How to Start a Business Without Capital

If you wanna start a business there’s a few things that you need to know and the number one thing is mindset.

A lot of people try to start a business with no capital, which make me think… is it possible?

Sure. If you don’t have capital, that means you have time and if you have capital, that means that you can deploy more capital to save yourself time, right?

So right now you don’t have any money, which means you’re gonna have to be the person that does everything.

When I first started by business, I wrote the emails, I built sales funnels, I figured out how to do ads in a mediocre way for example… I would take sales calls, I would go to events and I would sell all the stuff myself, do all the work, like I did everything.

I didn’t have a team yet, and I didn’t know how to create a team. So at first all you have is yourself and it’s something that you need to understand and mentally think “I’ve gotta make the commitment because it is all on me”.

And again, it comes back to mindset.

See, we’re living in a world right now that is pretty broken. Most people are seeing pictures of people in Lambos that are rented or people that are flying and like living this jet set lifestyle and things like that.

While some of it could be real, two things are happening. Most of it is really being done by people that are broke, that are just trying to like unfortunately give these kinds of industries a bad name and the other side, you’re comparing someone’s three year journey to your day one.

So you’ve gotta get over that.

I just did a call with someone because we have an accelerator program where we help people scale their business, they basically were like hey, I wanna do e-commerce but I can also sell books, but I can also do some sort of consulting, but I can also, like there’s all these ideas.

Back to mindset, first thing, clear your mind and have one idea. Stay focused on that idea and then see that idea through. The reason why you’re gonna fail is because you’re trying to do too many things.

You already don’t have a budget to try too many things so stop doing those things, focus on one thing that you are actually capable of focusing on and you are good at or can become good at and then attack that thing for a consistent amount of time.

Thing number two, this is going to take you time. All this crap of like yeah, I could start a business and then I will start making 10K a month next month, it’s most likely not real.

Can you do that? 100% and there’s a lot of different ways. I can give you ideas of things that you can do to get started and try to earn some revenue.

Number three, if you’re picking your niche, I would select something that immediately puts a lot of money, the most amount of money in your pocket rather than trying to do a lot of stuff for little incremental revenue.

What I mean by that is you’re gonna see a lot of people saying hey, do drop shipping, do e-com, do all this. While it’s good, I mean, we do it, the problem is it’s gonna take you more time.

When Tesla started, they started with their most expensive cars. Now you can see that they’ve got traction and they’ve got money and they’re able to launch the model three which is more affordable, it’s more for everyone.

So first off, I would become a specialist at something and then I would charge for that specialty. It allows you to be more one on one because you have to do something like that to get started to understand the psyche of the person that you’re selling something to.

To be able to help and understand their problems so you can then create more content to help them add scale or to be able to understand the methodology of the needs of this person. If you’re an expert at something, you’re becoming good at something and then you’re selling your services, then you can charge a little bit more money, charge more high end.

It’s gonna allow you to 1, save up some money for ads because you’re gonna need to have ads to scale, you’re gonna need revenue for your business to put into the actual business. Two, it’s gonna allow you to have a little bit more money in your pocket so you can quit your day job and you can start moving the ball forward with this new business.

Where do you start if you have no money? Well you can’t run any ads, right? But there’s a few things that you can do.

Again, they’re gonna take time and effort. You can start a YouTube channel and plenty of people have 2,000, 3,000 people on a YouTube channel and they’re doing 10 to $20,000 a month.

They’re very tight and targeted, the conversation that they’re having in their channel. My buddy Josue is doing $20 – $30,000k on Instagram a month and only has 2,000 people in it but it’s a very targeted conversation, he’s speaking to a very specific person and he’s got a higher end path where people can join in his consulting services.

So I would use Instagram to DM people and have start creating conversations.

Then start a YouTube and make videos that you can then push the viewers to Facebook and build a community. Similar to how I do here.

Or you can go into Facebook groups which is probably one of the most untapped places and add value. Start your own Facebook group and then join a lot of like-minded Facebook groups and go add a lot of value inside of those groups and ask for nothing.

People will start following you, start joining your group and as you continue that conversation, you’ll be able to sell people in an opportunity of whatever it is that you sell and you’ll be able to make more money.

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