house, buys the ingredients, and cooks for them—using their own kitchen. The opportunities are endless!

The key is to tell the world about your skills and services—and you can do that easily now through the Internet. (Think Facebook!) Give your services for free first.

If you’re any good, people will tell their friends about you. And don’t forget to study, study, study!

The important thing is to stick to your core gift, the area of your expertise. So that you don’t have a learning curve to go through.

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