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A defined effort and activity to produce and sell goods and services for profit. So, if a business is a commercial activity for profit, then monetization is key to business, therefore, when you monetize anything, it becomes a business, hence, you are in business when you sell what you know and do. And this kind of business can kick off with little or zero capital. This is different from traditional business planting where you write a business plan and go looking for investors and loans. With modern technologies and social media platforms like; WhatsApp, LinkedIn, Instagram, Facebook, etc., you can start and run your business from your room with no capital. This article teaches you how to kick start your commercialized business with zero capital, especially online/digital businesses or work from home businesses.
Brainstorm And Mind-Mao
Most zero capital business ventures are solution-to-profit based. Hence the ability of the entrepreneur to brainstorm and mind-map the problem to be solved, the best way to solve it, discover those with the problem, the offer and solution to make and how to get them in is required. At this level, you research other models of your impending business, study the risks and pitfalls and how to avoid them. study the problem and map out the uniqueness of your business or brand, understand the solution and how best to offer it faster, create your brand and logo using simple online tools like Canvas, crowdSPRING, Odesk, or Elance. Leverage social media platforms, especially WhatsApp for awareness. And start your business.Develop An Entrepreneurial Mindset
Be a person of value and solution. Business is all about offering solutions to people. spend time to read, research and implement. Monetize what you know and what you do, package it as a solution to a group of people. Look at your skills, knowledge, experience and tangible resources. Start with your phone and data and grow with time.Sign up to the Connect Nigeria daily newsletter
Hunt For Contacts
Your new business needs customers, and since it is probably an online business, you will need contacts for traffic. The profit which your business sets out to make is money, money is with people and people are the ones with the problems that brought your business into existence in the first place. How do you get these people’s money? You solve their problems. You can only do that if they know you have the solution, hence, getting their contacts and making them view your status on WhatsApp where the solutions are advertised is very key. As your business grows and you earn, you can use part of the profits to run ads or leverage WhatsApp TV. Remember you are starting your business with zero capital, and if with any capital at all, that should be the money for data.Get A Brand Name For Your Business
You will need a name that will stand as a means of identification especially when you join online business groups and pages. It could be your name or something simple and unique. Create a unique WhatsApp link for free promotions starting from friends, family and people you know. With this link, they can post your business on their status and the link will bring your prospects to your wall. The link should tally with your brand name, which includes the logo. Also, create a simple flyer with Canvas. From the above, it is clear that you can start your business with zero capital and build it over time. All you are required to do is to understand the problem your business is set out to solve, how to solve it best and discover those with this problem. Featured Image Source: Opportunity DeskGot a suggestion? Contact us: editor@connectnigeria.com