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You Need Drive and a Passion for Success!
There is a misnomer in the business world that you have to have a lot of Venture Capital to get up and running. While VC is a good thing it is not entirely a prerequisite to a startup’s success. Especially in the early stages.
A good entrepreneur can prove his own worth with little to no money upfront. Let’s face it, capital will prove nothing. If you can’t take one dollar and turn it into ten then why would someone think that you could turn one million into ten million?
This principle is especially true when considering cheap franchises as a potential business option. Several prosperous company owners have used reasonably priced franchises as a foundation for their ventures, benefiting from pre-existing brand awareness and operational assistance without having to make substantial upfront investments. By doing this, they show that even with few financial means, development can be fueled by competent company management and a thorough grasp of the market.
From this, it’s evident that innovative ideas aren’t necessarily required for great companies to succeed; instead, they thrive when they recognize and address basic needs that already exist. Numerous well-known figures in the startup industry had humble beginnings, demonstrating that a compelling idea and skillful execution are frequently more important than seed money. Rather than inventing the wheel, they refined and implemented their concepts effectively, demonstrating that a competent company can thrive with little resources by skillfully meeting market expectations.
A good startup doesn’t need to be all that innovative in terms of a business model. None of the big startups that started with very little reinvented the mousetrap, they simply found a need and filled it.
Startups are often measured by how much money they have put together. Efficiency is not about penny-pinching, but rather how entrepreneurs orient their business around technology or a business model that can multiply capital on its own.
The truth of the matter is that if you are confident that you have a product or service that is in demand do not let the lack of funding squelch those dreams!
Getting in the trenches and grinding it out, getting creative, and making your idea stand out from the pack you can bootstrap your way to a successful business!
It’s All About the Mindset!
Many entrepreneurs make the mistake of thinking like a CEO right off the bat. That model of thinking will come in time. But as you implement your business idea your mindset goes a long way to success.
Having that do-or-die mentality is key. Having a lot of heart and passion is even more key. There is only one thing that can hold you back when you put your mind to something. You!
And think about this, if you start with little to nothing and you really grind it out, you retain 100 % of all the money coming in. You owe nothing. Total ownership on your behalf.
You will also develop a survival mindset when you are constantly cautious about each and every expense. Scrutinize every penny spent and find creative yet unconventional ways to solve complex problems. This will help in developing those resourceful gritty mental habits that will foster your success.
Being a vigilant entrepreneur, you can learn several lessons in hard work and flexibility that will ultimately lead to a successful business. If entrepreneurs play their cards to their advantage and achieve exponential growth and of course a payoff that is well worth the wait. It’s all about the mindset.
Entrepreneurship 101
The first thing a good entrepreneur does is disregard the adage that it takes money to make money. Learning how to market your business on the cheap is another good lesson.
Again, be creative. If your idea has stalled out think about repurposing. The more ways you can find to present your product or service the more mileage it is going to give you in the long haul. Could you possibly add your product line or service as an add-on to an already established company? Be creative!
Ask yourself this question. Why do I want to be an entrepreneur? Then make the necessary changes to grow. Re-evaluate your idea over and over, refining it every time until it clicks and you will click right along with it…money or not! It’s more than thinking like an entrepreneur, you have to act like one.
Be prepared to make 100 decisions every day, 99 of which you do not flinch at making. Be ruthless for your business’ sake. The little things can’t be ignored but they can’t be allowed to take up valuable chunks of your time. Just remember that keeping the big picture in focus is your mantra.
Create your logo – Logo Designs and Branding
It’s true, you can spend thousands of dollars on your logo and branding. It’s not necessary to spend thousands of dollars and empty your bank account. You can find plenty of logo designers online to work with you on creating your logo at an affordable price. You can also try out free online logo makers such as LogoMyWay. Logo makers allow you to select from logo templates that are in your line of business. Once you select a logo design template you can customize it to fit your business and brand. Most logo makers only take about 5 to 10 minutes to create your logo. It’s a very cost-effective way to create a quick logo for your company.
6 Entrepreneurs That Built a Fortune from Nothing
So, you think you have got what it takes to start something with nothing? While this may be a shortlist of those who have done just that, think for a moment, why can’t I be on that list? Now you’re showing signs of heart and passion. Just like these guys. These Captains of Industry had a vision, passion, and determination to be successful. This just goes to show that you can start something big from little to nothing.
- Henry Ford. Henry Ford didn’t start with a ton of cash. He cobbled together some loans from friends to start an empire that is worth in excess of 128 billion today.
- John Paul DeJoria. Coming from a life of near poverty, he decided to take a seven hundred dollar loan with his friend Paul Mitchell to start the hair care conglomerate that does over 1 billion in annual sales. And today his net worth is over 4 billion.
- Steve Jobs. The inventor of the iPhone, iPod, and iPad. We all know this success story that had a meager beginning.
- Sam Walton. Sam had 5 thousand dollars that he coupled with a loan from his father-in-law to open his first store. Again, we all know the success that Walmart has had in the retail business world. Walton even held the title of Richest Man in America at one point.
- Kevin Plank. The CEO of Under Armour started his company with some money he had and a credit card. Together, it came to just over 60 thousand. That’s nothing compared to his net worth today of 500 million.
- Bill Hewlett and Dave Packard. These guys started in a garage with a drill press and 538 dollars. Totally unaware that they were starting a multi-million dollar computing corporation.
So what is stopping you from becoming one of these guys? If you have the mentality to stick to a plan and don’t give up no matter what tries to get in your way, you too can start a very successful business without a ton of cash!
