Easily Start a Business for No Money, Become an Employpreneur
I recently attended an online networking event for start ups on Meet Up. Several people were interested in starting businesses, told their stories and asked for assistance and guidance. A few of the visitors along with the moderator provided advise and contact information for discussing the topics with them further.
And what I noticed was a huge discrepancy in solutions. The old school starting a business solutions focuses on operations, mechanics and finances; securing a loan, getting a lawyer and necessary licenses and permits. Then it moves to product development, hiring a staff and finally the subcategories of marketing and sales.
While the new business model focuses on the dynamics of the business: the purpose for the company, its mission, expressing one’s passions and interests through the business, defining target audiences, building a social media following, testing and surveying the market.
The new model makes “starting a business” available to almost everyone, which is essential in today’s world when pandemics, economic downturns, and the emergence of automation and artificial intelligence are resulting in millions of people losing their jobs and eliminating millions more. Businesses can be started with almost no money and no investment that produce an immediate income. That’s what you need if you are laid off or loose your job.
One traditional approach is quite humorous to consider for most of us, although still useful to people with access to large amounts of capital: An entrepreneur with a vision for an enterprise, will write a business plan and then apply for a $200.000 or more loan. He’ll then rent an office or space, hire a staff, and then begin developing his product or service.
In 2021 we have amazing online tools: the internet, social media, and websites like www.amazon.com. Sites like Shopify, Ebay and Etsy will sell products for us, that with the help of drop shippers or fulfillment companies will allow us to spend just a few hours a week administering the business, while it is earning money for us 24 hours a day. We can then work a job or start other businesses and build our income and wealth.
The risks of the first model, with the focus on getting a loan, operations and product development, is that the business person doesn’t know who their potential customers are or what they are looking for. Thus tremendous amounts of money can be spent developing products that people don’t want and that don’t sell.
And then when the company begins to build momentum, it has the obligation to repay the loan with significant interest or give a percentage of the ownership of the company and profits to the investors. This can be a significant impediment to success.
The internet allows us to start a business almost immediately and to begin generating a passive income within a few days. You can literally start a business around any interest, hobby, skill, training or experience you have.
Thousands if not millions of young adults are doing this organically. They grew up with the internet and social media, and business is just another way for them to express themselves online. You’ll see their videos on youtube.com. That’s what Sharon Tseung did after she established 12 streams of income. And you’ll find many other videos on youtube.com such as “How I grew 5, 7, 9 9 streams of income by age 30. And youtube.com adverstising programs are one of their sources of money. Pamela Reif’s exercise videos, for example, have followings of 4 million viewers or more. She’s well on her way to becoming a millionaire.
Many of these young business entrepreneurs are making $5000 or more per month with Social Media and Facebook Marketing Consulting and other innovative businesses. Check out these links for business ideas:
32 Proven Ways to Make Money Fast, and
65 businesses you can start while working a job.
Once you have a business you want to start, begin building a following on social media with a blog, podcast, regular postings, or with a You Tube Channel. Survey the customers you want to target and ask them what they want and what problems they have related to the products or services you want to sell and what exactly would solve them. Collect prospects emails through subscriptions, comments, free downloads, consultations, and classes.
Through providing information, you build trust and a following that can then be converted into customers. Eventually send your prospects emails with specials and offers and you will make sales. This can all be done for free before spending any money on advertising.
Don’t want to be obligated to a long-term loan? Use my multi-tiered system for starting a business. Begin your first business and build an income while still employed or if you have lost your job, start a business that will generate an immediate income. When this first business is fruitful, use the income to start another enterprise. And then another. You can always take a break along the way and get a job; that’s why I call this The Journey of the Employpreneur. And you’ll be so much more valuable as an employee because you use your time wisely, think independently, and are a problem solver.
Through building a social media following, providing valuable free information and establishing trust with your targeted audience and developing email lists, you’ll sky rocket your success, income, and lifetime fulfillment. Eventually you’ll start your dream business, live your passion, be debt free and have the income you’ve always wanted!
Ken Wasil is a write, digital marketer and start up and small business coach. You can reach him at growyourbusiness88@aol.com and visit his website at: www.growth-online-marketing.com. He’ll be offer a class on “How to Start a Business and Generate an Income in 30 Day”.
