Start Small: But Think BIG! Have great ideas but spend wisely at the start up stage.
Often you’re much better off looking for a business concept that is already doing well, then take that idea but do something different and better. Many great businesses are not peddling fresh ideas, just re-branding what is already out there and adding a new angle- Mp3s then iPods, bottled water then Perrier and permanent markers then Sharpies – get the picture? Add a USP to it, make it stand out, it could be just the branding, customer service or even pricing _ which Apple did successfully!
Starting a new concept can be costly as you have to create an awareness as well market and sell it.
Don’t be afraid to stand on the shoulders of giants. Websites like Amazon, Ali Baba, Etsy and eBay, have done the hard work for you by building an audience for you to sell to – all around the globe! No expensive shop premises or legal agreements to worry about. Even YouTube lets you have your very own TV channel. There are people on YouTube turning over thousands every year from adverts place on their videos that shows them just talking about their lives and their passion.
Of course dream big, have bodacious visions of where you want your business to be in one, two or three years time. Dream big, but be prudent with your costs – overheads and operating costs -until you can afford to. Do not let the lack of finances stop you from pursuing your dream. It is often said that the ‘why’ you are doing it is more important than the ‘how’ to do it.
We have all read about businesses that started up with practically nothing – Amazon started from a garage, Facebook from a college dormitory. Don’t buy it if you can rent it and if you can borrow it why rent it?
Larry Ellison, one of the wealthiest people in the world, with a fortune worth $48 billion, co-founded Oracle with two partners and a total investment of $2,000–$1,200 out of his own pocket.
Some cost saving tips
Get my free business map by registering with your email - on the right
Free websites from weebly or moon fruit
Free business cards from Vista
Free Networking opportunities search Eventbrite for events in your area
Free Marketing via social media - Twitter, LinkedIn, Facebook etc
You can even get a free office and wifi for a cup of coffee :)
Read more about setting up a business for free here
There is never a perfect time to start a business and good ideas are two-a-penny, but it is your vision, taking action and the passion to do something that will make the difference.
Nothing happens until you do something. You do not have to be great to start but you must start to be great.