Starting a new business with NO money

You read the title right!

Yes, starting a business with no money…

It may seem impossible, like most of us believe. But starting a business with literally no money is possible.

If you still think it’s not possible, I will prove you wrong.

I have a plan which requires a computer and an internet connection only!

Follow these simple strategies to get started:

Step #1. Make use of your Skill & internet

As you’re looking forward to starting a business, I know you’ve got some good skills. Like you can do some tweaks in Photoshop and remove pimples from your face?

Make use of the internet, create a profile on freelancing sites, and start selling that skill.

Why am I asking you to make money first?

I want to start a business with no money, man!

Cool down, I am asking you to save a few bucks before.

Step #2. Be Creative, find an idea that requires no investment

I know you’re creative but can you find an idea that requires no investment?

No worries, I’ll help you out. Two types of businesses are common; product-based and services based. You’ve to choose the later one as product creation takes time and requires money.

Service-based companies require no formal investment.

Here’s how to offer your services free:

  • Focus on one SKILL:

What kind of services you can offer?

You mean you, and other like-minded people in your company. Narrow your skillset and write down exactly what you can offer.

  • Brand Yourself on Social Media:

You’re lucky as you’ve got free pages for your business through social media. Make your existence on most of the social media platforms. Use third-party services like freelancing sites to sell your services. Promote your business in relevant groups and online communities.

I know you’re good at marketing. As you’ve marketed your services effectively, I am sure you have succeeded in fetching your first customer. Be customer-oriented and offer him the best you can!

Here’s a tip from Google’s co-founder, Larry Page:

“Always deliver more than expected!”

  • Keep up the Marketing Process:

As you’ve fetched your first customer through proper marketing, you can fetch more. Keep up the marketing process.

Step #3. Earned some bucks? Build Your own thing!

Yay, you’re at the third step now!

As you’ve earned some money (I know you worked hard), spend it on making your own thing. Till now, you’ve used third-party services to promote your services. Now, you have to get your own platform, your own business site. Spend a little money for domain & hostings, install WordPress (as it is easy) and design your website with drag and drop plugins like Elementor. No need to hire developers, this will cost you a lot of money!

Step #4. Your Business is officially Online? – Scale it up!

So, you started a journey with no money in the pocket. You invited your friends to work with you for free. You sold your services on third-party platforms. Later after saving a few bucks, your own business site went LIVE.

Congrats on the achievement!

Now is the time to scale it up. By scaling, I mean to learn more relevant skills together with your team and start offering them to grow faster!

But please don’t stop, your business is in the maturity process…

Don’t stop learning, don’t stop marketing. You’ll have enough clients to pay your bills and the bank balance you dreamt off one day!

FINAL THOUGHT

Above was the same procedure with which I started a graphic designing business online and its blooming right now. Well, that was a pure online business but in the end, you always wanted to start a business with no money and you did it!

Making Changes to Freelancing Routine

I have been into freelancing for quite a long time, and now I am experienced enough to share some freelancing tips.

Yeah, I have got some tips for you; tips about making changes to the freelancing routine.

First things first, why is it necessary?

Simple, you get more time to enjoy when you make a freelance work routine and follow it.

You get enough time to hang out with your friends and participate in parties.

If you’re a full-time freelancer and follow a no-routine principle for your projects, you’re on the risk to lose most of the colours of your life.

Losing colours mean losing your social activities.

Without a routine, you’ll end up with tight deadlines, and you won’t even find time for yourself!

So whenever you do it, do it with a routine.

So, here are some tips to become a bad freelancer who manages his time effectively:

Tip #1. Do the Smartwork

We hear motivational speakers sharing the power of smart work as it is the only way to accomplish more in less. It’s about making subtle decisions and sticking to it. Those decisions can be habits like stopping only when you’re done.

Doing smart work makes you stand out from other freelancers. Smart work requires less effort, so you do more, and when you do more, you grow quicker!

So, the first thing is about doing smart work. Learning new techniques to get your work done effectively is essential for it!

Tip #2. Have a Holiday

I know you wake up, have breakfast and coffee, and find yourself on the desk with pyjamas.

That’s great but other than most of the freelancers do, like they work the whole week. No holidays, no time to relax.

No holiday in freelancing means you’re doing the hard work.

And I guess we are looking for smart work, right?

So, get a holiday fixed and relax that day.

Researches have proved that breaks are essential as they boost productivity and work quality spontaneously.

Tip #3. Fix your working Hours

As you’ve finalized your holiday, it’s time to finalize your working hours.

Here’s the thing, no need to stick to 9-5 or any traditional routine to work.

It is the beauty of freelancing, man!

Fix any flexible hours for you to work.

But here’s the thing; please stick to it!

Tip #3. Stop watching Netflix

No, I am not asking you to quit watching your favourite TV series altogether.

What I am asking you is, don’t dare to open Netflix in your power hours.

On your workspace, you’ve to complete your work milestones first and then you may watch Netflix.

Tip #4. Stop using Social Media

It is the second time I am asking you to stop using something.

First Netflix and now, social media…

How can I avoid these, these are important for me, I get bored!

Okay, I am not asking you to avoid these altogether.

I just want to avoid these when you’re on your working desk. If you keep social media, Netflix and other distractions together, you’ll end up with tight deadlines.

A STORY FROM MY BAD FREELANCING CAREER

There was a time when I had no idea about setting priorities and delivering projects on time. I used to work all day watching movies, checking Facebook newsfeed, and spending a few hours for the actual work.

This habit made me lose my clients as I was unable to deliver on time. I was distracted when I was doing the actual work.

And when I prioritized my working time, everything changed.

What I did, I followed “work first, and then enjoy” principle which eventually helped me become a BETTER freelancer. The one who worked for just a few hours to meet the deadlines!

How I did that? Go back and reread those four tips.

Happy Freelancing! :))

How to Avoid Freelancing For Free?

Step #1. Keep a Written Record

I have been through those times when my hard work was not measured by money. I was doing work for free. Those times included free and paid internships. One thing is common in both internships, you work but no money. In free internships, you don’t get paid at all while in paid, you get paid very little that are enough for transport charges only.

To avoid working for free in such cases, I tried to keep a written record for what I did.

As I was about to complete my internship duration, I presented the record to my manager.

And guess what?

I received a paycheck that was 3x more than the stipend.

Step #2. Get a percentage fixed to be paid in advance

The start of my freelancing, I always thought about getting paid in advance. But most of the clients don’t go with payments unless they get their projects completed. As you complete the project, the clients take days or even weeks to process the massive transaction.

To avoid this, ask for a fixed percentage (from 25% to 50%) of the actual cost in advance. In this way, the client has to pay a portion of the cost later which can be covered easily.

Step #3. Divide the Project into Milestones

The above strategy doesn’t work for the clients that don’t pay in advance at all. To make them pay, there’s a divide and rule principle.

What to divide?

Divide the project!

Divide the project into milestones. A great freelancing platform, Upwork makes use of this principle.

While you divide the project into milestones, set prices for each.

As soon as you proceed with the first milestone, get your pay-out and then proceed to the next milestone.

This principle worked perfectly for me, try it once!

ANOTHER SIDE OF THE STORY

Everybody wants to get paid according to the competitive market rates but nobody talks about the quality of services. To make sure you earn what your seniors are earning, you have to match the quality of the work they provide. To improve quality, keep learning and stay focused. You don’t deserve anything good if you stop learning.

To get what competitive market is paying, you need to make yourself stand out. This could be done only through consistent learning and continuous practice.

Learning is just the beginning while implementation is the real game.

Gary Vaynerchuk calls it, “PRACTICALITY”.

Practicality is the art of bringing your ideas into reality. Just like you’re working on dreams, work on what you learned about your skills.

Remember, if you learn and don’t bring practicality in, your knowledge will rust out. You’ll always stay where you started, no growth.

Some top freelancers use the term “GROWTH”, too. Growth, on the other hand, is a perfect combo of continuous learning and implementation.

I am sure you got my point, right?

Still confused?

Comments section is there, let’s talk!

So, you hate your job? Leave!

Is that tiring? Is it not that interesting? Or whatever else the problem is, here’s some sound advice:

Just Leave!

However! Stop for a moment, before you decide; make yourself think. Don’t decide too quickly, let’s with some analysis.

You hear philosophies like “your decisions make up the most of your life”. These philosophies are accurately up to the mark. I believe decision making is a skill that everybody should learn. The art of making decisions helps you navigate throughout your life. We have both; success and failure stories. The difference in these stories is only based on decisions. The success story consists of well-analysed decisions while failure consists of some nonsense decisions.

About you, you’re just making a career change. That career change can’t decide your whole journey but it has some impact at the same time:

Career change and getting the job you deserve

Career change is not a bad idea if:

  • Your job is not teaching something new: The job that makes you stick to what you’re capable of is often destructive. So, if the job is not teaching anything new, make a change.
  • Your job is not according to your skills: I know you’ve acquired an updated skillset with your job inflow. If the new skill set is not being utilized in the current job, changing career is preferable.
  • Your job is making you lazy: Some jobs offer perks, and incentives spontaneously to bribe you. This makes you lazy and you don’t see any self-growth, time for a change!
  • You’re not grooming: If the job doesn’t make you a better person on a consistent approach, changing career is a mindful decision.

And instead of all these approaches, if you just want to try your luck anywhere else; stop for a moment!

I mean, you’ve got bills to pay, or you may have some debts to return. Stop for a while and play a safer side, first:

1. Have got any passive income source?

Have you got any income source(s) other than your current job?

If yes, you’re great.

If no, you’ve got to develop.

What skills you’ve got?

Offer them online at freelancing platforms, sell it!

Get some permanent clients that choose you every time for their projects.

Passive income is not limited to freelancing only. It can be from that portion/room you’re renting out at Airbnb, too.

Whatever skill you’ve got; you should quit your job only when there’s another income stream. Who’s gonna pay the bills for the time when you’re walking around as a gentleman for interviews?

2. Be Proactive

Not everybody has passive income streams; so in the last month of your current job, search for the jobs that you’re interested in. In this way, you can have brighter chances of getting the job you dream as soon as you sign the resignation letter.

This approach is called ‘proactiveness’, getting ready for what has to come.

And if you’re frustrated about the job…

I know how it feels when you’ve gone in a wrong career. You end up with frustration and think about making a change in the early days. We all go through these situations as you’re going through.

Career change is not a bad idea and I have shared some legit approaches about when to switch and how to switch.

I am sure you’ll make a career change and land on the job you deserve. As soon as you get the job you dream, you’ll remember my take on it.

Why?

Because I have experienced making a career change for years and I know both sides of the story. I hope my thoughts helped you somewhat.

Anyways, I wish you the best for the career change. Cheers!