What to do when you have a business idea and you have no capital to start?

[Deleted member 28873]

Starting a business with limited capital requires a shift in mindset. Traditionally we are conditioned to begin the process of looking for new business opportunities by asking: “Where is there a gap in the market and how can I fill that gap?” A gap could be an unfilled customer need or a new invention yet to be brought to market.

Next, we establish a goal to create a venture that will fill that gap. We consider the resources necessary to make our goal a reality and go out in search of those resources. We write a business plan and present it to potential financiers with the promise of a return on investment.

If the financiers like us and like our idea, they provide us with the capital to start the business. If not, we are stuck.most times people find it difficult to raise the resources they require causing the entire project to fall on its head.There is an alternative route to creating a new venture.Instead of starting with where is a gap in the market in which you need to fill "ask yourself ask your self what can I do whom do I know?."

 

[Abee111]

Having a business idea with without capital is very common in our community now a days, and there so many who don't have the idea but looking for those with the idea but they couldn't find any. So I think by sharing your idea with one another will be the best thing to do.share our idea with those that u think have passion, zeal for business, or look for a way to save little capital,you can even borrow little capital from families and friends too in other to set it up that's if you are mindful of what you are doing..

 

[Hena101]

Ohhh this is what many young people are going through more especially in our continent Africa many business and entrepreneur idea that can solve many problems but the capital to start it is their disadvantage.
But there are others ways of starting your business this are make a good plan that is presentable and take it to bank and request for loan to finance that business idea when the the see plan and how good it's you can get loan and start your business repay your loan and continue with it.

 

[Dekadet]

Write your reply...getting a loan from the bank by just presenting your business plan whether feasible or not is not as easy as you put it. we all know that some bankers offer these loans to themselves through friends or family members. Then they try to frustrate genuine loan seekers.

Though banks give out loans but its a 30% to real or genuine business men then 70% to themselves through proxies.

 

[Georgeadawara]

Having the business idea with out having the capital can't stop tou from riching to your dreams.
By having the business idea it can be helpful to help you write a business plans and you can still ask for a loan from the government or the micro finance bank to help you to start a new business presenting your business plans very well can help you to be approved.

 

[Alexandoy]

I don't agree with getting a financier or investor especially from strangers. If I have a business idea that I am positive that it will be profitable then I would sell an asset to fund the business. Even if I sell my car, I would do it if I am really sure that my idea is a sure money maker. Getting a capitalist partner is not good because you can lose control in the management.

 

[IamDozzy]

I don't agree with getting a financier or investor especially from strangers. If I have a business idea that I am positive that it will be profitable then I would sell an asset to fund the business. Even if I sell my car, I would do it if I am really sure that my idea is a sure money maker. Getting a capitalist partner is not good because you can lose control in the management.

But what if selling ones asset would not be enough to find the business. I believe we can't entirely rule out the possibility of getting a financier or an investor. That is why there is a contract agreement. The onus is on the person with the business idea to thoroughly review a contract agreement before putting pen to paper.

 

[Lekhraj19]

Yes, it's true that the beginners often fall in this problem but the way to solve this issue is on you. If you want to take help of people, then I feel it's another pressure of debt that can be on you. So, it's better I guess that you can sell your own asset if not too important and look for the ways like Social media marketing and some other techniques to tackle it.