When a thought comes in our mind to start a business with zero investment it's really zero investment. Sometimes you pay nothing but at least you need to invest your time which is one of the most important factors.
You spend time learning a skill that is easily traded for money and arrange resources together and create something for which people are ready to pay. You sell your time to make money that you can invest in your business
How to start business with zero investment
Well, if you have confidence to create your own business and your commitment is focused then nobody can stop you to achieve your goal. But the question is how to start your business without investment and why start-ups fail at the initial stage.
Let’s understand the basic approach behind this statement no business can stand in one or two days. It takes time and hard work and your commitment to stand with your business is important in all circumstances.
When you are full of enthusiasm and zeal and decide to do something on your own then your journey begins with searching which ideas work for our business.
As per IBM Institute for Business Value and Oxford Economics report around 90% of indian start-ups fail within five years of their inception.
However as per Small Business Administration 67-70% of businesses globally fail within 10 years. Research shows 21.5% of startups fail in the 1st year, 30% in the 2nd year, 50% in the 5th year and 70% in their 10th year.
Why Businesses fails at early stage
There is almost common reasoning behind the failure of such a startup at an early stage like shortage of money such financial hurdles which leads to failure of business.
Failure to deliver real value for your product or services, lack of authenticity and transparency, inability to compete against market leaders, lack of strategic and effective leadership. Such Inadequate management leads to failure of business.
Sometimes business is not suitable for the market because you are in the wrong market finding a proper market for your product and services is important.
Due to lack of research businesses miss what customers want, they fail to identify their expectations and then later realize that nobody wants that service or product.
Strategies use to start business without investment
Money is not only one criteria to start a business, invest your time, interest, dedication, hard work, Know your skills and use the tools you have before starting a business because starting a small business does not require a lot of capital investment.
Many people are unable to start a business by thinking about the investment cost before starting a business. People want to start their own business but they do not succeed due to a lack of ability to spend more.
Low Investment business with high profit potential is one of the most important factors for a startup. Starting your own business with a small capital is a smart approach to convert a startup into big corporations.
Starting with zero investment business or low investment may seem like an impractical at initial stage, but it’s achievable because many brands like google and apple Alibaba started their journey from a small place with low investment.
Your business idea might not survive for some time but if you are passionate about your work and committed to your business definitely success knocks the door.
Service centric businesses which are less capital intensive like consulting, coding, coaching, designing, writing just bring skills and time to the business table for new startups. Partner passionate people and start work on an idea.
If you are confident enough to deal with people then sell products of suppliers or manufacturers build business models in such a way that work together in your ecosystem.
The goal of a small business is to find work in the long term. If your business ideas are practical, anyone can invest money in your business. a stronger business model can find a way to sell your service.
Do not buy unnecessary equipment in the first phase, unless you can take on rent for a short time for your business. Because you may have the wrong business idea as beginner and need to change direction based on your experience and interactions with the end user as needed.
Once your business starts working and has gained confidence in your field, start to focus on understanding your competitors and their business model to improve yourself. Better planning and execution will lead your business toward success.